Document ID: 15368

Text:
Excluded Equity Issuances means (a) the issuance by any Subsidiary of Ownership Interests to either Borrower or any Guarantor, as applicable, (b) the issuance of Ownership Interests of Turning Point (i) to directors, officers and employees of Turning Point and its Subsidiaries pursuant to employee stock option plans (or other employee incentive plans or other compensation arrangements) approved by Turning Points board of directors (or similar governing body), (ii) to finance the purchase consideration (or a portion thereof) in connection with Capital Expenditures, and (iii) for such other purposes reasonably acceptable to the Administrative Agent in its sole discretion; provided that the issued Ownership Interests permitted by this clause (b) (other than issuances permitted by the foregoing clause (b)(i) to the extent no cash is received by Turning Point as consideration for such issuance) shall not exceed $5,000,000 in the aggregate during the term of this Agreement, with the value of each such issuance determined as of the date of such issuance, (c) the issuance of Ownership Interests of Turning Point in order to finance the purchase consideration (or a portion thereof) in connection with a Permitted Acquisition; provided that such Permitted Acquisition is consummated within six (6) months of such issuance, and (d) the issuance of Ownership Interests by Turning Point to pay the outstanding Second Lien Term Loans so long as (x) one hundred percent ( 100% ) of the proceeds are used to pay the Second Lien Term Loans (or a portion thereof) and (y) the Administrative Agent and the Supermajority Lenders have given their prior written consent to such issuance and such payment of the Second Lien Term Loans (or a portion thereof).

Named Entities:
168
173
Principal
278
279
Percentage

Tokenized Text:
Excluded
Equity
Issuances
means
(
a
)
the
issuance
by
any
Subsidiary
of
Ownership
Interests
to
either
Borrower
or
any
Guarantor
,
as
applicable
,
(
b
)
the
issuance
of
Ownership
Interests
of
Turning
Point
(
i
)
to
directors
,
officers
and
employees
of
Turning
Point
and
its
Subsidiaries
pursuant
to
employee
stock
option
plans
(
or
other
employee
incentive
plans
or
other
compensation
arrangements
)
approved
by
Turning
Points
board
of
directors
(
or
similar
governing
body
)
,
(
ii
)
to
finance
the
purchase
consideration
(
or
a
portion
thereof
)
in
connection
with
Capital
Expenditures
,
and
(
iii
)
for
such
other
purposes
reasonably
acceptable
to
the
Administrative
Agent
in
its
sole
discretion
;
provided
that
the
issued
Ownership
Interests
permitted
by
this
clause
(
b
)
(
other
than
issuances
permitted
by
the
foregoing
clause
(
b
)
(
i
)
to
the
extent
no
cash
is
received
by
Turning
Point
as
consideration
for
such
issuance
)
shall
not
exceed
$
5
,
000
,
000
in
the
aggregate
during
the
term
of
this
Agreement
,
with
the
value
of
each
such
issuance
determined
as
of
the
date
of
such
issuance
,
(
c
)
the
issuance
of
Ownership
Interests
of
Turning
Point
in
order
to
finance
the
purchase
consideration
(
or
a
portion
thereof
)
in
connection
with
a
Permitted
Acquisition
;
provided
that
such
Permitted
Acquisition
is
consummated
within
six
(
6
)
months
of
such
issuance
,
and
(
d
)
the
issuance
of
Ownership
Interests
by
Turning
Point
to
pay
the
outstanding
Second
Lien
Term
Loans
so
long
as
(
x
)
one
hundred
percent
(
100
%
)
of
the
proceeds
are
used
to
pay
the
Second
Lien
Term
Loans
(
or
a
portion
thereof
)
and
(
y
)
the
Administrative
Agent
and
the
Supermajority
Lenders
have
given
their
prior
written
consent
to
such
issuance
and
such
payment
of
the
Second
Lien
Term
Loans
(
or
a
portion
thereof
)
.