Proceeds from Debt or Equity Offering. Unless otherwise waived by the Majority Banks, the Borrower shall cause all gross proceeds of each and every Debt Offering and Equity Offering, less all reasonable costs, fees, expenses, underwriting commissions, fees and discounts incurred in connection therewith, to be paid to the Agent for the account of the Banks as a prepayment of the Loans within thirty (30) days of the date of such offering to the extent of the outstanding balance of the Loans.
Proceeds from Debt or Equity Offering. The Borrower shall cause all gross proceeds of each and every Debt Offering and Equity Offering, less all reasonable costs, fees, expenses, underwriting commissions, fees and discounts incurred in connection therewith, to be promptly paid by the Borrower to the Agent for the account of the Banks as a prepayment of the Loans to the extent of the outstanding balance of the Loans; provided that, subject to the limitations contained in Section 3.2(b) above, the Borrower shall not as a result of this Section 3.6 be required to reduce the principal balance of the Loans to less than $50,000,000.00.
Proceeds from Debt or Equity Offering. At the option of the Majority Banks, the Borrower shall cause any Net Offering Proceeds to be paid by the Borrower or the Guarantor to the Agent for the account of the Banks as a prepayment of the Loans to the Borrower or which are guaranteed by the Guarantor within ten (10) days of the date of such offering to the extent of the outstanding balance of such Loans; provided that so long as no Default or Event of Default has occurred and is continuing or would occur as a result of such payment, the Net Offering Proceeds of any Equity Offering may be used to prepay the Unsecured Term Loans.
Proceeds from Debt or Equity Offering. Unless otherwise waived by the Agent, the Borrower shall cause all gross proceeds of each and every Debt Offering and Equity Offering, less all reasonable costs, fees, expenses, underwriting commissions, fees and discounts incurred in connection therewith, to be paid to the Agent for the account of the Banks as a prepayment of the Loans within thirty (30) days of the date of such offering to the extent of the outstanding balance of the Loans.
Proceeds from Debt or Equity Offering. The Borrower shall cause the gross proceeds of any Debt Offering or Equity Offering, less all reasonable costs, fees, expenses, underwriting commissions, fees and discounts incurred in connection therewith, to be paid by the Borrower or Guarantor, as applicable, to the Agent for the account of the Lenders as a prepayment of the Loans to the Borrower within ten (10) days after the receipt thereof (or if a payment within such period would require payment of amounts pursuant to (S)4.8, then such payment shall be made at the first expiration of an Interest Period thereafter) to be applied first to the then outstanding principal of the Loans in the same manner as partial prepayments pursuant to (S)3.4 and then to accrued and unpaid interest on the Loans.
Proceeds from Debt or Equity Offering. At the option of the Majority Banks, the Borrower shall cause any Net Offering Proceeds to be paid by the Borrower or the Guarantor to the Agent for the account of the Banks as a prepayment of the Loans to the Borrower or which are guaranteed by the Guarantor within ten (10) days of the date such offering to the extent of the outstanding balance of such Loans.
Proceeds from Debt or Equity Offering. The Borrower shall cause not less than ninety percent (90%) of the sum of all gross proceeds of each and every Debt Offering and Equity Offering, less all reasonable costs, fees, expenses, underwriting commissions, fees and discounts incurred in connection therewith, to be paid by the Borrower to the Agent for the account of the Banks as a prepayment of the Loans to the extent of the outstanding balance of the Loans within thirty (30) days of the receipt of such proceeds.
