Prepayments and Reductions Due to Issuance of Equity Securities. On or prior to the first Business Day after receipt by Company or any of its Subsidiaries of any Equity Proceeds, Company shall prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) in an amount equal to such Equity Proceeds; provided that such Equity Proceeds shall not be applied to prepay Loans pursuant to this subsection if (1) such Equity Proceeds were not derived from a public offering of Securities and (2) such Equity Proceeds (y) are, upon receipt, designated for reinvestment in the businesses of Company and its Subsidiaries and (z) are within 30 days of receipt thereof by Company or any of its Subsidiaries, reinvested in the businesses of Company and its Subsidiaries.
Appears in 4 contracts
Samples: Credit Agreement (Sherman Acquisition Corp), Credit Agreement (Gulf State Credit LLP), Credit Agreement (Account Portfolios Gp Inc)
