Common use of Prepayments and Reductions Clause in Contracts

Prepayments and Reductions. Due to issuance of Holdings ------------------------------------------------------ Equity Securities. On the date of receipt by Holdings or any of its ----------------- Subsidiaries (other than the cash proceeds from the initial public offering of Holdings Common Stock or the exercise of any over- allotment option in connection with such initial public offering) of the cash proceeds (any such proceeds, net of underwriting discounts, commissions and other reasonable legal fees and expenses, being "NET EQUITY SECURITIES PROCEEDS") from the issuance of any equity securities of Holdings or any of its Subsidiaries, the Borrowers shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 75% of such Net Equity Securities Proceeds.

Prepayments and Reductions. Due to issuance of Holdings ------------------------------------------------------ Equity Securities. On the date of receipt by Holdings or any of its ----------------- Subsidiaries (other than the cash proceeds from the initial public offering of Holdings Common Stock or the exercise of any over- allotment option in connection with such initial public offering) of the cash proceeds (any such proceeds, net of underwriting discounts, commissions and other reasonable legal fees and expenses, being "NET EQUITY SECURITIES PROCEEDSNet Equity Securities Proceeds") from the issuance of any equity securities of Holdings or any of its Subsidiaries, the Borrowers shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 75% of such Net Equity Securities Proceeds.