Asset Sales and Casualty Events. Within five Business Days of receipt by any Loan Party or any of its Restricted Subsidiaries of any cash proceeds of any sale or disposition by any Loan Party or any of its Restricted Subsidiaries of any of its assets (other than any Excluded Issuance(i) Excluded Issuance and (ii) sales or dispositions by any Joliet Subsidiary (for so long as such Joliet Subsidiary is not wholly-owned, directly or indirectly, by any Loan Party) or by any other Restricted Subsidiary that is not wholly-owned, directly or indirectly, by any Loan Party), or any cash proceeds from any casualty insurance policies or eminent domain, condemnation or similar proceedings, the Borrower shall prepay the Obligations in an amount equal to all such proceeds, net of (i) commissions and other transaction costs, fees, expenses and taxes (including tax distributions required as a result thereof) properly attributable to such transaction and payable by any Loan Party or any of its Restricted Subsidiaries in connection therewith (in each case, paid to non-Affiliates) and (ii) any debt required to be prepaid from such cash proceeds; provided that the Borrower shall not be required to prepay the Obligations with respect to (i) net proceeds from the sales or dispositions of assets permitted by SectionSections 7.6(a), (b) or (bf), (ii) net proceeds that are reinvested in assets then used or usable in the business of the Loan Parties and their Restricted Subsidiaries within 180 days following receipt thereof, so long as such proceeds are held in Controlled Accounts at SunTrust Bank or subject to Control Account Agreements until reinvested, (iii) any designation of an Unrestricted Subsidiary, (iv) any sale or disposition to a Loan Party, and (v) any other net proceeds not described in clauses (i) through (iv) that, in the aggregate for all such sales, dispositions, casualty insurance policies or eminent domain, condemnation or similar proceedings after the ClosingSecond Amendment Effective Date, do not exceed $10,000,000; provided, further, that, notwithstanding the foregoing proviso, the Borrower shall be required to prepay the Obligations with respect to proceeds from the sale of any Capital Stock of Gulf LNG permitted by Section 7.6(d). Any such prepayment shall be applied in accordance with subsection (c) of this Section.
Asset Sales and Casualty Events. Not later than the tenth Business Day following the receipt of Net Cash Proceeds with respect to any Disposition consummated pursuant to Section 6.04(h) or any Casualty Event, the Borrower shall apply 100% of the Net Cash Proceeds received with respect thereto to prepay outstanding Loans on a pro rata basis, pay interest owed pursuant to Section 2.05(e) and, solely with respect to Net Cash Proceeds from a Disposition consummated pursuant to Section 6.04(h), to pay any prepayment premium required pursuant to Section 2.05(d)(ii) below.
Asset Sales and Casualty Events. Upon (1) the consummation of any Asset Sale (other than sales permitted under Sections 6.12.1, 6.12.2, 6.12.3, or, solely with respect to real Property which is not a Mortgaged Property, 6.12.5) by the Borrower or any Subsidiary or (2) the Borrower or any Subsidiary suffering an Event of Loss, in each case within five (5) Business Days after the Borrower's or any of its Subsidiaries' receipt of any Net Cash Proceeds (or conversion to cash of non-cash proceeds (whether principal or interest and including securities, release of escrow arrangements)) received from any such Asset Sale or Event of Loss, the Borrower shall make a mandatory prepayment of the Loans, subject to the provisions governing the application of payments set forth in Section 2.2(e), in an amount equal to one hundred percent (100%) of such Net Cash Proceeds. Notwithstanding the foregoing, Net Cash Proceeds of Asset Sales or Events of Loss, with respect to which the Borrower shall have given the Administrative Agent written notice of its intention to repair or replace the Property subject to any such Asset Sale or Event of Loss or invest such Net Cash Proceeds in the purchase of assets (other than securities, unless those securities represent equity interests in an entity that becomes a Guarantor) to be used by one or more of the Borrower or the Guarantors in their businesses within one year following such Event of Loss, shall not be subject to the provisions of the first sentence of this Section 2.2(b) unless and to the extent that such applicable period shall have expired without such repair or replacement having been made.
