Common use of Mandatory Contribution Clause in Contracts

Mandatory Contribution. NTL CC shall ensure that the cash proceeds (net of any related expenses) of any equity or Financial Indebtedness raised by any member of the Covenant Group shall be applied as follows: 19.22.1 to the extent that such amount is required, pursuant to the Working Capital Facility to be applied in mandatory prepayment of the amount outstanding thereunder, such amount shall be invested in the Parent by way of Subordinated Funding and so applied in mandatory prepayment of the amount outstanding under the Working Capital Facility; 19.22.2 to the extent that such amount is required, pursuant to the Working Capital Facility to be applied in mandatory cancellation of the Working Capital Facility, such amount shall be invested in the Parent by way of Subordinated Funding and onlent by way of Parent Funding to members of the UK Group (other than the Parent); 19.22.3 to the extent that such amount is not required pursuant to the Working Capital Facility to be applied in mandatory prepayment or cancellation thereof: (a) from the Acquisition Date up to (and including) 31 December 2003, 662/3 per cent. of the aggregate amount of such cash proceeds; and (b) at all times thereafter, 75 per cent. of the aggregate amount of such cash proceeds, in each case other than Excluded Contributions, shall be contributed to the Parent by way of Subordinated Funding. The Parent shall in turn ensure that any such Subordinated Funding received by it is contributed to the other members of the UK Group by way of Parent Funding.

Mandatory Contribution. NTL CC shall ensure that the cash proceeds (net of any related expenses) of any equity or Financial Indebtedness raised by any member of the Covenant Group shall be applied as follows: 19.22.1 23.22.1 to the extent that such amount is required, pursuant to the Working Capital Facility to be applied in mandatory prepayment of the amount outstanding thereunder, such amount shall be invested in the Parent by way of Subordinated Funding and so applied in mandatory prepayment of the amount outstanding under the Working Capital Facility; 19.22.2 23.22.2 to the extent that such amount is required, pursuant to the Working Capital Facility to be applied in mandatory cancellation of the Working Capital Facility, such amount shall be invested in the Parent by way of Subordinated Funding 134 and onlent by way of Parent Funding to members of the UK Group (other than the Parent); 19.22.3 23.22.3 to the extent that such amount is not required pursuant to the Working Capital Facility to be applied in mandatory prepayment or cancellation thereof: (a) from the Acquisition Date up to (and including) 31 December 2003, 662/3 66 2/3 per cent. of the aggregate amount of such cash proceeds; and (b) at all times thereafter, 75 per cent. of the aggregate amount of such cash proceeds, in each case other than Excluded Contributions, shall be contributed to the Parent by way of Subordinated Funding. The Parent shall in turn ensure that any such Subordinated Funding received by it is contributed to the other members of the UK Group by way of Parent Funding.