Sales of VGTs or Equipment Sample Clauses

Sales of VGTs or Equipment. Upon receipt of the proceeds of the sale or other disposition of any VGTs, Redemption Machines or other Equipment owned by Borrower after the date hereof, or if any such VGTs, Redemption Machines or Equipment are damaged, destroyed or taken by condemnation in whole or in part, the proceeds thereof shall be paid by Borrower to Administrative Agent as a mandatory prepayment of the Term Loan, such payment to be applied against the remaining installments of principal on a pro rata basis until repaid in full, and then against the Revolving Loans until repaid in full and finally against the other Obligations, in the order set forth in Section 15.2; provided, however, that the foregoing mandatory repayment obligation shall not apply: (i) in the event the proceeds of such sale or disposition are reinvested into Borrower’s business operations within 90 days after such sale or disposition in a manner reasonably satisfactory to Administrative Agent; or (ii) in connection with the sale or disposition of VGTs, Redemption Machines and other Equipment financed by third parties.
Sample 1
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Sales of VGTs or Equipment. Upon receipt of the proceeds of the sale or other disposition of any VGTs, Redemption Machines or other Equipment owned by Accel Inc. and/or any Loan Party after the date hereof, or if any such VGTs, Redemption Machines or Equipment are damaged, destroyed or taken by condemnation in whole or in part, the proceeds thereof shall be remitted to Borrower and paid by Borrower to Administrative Agent as a mandatory prepayment of the Term Loan, such payment to be applied against the remaining installments of principal on a pro rata basis until repaid in full, and then against the Revolving Loans until repaid in full and finally against the other Obligations, in the order set forth in Section 15.2; provided, however, that the foregoing mandatory repayment obligation shall not apply: (i) in the event the proceeds of such sale or disposition are reinvested into the business operations of Accel Inc. and/or the other Loan Parties within 90 days after such sale or disposition in a manner reasonably satisfactory to Administrative Agent; or (ii) in connection with the sale or disposition of VGTs, Redemption Machines and other Equipment financed by third parties.
Sample 1

Related to Sales of VGTs or Equipment

  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Customer List The Administrative Agent shall have received a true and complete customer list for the Borrower and its Subsidiaries, which list shall state the customer’s name, mailing address and phone number and shall be certified as true and correct by a Financial Officer.

  • Shipments All Products delivered pursuant to the terms of this Agreement shall be suitably packed for shipment in accordance with the Specifications and marked for shipment to Customer’s destination specified in the applicable purchase order. Shipments will be made EXW (Ex-Works, Incoterms 2000) Flextronics’s facility, at which time risk of loss and title will pass to Customer. All freight, insurance and other shipping expenses, as well as any special packing expenses not included in the original quotation for the Products, will be paid by Customer. In the event Customer designates a freight carrier to be utilized by Flextronics, Customer agrees to designate only freight carriers that are currently in compliance with all applicable laws relating to anti-terrorism security measures and to adhere to the C-TPAT (Customs-Trade Partnership Against Terrorism) security recommendations and guidelines as outlined by the United States Bureau of Customs and Border Protection and to prohibit the freight carriage to be sub-contracted to any carrier that is not in compliance with the C-TPAT guidelines.

  • Goods All now owned and hereafter acquired right, title and interest of Debtors in, to and in respect of goods, including, but not limited to:

  • Customer Lists We hereby agree that we shall not use any list of your customers which may be obtained in connection with this Agreement for the purpose of solicitation of any product or service without your express written consent. However, nothing in this paragraph or otherwise shall be deemed to prohibit or restrict us or our affiliates in any way from solicitations of any product or service directed at, without limitation, the general public, any segment thereof, or any specific individual, provided such solicitation is not based upon such list.

  • Accounts Receivable; Inventories The accounts and notes receivable which are reflected on the Final Closing Balance Sheet are good and collectible in the ordinary course of business at the aggregate recorded amounts thereof, less the amount of the allowance for doubtful accounts reflected thereon, and are not subject to offsets. The accounts and notes receivable of the Company which were thereafter added and which will be reflected on the Final Closing Balance Sheet are good and collectible in the ordinary course of business at the aggregate amounts recorded in its books of account, less the amount of the allowance for doubtful accounts reflected thereon (which allowance was established on a basis consistent with prior practice), and are not subject to offsets. The inventories reflected on the Audited and Unaudited Balance Sheets, and thereafter added, as reflected on the Closing Date Balance Sheet, consist of items of a quality and quantity usable or saleable within one year (except as set forth on Schedule 5.7) in the ordinary course of business, except for obsolete materials, slow-moving items, materials of below standard quality and not readily marketable items, all of which have been written down to net realizable value or adequately reserved against on the books and records of the Company. To the extent there is inventory not listed on Schedule 5.7 of a quality and quantity not usable or saleable in the ordinary course of business within one year, in lieu of a claim for indemnification, Buyer shall sell and the Selling Shareholders shall purchase such items of inventory at the value carried on the Final Closing Balance Sheet. All inventories not written off are stated at the lower of cost or market.

  • Shipment If any of the Major Components associated with any Unit is not Shipped on or before (with the prior approval of the Buyer) the Scheduled Major Component Shipment Date set forth in Attachment 1 for reasons attributable to the Seller and not excused elsewhere in this Contract, the Seller shall pay as liquidated damages, and not as a penalty, a sum calculated in accordance with the table below for each Unit for each day of delay after the Scheduled Major Component Shipment Date as set forth in Attachment 1 until actual Shipment of the last Major Component for such Unit: Days after Scheduled Major Component Shipment Date Liquidated Damages (per day or partial day) *** *** *** *** *** *** Such liquidated damages, if any, shall be computed based on the date of Shipment of the last Major Component for a given Unit and such computations shall disregard any part of or accessory to the Major Component which may be shipped separately and arrive later unless such part of or accessory to the Major Component is necessary for the installation of the Major Component.

  • WHEXXXX xs xxxx of a plan of reorganization, RESTART PARTNERS, L.P., a Delaware Limited Partnership ("Restart"), may acquire an ownership interest in Elsinore Corporation ("Elsinore") or the Four Queens, Inc. ("FQI");

  • Accounts Receivable; Inventory (a) For each Account with respect to which Advances are requested, on the date each Advance is requested and made, such Account shall be an Eligible Account.

  • Licensed Software Section 3.17(f).......................................27

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