Professional Documents
Culture Documents
1 |
(a) | (i) | A. as Headings.
Import the outline numbering set under House Style | 11pt Schedule | ... as Schedules.
Apply Schedule 1 and Schedule 2 to the appropriate text.
Edit Outline Numbering by modifying HeadingARTICLE
1 and Heading
I 4 to match the styles below.
OBLIGATIONS OF OUTSIGHT
Section 1.1 AHF Prepayment Amount. As soon as possible but no later than 30
days after the delivery to GG Medical of the audited annual consolidated financial statements of
OutSight pursuant to hereof (together with a Certificate of OutSight’s chief financial officer showing
in reasonable detail the calculation of the AHF Prepayment Amount), OutSight shall cause AHF to
prepay, on each such date, the outstanding principal amount of the debt to GG Capital in an amount
equal to the amount (the “AHF Prepayment Amount”) by which (a) OutSight Excess Cash Flow for the
immediately preceding fiscal year exceeds (b) an amount equal to five percent of OutSight as reflected
in the consolidated financial statements of OutSight or any of the OutSight Subsidiaries for such
immediately preceding fiscal year, determined in accordance with GAAP with each prepayment being
applied to the installments of principal bearing the highest rate of interest as of the date of such
application is made in the inverse order of their stated maturity; provided, however, that, upon full
payment by AHF under this of, which is the sum of the final installments due on the last Business Day
of December 2019 and in Section 2.2(d). OutSight Excess Cash Flow in an amount equal to the AHF
Prepayment Amount shall continue to be applied to prepayment of each of the Distribution Notes as
provided therein and interest on the principal amount shall be reduced to 10.25 % per annum.
Section 1.2 GG Parties’ Right to Challenge. The GG Parties shall have the right
to, directly or through an agent, examine, audit, inspect or copy the books, records and files kept and
maintained by OutSight as well as any underlying documentation reasonably necessary for such GG
Party to confirm the accuracy of OutSight’s determination of the AHF Prepayment Amount under
hereof.
(a) In the event that any such audit or examination discloses any discrepancies as
reasonably determined by any GG Party, OutSight and such GG Party shall meet within 30 days to
attempt to resolve such discrepancies.
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Section 1.3 Payments. All payments to be made by OutSight shall be made
without setoff, recoupment or counterclaim in immediately available funds pursuant to the Automatic
Drafting Agreement between OutSight and GG Medical.
ARTICLE II
USE AND OCCUPANCY
Section 2.1 This is where the Use and Occupancy materials will go.
ARTICLE III
CONDITIONS PRECEDENT; CLOSING
(b) Guaranties. AHF shall have executed and delivered a guaranty in favor of GG
Medical, in substantially the form attached hereto as Article I unless otherwise stated, guaranteeing the
obligations of MHC or any of the MHC FirstTier Subsidiaries to GG Medical guaranteeing the
obligations of AHF to the GG Parties.
(b) OutSight Preferred Shares. The AHF Shares and the Magnum Shares shall
have been exchanged for all of the issued and outstanding shares (“Magnum Shares”).
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Section 3.3 Conditions Precedent to Obligations of Credit Parties. The obligations
of the Credit Parties to consummate the transactions contemplated hereby shall be subject to satisfaction
of each of the following conditions (which may be waived specifically in writing by such Credit Parties
in whole or in part) at or prior to the Closing Date.
Section 3.4 Closing. The delivery of documents and instruments on the Closing
Date as contemplated hereby shall take place at 10:00 a.m. at the offices of Maeder Cook & Jackson
LLC, counsel for the GG Parties, located at 2049 Washington Park East Los Angeles, CA 90067.
ARTICLE IV
MISCELLANEOUS
Section 4.4 Automatic Drafting. After the occurrence and during the continuance
of a Default or an event of Default, all payments now or hereafter required to be made by the Credit
Parties pursuant to this Agreement, any of the other Restructuring Documents or any other agreement
between any Credit Party and any GG Party shall be made pursuant to the Automatic Drafting
Agreement between such Credit Party and such GG Party.
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Schedule 1 Schedule 1
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Part 1 Part 1
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