Common use of Debt Proceeds Clause in Contracts

Debt Proceeds. The Borrower shall prepay the Term Loan in the manner set forth in Section 4.4(b)(v) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt by the Borrower or any of its Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.

Appears in 1 contract

Sources: Credit Agreement (Hickory Tech Corp)

Debt Proceeds. The Borrower shall prepay the Term Loan Loans in the manner set forth in Section 4.4(b)(v4.5(b)(v) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt (other than Debt permitted under Section 12.1) by the Borrower or any of its Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.

Appears in 1 contract

Sources: Credit Agreement (Hickory Tech Corp)

Debt Proceeds. The Borrower shall prepay the Term Loan Loans and, if applicable, any Incremental Term Loans, in the manner set forth in Section 4.4(b)(v4.5(b)(v) below in amounts equal to one hundred percent (100%) of the aggregate Net Cash Proceeds from any incurrence of Debt (other than Debt permitted under Section 11.1) by the Borrower or any of its Subsidiaries. Such prepayment shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such transaction.

Appears in 1 contract

Sources: Credit Agreement (Hickory Tech Corp)