Prepayment Transaction means any repayment, refinancing, substitution or replacement, in whole or in part, of principal of outstanding Term Loans, directly or indirectly, from the net proceeds of any Indebtedness of Holdings, the Borrower or any of their Subsidiaries, including, without limitation, as may be effected through any other new or additional loans under this Agreement or by an amendment of any provisions of this Agreement (including pursuant to Section 9.09(f)), including any replacement of a Non-Consenting Lender in connection with a required assignment pursuant to Section 2.19.
Prepayment Transaction is defined in SECTION 2.06.
Prepayment Transaction means any repayment, refinancing, substitution or replacement, in whole or in part, of principal of outstanding Loans, directly or indirectly, from the net proceeds of any Indebtedness of the Borrower or any of its Subsidiaries, including, without limitation, as may be effected through any other new or additional loans under this Agreement or by an amendment of any provisions of this Agreement (including pursuant to Section 9.09(f)), including any replacement of a Non-Consenting Lender in connection with a required assignment pursuant to Section 2.19.
Examples of Prepayment Transaction in a sentence
Accordingly, to hedge their exposure to the variability of market prices as compared to the fixed price inherent in the Municipal Prepayment Transaction, the gas agency and the prepaid gas supplier enter into matched commodity swaps.
Such amounts shall be due and payable on the date of effectiveness of such Prepayment Transaction.
The structure of the Municipal Prepayment Transaction requires matched commodity swap agreements to remain in place at all times, since the variable prices paid by the gas agency’s municipal utility customers would not be sufficient to pay its debt service in a low price environment without payments under its swap.
As described in detail below, these transactions are facilitated by a unique form of matched commodity swaps that allow the parties to a Municipal Prepayment Transaction to hedge their respective exposures to the changing price of the natural gas underlying the transaction with a single Swap Dealer.
While the counterparty to one of the swaps (the “front-end” swap) in a Municipal Prepayment Transaction is always a nonfinancial end user (it is typically a governmental gas supply agency), the counterparty to the other swap (the “back-end” swap), the prepaid gas supplier, may be a swap entity or other financial entity.
More Definitions of Prepayment Transaction
Prepayment Transaction means any repayment, refinancing, substitution or replacement, in whole or in part, of principal of outstanding Term Loans, directly or indirectly, from the net proceeds of any Indebtedness of Holdings, the Borrower or any of their Subsidiaries, including, without limitation, as may be effected through any other new or additional loans under this Agreement or by an amendment of any provisions of this Agreement (including pursuant to Section 9.09(f)), including any replacement of a Non-Consenting Lender in connection with a required assignment pursuant to Section 2.19. 2 Cross reference to be confirmed.
Prepayment Transaction means the receipt by either Constituent Company or any Subsidiary of (i) Net Proceeds from any Asset Sale or (ii) cash proceeds from any incurrence of any Indebtedness (including the cash proceeds of any refinancing of existing Indebtedness but excluding Excluded Prepayment Debt) or any Equity Issuance (other than, if both at the time of such Equity Issuance and after giving effect to the purchase of Reinvestment Assets (or escrow deposits, if applicable, as described below), Availability (to the extent available to be drawn in accordance with the Bank Credit Agreement as in effect on the First Amendment Date) is equal to or greater than $250,000,000, and the proceeds of such Equity Issuances are applied within 10 Business Days of the receipt thereof to (or held inthe purchase of Reinvestment Assets (or as an escrow deposit with a third party escrow agent for no more than 90 days (which period may be extended for up to 60 additional days with the prior written consent of the Required Holders, which consent shall not be unreasonably withheld) prior to) the purchase of Reinvestment Assets)), net of, in the case of this clause (ii), underwriting discounts and commissions and other reasonable costs and expenses associated therewith (to the extent not paid to an Affiliate of the Parent Guarantor, the Issuer or its Subsidiaries), including reasonable legal fees and expenses.
