Common use of Excluded proceeds Clause in Contracts

Excluded proceeds. (a) Where Excluded Disposal Proceeds or Excluded Insurance Proceeds include amounts which are intended to be used for a specific purpose within a specified period (as set out in the definition of “Excluded Disposal Proceeds” or “Excluded Insurance Proceeds”), the Borrower shall ensure that those amounts are used for that purpose and, if requested to do so by the Facility Agent, shall deliver a certificate to the Facility Agent at the time of such application and at the end of such period confirming the amount (if any) which has been so applied within such period provided for in such definition. (b) Any amount of Excluded Disposal Proceeds or Excluded Insurance Proceeds that is not applied within the applicable time period specified in the definition of “Excluded Disposal Proceeds” or “Excluded Insurance Proceeds” towards the applicable purpose(s) specified in such definition shall cease to be Excluded Disposal Proceeds or Excluded Insurance Proceeds (as the case may be) upon the expiry of such period, and shall (upon the expiry of such period) constitute Disposal Proceeds or Insurance Proceeds (as the case may be) that are required to be applied towards prepayment of the Loan(s) pursuant to Clause 8.1 (Debt, Disposal, Equity Issuance and Insurance Proceeds) and Clause 8.2 (Application of mandatory prepayments and cancellations).

Excluded proceeds. (a) Where Excluded Recovery Proceeds, Excluded Disposal Proceeds or and Excluded Insurance Proceeds include amounts which are intended to be used for a specific purpose within a specified period (as set out in the definition of “Excluded Recovery Proceeds”, “Excluded Disposal Proceeds” or or, as the case may be, “Excluded Insurance Proceeds”), the Borrower shall ensure that those amounts are used for that purpose and, if requested to do so by the Facility AgentAgent (acting reasonably), shall deliver a certificate to the Facility Agent at the time of such application and at the end of such period confirming the amount (if any) which has been so applied within such period provided for in such definition. (b) Any amount of Excluded Recovery Proceeds, Excluded Disposal Proceeds or Excluded Insurance Proceeds that is not applied within the applicable time period specified in the definition of “Excluded Recovery Proceeds”, “Excluded Disposal Proceeds” or or, as the case may be, “Excluded Insurance Proceeds” towards the applicable purpose(s) specified in such definition shall cease to be Excluded Recovery Proceeds, Excluded Disposal Proceeds or Excluded Insurance Proceeds (as the case may be) upon the expiry of such period, and shall (upon the expiry of such period) constitute Recovery Proceeds, Disposal Proceeds or Insurance Proceeds (as the case may be) that are required to be applied towards prepayment of the Loan(s) Loan pursuant to Clause 8.1 8.2 (Debt, Disposal, Equity Issuance Insurance and Insurance Recovery Proceeds) and Clause 8.2 8.6 (Application of mandatory prepayments and cancellations), subject to Clause 8.9 (Trapped Amount).

Excluded proceeds. (a) Where Excluded Recovery Proceeds, Excluded Disposal Proceeds or and Excluded Insurance Proceeds include amounts which are intended to be used for a specific purpose within a specified period (as set out in the definition of “Excluded Recovery Proceeds”, “Excluded Disposal Proceeds” or or, as the case may be, “Excluded Insurance Proceeds”), the Borrower shall ensure that those amounts are used for that purpose and, if requested to do so by the Facility AgentAgent (acting reasonably), shall deliver a certificate to the Facility Agent at the time of such application and at the end of such period confirming the amount (if any) which has been so applied within such period provided for in such definition. (b) Any amount of Excluded Recovery Proceeds, Excluded Disposal Proceeds or Excluded Insurance Proceeds that is not applied within the applicable time period specified in the definition of “Excluded Recovery Proceeds”, “Excluded Disposal Proceeds” or or, as the case may be, “Excluded Insurance Proceeds” towards the applicable purpose(s) specified in such definition shall cease to be Excluded Recovery Proceeds, Excluded Disposal Proceeds or Excluded Insurance Proceeds (as the case may be) upon the expiry of such period, and shall (upon the expiry of such period) constitute Recovery Proceeds, Disposal Proceeds or Insurance Proceeds (as the case may be) that are required to be applied towards prepayment of the Loan(s) Loan pursuant to Clause 8.1 8.2 (Debt, Disposal, Equity Issuance Insurance and Insurance Recovery Proceeds) and Clause 8.2 8.7 (Application of mandatory prepayments and cancellations), subject to Clause 8.10 (Trapped Amount).