Common use of Mandatory Redemption by the Issuer Clause in Contracts

Mandatory Redemption by the Issuer. Promptly, and in any event no later than the second (2nd) Business Day following the issuance or incurrence by the Issuer of any Indebtedness that would require the Issuer to redeem the Notes pursuant to Section 12, the Issuer shall redeem the Notes from the proceeds of such Indebtedness as follows: (i) the Issuer must redeem the principal and interest of the Notes pro rata among all Lenders in accordance with each Lender’s pro rata share of the aggregate outstanding principal or interest amount, as applicable, of the Notes; and (ii) the Issuer may not redeem any principal on any Notes unless it first redeems all of the PIK Interest on all Notes.

Mandatory Redemption by the Issuer. Promptly, and in any event no later than the second (2nd) Business Day Day, following the issuance or incurrence by the Issuer of any Indebtedness that would require the Issuer to redeem the Notes pursuant to Section 12, the Issuer shall redeem the Notes from the proceeds of such Indebtedness as follows: (i) the Issuer must redeem the principal and interest of the Notes pro rata among all Lenders in accordance with each Lender’s pro rata share of the aggregate outstanding principal or interest amount, as applicable, of the NotesNotes at the redemption price; and (ii) the Issuer may not redeem any principal on any Notes unless it first redeems all of the PIK Interest on all Notes.

Mandatory Redemption by the Issuer. Promptly, and in any event no later than the second (2nd) Business Day following the issuance or incurrence by the Issuer of any Indebtedness that would require the Issuer to redeem the Notes pursuant to Section 12, the Issuer shall redeem the Notes from the proceeds of such Indebtedness as follows: (i) the Issuer must redeem the principal and interest of the Notes pro rata among all Lenders in accordance with each Lender’s pro rata share of the aggregate outstanding principal or interest amount, as applicable, of the NotesNotes at the redemption price; and (ii) the Issuer may not redeem any principal on any Notes unless it first pays all accrued but unpaid Current Interest on the Notes being redeemed and redeems all of the PIK Interest on all Notes.