Repayments from Insurance Proceeds. Borrower shall repay the Term Loans in an amount equal to the Net Proceeds received by Borrower or any of its Subsidiaries which are insurance proceeds from any Asset Disposition to the extent that such proceeds are not reinvested in equipment or other assets that are used or useful in the business of Borrower or any of its Subsidiaries within 180 days of receipt by Borrower or such Subsidiary of such proceeds. All such repayments shall be applied in accordance with Subsection 1.8. All such repayments shall be accompanied by accrued interest on the amount repaid and any applicable Breakage Fees.
Repayments from Insurance Proceeds. Immediately upon receipt thereof, Borrower shall be obligated to repay the Loans (or reduce the Letter of Credit Usage by providing cash collateral for the Letter of Credit Usage in the manner set forth in Subsection 1.16) in an amount equal to all Net Proceeds received by Borrower or any Subsidiary of Borrower that are insurance proceeds from any Asset Disposition (which Net Proceeds, together with all other such Net Proceeds covered by this Subsection 1.7(B), exceed $5,000,000 in the aggregate per fiscal year or $15,000,000 in the aggregate over the term of this Agreement); provided, however, that if no Event of Default has occurred and is continuing, Borrower shall not be required to repay the Loans with such Net Proceeds if Borrower or such Subsidiary (i) has previously applied cash or (ii) applies such Net Proceeds in assets used or useful to Borrower’s or its Subsidiaries business (subject to the terms and provisions of this Agreement) within 180 days of receipt by Borrower or such Subsidiary of such Net Proceeds. All such repayments shall be paid and applied in accordance with Subsection 1.8 (if upon the expiration of such 180-day period any of such Net Proceeds have not been so applied, Borrower immediately shall repay the Loans (or reduce the Letter of Credit Usage by providing cash collateral for the Letter of Credit Usage in the manner set forth in Subsection 1.16) in an amount equal to such remaining Net Proceeds). All prepayments shall be accompanied by accrued interest on the amount prepaid and any applicable Breakage Fees and any other fees required pursuant to Subsection 1.4.
Repayments from Insurance Proceeds. Immediately upon receipt thereof, Borrower shall be obligated to repay the Loans (or reduce the Letter of Credit Liability pursuant to Subsection 1.16) in an amount equal to all Net Proceeds received by Borrower or any Subsidiary of Borrower that are insurance proceeds from any Asset Disposition (which Asset Disposition, together with all other such Asset Dispositions covered by this Subsection 1.7(B), exceeds $3,000,000 in the aggregate over the term of this Agreement); provided, however, that if no Default or Event of Default has occurred and is continuing, Borrower shall not be required to repay the Loans with the Net Proceeds if Borrower or such Subsidiary (i) has previously applied cash or (ii) applies such Net Proceeds, to repair or replace the lost, damaged or destroyed assets within 180 days of receipt by Borrower or such Subsidiary of such Net Proceeds. All such repayments shall be paid and applied in accordance with Subsection 1.8. All prepayments shall be accompanied by accrued interest on the amount prepaid and any applicable Breakage Fees.
Repayments from Insurance Proceeds. Immediately upon receipt thereof, Borrower shall be obligated to repay the Loans in an amount equal to all Net Proceeds received by Borrower or any of its Subsidiaries which are insurance proceeds from any Asset Disposition; provided, however, if no Default or Event of Default has occurred and is continuing, that Borrower shall not be required to apply such Net Proceeds to repay the Loans to the extent that such Net Proceeds are used by Borrower or such Subsidiary to repair or replace the lost, damaged or destroyed assets within one hundred twenty (120) days of receipt by Borrower or such Subsidiary of such Net Proceeds. All such repayments shall be paid and applied in accordance with Subsection 1.8.
Repayments from Insurance Proceeds. Borrower shall repay the Loans in an amount equal to one hundred percent (100%) of the Net Proceeds in excess of $1,000,000 in a calendar year received by any Loan Party which are insurance proceeds from any Asset Disposition to the extent that such proceeds are not reinvested in equipment or other assets that are used or useful in the business of Loan Parties, within one hundred eighty (180) days of receipt by such Loan Party of such proceeds; provided, that (i) to the extent such new assets are personal property or real property, which real property has a market value in excess of $3,000,000, such new assets are subject to the lien of Administrative Agent under the Security Documents, subject only to Permitted Encumbrances, and (ii) until so applied, such Net Proceeds shall be deposited in a deposit account of which Administrative Agent has control (as defined in Article 9 of the Uniform Commercial Code in effect in the State of Colorado, as amended from time to time). All such repayment shall be applied in accordance with Subsection 1.8.
