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Dispositions and Involuntary Dispositions
Dispositions and Involuntary Dispositions contract clause examples

Dispositions and Involuntary Dispositions. The Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Dispositions consummated in reliance on [Section 7.05(c)] and all Involuntary Dispositions, to the extent that such Net Cash Proceeds # exceed $15,000,000 in any Fiscal Year and # are not reinvested in property (other than current assets) that is used or useful in the line of businesses of the Borrower and its Subsidiaries within three-hundred and sixty (360) days after the receipt of such Net Cash Proceeds (or, if committed to be reinvested in such property within three-hundred and sixty (360) days after receipt thereof, within one-hundred and eighty (180) days following such commitment); provided, that, such Net Cash Proceeds that have not been so reinvested shall, within three (3) Business Days after such reinvestment period expires, be applied to prepay the Loans and/or Cash Collateralize the L/C Obligations.

Dispositions and Involuntary Dispositions. The Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Dispositions consummated in reliance on [Section 7.05(c)] and all Involuntary Dispositions, to the extent that such Net Cash Proceeds # exceed $15,000,000 in any Fiscal Year and # are not reinvested in property (other than current assets) that is used or useful in the line of businesses of the Borrower and its Subsidiaries within three-hundred and sixty (360) days after the receipt of such Net Cash Proceeds (or, if committed to be reinvested in such property within three-hundred and sixty (360) days after receipt thereof, within one-hundred and eighty (180) days following such commitment); provided, that, such Net Cash Proceeds that have not been so reinvested shall, within three (3) Business Days after such reinvestment period expires, be applied to prepay the Loans and/or Cash Collateralize the L/C Obligations.

Dispositions and Involuntary Dispositions. The Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Dispositions 1">consummated in reliance on [Section 7.05(c)]1">(other than Dispositions generating less than $200,000 of Net Cash Proceeds) and 3">all Involuntary 5">Dispositions, to5">Dispositions within five (5) Business Days of the 7">extent7">date of such Disposition or Involuntary Disposition; provided, however, that9"> so long as no Event of Default shall have occurred and be continuing, such Net Cash Proceeds 11">shall not be required to be so applied # 13">exceed $15,000,00013">until the aggregate amount of the Net Cash Proceeds derived from any such Disposition or Involuntary Disposition in any 15">Fiscal Year and # are not reinvested in property (other than current assets) that is used or useful in the line of businesses15">fiscal year of the Borrower 17">is equal to or greater than $5,000,000 and 19"># if, at the election of the Borrower (as notified by the Borrower to the Administrative Agent on or prior to the date of such Disposition or Involuntary Disposition), such Loan Party (directly or through one or more of its 21">Subsidiaries within three-hundred and sixty (360) days after the receipt21">Subsidiaries) reinvests all or any portion of such Net Cash Proceeds 23">(or, if committed23">in operating assets (other than current assets) within 365 days of the date of such Disposition or Involuntary Disposition (or to 25">be reinvested in25">the extent it commits within such 27">property27">365-day period to make such reinvestment, within 29">three-29">one hundred31"> and sixty (360) days after receipt thereof, within one-hundred and eighty (180) days 33">following33">after such 35">commitment)35">365-day period); provided, 37">further, that,39"> for purposes of the [foregoing clause (B)], if such Net Cash Proceeds 41">that41">shall have not been so reinvested 43">shall,43">by the end of such period(s), such Net Cash Proceeds shall be applied within 45">three (3)45">five (5) Business Days after 47">the last day of such 49">reinvestment period51"> expires, be applied to prepay the Loans and/or Cash Collateralize the L/C 53">Obligations.53">Obligations as provided in this [Section 2.05(b)]. Any prepayment pursuant to this clause (ii) shall be applied as set forth in clause (iii) below.

