Refinancing Proceeds Sample Clauses
Refinancing Proceeds. Upon the incurrence of any Permitted Refinancing, the Borrower shall promptly, and in any event within five (5) Business Days of receipt of the cash proceeds of such Permitted Refinancing prepay the Loan in an amount equal to the principal amount of such Permitted Refinancing, after deducting (a) any reasonable expenses which are incurred by any Group Member with respect to that Permitted Refinancing and (b) any Tax incurred and required to be paid or to be incurred by any Group Member in connection with that Permitted Refinancing (as reasonably determined by such Group Member).
Refinancing Proceeds. 24 Regulations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Refinancing Proceeds. Upon receipt by any Group Member of proceeds from any Debt Issuance, net of brokers’ and advisers’ fees and other costs incurred in connection with such refinancing (provided, however, that evidence of such costs is provided to the Facility Agents in form and substance reasonably satisfactory to them), the Borrowers shall immediately prepay the Term Loans in an amount equal to 100% of the proceeds of such Debt Issuance. Any such mandatory prepayment shall be applied in accordance with Section 2.10(f) below.
Refinancing Proceeds. The excess of the gross proceeds of any borrowings by the Partnership other than the initial Loans set forth on Exhibit A-3 and any other Loans approved by the Limited Partner over the sum of the following to the extent paid out of such gross proceeds:
Refinancing Proceeds. Any proceeds of a refinancing of a Property in -------------------- excess of the Senior Loan being refinanced but less than the Early Buy-Out Price for the Property shall be applied by the Lessor to reduce the Lessor's Cost for such Property. Any proceeds of a refinancing of a Property in excess of the Early Buy-Out Price for such Property shall be "Refinancing Proceeds". -------------------- Refinancing Proceeds received by the Lessor shall be applied by the Lessor as follows: (i) at any time that the Lease Balance reduced by amounts on deposit in ------- the Cash Collateral Account and increased by the amount of Recourse Debt is --------- $34,000,000.00 or greater, the Guarantor is in compliance with the financial covenants in the Guarantee, and no Event of Default has occurred which is continuing, (x) any payment of Refinancing Proceeds shall be retained by the Lessor and applied by the Lessor to reduce the Lessor's Costs for the Properties and Loans on a pro rata basis or otherwise as mutually agreed by the Lessor and the Lessee, and (y) an amount equal to fifteen percent of such payment of Refinancing Proceeds shall be released to the Lessee from the Cash Collateral Account (or, to the extent of any insufficiency in the Cash Collateral Account, the Lessee will be entitled to a release of the next monies deposited in the Cash Collateral Account) , and (ii) at any time that the Lease Balance reduced ------- by amounts on deposit in the Cash Collateral Account and increased by the amount --------- of Recourse Debt is less than $34,000,000.00, the Guarantor is in compliance with the financial covenants in the Guarantee, and no Event of Default has occurred which is continuing, (x) any payment of Refinancing Proceeds shall be retained by the Lessor and applied by the Lessor to reduce the Lessor's Costs for the Properties and Loans on a pro rata basis or otherwise as mutually agreed by the Lessor and the Lessee, and (y) an amount equal to twenty-five percent of such payment of Refinancing Proceeds shall be released to the Lessee from the Cash Collateral Account (or, to the extent of any insufficiency in the Cash Collateral Account, the Lessee will be entitled to a release of the next monies deposited in the Cash Collateral Account); provided, however, that upon Full -------- ------- Collateralization, one hundred percent of any payments of Refinancing Proceeds shall be retained by the Lessor and applied by the Lessor to reduce the Lessor's Costs for the Pr...