Excess Cashflow Sweep. (a) Within 150 days following the end of each financial year of Oi, commencing with the financial year ending on the 31 December following the Ratification Date, the Borrower shall be required (i) to calculate the Cash Sweep Amount for such financial year based on Oi’s annual audited consolidated financial statements for such financial year and (ii) to use the Cash Sweep Amount, in accordance with Section 5.4 (Generation of Cash Sweep) of the RJ Plan, to redeem a portion of the Loan and to redeem, repurchase or repay, as applicable, a portion of the Indebtedness of certain of Oi's other creditors that was issued in connection with the approval of the RJ Plan Amendment and confirmation (homologação judicial) by the Bankruptcy Court (together with the Loan, the “Cash Sweep Debt”), which redemption, repurchase or repayment shall be made pro rata across the Cash Sweep Debt in accordance with Section 5.4 (Generation of Cash Sweep) of the RJ Plan Amendment, based on the outstanding principal amount of all such credits outstanding as of the end of the applicable financial year for which such Cash Sweep Amount has been calculated (each such redemption, repurchase or repayment, a “Cash Flow Sweep”).
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Samples: Facility Agreement (OI S.A. - In Judicial Reorganization), Facility Agreement, Facility Agreement
Excess Cashflow Sweep. (a) Within 150 days following the end of each financial year of Oi, commencing with the financial year ending on the 31 December following the Ratification Date, the Borrower shall be required (i) to calculate the Cash Sweep Amount for such financial year based on Oi’s annual audited consolidated financial statements for such financial year and (ii) to use the Cash Sweep Amount, in accordance with Section 5.4 5.5 (Generation of Cash Sweep) of the RJ Plan, to redeem a portion of the Loan and to redeem, repurchase or repay, as applicable, a portion of the Indebtedness of certain of Oi's other creditors that was issued in connection with the approval of the RJ Plan Amendment and confirmation (homologação judicial) by the Bankruptcy Court (together with the Loan, the “Cash Sweep Debt”), which redemption, repurchase or repayment shall be made pro rata across the Cash Sweep Debt in accordance with Section 5.4 5.5 (Generation of Cash Sweep) of the RJ Plan Amendment, based on the outstanding principal amount of all such credits outstanding as of the end of the applicable financial year for which such Cash Sweep Amount has been calculated (each such redemption, repurchase or repayment, a “Cash Flow Sweep”).
Appears in 1 contract
Samples: Facility Agreement