Common use of Prepayments and Reductions Due to Issuance of Debt Clause in Contracts

Prepayments and Reductions Due to Issuance of Debt. On or prior -------------------------------------------------- to the first Business Day after receipt by Company or any of its Subsidiaries of any proceeds of any Indebtedness (other than the Loans and any other Indebtedness permitted under subsection 7.1(i), (ii), (iii), (iv), (v), (vii) or (viii)), Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to the amount of such proceeds; provided, however, that such proceeds from -------- ------- Indebtedness permitted under subsection 7.1(vi) shall not be applied to prepay Loans pursuant to this subsection if and to the extent such proceeds are applied by Company to repay the Indebtedness with respect to the Subordinated Notes; and provided further, that payment or acceptance of the -------- ------- amounts provided for in this subsection 2.4B(iii)(b) shall not constitute a waiver of any Event of Default resulting from the incurrence of such Indebtedness or otherwise prejudice any rights or remedies of Agents or Lenders.

Appears in 1 contract

Samples: Credit Agreement (Aurora Foods Inc /De/)

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Prepayments and Reductions Due to Issuance of Debt. On or prior -------------------------------------------------- to the first Business Day after receipt by Company or any of its Subsidiaries of any proceeds of any Indebtedness (other than the Loans and any other Indebtedness permitted under subsection 7.1(i), (ii), (iii), (iv), (v), (vii), (viii) or (viiiix)), Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to the amount of such proceeds; provided, however, that such proceeds from -------- ------- Indebtedness permitted under subsection 7.1(vi) shall not be applied to prepay Loans pursuant to this subsection if and to the extent such proceeds are applied by Company to repay the Indebtedness with respect to the Subordinated Notes; and provided further, that payment or acceptance of the -------- ------- amounts provided for in this subsection 2.4B(iii)(b) shall not constitute a waiver of any Event of Default resulting from the incurrence of such Indebtedness or otherwise prejudice any rights or remedies of Agents or Lenders.

Appears in 1 contract

Samples: Security Agreement (Aurora Foods Inc /Md/)

Prepayments and Reductions Due to Issuance of Debt. On or prior -------------------------------------------------- to the first Business Day after receipt by Company or any of its Subsidiaries of any proceeds of any Indebtedness (other than the Loans and any other Indebtedness permitted under subsection 7.1(i), (ii), (iii), (iv), (v), (vii), (viii) or (viiiix)), Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to the amount of such proceeds; provided, provided however, that such proceeds from -------- ------- Indebtedness permitted under subsection 7.1(vi7.1 (vi) shall not be applied to prepay Loans pursuant to this subsection if and to the extent such proceeds are applied by Company to repay the Indebtedness with respect to the Subordinated Notes; and provided further, further that payment or acceptance of the -------- ------- amounts provided for in this subsection 2.4B(iii)(b) shall not constitute a waiver of any Event of Default resulting from the incurrence of such Indebtedness or otherwise prejudice any rights fights or remedies of Agents or Lenders.

Appears in 1 contract

Samples: Credit Agreement (Aurora Foods Inc)

Prepayments and Reductions Due to Issuance of Debt. On or prior -------------------------------------------------- to the first Business Day after receipt by Company or any of its Subsidiaries of any proceeds of any Indebtedness (other than the Loans and any other Indebtedness permitted under subsection 7.1(i), (ii), (iii), (iv), (v), (vii) or (viii)), Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to the amount of such proceeds; provided, however, that such proceeds from -------- ------- Indebtedness permitted under subsection 7.1(vi) shall not be applied to prepay Loans pursuant to this subsection if and to the extent such proceeds are applied by Company to repay the Indebtedness with respect to the Subordinated Notes; and provided further, that payment or acceptance of the -------- ------- ---------------- amounts provided for in this subsection 2.4B(iii)(b) shall not constitute a waiver of any Event of Default resulting from the incurrence of such Indebtedness or otherwise prejudice any rights or remedies of Agents or Lenders.

Appears in 1 contract

Samples: Credit Agreement (Aurora Foods Inc)

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Prepayments and Reductions Due to Issuance of Debt. On or prior -------------------------------------------------- to the first Business Day after receipt by Company or any of its Subsidiaries of any proceeds of any Indebtedness (other than the Loans and any other Indebtedness permitted under subsection 7.1(i), (ii), (iii), (iv), (v), (vii) or (viii)), Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to the amount of such proceeds; provided, however, that such proceeds from -------- ------- Indebtedness permitted under subsection 7.1(vi) shall not be applied to prepay Loans pursuant to this subsection if and to the extent such proceeds are applied by Company to repay the Indebtedness with respect to the Subordinated Notes; and provided further, that payment or acceptance of the -------- ------- amounts provided for in this subsection 2.4B(iii)(b) shall not constitute a waiver of any Event of Default resulting from the incurrence of such Indebtedness or otherwise prejudice any rights or remedies of Agents or Lenders.

Appears in 1 contract

Samples: Credit Agreement (Aurora Foods Inc /De/)

Prepayments and Reductions Due to Issuance of Debt. On or prior -------------------------------------------------- to the first Business Day after receipt by Company or any of its Subsidiaries of any proceeds of any Indebtedness (other than the Loans and any other Indebtedness permitted under subsection 7.1(i), (ii), (iii), (iv), (v), (vii) or (viii)), Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to the amount of such proceeds; provided, however, that such proceeds from -------- ------- Indebtedness permitted under subsection 7.1(vi) shall not be applied to prepay Loans pursuant to this subsection if and to the extent such proceeds are applied by Company to repay the Indebtedness with respect to the Subordinated Bridge Loans and/or the Subordinated Exchange Notes; and provided further, that payment or acceptance of the -------- ------- amounts provided for in this subsection 2.4B(iii)(b) shall not constitute a waiver of any Event of Default resulting from the incurrence of such Indebtedness or otherwise prejudice any rights or remedies of Agents or Lenders.

Appears in 1 contract

Samples: Security Agreement (MBW Foods Inc)

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