Affiliate Subordinated Indebtedness. (a) The Borrowers may at any time after the date hereof incur Affiliate Subordinated Indebtedness to Mediacom or one or more other Affiliates, so long as the proceeds of any such Affiliate Subordinated Indebtedness constituting Cure Monies are immediately applied to the reduction of the Revolving Credit Commitments and the prepayment of principal of the Term Loans hereunder, applied ratably to the Revolving Credit Commitments and Term Loans of each Class in accordance with the respective then-outstanding aggregate amounts of such Commitments and Loans (and to the simultaneous prepayment of the Revolving Credit Loans in an amount equal to such required reduction of Revolving Credit Commitments), provided that to the extent any such required prepayment of -------- Revolving Credit Loans shall exceed the then-outstanding aggregate principal amount of Revolving Credit Loans, such excess shall be applied to the prepayment of Term Loans. (b) The Borrowers will not, nor will it permit any of their Subsidiaries to, purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment of the principal of or interest on, or any other amount owing in respect of, any Affiliate Subordinated Indebtedness or the Booth Subordinated Indebtedness, except (in the case of Affiliate Subordinated Indebtedness) to the extent permitted under Section 8.09 hereof.
Appears in 2 contracts
Samples: Credit Agreement (Mediacom Capital Corp), Credit Agreement (Mediacom LLC)
Affiliate Subordinated Indebtedness. (a) The Borrowers Borrower may at any time after the date hereof incur Affiliate Subordinated Indebtedness to Mediacom or one or more other Affiliates, so long as the proceeds of any such Affiliate Subordinated Indebtedness constituting Cure Monies are immediately applied to the reduction of the Revolving Credit Commitments and the prepayment of principal of the Term Loans and Incremental Facility Loans of each Series hereunder, applied ratably to the Revolving Credit Commitments Commitments, the Term Loans and Term the Incremental Facility Loans of each Class Series in accordance with the respective then-outstanding aggregate amounts of such Commitments and Loans (and to the simultaneous prepayment of the Revolving Credit Loans in an amount equal to such required reduction of Revolving Credit Commitments), provided that to the extent any such required prepayment of -------- Revolving Credit Loans shall exceed the then-outstanding aggregate principal amount of Revolving Credit Loans, such excess shall be applied to the ratable prepayment of Term LoansLoans and Incremental Facility Loans of each Series.
(b) The Borrowers Borrower will not, nor will it permit any of their its Subsidiaries to, purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment of the principal of or interest on, or any other amount Credit Agreement ---------------- owing in respect of, any Affiliate Subordinated Indebtedness or the Booth Subordinated Indebtedness, except (in the case of Affiliate Subordinated Indebtedness) to the extent permitted under Section 8.09 hereof.
Appears in 2 contracts
Samples: Credit Agreement (Mediacom LLC), Credit Agreement (Mediacom LLC)
Affiliate Subordinated Indebtedness. (a) The Borrowers may at any time ----------------------------------- after the date hereof incur Affiliate Subordinated Indebtedness to Mediacom Broadband or one or more other Affiliates, so long as the proceeds of any such Affiliate Subordinated Indebtedness constituting Cure Monies are immediately applied to the reduction of the Revolving Credit Commitments and the prepayment of principal of the Term Loans and Incremental Facility Loans of each Series hereunder, applied ratably to the Revolving Credit Commitments Commitments, the Term Loans and Term the Incremental Facility Loans of each Class Series in accordance with the respective then-outstanding aggregate amounts of such Commitments and Loans (and to the simultaneous prepayment of the Revolving Credit Loans Loans, and cover for Letter of Credit Liabilities, in an amount equal to such required reduction of Revolving Credit Commitments), provided that to the extent any such required -------- prepayment of -------- Revolving Credit Loans shall exceed the then-outstanding aggregate principal amount of Revolving Credit Loans, such excess shall be applied to the ratable prepayment of Term Loans.
(b) The Borrowers will not, nor will it permit any Loans and Incremental Facility Loans of their Subsidiaries to, purchase, redeem, retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment each Series. Prepayments of the principal Term Loans and Incremental Facility Loans of or interest on, or any other amount owing in respect of, any Affiliate Subordinated Indebtedness or the Booth Subordinated Indebtedness, except (in the case of Affiliate Subordinated Indebtedness) each Series shall be applied to the extent permitted under Section 8.09 hereofrespective installments thereof ratably in accordance with the respective principal amounts thereof.
Appears in 1 contract