Common use of Equity Proceeds Clause in Contracts

Equity Proceeds. (a) The Company shall ensure that an aggregate amount equal to any Equity Proceeds is immediately applied in mandatory repayment and cancellation of the Facility in accordance with Clause 7.7 (Application of prepayments). (b) Paragraph (a) above shall not apply to Equity Proceeds received by a member of the Group from: (i) the issue of ordinary shares by the Company for the purposes of the share exchange pursuant to the Offer, the Squeeze-out or the Sell-out; or (ii) the issuance of shares by the Company to satisfy employee stock options and employee stock purchase plans. (c) For the purposes of this Agreement, “Equity Proceeds” means any amounts received or recovered by the Company or any member of the Group (other than from any other member of the Group) by way of issue or subscription for or other acquisition of any share capital in the Company or any member of the Group (whether or not redeemable) or the issue, subscription for or other acquisition of any warrants (or similar instruments for the subscription of any such share capital) or any instrument convertible or exchangeable into any share capital of the Company or any member of the Group.

Equity Proceeds. (a) The Company shall ensure that that, subject to Clause 7.7 (Application of prepayments), an aggregate amount equal to any Equity Proceeds is immediately applied in mandatory repayment and cancellation of the Facility in accordance with Clause 7.7 (Application of prepayments). (b) Paragraph (a) above shall not apply to Equity Proceeds received by a member of the Group from: (i) the issue of ordinary shares by the Company for the purposes of the share exchange pursuant to the Offer, the Squeeze-out or the Sell-out; or (ii) the issuance of shares by the Company to satisfy employee stock options and employee stock purchase plans. (c) For the purposes of this Agreement, “Equity Proceeds” means any amounts received or recovered by the Company or any member of the Group (other than from any other member of the Group) by way of issue or subscription for or other acquisition of any share capital in the Company or any member of the Group (whether or not redeemable) or the issue, subscription for or other acquisition of any warrants (or similar instruments for the subscription of any such share capital) or any instrument convertible or exchangeable into any share capital of the Company or any member of the Group.