Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate amount equal to fifty percent (50%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (vii) below).
Appears in 2 contracts
Samples: Credit Agreement (New Century Transportation, Inc.), Credit Agreement (Riviera Holdings Corp)
Issuances of Equity. Immediately upon receipt by any Credit Consolidated Party or any of its Subsidiaries of proceeds from any Equity Issuance (other than any Excluded Equity Issuance), the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations pursuant to Section 2.3(l) in an aggregate amount equal to fifty percent (50%) 100% of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (vii) below)Issuance.
Appears in 1 contract
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans and/or cash collateralize Cash Collateralize the LOC Obligations in an aggregate amount equal to fifty percent (50%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (vii) below).
Appears in 1 contract
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance, the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate amount equal to fifty one hundred percent (50100%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (viiv) below).
Appears in 1 contract
Samples: Credit Agreement (Benihana Inc)
Issuances of Equity. Immediately upon receipt by any Credit Party or any of its Subsidiaries of proceeds from any Equity Issuance (other than any Excluded Equity Issuance), the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate amount equal to fifty one hundred percent (50100%) of the Net Cash Proceeds of such Equity Issuance (such prepayment to be applied as set forth in clause (vii) below).
Appears in 1 contract
Samples: Credit Agreement (Eclipsys Corp)
