MANDATORY PREPAYMENTS FROM NEW EQUITY Sample Clauses

MANDATORY PREPAYMENTS FROM NEW EQUITY. In the event that the Borrower or any of its Subsidiaries shall, after the first anniversary of the Closing Date, sell or issue any shares of their stock, options or warrants for the purchase of its stock or other equity or equity instruments (other than (i) stock, warrants and options awarded to employees and directors pursuant to incentive compensation plans operated by such Persons and (ii) equity and equity instruments issued to the Borrower or any of its Subsidiaries) in an aggregate amount of Net Cash Proceeds for all such sales after the first anniversary of the Closing Date, in excess of $20,000,000, then, immediately upon the receipt thereof, the Borrower shall, or shall cause such Subsidiary to, repay the Obligations in an amount equal to fifty percent (50%) of the Net Cash Proceeds of such sale or issuance of new equity in excess of $20,000,000, such repayment of the Obligations to be in the manner set forth in Section 2.9(a). Simultaneously with any such required repayment, the Total Commitment shall be automatically and permanently reduced by an amount equal to the amount of Obligations so repaid or required to be repaid.
Sample 1
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MANDATORY PREPAYMENTS FROM NEW EQUITY. In the event that any member of the TransTechnology Group shall after the Closing Date sell or issue any shares of its stock, options (other than stock options awarded to employees and directors pursuant to incentive compensation plans operated by members of the TransTechnology Group) or warrants for the purchase of its stock or other equity or equity instruments, then as soon as practicable and in any event within thirty (30) days after the sale of such new equity, TransTechnology shall prepay the Loans in an amount equal to at least fifty percent (50%) of the Net Cash Proceeds to the TransTechnology Group of such sale or issuance of new equity.
Sample 1
MANDATORY PREPAYMENTS FROM NEW EQUITY. In the event that any member of the TransTechnology Group shall after the Closing Date sell or issue any shares of its stock, options (other than stock options awarded to employees and directors pursuant to incentive compensation plans operated by members of the TransTechnology Group) or warrants for the purchase of its stock or other equity or equity instruments, then, so long as the Leverage Ratio on the date of completion of such sale or issuance (without giving effect to such sale or issuance or the application of proceeds thereof) is greater than 3.25:1, TransTechnology shall prepay the Term Loan as soon as practicable and in any event within thirty (30) days after the completion of the sale or issuance of such new equity in an amount equal to 100% of the Net Cash Proceeds to the TransTechnology Group of such sale or issuance of new equity.
Sample 1
MANDATORY PREPAYMENTS FROM NEW EQUITY. In the event that the Borrower shall after the Closing Date sell or issue any shares of its stock, options or warrants for the purchase of its stock or other equity or equity instruments (in each case other than (i) stock options or warrants to acquire stock awarded to employees and directors pursuant to incentive compensation plans or agreements with such Persons in an aggregate amount for all such options and warrants not to exceed $250,000, or (ii) stock issued to a seller party to, and as consideration for, a Permitted Acquisition), then the Borrower shall, or shall cause 57 -50- such Subsidiary to, immediately prepay the Loans in accordance with Section 8.4 in an amount equal to one hundred percent (100%) of the Net Cash Proceeds of such sale or issuance of new equity.
Sample 1
MANDATORY PREPAYMENTS FROM NEW EQUITY. In the event that the Borrower or any of its Subsidiaries shall, after the Amendment No. 1 Effective Date, sell or issue any shares of their stock, options or warrants for the purchase of its stock or other equity or equity instruments (other than stock, warrants and options awarded to employees and directors pursuant to incentive compensation plans operated by such Persons), then, immediately upon the receipt thereof, the Borrower shall, or shall cause such Subsidiary to, repay the Obligations in an amount equal to one hundred percent (100%) of the Net Cash Proceeds of such sale or issuance of new equity, such repayment of the Obligations to be in the manner set forth in ss.2.9(a). Simultaneously with any such required repayment, the Maximum Availability Amount shall be automatically and permanently reduced by an amount equal to the amount of Obligations so repaid or required to be repaid.
Sample 1
MANDATORY PREPAYMENTS FROM NEW EQUITY. In the event that the Borrower or any of its Subsidiaries shall, after the Effective Date, sell or issue any shares of their stock, options or warrants for the purchase of its stock or other equity or equity instruments (other than stock, warrants and options awarded to employees and directors pursuant to incentive compensation plans operated by such Persons), then, immediately upon the receipt thereof, the Borrower shall, or shall cause such Subsidiary to, repay the Obligations in an amount equal to fifty percent (50%) of the Net Cash Proceeds of such sale or issuance of new equity, such repayment of the Obligations to be in the manner set forth in ss.2.9(a). Simultaneously with any such required repayment, the Total Commitment shall be automatically and permanently reduced by an amount equal to the amount of Obligations so repaid or required to be repaid.
Sample 1
MANDATORY PREPAYMENTS FROM NEW EQUITY. In the event ------------------------------------- that the Borrower shall after the Closing Date sell or issue any shares of its stock, options (other than stock options awarded to employees and directors pursuant to incentive compensation plans operated by the Borrower involving not more than 15% of the common stock of the Borrower) or warrants for the purchase of its stock or other equity or equity instruments, then as soon as practicable and in any event within thirty (30) days after the sale of such new equity, the Borrower shall prepay the Loans in an amount equal to one hundred percent (100%) of the Net Cash Proceeds to the Borrower of such sale or issuance of new equity.
Sample 1
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Related to MANDATORY PREPAYMENTS FROM NEW EQUITY

