LIMITATION ON USE OF REVENUES Clause Samples
LIMITATION ON USE OF REVENUES. A State shall use any revenues received from the com- mercial activities in a rest area under this sec- tion to cover the costs of acquiring, construct- ing, operating, and maintaining rest areas in the State.
LIMITATION ON USE OF REVENUES. The Company shall, and shall cause all of and its Subsidiaries to, apply, within 180 days after receipt thereof, all revenues generated from their respective operations only to (i) permanently repay Indebtedness of the Company or any Subsidiary under the Credit Facilities, and any such permanent reductions shall be effected in accordance with the documents and instruments evidencing the Credit Facilities, or (ii) fund operating expenses and reasonable capital expenditures of the Company and its Subsidiaries, or (iii) make Investments and Restricted Payments permitted under this Indenture. Any revenues not applied according to the previous paragraph shall constitute "Excess Revenues." If, as of the first day of any calendar month, the aggregate amount of Excess Revenues not theretofore subject to an Offer to Purchase pursuant to this Section 4.20 totals at least $2.0 million, the Company must commence, not later than the fifteenth Business Day of such month, and consummate, an Offer to Purchase from the Holders of the Notes on a pro rata basis an aggregate principal amount of Notes equal to the Excess Revenues on such date, at a purchase price equal to 100% of the principal amount of the Notes on the relevant Payment Date plus, in each case, accrued and unpaid interest (if any) to the Payment Date.