Prepayments from Equity Offerings. In the event that at any time after the Effective Date, the Borrower issues capital stock or other securities or receives an additional capital contribution in respect of existing capital stock or other securities, (other than in connection with the issuance or sale of shares to employees of the Borrower pursuant to any stock ownership or profit sharing plan) not later than the third Business Day following the date of receipt of the proceeds from such issuance, the Borrower shall apply such proceeds, net of underwriting discounts and commissions and other reasonable costs associated therewith, in prepayment of the Loans as provided in SECTION 5.9(C).
Prepayments from Equity Offerings. In the event that, at any time after the Effective Date, Tultex or any of its Subsidiaries issues capital stock or other securities or receives an additional capital contribution in respect of existing capital stock or other securities (excluding any such issuance to, or receipt from, another Obligor or a Consolidated Subsidiary of Tultex), no later than the second Business Day following the date of receipt of the proceeds from such issuance, the Obligors shall (i) apply such proceeds, net of underwriting discounts and commissions and other reasonable costs associated therewith, as provided in SECTION 4.9(C), and (ii) the Borrowers' Agent shall deliver to the Agent a certificate of the Financial Officer demonstrating the calculations of the amount required to be applied and the amount of such net proceeds to be applied as provided in SECTION 4.9(C).
Prepayments from Equity Offerings. In the event that the Company or any Subsidiary of the Company issues Capital Stock for cash (other than pursuant to employee benefit plans sponsored by the Company) no later than the third (3rd) Business Day following the date of receipt of the Net Proceeds from such issuance, the Company shall make a prepayment in respect of the Loans in an amount equal to fifty percent (50%) of the amount of such Net Proceeds in prepayment of the Loans as provided in clause (v) below; provided, however, that such mandatory prepayment shall not be required when the Company's Funded Debt to pro forma EBITDA ratio (calculated and determined as provided in Section 7.11) is less than or equal to 2.00 to 1.00 at the end of the Company's most recently completed fiscal quarter. Notwithstanding anything to the contrary contained herein, the Company shall make a prepayment in respect of the Loans in an amount equal to (a) one-hundred percent (100%) of the net proceeds from the Equity Investment (after deduction of the Permitted Expenses), such net proceeds not to be less than $31,000,000, and (b) fifty percent (50%) of the net proceeds resulting from the Equity Investment Surplus (after deduction of the Excess Permitted Expenses), no later than the second (2nd) Business Day following the date of receipt thereof, such net proceeds to be applied as provided in clause (v) below, unless, with respect to the Equity Investment Surplus, such receipt is subject to rebate under the terms and conditions of any subscription agreements, in which case such net proceeds shall be applied as provided in clause (v) below after such rebate period has expired.
Prepayments from Equity Offerings. In the event that the --------------------------------- Company or any Subsidiary of the Company issues Capital Stock in any public offering (other than public offerings of Capital Stock pursuant to employee benefit plans sponsored by the Company and other than additional equity investments made in connection with such public offering by Apollo Group and its Affiliates) no later than the third Business Day following the date of receipt of the Net Proceeds from such issuance, the Company shall make a prepayment in respect of the Obligations equal to 50% of the amount of such Net Proceeds in prepayment of the Loans as provided in clause (v) below; provided, ---------- -------- however, that such mandatory prepayment shall be reduced to 0% of such ------- proceeds when the Company's Funded Debt to pro forma EBITDA ratio (calculated and determined as provided in Section 7.11) is less than ------------ 2.00 to 1.00 at the end of the Company's most recently completed fiscal quarter.
Prepayments from Equity Offerings. In the event that at any time after the Agreement Date, Borrower issues Capital Stock or other securities or receives an additional capital contribution in respect of existing Capital Stock or other securities, no later than the third Business Day following the date of receipt of the proceeds from such issuance, Borrower shall apply such proceeds, net of underwriting discounts and commissions and other reasonable costs associated therewith, in prepayment of the Loans as provided in SECTION 5.11(c).
Prepayments from Equity Offerings. In the event that the Borrower or any Subsidiary of the Borrower issues Capital Stock in any public offering or private placement other than such issuance or placement made exclusively in payment of or funding for a Permitted Acquisition, or receives an additional capital contribution in respect of existing Capital Stock or other Securities (including, without limitation, Debt Securities), other than such issuance or placement made exclusively in payment of, or funding for, a Permitted Acquisition, pursuant to the Borrower's 1988 Non-Statutory Stock Option Plan, the Borrower's 1997 Non- Statutory Stock Option Plan, the Borrower's Non-Employee Director's Stock Option Plan, and the Borrower's Rights Agreement dated November 19, 1997 (or any capital contribution in respect of any similar future plans) or issued in exchange for outstanding Debt or equity Securities, no later than the third Business Day following the date of receipt of the proceeds from such issuance, the Borrower shall make a prepayment in respect of the Obligations equal to the net proceeds of such issuance.
Prepayments from Equity Offerings. In the event that, at any time after the Effective Date, any Borrower or any of its Subsidiaries issues capital stock or other securities or receives an additional capital contribution in respect of existing capital stock or other securities (excluding any such issuance to, or receipt from, another Borrower or a consolidated Subsidiary of a Borrower), no later than the third Business Day following the date of receipt of the proceeds from such issuance, the Borrowers shall notify the Agent in writing whether they intend to apply such proceeds, net of underwriting discounts and commissions and other reasonable costs associated therewith to the redemption or repurchase of outstanding High Yield Debt or in prepayment of the Loans as provided in SECTION 5.9(D); PROVIDED any such redemption or repurchase of outstanding High Yield Debt may be made only to the extent permitted under SECTION 12.
Prepayments from Equity Offerings. Section 2.6(f) of the Credit Agreement is hereby amended in its entirety to read as follows:
Prepayments from Equity Offerings. Concurrently with the receipt by the Company of proceeds from Equity Offerings, the Company shall prepay the Loans in a principal amount equal to the lesser of the proceeds thereof (net of expenses payable by the Company to any Person other than an Affiliate of the Company in connection with such Equity Offering) and the aggregate principal amount of the Notes then outstanding.
Prepayments from Equity Offerings. In the event that Borrower or any Subsidiary of Borrower issues Capital Stock in any public offering or receives an additional capital contribution in respect of existing Capital Stock or other Securities (including debt Securities) no later than the third Business Day following the date of receipt of the proceeds from such issuance, Borrower shall make a prepayment in respect of the Obligations equal to one hundred percent (100%) of the
