Examples of Equity Issuance in a sentence
Within five Business Days of (A) any issuance or incurrence by any Loan Party or any of its Subsidiaries (other than any Regulated Insurance Company) of any Indebtedness (other than Permitted Indebtedness) or (B) any Equity Issuance, the Borrower shall prepay the outstanding principal amount of the Term Loans in accordance with the terms hereof in an amount equal to 100% of the Net Cash Proceeds received by such Person in connection therewith.
The Borrower shall prepay Term Loans from (a) 100% of Net Cash Proceeds actually received by the Borrower or any of its Subsidiaries from Debt Issuances and (b) 100% of Net Cash Proceeds of any Equity Issuance actually received by the Borrower, in each case, within three (3) Domestic Business Days following actual receipt thereof.
The Borrower shall promptly (and not later than the date of receipt thereof) notify the Administrative Agent of the receipt by the Borrower or, as applicable, any Subsidiary or Domestic Subsidiary, of such Net Cash Proceeds from any Equity Issuance, Debt Issuance or Asset Sale, and such notice shall be accompanied by a reasonably detailed calculation of the Net Cash Proceeds.
No amount of the Specified Extraordinary Receipts or the Qualified Equity Issuance Proceeds received by the Issuer and counted for purposes of compliance with this Section 7.23 shall subsequently be designated as included in the definition of Specified Litigation Amount for any purpose under this Agreement.