Common use of Payments and Prepayments of Certain Debt Clause in Contracts

Payments and Prepayments of Certain Debt. The Borrower will not, nor will it permit any of its Restricted Subsidiaries to, cancel or forgive, make any voluntary or optional payment or prepayment on, or redeem or acquire for value (including, without limitation, by way of depositing with any trustee with respect thereto money or securities before due for the purpose of payment when due) any Senior Notes; provided, however, notwithstanding the foregoing, the Senior Notes may be repurchased, redeemed, acquired or defeased so long as the aggregate amount of the amounts paid in respect thereof does not exceed the sum of (i) the aggregate amount of Net Available Proceeds of the issuance of unsecured Indebtedness permitted under Section 6.01(h) hereof (provided that the terms and conditions of such Indebtedness do not require any payment or prepayment of any principal amount thereof before the date falling 90 days after the Term Loan Maturity Date for Tranche B Term Loans) plus (ii) the aggregate amount of Net Available Proceeds from Equity Issuances not required to prepay Loans pursuant to Section 2.10 hereof and not used to make Permitted Acquisitions plus (iii) the aggregate amount of Restricted Payments otherwise permitted to be made, but not made, under Section 6.05(c) or 6.05(d) hereof.

Appears in 2 contracts

Sources: Credit Agreement (Geo Group Inc), Credit Agreement (Geo Group Inc)