Offering Proceeds. If on any such date of receipt the Leverage Ratio is less than or equal to 3.00 to 1.00, the Net Cash Proceeds received by any Borrower or Subsidiary from any offering of debt or equity securities shall be used within three (3) Business Days of receipt thereof to prepay all Extensions of Credit in the order of priority specified in Section 2.6(d) (and any such repayment shall not result in a reduction to the Aggregate Commitment).
Appears in 2 contracts
Sources: Credit Agreement (Acc Corp), Credit Agreement (Acc Corp)