Prepayment Transaction means the receipt by either Constituent Company or any Subsidiary of (i) Net Proceeds from any Asset Sale or (ii) cash proceeds from any incurrence of any Indebtedness (including the cash proceeds of any refinancing of existing Indebtedness but excluding Excluded Prepayment Debt) or any Equity Issuance (other than, if both at the time of such Equity Issuance and after giving effect to the purchase of Reinvestment Assets, Availability (to the extent available to be drawn in accordance with the Bank Credit Agreement as in effect on the First Amendment Date) is equal to or greater than $250,000,000, and the proceeds of such Equity Issuances are applied within 10 Business Days of the receipt thereof to (or held in escrow with a third party escrow agent for no more than 90 days (which period may be extended for up to 60 additional days with the prior written consent of the Required Holders, which consent shall not be unreasonably withheld) prior to) the purchase of Reinvestment Assets), net of, in the case of this clause (ii), underwriting discounts and commissions and other reasonable costs and expenses associated therewith (to the extent not paid to an Affiliate of the Parent Guarantor, the Issuer or its Subsidiaries), including reasonable legal fees and expenses.
Prepayment Transaction means the receipt by either Constituent Company or any Subsidiary of (i) Net Proceeds from any Asset Sale or (ii) cash proceeds from any incurrence of any Indebtedness (including the cash proceeds of any refinancing of existing Indebtedness but excluding Excluded Prepayment Debt) or any Equity Issuance (other than, if both at the time of such Equity Issuance and after giving effect to the purchase of Reinvestment Assets (or escrow deposits, if applicable, as described below), Availability (to the extent available to be drawn in accordance with the Bank Credit Agreement as in effect on the First Amendment Date) is equal to or greater than $250,000,000, and the proceeds of such Equity Issuances are applied within 10 Business Days of the receipt thereof to the purchase of Reinvestment Assets (or as an escrow deposit with a third party escrow agent for no more than 90 days (which period may be extended for up to 60 additional days with the prior written consent of the Required Holders, which consent shall not be unreasonably withheld) prior to the purchase of Reinvestment Assets)), net of, in the case of this clause (ii), underwriting discounts and commissions and other reasonable costs and expenses associated therewith (to the extent not paid to an Affiliate of the Parent Guarantor, the Issuer or its Subsidiaries), including reasonable legal fees and expenses. Notwithstanding anything to the contrary contained in this Agreement, on one occasion only, the Net Proceeds from the sale of the Property known as Renaissance LAX shall not be required to be prepaid pursuant to this Section 9.14, or pursuant to any other Section of this Agreement, to the extent (and only to the extent) that, on the next available prepayment date following such sale of the Property known as Renaissance LAX, (1) all of such Net Proceeds are applied to repay the loan secured by the mortgage on the Property known as Renaissance DC, (2) the owner of the Property known as Renaissance Washington D.C. (which Property was subject to such mortgage) becomes a Subsidiary Guarantor in accordance with Section 9.9 and such Property becomes an Unencumbered Property and (3) if and to the extent that the Security Trigger Date has occurred, the Equity Interests of Sxxxxxxx X0, LLC (and each other Subsidiary of the Issuer (other than an Excluded Equity Issuer) that directly or indirectly owns the Property known as Renaissance Washington D.C.) are pledged to secure the Obligations and the Constituent Compa...
Prepayment Transaction means, with respect to any Person, any indebtedness or monetary obligation owed to its customers, assumed or Guaranteed by such Person or any of its Subsidiaries, arising in the ordinary course of business in connection with the sale of goods or services for which the purchase price has been prepaid by such customer;
Prepayment Transaction has the meaning specified in Section 2.4(a).
Prepayment Transaction means the receipt by the Company or any Subsidiary of Net Cash Proceeds; provided that a Prepayment Transaction shall not be deemed to have occurred unless and until the aggregate amount of Net Cash Proceeds received after the Second Amendment Effective Date, less the amount of Net Cash Proceeds previously applied to prepay Indebtedness pursuant to this Section 9.13, is greater than or equal to $10,000,000.