Noncash Proceeds Sample Clauses

Noncash Proceeds. Notwithstanding anything contained herein to the contrary, if the Administrative Agent shall ever acquire any Collateral through foreclosure or by a conveyance in lieu of foreclosure or by retaining any of the Collateral in satisfaction of all or part of the Obligations or if any proceeds of Collateral received by the Administrative Agent to be distributed and shared pursuant to this Section 2.18 are in a form other than immediately available funds, the Administrative Agent shall not be required to remit any share thereof under the terms hereof and the Secured Parties shall only be entitled to their undivided interests in the Collateral or noncash proceeds as determined by paragraph (f) of this Section 2.18. The Secured Parties shall receive the applicable portions (in accordance with the foregoing paragraph (f)) of any immediately available funds consisting of proceeds from such Collateral or proceeds of such noncash proceeds so acquired only if and when received by the Administrative Agent in connection with the subsequent disposition thereof. While any Collateral or other property to be shared pursuant to this Section is held by the Administrative Agent pursuant to this paragraph (g), the Administrative Agent shall hold such Collateral or other property for the benefit of the Secured Parties and all matters relating to the management, operation, further disposition or any other aspect of such Collateral or other property shall be resolved by the agreement of the Required Lenders.
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Noncash Proceeds. Notwithstanding anything contained herein to the contrary, if Revolver Agent shall ever acquire any Shared Collateral through foreclosure or by a conveyance in lieu of foreclosure or if any Proceeds of Shared Collateral received by Revolver Agent (or received directly by either Secured Party or any Lender) to be distributed and shared pursuant to this Article II are in a form other than immediately available funds, the Person receiving such Shared Collateral or Proceeds of Shared Collateral shall not be required to remit any share thereof under the terms hereof and the Lenders shall only be entitled to their interests in the Shared Collateral or noncash Proceeds of Shared Collateral as determined hereby. The Lenders shall receive the applicable portions of any immediately available funds consisting of Proceeds from such Shared Collateral or proceeds of such noncash Proceeds so acquired only if and when paid in connection with the subsequent disposition thereof. While any Shared Collateral or other property to be shared pursuant to this Article II is held by Revolver Agent pursuant to this Section 2.11, Revolver Agent shall hold such Shared Collateral or other property for the benefit of the Revolver Lenders and the Term Loan Agent in accordance with their interest therein and all matters relating to the management, operation, further disposition or any other aspect of such Shared Collateral or other property shall be resolved by the agreement of (a) the required number of Revolver Lenders (as determined in accordance with the Revolver Agreement) until the date set forth in Section 2.6(c)(ii) occurs and thereafter (b) the required number of Term Lenders (as determined in accordance with the Term Loan Agreement).
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Noncash Proceeds. Each Debtor agrees that ---------------- Agent shall be under no obligation to accept any noncash proceeds unless failure to do so would be commercially unreasonable. If Agent agrees in its sole discretion to accept noncash proceeds, Agent may ascribe any reasonable value to such proceeds. Agent may apply any discount factor in determining the present value of proceeds to be received in the future.
Sample 1
Noncash Proceeds. Notwithstanding any other provision herein to the contrary, the value of all assets and the amount of Indebtedness represented by a debt instrument received as noncash proceeds from Asset Dispositions after the date hereof shall not exceed, in the case of such assets, an aggregate $5,000,000 at any one time outstanding and, in the case of such Indebtedness, an aggregate of $5,000,000 at any one time outstanding.
Sample 1
Noncash Proceeds. Notwithstanding anything to the contrary contained herein, if the Agent shall ever acquire any Collateral through foreclosure or by a conveyance in lieu of foreclosure or by retaining any of the Collateral in satisfaction of all or part of the Obligations or if any proceeds of Collateral received by the Agent to be distributed and shared pursuant to this Section 4.9 are in a form other than immediately available funds, the Agent shall not be required to remit any share thereof under the terms hereof and the Lenders shall only be entitled to their undivided interests in the Collateral or noncash proceeds as determined hereby. The Lenders shall receive the application portions (in accordance with Section 4.9(a)) of any immediately available funds consisting of proceeds
Sample 1
Noncash Proceeds. Each Debtor agrees that Administrative Agent shall be under no obligation to accept any noncash proceeds unless failure to do so would be commercially unreasonable. If Administrative Agent agrees in its sole discretion to accept noncash proceeds, the Administrative Agent may ascribe any reasonable value to such proceeds. The Administrative Agent may apply any discount factor in determining the present value of proceeds to be received in the future.
Sample 1
Noncash Proceeds. If the proceeds from a sale or other disposition of an item of Company property consist of property other than cash, the value of that property shall be as determined by the Managers. If such noncash proceeds are subsequently reduced to cash, such cash shall be taken into account by the Managers in determining Available Cash.
Sample 1
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Noncash Proceeds. Pledgor agrees that Agent ---------------- shall be under no obligation to accept any noncash proceeds unless failure to do so would be commercially unreasonable. If Agent agrees in its sole discretion to accept noncash proceeds, Agent may ascribe any reasonable value to such proceeds. Agent may apply any discount factor in determining the present value of proceeds to be received in the future.
Sample 1