Dispositions and Involuntary Dispositions. The Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by 1">any Loan Party1">Borrowers or any Subsidiary from all Dispositions 3">consummated in reliance on [Section 7.05(c)]3">(other than Permitted Transfers) and 5">all Involuntary 7">Dispositions, to7">Dispositions within ten (10) Business Days of the 9">extent9">date of such Disposition or Involuntary Disposition; provided, however, that11"> so long as no Default shall have occurred and be continuing, such Net Cash Proceeds 13">shall not be required to be so applied # 15">exceed $15,000,00015">until the aggregate amount of the Net Cash Proceeds derived from any such Disposition or Involuntary Disposition in any 17">Fiscal Year and # are not reinvested in property (other than current assets) that is used or useful in the line of businesses17">fiscal year of the Borrower 19">is equal to or greater than $2,500,000 and 21">its Subsidiaries21"># at the election of the Borrower (as notified by the Borrower to the Administrative Agent on or prior to the date of such Disposition or Involuntary Disposition) to the extent such Loan Party or such Subsidiary reinvests all or any portion of such Net Cash Proceeds in like assets (but specifically excluding current assets as classified by GAAP) within 23">three-hundred and sixty (360) days23">12 months after the receipt of such Net Cash Proceeds 25">(or, if committed to be reinvested in such property within three-hundred and sixty (360) days after receipt thereof, within one-hundred and eighty (180) days following such commitment); provided, that,25">(or reinvests all or any portion of such Net Cash Proceeds 27">that27">in like assets within 18 months after receipt thereof if a contractual commitment to reinvest is entered into within 12 months after receipt thereof); provided that, if such Net Cash Proceeds shall have not been so 29">reinvested shall, within three (3) Business Days after29">reinvested, such 31">reinvestment period expires,31">Net Cash Proceeds shall be33"> immediately applied to prepay the Loans and/or Cash Collateralize the L/C Obligations.

Dispositions and Involuntary Dispositions. The 1">Borrowers (as to the Foreign Borrower, limited to prepayment of Foreign Obligations, and limited to Net Cash Proceeds received by the Foreign Borrower3"> or any of its Subsidiaries from any Disposition referred to below) shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Dispositions 5">consummated in reliance on5">(other than Dispositions permitted pursuant to [Section 7.05(7">c)]7">b), (c), (d), (e) and 9">all9">(h)])])])])]) and Involuntary Dispositions, 11">as to 13">each receipt of any Net Cash Proceeds, within five (5) Business Days of the 15">extent15">later of the date of the related Disposition and the date of such receipt; provided, however, # that17"> so long as no Default shall have occurred and be continuing, such Net Cash Proceeds 19">shall not be required to be so applied # 21">exceed $15,000,00021">until the aggregate amount of the Net Cash Proceeds derived from any such Disposition or Involuntary Disposition in any 23">Fiscal Year23">fiscal year of the Domestic Borrower is equal to or greater than $1,000,000 and # 25">are not reinvested in property (other than current assets) that is used or useful in25">at the 27">line of businesses27">election of the 29">Domestic Borrower 31">and its Subsidiaries31">(as notified by the Domestic Borrower to the Administrative Agent on or prior to the date of such Disposition or Involuntary Disposition) to the extent such Loan Party or such Subsidiary reinvests all or any portion of such Net Cash Proceeds in like assets (but specifically excluding current assets as classified by GAAP) within 33">three-33">one hundred 35">and sixty (360)35">eighty (180) days after the receipt of such Net Cash 37">Proceeds (or,37">Proceeds; provided that if39"> committed to be reinvested in such property within three-hundred and sixty (360) days after receipt thereof, within one-hundred and eighty (180) days following such commitment); provided, that, such Net Cash Proceeds 41">that41">shall have not been so reinvested 43">shall, within three (3) Business Days after such reinvestment period expires,43">they shall be45"> immediately applied to prepay the Loans and/or Cash Collateralize the L/C 47">Obligations.47">Obligations and # that for Dispositions permitted pursuant to [Section 7.05(f), (g) and (i)])])], the Borrowers (as to the Foreign Borrower, limited to prepayment of Foreign Obligations, and limited to Net Cash Proceeds received by the Foreign Borrower or any of its Subsidiaries from any such Disposition) shall prepay the Loans

