Certain Proceeds of Indebtedness. Not later than the fifth (5th) Business Day following the date of the receipt by any Credit Party of the cash proceeds (net of underwriting discounts and commissions, placement agent fees and other customary fees and costs associated therewith) from any sale or issuance of any Indebtedness (other than any Indebtedness incurred pursuant to Section 7.04 after the Closing Date (other than Refinancing Term Loans or any other Permitted Refinancing)), (x) the U.S. Borrower shall prepay U.S. Loans in an amount equal to 100% of such Net Cash Proceeds received by U.S. Credit Parties or any U.S. Subsidiary thereof in accordance with Section 2.13(d) below and (y) the EMEA Borrower shall prepay the EMEA Term Loans in an amount equal to 100% of such Net Cash Proceeds received by Non-U.S. EMEA Credit Parties or any Non-U.S. Subsidiary thereof in accordance with Section 2.13(d).
Appears in 4 contracts
Sources: Credit Agreement (GTT Communications, Inc.), Credit Agreement (GTT Communications, Inc.), Credit Agreement (GTT Communications, Inc.)