  • Mandatory Prepayments (a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such Allocated Proceeds shall be applied on the fifth Business Day after the date such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding.

  • Mandatory Prepayment of Loans (a) Subject to Section 2.06(c), on the date of receipt by the Borrower or any Restricted Subsidiary (or affiliate thereof) of any Net Cash Proceeds, the Borrower shall prepay the Loans in an aggregate amount equal to such Net Cash Proceeds (together with any amounts due pursuant to Section 2.07 or Section 2.09); provided that the Borrower shall have no obligation to prepay the Loans (i) to the extent that such Net Cash Proceeds are attributable to a Disposition permitted by clauses (a), (c), (e), (f), (g), (h) and (j) of Section 7.04, (ii) to the extent that such Net Cash Proceeds for any Disposition are not in excess of $1,000,000 individually or $10,000,000 in the aggregate for all such Dispositions or (iii) with respect to any Casualty Event or any Disposition permitted pursuant to clause (k) (but only with respect to Dispositions of Core Assets that were acquired by the Borrower or any Restricted Subsidiary following the Availability Date (it being understood that any Net Cash Proceeds received from other Dispositions pursuant to clause (k) shall not be able to be reinvested pursuant to this clause (iii)) and clause (l) of Section 7.04, if, within 365 days after receipt of such Net Cash Proceeds, the Borrower uses such Net Cash Proceeds to purchase, or otherwise reinvests such Net Cash Proceeds in, Oil and Gas Interests useful in the business of the Credit Parties (in each case, as certified by the Borrower in a certificate of a Responsible Officer delivered to the Administrative Agent and the Lead Lender); provided further that, if all or any portion of such Net Cash Proceeds are not so reinvested within the time period specified (or such earlier date, if any, as the applicable Credit Party determines not to reinvest such Net Cash Proceeds as set forth above), such remaining portion shall be applied on the last date of such period (or such earlier date, as the case may be) as provided in this Section 2.06(a) without regard to this proviso.

  • Other Mandatory Prepayments In addition to and without limiting any provision of any Loan Document:

  • Mandatory Prepayments Commitment Reductions 53 2.13 Application of Prepayments/Reductions............................................................................... 55 2.14 Allocation of Certain Payments and Proceeds......................................................................... 56 2.15

  • Mandatory Prepayments of Loans If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans, and, third, to Cash Collateralize the remaining L/C Obligations; and Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.

  • Mandatory Prepayments and Commitment Reductions 28 2.11 Conversion and Continuation Options............................... 29 2.12 Minimum Amounts and Maximum Number of Eurodollar Tranches......... 30 2.13 Interest Rates and Payment Dates.................................. 30 2.14 Computation of Interest and Fees.................................. 30 2.15 Inability to Determine Interest Rate.............................. 31 2.16 Pro Rata Treatment and Payments................................... 31 2.17

  • Prepayments, Etc of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness, except (a) the prepayment of the Credit Extensions in accordance with the terms of this Agreement and (b) regularly scheduled or required repayments or redemptions of Indebtedness set forth in Schedule 7.03 and refinancings and refundings of such Indebtedness in compliance with Section 7.03(b).

  • Voluntary prepayment of Loans The Borrower to which a Loan has been made may, if it gives the Agent not less than five (5) Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of a Loan (but if in part, being an amount that reduces the Loan by a minimum amount of ten million dollars ($10,000,000)).

  • Voluntary Prepayments Commitment Reductions (a) Prior to the Stated Maturity Date, the Borrower may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided, however, that:

  • Voluntary prepayment of Loan (a) The Borrowers may, if they give the Facility Agent not less than 15 Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of the Loan (but, if in part, being an amount that reduces the amount of the Loan by a minimum amount of $500,000 or a multiple of that amount).

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