Common use of Capital Markets Clause in Contracts

Capital Markets. if any Borrower, BMEP, BMEH or BMEBV or any other Group Company shall enter into any Capital Markets Transaction then, subject to the following provisions of this clause 16.3.15, it shall apply or BMEH shall procure that there is applied, thirty per cent (30%) of the net proceeds of such Capital Markets Transaction to prepay (subject to payment of any broken funding costs) a commensurate amount of the then Total Outstandings, provided that, if the average Excess Availability during the period of six (6) months ending on the date upon which the Capital Markets Transaction is completed was in excess of L5,000,000, then the relevant issuer(s) shall not be obliged to apply such proceeds in prepayment in the manner prescribed by this clause 16.3.15; and

Appears in 2 contracts

Samples: Syndicated Credit Agreement (Bell Microproducts Inc), Syndicated Credit Agreement (Bell Microproducts Inc)

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Capital Markets. if any Borrower, BMEP, BMEH or BMEBV or any other Group Company shall enter into any Capital Markets Transaction then, subject to the following provisions of this clause 16.3.15Clause 16.3.15 (Capital Markets), it shall apply apply, or BMEH shall procure that there is applied, thirty per cent (30%) of the net proceeds of such Capital Markets Transaction to prepay (subject to payment of any broken funding costs) a commensurate amount of the then Total Outstandings, provided that, if the average Excess Availability during the period of six (6) months ending on the date upon which the Capital Markets Transaction is completed was in excess of L5,000,000£5,000,000, then the relevant issuer(s) shall not be obliged to apply such proceeds in prepayment in the manner prescribed by this clause 16.3.15; andClause 16.3.15 (Capital Markets);

Appears in 2 contracts

Samples: Ninth Supplemental Agreement (Bell Microproducts Inc), Tenth Supplemental Agreement (Bell Microproducts Inc)

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Capital Markets. if any Borrower, BMEP, BMEH BMEP or BMEBV or any other Group Company shall enter into any Capital Markets Transaction then, subject to the following provisions of this clause 16.3.15, it shall apply or BMEH BMEP shall procure that there is applied, thirty per cent (30%) of the net proceeds of such Capital Markets Transaction to prepay (subject to payment of any broken funding costs) a commensurate amount of the then Total Outstandings, provided that, if the average Excess Availability during the period of six (6) months ending on the date upon which the Capital Markets Transaction is completed was in excess of L5,000,000, then the relevant issuer(s) shall not be obliged to apply such proceeds in prepayment in the manner prescribed by this clause 16.3.15; and

Appears in 1 contract

Samples: Syndicated Credit Agreement (Bell Microproducts Inc)

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