Repayments from Insurance Proceeds. Borrower shall repay the ---------------------------------- Loans in an amount equal to all Net Proceeds received by Borrower or any of its Restricted Subsidiaries which are insurance proceeds from any Asset Disposition to the extent that such proceeds are not reinvested in equipment or other assets that are used or useful in the business of Borrower or such Restricted Subsidiary, as applicable, within nine months of receipt by Borrower or such Restricted Subsidiary of such proceeds; provided, -------- however, that in the event of an Asset Disposition by Texas Unwired, prepayment ------- pursuant to this Subsection 1.7(C) will only be required in proportion to LA Unwired's percentage ownership interest in Texas Unwired. All such repayments shall be applied in accordance with Subsection 1.8.
Repayments from Insurance Proceeds. Immediately upon receipt thereof, Borrower shall be obligated to repay the Loans (or reduce the Letter of Credit Usage by providing cash collateral for the Letter of Credit Usage in the manner set forth in Subsection 1.16) in an amount equal to all Net Proceeds received by Borrower or any Subsidiary of Borrower that are insurance proceeds from any Asset Disposition (which Net Proceeds, together with all other such Net Proceeds covered by this Subsection 1.7(B), exceeds $5,000,000 in the aggregate over the term of this Agreement); provided, however, that if no Event of Default has occurred and is continuing, Borrower shall not be required to repay the Loans with the Net Proceeds if Borrower or such Subsidiary (i) has previously applied cash or (ii) applies such Net Proceeds to repair or replace the lost, damaged or destroyed assets within 180 days of receipt by Borrower or such Subsidiary of such Net Proceeds. All such repayments shall be paid and applied in accordance with Subsection 1.8 (if upon the expiration of such 180-day period any of such Net Proceeds have not been so applied, Borrower immediately shall repay the Loans (or reduce the Letter of Credit Usage by providing cash collateral for the Letter of Credit Usage in the manner set forth in Subsection 1.16) in an amount equal to such remaining Net Proceeds). All prepayments shall be accompanied by accrued interest on the amount prepaid and any applicable Breakage Fees and any other fees required pursuant to Subsection 1.4.
Repayments from Insurance Proceeds. The Borrower shall repay the Loans in an amount equal to all Net Proceeds (as hereinafter defined in this Subsection 4(A)) received by the Borrower, any of its Subsidiaries (as hereinafter defined in this Subsection 4(A)), New Ulm Telecom, Inc. (the “Parent Guarantor”) or any of the Parent Guarantor’s Subsidiaries (the Borrower, its Subsidiaries, the Parent Guarantor, and the Parent Guarantor’s Subsidiaries, collectively, the “Loan Parties” and each a “Loan Party”) that are insurance proceeds from any Asset Disposition (as hereinafter defined in this Subsection 4(A)) to the extent that such proceeds are not used to repair or Master Loan Agreement/Xxxxxxxxxx Acquisition Corp. MLA No. RX0584 replace the lost, damaged or destroyed asset or assets in the business of such Loan Party within 180 days of receipt by such Loan Party of such Net Proceeds. All such repayments shall be applied in accordance with Subsection 4(B) of this Agreement.
Repayments from Insurance Proceeds. Immediately upon their receipt, Borrower shall repay the Loans in an amount equal to all Net Proceeds received by Borrower or any of its Subsidiaries which are insurance proceeds from any Asset Disposition; provided, however, that Borrower shall not be required to apply an amount of such Net Proceeds to repay the Loans (and such Net Proceeds shall be released to Borrower or Subsidiary in such amount) equal to an amount up to One Hundred Thousand Dollars ($100,000) in any calendar year if the following requirements are satisfied: (i) such proceeds are pledged to Lender, (ii) no Event of Default has occurred and is continuing, and (iii) Borrower or such Subsidiary has taken steps in good faith and customary in its industry to replace the damaged Collateral and in any event such replacement or restoration has occurred within two hundred and seventy (270) days of receipt by Borrower or such Subsidiary of such proceeds. All such repayments (other than prepayments under Subsection 1.6(a) as contemplated in this Subsection) shall be applied in accordance with Subsection 1.6(f).
Repayments from Insurance Proceeds. Borrower shall repay the Loans in an amount equal to all Net Proceeds received by Borrower or any of its Restricted Subsidiaries which are insurance proceeds from any Asset Disposition to the extent that such proceeds are not reinvested in equipment or other assets that are used or useful in the business of Borrower or such Restricted Subsidiary, as applicable, within nine months of receipt by Borrower or such Restricted Subsidiary of such proceeds. All such repayments shall be applied in accordance with Subsection 1.8. Credit Agreement/US Unwired Inc.
