Common use of Equity Proceeds Clause in Contracts

Equity Proceeds. Notwithstanding anything to contrary contained in Section 2.06(c), until such time as the Loan Parties have prepaid the Term Loans in the amount set forth in Section 2.03(b)(w), immediately (and in any event, within three (3) Business Days) upon any Equity Issuance, the Borrower shall prepay the outstanding amount of the Term Loans (plus all other Obligations due in connection with such prepayment) in an amount equal to not less than 100% of the Net Cash Proceeds received by such Person in connection therewith. The provisions of this Section 7.01(t) shall not be deemed to be implied consent to any such issuance, incurrence or sale otherwise prohibited by the terms and conditions of this Agreement.

Equity Proceeds. Notwithstanding anything to contrary contained in Section 2.06(c), until such time as the Loan Parties have prepaid the Term Loans in the amount set forth in Section 2.03(b)(w), immediately (and in any event, within three (3) Business Days) upon any Equity Issuance, the Borrower shall prepay the outstanding amount of the Term Loans (plus all other Obligations due in connection with such prepayment) in an amount equal to not less than 10080% of the Net Cash Proceeds received by such Person in connection therewith. The provisions of this Section 7.01(t) shall not be deemed to be implied consent to any such issuance, incurrence or sale otherwise prohibited by the terms and conditions of this Agreement.