Print Page  Close Window

SEC Filings

RENAISSANCE MEDIA GROUP LLC filed this Form S-4 on 06/12/1998
Entire Document
                  made during such fiscal year, exceeds $1,000,000, (2) any
                  Indebtedness Incurrence or (3) any Equity Issuance or (B) any
                  Plan Reversion Proceeds, the Borrower shall prepay Term Loans
                  and the Revolving Commitments shall be reduced, in the
                  aggregate, by an amount equal to the Reduction Percentage of
                  such Net Cash Proceeds or Plan Reversion Proceeds, as the case
                  may be; provided that if the Net Cash Proceeds and Plan
                  Reversion Proceeds are less than $1,000,000, such prepayment
                  or reduction shall be made upon receipt of proceeds such that,
                  together with all other such amounts not previously applied,
                  aggregate Net Cash Proceeds and Plan Reversion Proceeds are
                  equal to at least $1,000,000; and provided further that the
                  Borrower shall not be required to apply to such prepayment or
                  reduction (I) Net Cash Proceeds of Asset Sales which would
                  otherwise be required to be applied to such prepayment or
                  reduction, to the extent such Net Cash Proceeds are reinvested
                  within 365 days of such Asset Sales in productive assets of a
                  kind used or usable in the business of the Borrower or such
                  Subsidiary and (II) Net Cash Proceeds of any Equity Issuance
                  to the extent that the proceeds thereof are used within 90
                  days to fund Equity-Funded Acquisition Deposits or the
                  purchase price of a Permitted Acquisition; and

                           (y) on the earlier of (I) the 120th day after the end
                  of each fiscal year of Parent Companies on the last day of
                  which the Combined Total Leverage Ratio exceeds 4.0:1.0
                  (beginning with the fiscal year ending in 1998) and (II) the
                  fifth Business Day after financial statements in respect of
                  any such fiscal year are delivered by the Borrower pursuant to
                  Section 5.01(a), the Borrower shall prepay Term Loans by an
                  amount equal to 50% of Excess Cash Flow for such fiscal year.

                  (ii) In addition, promptly following receipt by the Borrower
         or any of its Subsidiaries of any Major Casualty Proceeds or Indemnity
         Proceeds, the Borrower shall deposit with the Administrative Agent in
         the Cash Collateral Account an amount of cash equal to the amount of
         such Major Casualty Proceeds or Indemnity Proceeds, as the case may be.
         So long as no Default has occurred and is continuing, an amount equal
         to the aggregate amount of such cash proceeds which such Person has
         expended or committed to expend for the restoration or replacement of
         the asset in respect of which such Major Casualty Proceeds payment was
         made or to remedy the event giving rise to such Indemnity Proceeds
         payment, shall be released by the Administrative Agent to the Borrower;
         provided that if within 180 days of receipt of such payment such Person
         shall not have