Dispositions and Involuntary Dispositions. The 1">Borrowers (as to the Foreign Borrower, limited to prepayment of Foreign Obligations, and limited to Net Cash Proceeds received by the Foreign Borrower3"> or any of its Subsidiaries from any Disposition referred to below) shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Dispositions 5">consummated in reliance on5">(other than Dispositions permitted pursuant to [Section 7.05(7">c)]7">b), (c), (d), (e) and 9">all9">(h)])])])])]) and Involuntary Dispositions, 11">as to 13">each receipt of any Net Cash Proceeds, within five (5) Business Days of the 15">extent15">later of the date of the related Disposition and the date of such receipt; provided, however, # that17"> so long as no Default shall have occurred and be continuing, such Net Cash Proceeds 19">shall not be required to be so applied # 21">exceed $15,000,00021">until the aggregate amount of the Net Cash Proceeds derived from any such Disposition or Involuntary Disposition in any 23">Fiscal Year23">fiscal year of the Domestic Borrower is equal to or greater than $1,000,000 and # 25">are not reinvested in property (other than current assets) that is used or useful in25">at the 27">line of businesses27">election of the 29">Domestic Borrower 31">and its Subsidiaries31">(as notified by the Domestic Borrower to the Administrative Agent on or prior to the date of such Disposition or Involuntary Disposition) to the extent such Loan Party or such Subsidiary reinvests all or any portion of such Net Cash Proceeds in like assets (but specifically excluding current assets as classified by GAAP) within 33">three-33">one hundred 35">and sixty (360)35">eighty (180) days after the receipt of such Net Cash 37">Proceeds (or,37">Proceeds; provided that if39"> committed to be reinvested in such property within three-hundred and sixty (360) days after receipt thereof, within one-hundred and eighty (180) days following such commitment); provided, that, such Net Cash Proceeds 41">that41">shall have not been so reinvested 43">shall, within three (3) Business Days after such reinvestment period expires,43">they shall be45"> immediately applied to prepay the Loans and/or Cash Collateralize the L/C 47">Obligations.47">Obligations and # that for Dispositions permitted pursuant to [Section 7.05(f), (g) and (i)])])], the Borrowers (as to the Foreign Borrower, limited to prepayment of Foreign Obligations, and limited to Net Cash Proceeds received by the Foreign Borrower or any of its Subsidiaries from any such Disposition) shall prepay the Loans

0">“(i) Dispositions and Involuntary Dispositions. The 2">Borrowers (as to the Foreign Borrower, limited to prepayment of Foreign Obligations, and limited to Net Cash Proceeds received by the Foreign Borrower4"> or any of its Subsidiaries from any Disposition referred to below) shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Dispositions 6">consummated in reliance on6">(other than Dispositions permitted pursuant to [Section 7.05(8">c)]8">b), (c), (d), (e), and 10">all10">(h) and (k)])])])])])]) and Involuntary Dispositions, 12">as to 14">each receipt of any Net Cash Proceeds, within five (5) Business Days (or, in the 16">extent16">case of any such Disposition made by any Subsidiary of the Domestic Borrower organized under the laws of a jurisdiction in Asia that18"> is not a Loan Party, within thirty (30) days) of the later of the date of the related Disposition and the date of such receipt; provided, however, # that so long as no Default shall have occurred and be continuing, such Net Cash Proceeds 20">shall not be required to be so applied # 22">exceed $15,000,00022">until the aggregate amount of the Net Cash Proceeds derived from any such Disposition or Involuntary Disposition in any 24">Fiscal Year24">fiscal year of the Domestic Borrower is equal to or greater than $1,000,000$30,000,000 and # 26">are not reinvested in property (other than current assets) that is used or useful in26">at the 28">line of businesses28">election of the 30">Domestic Borrower 32">and its Subsidiaries32">(as notified by the Domestic Borrower to the Administrative Agent on or prior to the date of such Disposition or Involuntary Disposition) to the extent such Loan Party or such Subsidiary intends to reinvest or reinvests all or any portion of such Net Cash Proceeds in like assets (but specifically excluding current assets as classified by GAAP) within 34">three-34">one hundred 36">and sixty (360)36">eighty (180) days after the receipt of such Net Cash 38">Proceeds (or,38">Proceeds; provided that if40"> committed to be reinvested in such property within three-hundred and sixty (360) days after receipt thereof, within one-hundred and eighty (180) days following such commitment); provided, that, such Net Cash Proceeds 42">that42">shall have not been 44">so reinvested 46">shall, within 48">three (3) Business Days after such reinvestment period expires,48">the foregoing timeframe, they shall then be50"> immediately applied to prepay the Loans and/or52"> Cash Collateralize the L/C Obligations.

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