Common use of Issuance of Equity Securities Clause in Contracts

Issuance of Equity Securities. On the date of receipt by Holdings or any of its Subsidiaries after the Effective Date of any Cash proceeds from a capital contribution to, or the issuance of any Capital Stock of, Holdings or any of its Subsidiaries (other than pursuant to any employee stock or stock option compensation plan), to the extent such proceeds are not used to pay Permitted Acquisition Expenses or, solely in the case of proceeds from Additional Sponsor Equity, Consolidated Capital Expenditures, Company shall prepay Loans and/or reduce Commitments as set forth in Section 2.16(b) in an aggregate amount equal to 75% of such remaining proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable fees and expenses of professional advisors; provided, during any period in which the Leverage Ratio (determined for any such period by reference to the most recent Compliance Certificate delivered pursuant to Section 5.1(d) calculating the Leverage Ratio) shall be 4.25:1.00 or less, Company shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to 50% of such net proceeds.

Issuance of Equity Securities. On No later than the first Business Day following the date of receipt by AZ Chem Investments Partners LP, AZ Chem Luxembourg Finance S.à.x.x or Holdings or any of its Subsidiaries after the Effective Date of any Cash proceeds from a capital contribution to, or the issuance of any Capital Stock Equity Interests of, AZ Chem Investments Partners LP, AZ Chem Luxembourg Finance S.à.x.x or Holdings or any of its Subsidiaries (other than (i) issuances pursuant to any employee stock or stock option compensation planplan and (ii) issuances to the Sponsor), to the extent such proceeds are not used to pay Permitted Acquisition Expenses or, solely in the case of proceeds from Additional Sponsor Equity, Consolidated Capital Expenditures, Company Borrowers shall prepay the Loans and/or reduce Commitments as set forth in Section 2.16(b2.15(b) in an aggregate amount equal to 7550% of such remaining proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses of professional advisorsexpenses; provided, during any period in which the Leverage Ratio (determined for any such period by reference to the most recent Compliance Certificate delivered pursuant to Section 5.1(d5.1(c) calculating the Leverage Ratio) recently shall be 4.25:1.00 3.50:1.00 or less, Company Borrowers shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to 5025% of such net proceeds.

Issuance of Equity Securities. On the date of receipt by Holdings or any of its Subsidiaries after the Effective Date of any Cash proceeds from a capital contribution to, or the issuance of any Capital Stock of, Holdings or to any Person other than any of its Subsidiaries (other than with respect to the receipt of any such proceeds pursuant to (i) any employee stock or stock option compensation plan, (ii) any Sponsor Equity Contributions or (iii) any equity issued by Holdings in connection with Permitted Acquisitions including, without limitation, any equity issued in connection with Section 6.9(f), to the extent such proceeds are not used to pay Permitted Acquisition Expenses or, solely in the case of proceeds from Additional Sponsor Equity, Consolidated Capital Expenditures), Company shall prepay the Loans and/or reduce Commitments as set forth in Section 2.16(b2.12(a) in an aggregate amount equal to 7550% of such remaining proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses of professional advisorsexpenses; provided, during any period in which the Leverage Ratio (determined for any such period by reference to the most recent Compliance Certificate delivered pursuant to Section 5.1(d) calculating the Leverage Ratio) shall be 4.25:1.00 2.50:1.00 or less, Company shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to 5025% of such net Cash proceeds.

Issuance of Equity Securities. On the date of receipt by Holdings or any of its Subsidiaries after the Effective Closing Date of any Cash proceeds from a capital contribution to, or the issuance of any Capital Stock of, Holdings or any of its Subsidiaries (other than pursuant to any employee stock or stock option compensation plan), to the extent such proceeds are not used to pay Permitted Acquisition Expenses or, solely in the case of proceeds from Additional Sponsor Equity, Consolidated Capital Expenditures, Company shall prepay Loans and/or reduce Commitments as set forth in Section 2.16(b) in an aggregate amount equal to 75% of such remaining proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable fees and expenses of professional advisors; providedPROVIDED, during any period in which the Leverage Ratio (determined for any such period by reference to the most recent Compliance Certificate delivered pursuant to Section 5.1(d) calculating the Leverage Ratio) shall be 4.25:1.00 or less, Company shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to 50% of such net proceeds.

Issuance of Equity Securities. On the date of receipt by Holdings or any of its Subsidiaries after the 2004 Effective Date of any Cash proceeds from a capital contribution to, or the issuance of any Capital Stock of, Holdings or any of its Subsidiaries (other than pursuant to any employee stock or stock option compensation plan), to the extent such proceeds are not used to pay Permitted Acquisition Expenses or, solely in the case of proceeds from Additional Sponsor Equity, Consolidated Capital Expenditures, Company shall prepay Loans and/or reduce Commitments as set forth in Section 2.16(b2.17(b) in an aggregate amount equal to 75% of such remaining proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable fees and expenses of professional advisors; provided, during any period in which the Leverage Ratio (determined for any such period by reference to the most recent Compliance Certificate delivered pursuant to Section 5.1(d5.1(c) calculating the Leverage Ratio) shall be 4.25:1.00 or less, Company shall only be required to make the prepayments and/or reductions otherwise required hereby in an amount equal to 50% of such net proceeds.