Common use of Issuance of Debt or Equity Clause in Contracts

Issuance of Debt or Equity. If the Domestic Borrower or any of its Domestic Subsidiaries issues Capital Stock or any Domestic Loan Party issues Indebtedness (other than Indebtedness permitted by Sections 6.16(a), (c), (e) and (g)) or if any Domestic Loan Party receives any dividend or distribution from a Person other than a Loan Party, no later than the Business Day following the date of receipt of the Net Cash Proceeds of such issuance or receipt of such dividend, distribution, loan or advance, the Borrower shall prepay the Obligations in an amount equal to all such Net Cash Proceeds, dividends, distributions, loans or advances. Any such prepayment shall be applied first, to pay the principal of the Protective Advances and the Overadvances, second, to pay the principal of the Non-Ratable Loans, third, to pay the principal of the Loans without a concomitant reduction in the Aggregate Commitment, and fourth, to cash collateralize outstanding Domestic Facility LCs.

Issuance of Debt or Equity. If the Domestic any Borrower or any of its Domestic respective Subsidiaries issues Capital Stock (other than Common Stock) or any Domestic Loan Party issues Indebtedness (other than Indebtedness permitted by Sections 6.16(a), (c), (e) and (g)) Section 6.16 or if any Domestic Loan Party receives any dividend or distribution from a Person other than a Loan Party), no later than the Business Day following the date of receipt of the Net Cash Proceeds of such issuance or receipt of such dividend, distribution, loan or advance, the Borrower such Loan Party shall prepay the Obligations in an amount equal to all such Net Cash Proceeds, dividends, distributions, loans or advances. Any such prepayment shall be applied first, to pay the principal of the Protective Advances and the Overadvances, second, to pay the principal of the Non-Ratable Loans, third, to pay the principal of the Revolving Loans without a concomitant reduction in the Aggregate Revolving Commitment, and fourth, to cash collateralize outstanding Domestic Facility LCs.

Issuance of Debt or Equity. If the Domestic Borrower or any of its Domestic Subsidiaries issues Capital Stock or any Domestic Loan Party issues Indebtedness (other than Indebtedness permitted by Sections 6.16(a), (c), (e6.16(a),(c),(e) and (g)) or if any Domestic Loan Party receives any dividend or distribution from a Person other than a Loan Party, no later than the Business Day following the date of receipt of the Net Cash Proceeds of such issuance or receipt of such dividend, distribution, loan or advance, the Borrower shall prepay the Obligations in an amount equal to all such Net Cash Proceeds, dividends, distributions, loans or advances. Any such prepayment shall be applied first, to pay the principal of the Protective Advances and the Overadvances, second, to pay the principal of the Non-Ratable Loans, third, to pay the principal of the Loans without a concomitant reduction in the Aggregate Commitment, and fourth, to cash collateralize outstanding Domestic Facility LCs.

Issuance of Debt or Equity. If the Domestic Borrower or any of its Domestic Subsidiaries Holdings issues Capital Stock (other than any issuance pursuant to a DRIP or LTIP) or any Domestic Loan Party issues Indebtedness (other than Indebtedness permitted by Sections 6.16(a), (c), (e) and (g)) 6.17 or if any Domestic Loan Party receives any dividend or distribution from a Person other than a Loan Party, in each case, at any time that (i) Availability is less than $20,000,000 or (ii) a Default has occurred and is continuing, no later than the Business Day following the date of receipt of the any Net Cash Proceeds of such issuance or receipt of such dividend, distribution, loan or advance, the Borrower shall prepay the Obligations in an amount equal to all such Net Cash Proceeds, dividends, distributions, loans or advances. Any such prepayment shall be applied first, to pay the principal of the Protective Advances and the OveradvancesAdvances, second, to pay the principal of the Non-Non- Ratable Loans, third, to pay the principal of the Revolving Loans and Swingline Loans without a concomitant reduction in the Aggregate Commitment, and fourth, to cash collateralize outstanding Domestic Facility LCs.