Prepayments and Reductions Due to Issuance of Debt Securities. On the date of receipt by Borrower or any of its Restricted Subsidiaries of any Net Debt Proceeds from the issuance of any debt Securities or other forms of Indebtedness (other than the issuance of Indebtedness permitted under any of clauses (i) through (vii) or (ix) through (xiii) of Section 7.1) of Borrower after the Restatement Effective Date, Borrower shall prepay the Loans and/or cash collateralize the outstanding Letters of Credit in an aggregate amount equal to 100% or, in the case of issuances of debt Securities and other forms of Indebtedness permitted under Section 7.1(viii), 50% of such Net Debt Proceeds; provided, however, that such Net Debt Proceeds received by Borrower or any of its Restricted Subsidiaries from any issuance of any debt Securities or other forms of Indebtedness permitted under clause (viii) or (xiv) of Section 7.1 shall be excluded from the requirements of this subsection 2.4B(iii)(c) to the extent such proceeds are used to make a Permitted Acquisition that complies with Section 7.7(vii) within 180 days after receipt of such proceeds or within such 180-day period Borrower or any of its Restricted Subsidiaries enters into a binding agreement to make a Permitted Acquisition that complies with Section 7.7(vii); provided, further, that, to the extent any such Net Debt Proceeds are not used to make such a Permitted Acquisition within such 180-day period or Borrower or any of its Restricted Subsidiaries have not entered into a binding agreement to make such a Permitted Acquisition within such 180-day period or such proceeds are not used to make such a Permitted Acquisition in accordance with any such binding agreement, then such proceeds shall be applied to prepay the Loans and/or cash collateralize the outstanding Letters of Credit in an aggregate amount equal to 100% or, in the case of issuances of debt Securities and other forms of Indebtedness permitted under Section 7.1(viii), 50% of the amount of such Net Debt Proceeds.”
2.3 Section 7.6A. With effect as of the Third Amendment Effective Date, Section 7.6A of the Existing Credit Agreement is hereby amended and restated in its entirety as follows:
Prepayments and Reductions Due to Issuance of Debt Securities. One day following receipt by Company or any of its Subsidiaries of the Cash proceeds (any such proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses, being "NET DEBT SECURITIES PROCEEDS") from the issuance of any debt Securities of Company or any of its Subsidiaries (other than any Indebtedness permitted by subsection 7.1), Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to such Net Debt Securities Proceeds.
Prepayments and Reductions Due to Issuance of Debt Securities. No later than the first Business Day following receipt by Company or any of its Subsidiaries of the Cash proceeds (any such Cash proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses, being "Net Debt Securities Proceeds"), from the issuance of debt Securities of Company or any of its Subsidiaries after the Closing Date (including the Net Debt Securities Proceeds of Indebtedness permitted under subsection 7.1(x) but excluding the Net Debt Securities Proceeds of Indebtedness permitted under subsection 7.1 as in effect on the Closing Date (other than subsection 7.1(x)), Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 100% of such Net Debt Securities Proceeds.
Prepayments and Reductions Due to Issuance of Debt Securities. On the date of receipt by Company or any of its Subsidiaries of the Cash proceeds (any such cash proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses, being "NET DEBT SECURITIES PROCEEDS"), from the issuance of debt Securities of Company or any of its Subsidiaries (other than Indebtedness permitted by subsection 7.1) after the Initial Funding Date, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to such Net Debt Securities Proceeds.
Prepayments and Reductions Due to Issuance of Debt Securities. No later than the first Business Day following the date of receipt by the Borrower or any of its Wholly-Owned Subsidiaries of the cash proceeds (net of underwriting discounts and commissions and other reasonable costs associated therewith) from the issuance of any debt Securities of the Borrower or any of its Wholly-Owned Subsidiaries, respectively, the Borrower shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 100% of such net cash proceeds. Concurrently with any prepayment of the Loans and/or reduction of the Revolving Loan Commitments pursuant to this Section 4.02(c)(i), the Borrower shall deliver to Agent an Officers' Certificate demonstrating the calculation of the net cash proceeds that gave rise to such prepayment and/or reduction. In the event that the Borrower shall subsequently determine that the actual net cash proceeds were greater than the amount set forth in such Officers' Certificate, the Borrower shall promptly make an additional prepayment of the Loans (and/or, if applicable, the Revolving Loan Commitments shall be permanently reduced) in an amount equal to the amount of such excess, and the Borrower shall concurrently therewith deliver to Agent an Officers' Certificate demonstrating the derivation of the additional net cash proceeds resulting in such excess.
Prepayments and Reductions Due to Issuance of Debt Securities. No later than the first Business Day following the date of receipt by Company or any of its Subsidiaries of the Cash proceeds (any such proceeds, net of underwriting discounts, similar placement fees and commissions and other reasonable costs and expenses associated therewith, being the "NET DEBT PROCEEDS") from the issuance of any debt Securities of Company or any such Subsidiary (other than the issuance of Indebtedness permitted pursuant to subsection 7.1 as in effect on the Closing Date), Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an amount equal to such Net Debt Proceeds; provided that to the extent that after giving effect to any such issuances of debt Securities of Company or any such Subsidiary and any prepayment of the Loans from the proceeds thereof, the Leverage Ratio is less than 2.50:1.00, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an amount equal to 50% of such Net Debt Proceeds.
Prepayments and Reductions Due to Issuance of Debt Securities. On the date of receipt by Company of the Net Securities Proceeds from the issuance of any debt Securities of Company after the Effective Date (other than as permitted pursuant to subsection 7.1 (i)-(viii)), Company shall prepay the Loans and/or the Revolving Loan Commitments and/or the Acquisition Term Loan Commitments shall be permanently reduced in an aggregate amount equal to such Net Securities Proceeds.
Prepayments and Reductions Due to Issuance of Debt Securities. On the first Business Day following receipt by Parent or any of its Subsidiaries of the Cash proceeds (any such proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses, being "NET DEBT SECURITIES PROCEEDS") from the issuance of any debt Securities of Parent or any of its Subsidiaries (other than Indebtedness permitted pursuant to subsection 7.1), Borrower shall prepay the Loans and/or the Revolving Loan Commitments and/or the LC Facility Commitment, as the case may be, shall be permanently reduced in an aggregate amount equal to such Net Debt Securities Proceeds.
Prepayments and Reductions Due to Issuance of Debt Securities. On the date of receipt by Borrower or any of its Restricted Subsidiaries of any Net Debt Proceeds from the issuance of any debt Securities (other than the issuance of Indebtedness permitted under subsections 7.1(i)-(vii), (ix), (x) and (xi)), of Borrower after the Effective Date, Borrower shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 50% of such Net Debt Proceeds.
Prepayments and Reductions Due to Issuance of Debt Securities. On the date of receipt by Borrower or any of its Restricted Subsidiaries of any Net Debt Proceeds from the issuance of any debt Securities (other than the issuance of Indebtedness permitted under subsections 7.1(i)-(vii), (ix), (x) and (xi)) of Borrower after the Closing Date, Borrower shall prepay the Loans and/or cash collateralize the outstanding Letters of Credit in an aggregate amount equal to 100% or, in the case of issuances of Indebtedness permitted under subsection 7.1(viii), 50% of such Net Debt Proceeds; provided that in the case of the issuance of any debt Securities pursuant to subsection 7.1(viii), the initial $300,000,000 of such Net Debt Proceeds issued during the term of this Agreement shall not be subject to this subsection 2.4B(iii)(c).