Related to Noncash Proceeds

  • Cash Proceeds In addition to the rights of the Collateral Agent specified in Section 4.3 with respect to payments of Receivables, all proceeds of any Collateral received by any Grantor consisting of cash, checks and other non-cash items (collectively, “Cash Proceeds”) shall be held by such Grantor in trust for the Collateral Agent, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, unless otherwise provided pursuant to Section 4.4(a)(ii), be turned over to the Collateral Agent in the exact form received by such Grantor (duly indorsed by such Grantor to the Collateral Agent, if required) and held by the Collateral Agent in the Collateral Account. Any Cash Proceeds received by the Collateral Agent (whether from a Grantor or otherwise): (i) if no Event of Default shall have occurred and be continuing, shall be held by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured or unmatured) and (ii) if an Event of Default shall have occurred and be continuing, may, in the sole discretion of the Collateral Agent, (A) be held by the Collateral Agent for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured or unmatured) and/or (B) then or at any time thereafter may be applied by the Collateral Agent against the Secured Obligations then due and owing.

  • Sale Proceeds The proceeds of sale of any new Series of Notes shall be wired to the Collection and Funding Account, and the Indenture Trustee shall disburse such sale proceeds at the direction of the Administrator on behalf of the Issuer, except to the extent such funds are needed to satisfy the Collateral Test. The Administrator on behalf of the Issuer may direct the Issuer to apply such proceeds to reduce pro rata based on Invested Amounts, the VFN Principal Balance of any Classes of Variable Funding Notes, or to redeem any Series of Notes in accordance with Section 13.1. In the absence of any such direction, the proceeds of such sale shall be distributed to the Depositor or at the Depositor’s direction on the Issuance Date for the newly issued Notes. The Administrator shall deliver to the Indenture Trustee a report demonstrating that the release of sale proceeds pursuant to the Issuer’s direction will not cause a failure of the Collateral Test, as a precondition to the Indenture Trustee releasing such proceeds.

  • Asset Dispositions, etc The Borrower will not, and will not permit any of its Subsidiaries to, sell, transfer, contribute or otherwise convey, or grant options, warrants or other rights with respect to, any material asset (including accounts receivable and capital stock of Principal Subsidiaries) to any Person, except:

  • Asset Dispositions Make any Asset Disposition except:

  • Condemnation Proceeds all Condemnation Proceeds other than proceeds to be applied to the restoration or repair of the property subject to the related Mortgage or released to the related Mortgagor in accordance with the Servicing Standard, which proceeds shall be deposited by the Master Servicer into an Escrow Account and not deposited in the Collection Account;

  • Asset Sales (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless:

  • Asset Sale In the event of an Acquisition that is an arms length sale of all or substantially all of Company’s assets (and only its assets) to a third party that is not an Affiliate of Company (a “True Asset Sale”), Holder may either (a) exercise its conversion or purchase right under this Warrant and such exercise will be deemed effective immediately prior to the consummation of such Acquisition or (b) permit the Warrant to continue until the Expiration Date if Company continues as a going concern following the closing of any such True Asset Sale. Company shall provide Holder with written notice of any proposed asset sale together with such reasonable information as Holder may request in connection with such asset sale giving rise to such notice, which is to be delivered to Holder not less than ten (10) business days prior to the closing of the proposed asset sale.

  • Gross Proceeds The aggregate purchase price of all Shares sold for the account of the Company through all Offerings, without deduction for Sales Commissions, volume discounts, any marketing support and due diligence expense reimbursement or Organization and Offering Expenses. For the purpose of computing Gross Proceeds, the purchase price of any Share for which reduced Sales Commissions are paid to the Dealer Manager or a Soliciting Dealer (where net proceeds to the Company are not reduced) shall be deemed to be the full amount of the offering price per Share pursuant to the Prospectus for such Offering without reduction.

  • Net Proceeds The Company will apply the net proceeds from the Offering and the sale of the Private Placement Warrants received by it in a manner consistent with the applications described under the caption “Use of Proceeds” in the Statutory Prospectus and the Prospectus.

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

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