Asset Disposition Prepayment. Subject to the terms of the Intercreditor Agreement, the Borrower shall pay to the Administrative Agent, for the accounts of the Lenders (each, an “Asset Disposition Prepayment”), immediately upon the receipt by the Borrower of the proceeds of any asset dispositions, an amount equal to one hundred percent (100%) of the Net Proceeds received by the Borrower in connection with such asset disposition.
Appears in 2 contracts
Samples: Term Loan Credit Agreement (Whitehall Jewellers Inc), Subordinated Credit Agreement (Whitehall Jewelers Holdings, Inc.)
Asset Disposition Prepayment. Subject to the terms of the Intercreditor Agreement, the Borrower shall pay to the Administrative Agent, for the accounts of the Lenders (each, an “"Asset Disposition Prepayment”"), immediately upon the receipt by the Borrower of the proceeds of any asset dispositions, an amount equal to one hundred percent (100%) of the Net Proceeds received by the Borrower in connection with such asset disposition.
Appears in 2 contracts
Samples: Credit Agreement (BTHC VII Inc), Credit Agreement (Whitehall Jewellers Inc)
