Common use of Public Offering or Public Secondary Sale Clause in Contracts

Public Offering or Public Secondary Sale. No shares in the share capital of the Borrower shall be sold in a Public Offering or Public Secondary Sale unless: (a) if no prepayment is made under Section 3.09(b), more than 75% of the share capital of the Borrower is subject to the Security after giving effect to such Public Offering or Public Secondary Sale; and (b) if a prepayment as required under Section 3.09(b) is made, such percentage of shares in the capital of the Borrower as is required under Section 3.09(b) is subject to the Security.

Public Offering or Public Secondary Sale. No shares in the share capital of the Borrower shall be sold in a Public Offering or Public Secondary Sale unless: (a) if no prepayment is made under Section 3.09(b3.10(b), more than 75% of the share capital of the Borrower is subject to the Security after giving effect to such Public Offering or Public Secondary Sale; and (b) if a prepayment as required under Section 3.09(b3.10(b) is made, such percentage of shares in the capital of the Borrower as is required under Section 3.09(b3.10(b) is subject to the Security.