Examples of Specified Equity Issuance in a sentence
For purposes of this condition, it is hereby understood and agreed that an increase in the purchase price to be paid in connection with the Transaction shall not be deemed to be materially adverse to GE Capital if it is not funded by any incurrence of indebtedness, but is instead funded by cash on the balance sheet of the Group and/or the net cash proceeds of the Specified Equity Issuance and a decrease in the purchase price of less than 10% shall not be deemed to be materially adverse to GE Capital.
For the avoidance of doubt and notwithstanding anything to the contrary herein or in the other Loan Documents, without limiting the effect of this consent, the Specified Equity Issuance shall be and continue to be deemed Disqualified Equity Interests for all purposes under the Loan Documents after giving effect to this Amendment and the consent set forth in this Section 2.
Each prepayment of Loans pursuant to Section 2.08(a) shall be applied as follows: (A) with respect to any Specified Equity Issuance, first to the Tranche A Loans and second to the Tranche B Loans, (B) with respect to any Specified Debt Incurrence, first to the Tranche B Loans and second to the Tranche A Loans and (C) with respect to any other Prepayment Event, pro rata to the Tranche A Loans and the Tranche B Loans.
Upon satisfaction of the conditions to effectiveness set forth in Section 6 below and notwithstanding Section 6.12 of the Loan Agreement, Agent and the Lenders hereby consent to the Borrower making the Specified Equity Issuance pursuant to the documentation attached hereto as Exhibit B and retaining the Specified Net Cash Proceeds for working capital and for other general corporate purposes that are not prohibited by the Loan Agreement.
Section 4.02 of the Credit Agreement is hereby amended by deleting the word “or” at the end of clause (xi) in the parenthetical of clause (c) and replacing it with a comma, and adding the following at the end of such clause (xi): “, (xii) the Specified Equity Conversion, (xiii) the Specified Equity Issuance or (xiv) any Permitted Cure Security”.