Common use of Mandatory Prepayment of Loans Clause in Contracts

Mandatory Prepayment of Loans. (a) Within five (5) Business Days of receipt by the Borrower or any of its Subsidiaries of any Net Proceeds from the incurrence of any Indebtedness of the Borrower or such Subsidiary not permitted to be incurred pursuant to Section 6.02, the Borrower shall deposit an amount equal to 100% of such Net Proceeds into a Controlled Account to be applied (to the extent not otherwise applied pursuant to the immediately succeeding proviso) to repay the Term Loans; provided that, subject to Section 2.09(e), the Borrower may use a portion of the Net Proceeds to prepay or repurchase any other Indebtedness permitted hereunder to the extent that the documentation governing such other Indebtedness requires such a prepayment or repurchase thereof with such Net Proceeds, in each case in an amount not to exceed the product of (1) such Net Proceeds and (2) a fraction, the numerator of which is the outstanding principal amount of such other Indebtedness and the denominator of which is the aggregate outstanding amount of Term Loans and such other Indebtedness.

Mandatory Prepayment of Loans. (a) Within five Prior to the Conversion Date, within (5) Business Days of receipt by the Borrower or any of its Subsidiaries Loan Party of any Net Proceeds from the incurrence of any Indebtedness of the Borrower or such Subsidiary Loan Party not permitted to be incurred pursuant to Section 6.02, the Borrower Borrowers shall deposit an amount equal to 100% of such Net Proceeds into a the Disbursement Account or another Controlled Account to be applied (to the extent not otherwise applied pursuant to the immediately succeeding proviso) to repay the Term Loans; provided that, subject to Section 2.09(e2.09(d), the Borrower Borrowers may use a portion of the Net Proceeds to prepay or repurchase any other Indebtedness permitted hereunder to the extent that and the documentation governing such other Indebtedness requires such a prepayment or repurchase thereof with such Net Proceeds, in each case in an amount not to exceed the product of (1) such Net Proceeds and (2) a fraction, the numerator of which is the outstanding principal amount of such other Indebtedness and the denominator of which is the aggregate outstanding amount of Term Loans and such other Indebtedness.

Mandatory Prepayment of Loans. (a) Within five Prior to the Conversion Date, within (5) Business Days of receipt by the Borrower or any of its Subsidiaries Loan Party of any Net Proceeds from the incurrence of any Indebtedness of the Borrower or such Subsidiary Loan Party not permitted to be incurred pursuant to Section ‎Section 6.02, the Borrower Borrowers shall deposit an amount equal to 100% of such Net Proceeds into a the Disbursement Account or another Controlled Account to be applied (to the extent not otherwise applied pursuant to the immediately succeeding proviso) to repay the Term Loans; provided that, subject to Section 2.09(e‎Section 2.09(d), the Borrower Borrowers may use a portion of the Net Proceeds to prepay or repurchase any other Indebtedness permitted hereunder to the extent that and the documentation governing such other Indebtedness requires such a prepayment or repurchase thereof with such Net Proceeds, in each case in an amount not to exceed the product of (1) such Net Proceeds and (2) a fraction, the numerator of which is the outstanding principal amount of such other Indebtedness and the denominator of which is the aggregate outstanding amount of Term Loans and such other Indebtedness.