Incurrence or Issuance of Indebtedness. Upon the incurrence or issuance by any Borrower Party of any Refinancing Notes, any Specified Refinancing Term Loans or any Indebtedness not expressly permitted to be incurred or issued pursuant to Section 7.01, the Borrower shall prepay an aggregate principal amount of Term Loan Tranches in an amount equal to 100.0% of all Net Cash Proceeds received therefrom within one (1) Business Day upon receipt thereof by such Borrower Party.
Appears in 3 contracts
Samples: Credit Agreement (Instructure Holdings, Inc.), Credit Agreement (Instructure Holdings, Inc.), Credit Agreement (Instructure Holdings, Inc.)
Incurrence or Issuance of Indebtedness. Upon the incurrence or issuance by any Borrower Party of any Refinancing Notes, any Specified Refinancing Term Loans or any Indebtedness not expressly permitted to be incurred or issued pursuant to Section 7.01, the Borrower Borrowers shall prepay an aggregate principal amount of Term Loan Tranches in an amount equal to 100.0% of all Net Cash Proceeds received therefrom within one (1) Business Day immediately upon receipt thereof by such Borrower Party.
Appears in 2 contracts
Samples: Credit Agreement (MeridianLink, Inc.), Credit Agreement (MeridianLink, Inc.)
