Common use of Equity and Debt Issuances Clause in Contracts

Equity and Debt Issuances. Upon receipt on or after the Closing Date by any Loan Party or any of its Subsidiaries of Net Cash Proceeds arising from: (i) the issuance or Sale by the Issuer of its own Stock or Stock Equivalent (other than any issuance of common Stock or Stock Equivalent of the Issuer occurring in the ordinary course of business to any director, member of the management or employee of the Issuer or its Subsidiaries and Excluded Stock Issuances), the Issuer shall immediately pay or cause to be paid to the Purchasers an amount equal to 100% of such Net Cash Proceeds, provided, however, that no mandatory prepayment shall be required for Stock issued in accordance with Section 8.4(f)(i) (x) at any time prior to June 1, 2010, and (y) subsequent to June 1, 2010, so long as immediately prior to any such payment under this clause (y), the Consolidated Total Leverage Ratio shall not be greater than 0.25% less than the then-applicable covenant level under Section 5.1; or (ii) the incurrence by any Loan Party or any of its Subsidiaries of Indebtedness of the type specified in clause (a) or (b) of the definition thereof (other than any such Indebtedness permitted hereunder in reliance upon any of clauses (a) through (m) of Section 8.1), the Issuer shall immediately pay or cause to be paid to the Purchasers an amount equal to 100% of such Net Cash Proceeds.

Equity and Debt Issuances. Upon receipt on or after the Closing Date by any Loan Party or any of its Subsidiaries of Net Cash Proceeds arising from: from (i) the issuance or Sale by the Issuer Borrower of its own Stock or Stock Equivalent (other than any issuance of common Stock or Stock Equivalent of the Issuer Borrower occurring in the ordinary course of business to any director, member of the management or employee of the Issuer Borrower or its Subsidiaries and Excluded Stock Issuances), the Issuer Borrower shall immediately pay or cause to be paid to the Purchasers Administrative Agent an amount equal to 100% of such Net Cash Proceeds, provided, however, that no mandatory prepayment shall be required for Stock issued in accordance with Section 8.4(f)(i8.4(f) (xa) at any time prior to June 1, 2010, and (yb) subsequent to June 1, 2010, 2010 so long as immediately prior to any such payment under this clause (y)payment, the Borrower’s Consolidated Total Leverage Ratio shall not be greater than 0.25% 0.25x less than the then-applicable covenant level under Section 5.1; or 5.1 or (ii) the incurrence by any Loan Party or any of its Subsidiaries of Indebtedness of the type specified in clause (a) or (b) of the definition thereof (other than any such Indebtedness permitted hereunder in reliance upon any of clauses (a) through (m) of Section 8.1), the Issuer Borrower shall immediately pay or cause to be paid to the Purchasers Administrative Agent an amount equal to 100% of such Net Cash Proceeds.

Equity and Debt Issuances. Upon receipt on or after the Closing Date by any Loan Party or any of its Subsidiaries of Net Cash Proceeds arising from: from (i) the issuance or Sale by the Issuer Borrowers of its their own Stock or Stock Equivalent (other than any issuance of common Stock or Stock Equivalent of the Issuer Borrowers occurring in the ordinary course of business to any director, member of the 42 AMENDED AND management or employee of the Issuer Borrowers or its their Subsidiaries and Excluded Stock Issuances), the Issuer Borrowers shall immediately pay or cause to be paid to the Purchasers Administrative Agent an amount equal to 100% of such Net Cash Proceeds, provided, however, that no mandatory prepayment shall be required for Stock issued in accordance with Section 8.4(f)(i8.4(f) (x) at any time prior to June 1, 2010, and (y) subsequent to June 1, 2010, so long as immediately prior to any such payment under this clause (y)payment, the Consolidated Total Leverage Ratio of TPR shall not be greater than 0.25% 0.25x less than the then-applicable covenant level under Section 5.1; or 5.1 or (ii) the incurrence by any Loan Party or any of its Subsidiaries of Indebtedness of the type specified in clause (a) or (b) of the definition thereof (other than any such Indebtedness permitted hereunder in reliance upon any of clauses (a) through (m) of Section 8.1), the Issuer Borrowers shall immediately pay or cause to be paid to the Purchasers Administrative Agent an amount equal to 100% of such Net Cash Proceeds.