Asset Disposition Prepayment Event definition

Asset Disposition Prepayment Event means, with respect to any Asset Disposition other than an Excluded Asset Disposition, the failure of the Borrower to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to the purchase, acquisition or construction of Eligible Assets during the Application Period for such Asset Disposition.

Asset Disposition Prepayment Event means, with respect to any Asset Disposition other than an Excluded Asset Disposition, the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition.

Asset Disposition Prepayment Event is defined in Section 8.8(a).

Examples of Asset Disposition Prepayment Event in a sentence

• Immediately upon the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Asset Disposition not applied (or caused to be applied) by the Credit Parties during the related Application Period to make Eligible Reinvestments as contemplated by the terms of Section 8.5(g) (such prepayment to be applied as set forth in clause (vi) below).

• Immediately upon the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Asset Disposition not applied (or caused to be applied) by the Credit Parties during the related Application Period to make Eligible Reinvestments as contemplated by the terms of Section 8.5(f) (such prepayment to be applied as set forth in clause (v) below).

• Promptly following the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Asset Disposition not applied (or caused to be applied) by the Credit Parties during the related Application Period to make Eligible Reinvestments as contemplated by the terms of Section 8.5(f) (such prepayment to be applied as set forth in clause (vii) below).

• Promptly upon the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Asset Disposition not applied (or caused to be applied) by the Credit Parties during the related Application Period to make Eligible Reinvestments as contemplated by the terms of Section 8.5(g) (such prepayment to be applied as set forth in clause (v) below).

• Immediately upon the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Asset Disposition not applied (or caused to be applied) by the Credit Parties during the related Application Period to make Eligible Reinvestments as contemplated by the terms of Section 8.5(g) (such prepayment to be applied as set forth in clause (iii) below).

More Definitions of Asset Disposition Prepayment Event

Asset Disposition Prepayment Event means, (i) with respect to any Asset Disposition other than an Excluded Asset Disposition or an Acquired Non-Core Asset Disposition, the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition and (ii) the occurrence of an Acquired Non-Core Asset Disposition.

Asset Disposition Prepayment Event means, without duplication, (i) with respect to any Asset Disposition (other than an Excluded Asset Disposition) occurring on any date, if any, on which the Applicable Percentage is based on "Pricing Level IV" or "Pricing Level V", the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition and (ii) as long as the U.S. Term Loan is outstanding, the date five (5) Business Days prior to the date on which a failure of the Credit Parties to have applied the Net Cash Proceeds from any "Asset Sale" (or any comparable term) under, and as defined in, any Junior Financing Documentation in such a manner as to not create an obligation of Airgas to offer to purchase any Subordinated Debt with any such Net Cash Proceeds.

Asset Disposition Prepayment Event set forth in Section 1.1 of the Existing Credit Agreement is hereby amended in its entirety to read as follows:

Asset Disposition Prepayment Event means, with respect to any Asset Disposition other than an Excluded Asset Disposition (i) the date thirty (30) Business Days following a Non-Excluded Asset Disposition and (ii) the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition (other than a Non-Excluded Asset Disposition)to Eligible Reinvestments during the Application Period for such Asset Disposition.

Asset Disposition Prepayment Event means, with respect to any Asset Disposition, the failure of the Borrower to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition to the extent such Net Cash Proceeds exceed $5,000,000.

Asset Disposition Prepayment Event means, without duplication, (i) with respect to any Asset Disposition (other than an Excluded Asset Disposition) occurring on any date, if any, on which the Applicable Percentage is based on "Pricing Level V" or "Pricing Level VI", the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition and (ii) the date five (5) Business Days prior to the date on which a failure of the Credit Parties to have applied the Net Cash Proceeds from any "Asset Sale" (or any comparable term) under, and as defined in, any Junior Financing Documentation in a such a manner as to not create an obligation of Airgas to offer to purchase any Subordinated Debt with any such Net Cash Proceeds.

Asset Disposition Prepayment Event means (a) except as provided in clause (b) below, with respect to any Voluntary Disposition (other than an Excluded Disposition), any Involuntary Disposition or any JOA Asset Disposition, the failure of the Borrower and its Restricted Subsidiaries to apply (or cause to be applied) the Net Cash Proceeds of such Voluntary Disposition, Involuntary Disposition or JOA Asset Disposition to Eligible Reinvestments during the period of 360 days (or such earlier date as provided for reinvestment of the proceeds thereof under the documents evidencing or governing any Subordinated Debt) following receipt of such Net Cash Proceeds by the Borrower or any Restricted Subsidiary and (b) the payment of the purchase price following the exercise of a Permitted Option in respect of interests in the Salt Lake Printer Entity or the K-T Printer Assets if, at the time of such payment, either (1) an Event of Default exists immediately before or after giving effect to such transaction, or (2) after giving effect to such transaction on a Pro Forma Basis as of the most recent fiscal quarter end with respect to which the Administrative Agent has received the Required Financial Information, the Borrower would not be in compliance with Section 8.19 (as evidenced by a Pro Forma Compliance Certificate delivered to the Administrative Agent by a Responsible Officer of the Borrower at such time).