Equity Transactions. Prepayment will be made on the Loans in an amount equal to fifty percent (50%) of the Net Cash Proceeds from any Equity Transactions on the Business Day following receipt thereof.
Equity Transactions. Immediately upon the occurrence of any Equity Transaction, the Borrower shall prepay the Loans and (after all Loans have been repaid) cash collateralize the LOC Obligations (in a manner satisfactory to the Agent) in an amount equal to 100% of the Net Proceeds of the related Equity Transaction (to be applied as set forth in Section 3.3(c) below).
Equity Transactions. Prepayment will be made on the Obligations in an amount equal to fifty percent (50%) of the Net Cash Proceeds from any Equity Transactions on the Business Day following receipt thereof; provided that no such payment shall be required under this clause (iv), if the Consolidated Leverage Ratio as of the period of the four Fiscal Quarters most recently ended for which the Borrower has delivered financial statements pursuant to Section 7.1 is less than or equal to 2.5:1.0.
Equity Transactions. The Borrower will make prepayment on the Loans and/or to a cash collateral account in respect of LOC Obligations in an amount equal to one hundred percent (100%) of the Net Proceeds received from any Equity Transaction (it being agreed that any such payments required in connection with the issuance of stock under stock incentive, stock option or other similar plans shall be made quarterly within sixty days following the end of each quarter).
Equity Transactions. (i) Notwithstanding anything in this Agreement to the contrary, to the extent that any such distribution does not violate the Indenture or the Holdco Notes Indenture (determined after giving effect to any amendment or waiver of any provision thereof in connection with the transactions contemplated hereby) the Company may either (x) distribute to the Seller a number of shares of North (“North Management Shares”) having a value, as reasonably determined by the Buyer, equal to the Management Equity Rollover Amount and, to the extent necessary to make such transaction a “Restricted Payment” for purposes of the Indenture, the Seller may redeem certain membership interests of the Company (whereupon such membership interests shall be canceled) and thereafter the Seller shall distribute such North Management Shares to certain of its unitholders that are members of Seller that are intending to acquire equity in the Buyer or its parent company (the “Rollover Management Unitholders”) in redemption of units of the Seller having a value, as reasonably determined by the Seller, equal to the Management Equity Rollover Amount or (y) distribute to the Rollover Management Unitholders a number of North Shares having a value, as reasonably determined by the Buyer, equal to the Management Equity Rollover Amount in exchange for units of Seller having a value, as reasonably determined by the Seller, equal to the Management Equity Rollover Amount. Prior to making any such distribution, the Company shall (A) have received reasonable assurance that the Rollover Management Unitholders have entered into an agreement with Buyer agreeing that at the Closing, such Rollover Management Unitholders will contribute the North Management Shares to Buyer or Buyer’s ultimate parent company (the “Ultimate Parent Company”) in exchange for equity securities of the Ultimate Parent Company having a value equal to the Management Equity Rollover Amount in a transaction intended to qualify as an exchange under Section 351(a) or Section 721 of the Code, and otherwise containing customary representations, warranties and covenants from the Ultimate Parent Company and such Rollover Management Unitholder regarding such exchange and (B) have ensured that the Rollover Management Unitholders have agreed in writing for the benefit of the Seller and its unitholders that, from and after the Closing, he or she agrees that the aggregate amount of cash to be distributed by Seller in respect of its outstanding units ...
Equity Transactions. Upon the terms and subject to the conditions of this Agreement, Seller agrees to cause the following transactions to occur:
Equity Transactions. No Company will
Equity Transactions. The aggregate amount of the Commitments (including for purposes hereof, the aggregate amount of the Revolving Commitments and the aggregate amount of the Term Loan then outstanding) shall be automatically and permanently reduced by an aggregate amount equal to 50% of the Net Proceeds received by the Borrower or any its Subsidiaries in connection with an Equity Transaction. The prepayments made pursuant to this subsection (ii) shall be applied as provided in subsection (iv) hereof. Any payment owing hereunder, whether in respect of the Revolving Loans or the Term Loan on account of any such reduction in Commitments under this subsection (ii) shall be made to the Agent promptly (but in any event within five (5) Business Days) following receipt by the Borrower or a Subsidiary of the Net Proceeds therefrom.
Equity Transactions. Prepayment will be made on the Loan Obligations in an amount equal to (A) seventy-five percent (75%) of the Net Cash Proceeds from Equity Transactions occurring after the Closing Date where the Consolidated Leverage Ratio will be greater than 3.5:1.0 after giving effect thereto on a Pro Forma Basis, and (B) fifty percent (50%) of Net Cash Proceeds from Equity Transactions occurring after the Closing Date where the Consolidated Leverage Ratio will be equal to or less than 3.5:1.0 after giving effect thereto on a Pro Forma Basis. Any prepayment in respect of an Equity Transaction hereunder will be payable on the Business Day following receipt thereof.
