Issuance of Permitted Unsecured Notes. Upon the issuance of any Permitted Unsecured Notes (other than Permitted Refinancing Indebtedness), the Borrowing Base shall be immediately reduced by an amount equal to the product of 0.25 multiplied by the stated principal amount of such Permitted Unsecured Notes on the date such Permitted Unsecured Notes are issued (without regard to any original issue discount).
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Samples: Credit Agreement (Southwestern Energy Co), Credit Agreement, Credit Agreement (Southwestern Energy Co)
Issuance of Permitted Unsecured Notes. Upon the issuance of any Permitted Unsecured Notes (other than (A) Permitted Refinancing IndebtednessIndebtedness in respect of non-revolving Indebtedness and (B) Revolver Prepayment Notes), the Borrowing Base shall be immediately reduced by an amount equal to the product of 0.25 multiplied by the stated principal amount of such Permitted Unsecured Notes on the date such Permitted Unsecured Notes are issued (without regard to any original issue discount).
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