Asset Sales and Casualty Events. Not later than five (5) Business Days following the receipt by Borrower or any Restricted Subsidiary of any Net Cash Proceeds of any Asset Sale or Casualty Event that constitute Excess Net Cash Proceeds, Borrower shall apply an amount equal to the Required Net Cash Proceeds Percentage of such Excess Net Cash Proceeds to make prepayments in accordance with Sections 2.10(h) and (i); provided that:
Asset Sales and Casualty Events. Not later than five (5) Business Days following the receipt of any Net Cash Proceeds of any Asset Sale or any Casualty Event by any Credit Party or any of its Subsidiaries, Credit Parties shall make Mandatory Prepayments of the Obligations to be applied thereto in accordance with Section 1.8 in an aggregate amount equal to 100% of such Net Cash Proceeds; provided, that such Net Cash Proceeds shall not be required to be applied as a mandatory prepayment on such date to the extent that (x) no
Asset Sales and Casualty Events. (a) Eldorado will not, and will not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless:
Asset Sales and Casualty Events. Within five Business Days after any Net Proceeds are received by or on behalf of the Company or any Subsidiary in respect of the occurrence of any Asset Sale or Casualty Event, the Company shall (i) first, until such time as the Company shall have prepaid Tranche A-2 Term Borrowings and Tranche B-2 Term Borrowings in an aggregate principal amount equal to $32,500,000 pursuant to this paragraph, prepay Tranche A-2 Term Borrowings and Tranche B-2 Term Borrowings in an aggregate amount equal to the lesser of (x) such Net Proceeds and (y) $32,500,000, until such Borrowings are repaid in full and (ii) then, prepay other Borrowings (and Tranche A-2 Term Borrowings and Tranche B-2 Term Borrowings if then outstanding) with any remaining amount of such Net Proceeds; provided that a prepayment of the Borrowings shall be required pursuant to this paragraph only to the extent that the aggregate Net Proceeds of all Asset Sales and Casualty Events in any Fiscal Year exceeds $2,500,000; provided further that any prepayment in respect of any Asset Sale or Casualty Event involving 1999 Facility Collateral shall be governed by Section 2.08(g).
Asset Sales and Casualty Events. Upon receipt on or after the Closing Date by any Credit Party or any of its Subsidiaries of (i) net cash proceeds arising from any Sale by any Credit Party of any of its property other than (x) net cash proceeds from Sales of Rig spare parts in the ordinary course of business and (y) net cash proceeds from Sales of assets with a fair market value not in excess of $250,000 per transaction (or series of related transactions) and $2,000,000 in the aggregate during the term of this Agreement which are reinvested within one hundred eighty (180) days of receipt thereof in assets useful to the business of Borrower and the other Credit Parties or (ii) net cash proceeds from any casualty or condemnation event with respect to any property of any Credit Party other than net cash proceeds not in excess of $1,000,000 in the aggregate during the term of this Agreement which are reinvested within one hundred eighty (180) days of receipt thereof in assets useful to the business of Borrower and the other Credit Parties, Borrower shall immediately pay or cause to be paid to Lender an amount equal to 100% of such net cash proceeds and Lender shall apply the same to the Obligations in such manner as Lender may elect in its sole discretion.
Asset Sales and Casualty Events. Not later than five (5) Business Days following the receipt of any Net Cash Proceeds of any Asset Sale or any Casualty Event by any Credit Party or any of its Subsidiaries,
Asset Sales and Casualty Events. The Company shall make mandatory principal prepayments of the Loans in the manner set forth in sub-clause (iii) below in amounts equal to 100% of the aggregate Net Cash Proceeds from (A) any Asset Sale (other than any Excluded Asset Sale) occurring during the Covenant Relief Period and (b) any Casualty Event occurring during the Covenant Relief Period (except to the extent the Company shall notify the Administrative Agent that the Company intends to reinvest such Net Cash Proceeds from such Casualty Event in the restoration or rebuilding of the applicable affected asset). Such prepayment shall be made within five Business Days after the Net Cash Proceeds Receipt Date of such Asset Sale or Casualty Event, as applicable (for the avoidance of doubt, it being understood that if the Net Cash Proceeds Receipt Date occurs after the Covenant Relief Period Termination Date, then no such prepayment shall be required).
