Issuances of Equity. Immediately upon receipt by a Credit Party of proceeds from any Equity Issuance, the Borrower shall prepay the Loans in an aggregate amount equal to one-hundred percent (100%) of the Net Cash Proceeds of such Equity Issuance to the Lenders (such prepayment to be applied as set forth in clause (ix) below).
Issuances of Equity. Immediately upon receipt by a Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall forward 100% of the Net Cash Proceeds of such Equity Issuance to the Lenders as a prepayment of the Loans (to be applied as set forth in Section 3.3(c) below).
Issuances of Equity. Immediately upon receipt by the Borrower or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Revolving Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of such Equity Issuance to the Lenders (such prepayment to be applied as set forth in clause (v) below).
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate amount equal to fifty percent (50%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (vii) below).
Issuances of Equity. Immediately upon receipt by the Borrower or any of its Subsidiaries of proceeds from any Equity Issuance (other than the issuance of capital stock of the Borrower in connection with the Borrower's purchase of the Acquired Assets), the Borrower shall forward 50% of the Net Cash Proceeds of such Equity Issuance to the Lenders as a prepayment of the Loans (to be applied as set forth in Section 3.3(c) below). (iv)
Issuances of Equity. Promptly and in any event within five (5) days following the receipt by any Borrower of Net Cash Proceeds from any Equity Issuance occurring after the Closing Date, the Borrowers shall prepay the Loans in an aggregate amount equal to one-hundred percent (100%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (v) below).
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate amount equal to 50% of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (vii) below); provided, however, that such Net Cash Proceeds shall not be required to be so applied to the extent the Borrower delivers to the Administrative Agent a certificate stating that it intends to use such Net Cash Proceeds to finance a Permitted Acquisition within 90 days (provided that (A) if during such 90 day period any Credit Party enters into a definitive purchase agreement or binding letter of intent with respect to a Permitted Acquisition and (B) if the Leverage Ratio as of the most recent fiscal quarter ended prior to such Equity Issuance is less than 3.0 to 1.0, then within 180 days) of the receipt of such Net Cash Proceeds, it being expressly agreed that any Net Cash Proceeds not used in connection with a Permitted Acquisition within such period shall be applied to repay the Loans and/or cash collateralize the LOC Obligations immediately thereafter.
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans in an aggregate amount equal to fifty percent (50%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (viii) below); provided that no such prepayment shall be required if (A) the Borrower delivers an officer’s certificate to the Administrative Agent demonstrating that the Borrower’s Senior Secured Leverage Ratio is less than 1.75 to 1.0 for the quarter ended prior to such Equity Issuance or (B) to the extent the Borrower delivers to the Administrative Agent a certificate stating that the Credit Parties intend to use such Net Cash Proceeds to finance a Permitted Acquisition within 180 days of the receipt of such Net Cash Proceeds, it being expressly agreed that Net Cash Proceeds not so used to finance such Permitted Acquisition shall be applied to prepay the Loans immediately thereafter.
Issuances of Equity. Immediately upon receipt by (a) MSN Holdings of proceeds from any Equity Issuance (other than equity contributed by the Permitted Holders) or (b) a Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance (other than equity indirectly contributed by the Permitted Holders), the Borrower shall prepay the Loans in an aggregate amount equal to 50% of the Net Cash Proceeds of such Equity Issuance to the Lenders (such prepayment to be applied as set forth in Section 3.3(c) below). Notwithstanding the foregoing terms of this Section 3.3(b)(iii), (A) if a Qualifying IPO is consummated within 12 months of the Closing Date, (I) up to $60 million of the Net Cash Proceeds of such Qualifying IPO may first be used by MSN Holdings to make payments on the PIK Financing and (II) 50% of the remaining Net Cash Proceeds from such Qualified IPO following the payment of the PIK Financing described in subclause (I) above shall be applied to prepay the Loans in accordance with Section 3.3(c) below; PROVIDED, THAT, (x) no Default or Event of Default shall exist and be continuing at the time of such payment of the PIK Financing and (y) the Borrower shall have delivered to the Administrative Agent, prior to MSN Holdings making such payment of the PIK Financing, a certificate of its chief financial officer demonstrating that, upon giving effect on a pro forma basis to the application of the proceeds of such Qualified IPO to the payment of the PIK Financing, the Leverage Ratio as of the end of the fiscal quarter most recently ending prior to such Qualifying IPO is less than 2.75 to 1.0 and (B) if a Qualifying IPO is consummated after a date 12 months from the Closing Date but prior to a date 24 months from the Closing Date, (I) up to $60 million of the Net Cash Proceeds of such Qualifying IPO may first be used by MSN Holdings to make payments on the PIK Financing and (II) 50% of the remaining Net Cash Proceeds from such Qualifying IPO following the payment of the PIK Financing described in subclause (I) above shall be applied to prepay the Loans in accordance with Section 3.3(c) below; PROVIDED, THAT, (x) no Default or Event of Default shall exist and be continuing at the time of such payment of the PIK Financing and (y) the Borrower shall have delivered to the Administrative Agent, prior to MSN Holdings making such payment of the PIK Financing, a certificate of its chief financial officer demonstrating that, upon giving effect on a pro forma basis to the applicati...
Issuances of Equity. Immediately upon receipt by the Company or any Consolidated Subsidiary of proceeds from any Equity Issuance other than the Initial Hybrid Equity Transaction and Exempted Proceeds, the Borrowers shall apply 100% of the Net Cash Proceeds of such Equity Issuance as set forth in clause (v) below.
