Common use of Net Cash Proceeds of Issuance of Capital Securities Clause in Contracts

Net Cash Proceeds of Issuance of Capital Securities. The Borrower shall prepay the Term Loan in an amount equal to 100% of the Net Cash Proceeds if, after the Closing Date, the Borrower or any Subsidiary shall receive Net Cash Proceeds from any issuance of Capital Securities of any Loan Party (excluding (x) any issuance of Capital Securities pursuant to any employee or director option program, benefit plan or compensation program and (y) any issuance by a Subsidiary to the Borrower or another Loan Party) if a Default or Event of Default then exists or would result therefrom. The Borrower acknowledges that its performance hereunder shall not limit the rights and remedies of the Loan Parties for any breach of the terms of this Agreement or the other Loan Documents.

Net Cash Proceeds of Issuance of Capital Securities. The Borrower shall prepay the Term Loan Loans in an amount equal to 100% of the Net Cash Proceeds Modified Ratable Portion if, after the Closing Date, the Borrower or any Subsidiary shall receive Net Cash Proceeds from any issuance of Capital Securities of any Loan Party (excluding (x) any issuance of Capital Securities pursuant to any employee or director option program, benefit plan or compensation program and (y) any issuance by a Subsidiary to the Borrower or another Loan Party) if that gives rise to a Modified Ratable Portion and a Default or Event of Default then exists or would result therefrom. The Borrower acknowledges that its performance hereunder shall not limit the rights and remedies of the Loan Parties for any breach of the terms of this Agreement or the other Loan Documents.

Net Cash Proceeds of Issuance of Capital Securities. The Borrower shall the prepay the Term Loan Loans in an amount equal to 100% of the Net Cash Proceeds Modified Ratable Portion if, after the Closing Date, the Borrower or any Subsidiary shall receive Net Cash Proceeds from any issuance of Capital Securities of any Loan Party (excluding (x) any issuance of Capital Securities pursuant to any employee or director option program, benefit plan or compensation program and (y) any issuance by a Subsidiary to the Borrower or another Loan Party) if that gives rise to a Modified Ratable Portion and a Default or Event of Default then exists or would result therefromexists. The Borrower acknowledges that its performance hereunder shall not limit the rights and remedies of the Loan Parties for any breach of the terms of this Agreement or the other Loan Documents.