Asset Disposition. If the Borrower or any other Obligor receives any Net Cash Proceeds in excess of in the aggregate for any single disposition or series of dispositions, the Borrower shall prepay an aggregate principal amount of Loans equal to 100% of such Net Cash Proceeds of a Disposition no later than the fifth Business Day following the receipt of such Net Cash Proceeds (such prepayments to be applied as set forth in [Section 2.09(b)]).
Asset Disposition. IfConcurrently with the Borrower or any other Obligor receives anyreceipt of the Net Cash Proceeds in excessfrom any Disposition (other than a Disposition pursuant to _clauses (a) through (d) of in the aggregate for any single disposition or series of dispositions, theSection 8.7(e)_, Borrower shall prepay the Loans in an aggregate principal amount of Loans equal to 100% of such Net Cash Proceeds (or if appropriate, 100% of a Disposition no later than the fifth Business Day following the receipt ofany such Net Cash Proceeds (such prepayments to be applied as set forththat remain after deducting any amount reinvested by Borrower and its Subsidiaries during the one hundred eighty (180)-day period described in [Section 2.09(b)8.7(e)]).
Asset Disposition. IfDispositions. In the event that any Borrower or any other Obligorof its Subsidiaries receives any Net Cash Proceeds in excessrespect of any Disposition, then, substantially simultaneously with (and in any event not later than the aggregate for any single disposition or seriesthird Business Day next following) the receipt of dispositions,such Net Cash Proceeds, the Borrower shall prepay the Loans in an aggregate principal amount of Loans equal to 100% of such Net Cash Proceeds of a Disposition no later thanand the fifth Business Day followingRevolving Commitments shall be permanently reduced by the receiptamount of such Net Cash Proceeds (such prepayments to be applied as set forth in [Section 2.09(b)]).prepayment.
Asset Disposition. IfConcurrently with the Borrower or any other Obligor receives anyreceipt of the Net Cash Proceeds in excess of in the aggregate forfrom any single disposition or series of dispositions, theDisposition pursuant to [Section 8.7(e)], Borrower shall prepay the Loans in an aggregate principal amount of Loans equal to 100% of such Net Cash Proceeds (or if appropriate, 100% of a Disposition no later than the fifth Business Day following the receipt ofany such Net Cash Proceeds (such prepayments to be applied as set forththat remain after deducting any amount reinvested by Borrower and its Subsidiaries during the one hundred eighty (180)-day period described in [Section 2.09(b)8.7(e)]).
Asset Disposition. IfDispositions. To the Borrower orextent any other Obligor receivesAdvances are outstanding at such time, within one (1) Business Day of the date of receipt by any Loan Party of the Net Cash Proceeds in excess of in the aggregate forduring the term of this Agreement (or all such proceeds at any singletime while an Event of Default exists) of any voluntary or involuntary sale or disposition by any Loan Party of assets (including casualty losses or seriescondemnations but excluding sales or dispositions which qualify as Permitted Dispositions under [clauses (a), (b), (c), (d), or (g)])])])])] of dispositions, the definition of Permitted Dispositions), such Borrower shall prepay an aggregatethe outstanding principal amount of Loansthe Obligations in accordance with [Section 2.4(f)] in an amount equal to 100%one hundred percent (100%) of such Net Cash Proceeds (including condemnation awards and payments in lieu thereof) received by such Person in connection with such sales or dispositions; provided, that, # on the date of any such sale or other disposition arising from casualty losses or condemnation proceedings and after giving effect thereto, no Default or Event of Default exists or shall have occurred and be continuing, # such Borrower shall have given Agent prior written notice of such Borrower’s intention to apply such monies to the costs of replacement of the properties or assets that are the subject of such sale or disposition arising from casualty losses or condemnation proceedings or the cost of purchase or construction of other assets useful in the business of such Borrower or its Subsidiaries, # the monies are held in a Disposition no later thanDeposit Account in which Agent has a perfected first-priority security interest, and # such Borrower or its Subsidiaries, as applicable, complete such replacement, purchase, or construction within one hundred eighty (180) days after the fifth Business Day following theinitial receipt of such monies, then the Loan Party whose assets were the subject of such disposition arising from casualty losses or condemnation proceedings shall have the option to apply such monies to the costs of replacement of the assets that are the subject of such sale or disposition or the costs of purchase or construction of other assets useful in the business of such Loan Party unless and to the extent that such applicable period shall have expired without such replacement, purchase, or construction being made or completed, in which case, any amounts remaining in the Deposit Account referred to in [clause (C) above] shall be paid to Agent and applied in accordance with [Section 2.4(f)(ii)]; provided, that, no Loan Party nor any of its Subsidiaries shall have the right to use such Net Cash Proceeds (such prepayments to be applied as set forthmake such replacements, purchases, or construction in excess of in any given fiscal year. Nothing contained in this [Section 2.09(b)4(e)(ii)]) shall permit any Loan Party to sell or otherwise dispose of any assets other than in accordance with [Section 6.4].
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.