Asset Sales Proceeds definition
Examples of Asset Sales Proceeds in a sentence
If requested by the Required Lenders, the Borrower shall within three Business Days of such request make a mandatory prepayment of the Loans, in an amount equal to 100% of such Net Casualty Proceeds or Net Asset Sales Proceeds, as the case may be (or such lesser amount as the Required Lenders may specify on the date of such request), to be applied as set forth in Section 3.3.
All proceeds of activities permitted by this Section 5.2(b) will be deposited into the Asset Sales Proceeds Account and disbursed therefrom in accordance with Section 4.7 of the Disbursement Agreement, other than proceeds from the sale of Products or from Commodity Management Plan Arrangements, or otherwise from sales or other dispositions in the ordinary course of business, each of which shall be deposited into the Project Revenues Account.
If requested by the Lender, the Borrower shall within three Business Days of such request make a mandatory prepayment of the Loans, in an amount equal to 100% of such Net Casualty Proceeds or Net Asset Sales Proceeds, as the case may be (or such lesser amount as the Lender may specify on the date of such request), to be applied as set forth in Section 3.3.
Establishment of each of the Spectrum Cash Account, the Cash Reserve Account and the Asset Sales Proceeds Account at a financial institution reasonably satisfactory to Holders; delivery to the Collateral Agent of one or more Account Control Agreements covering each such account; and funding of the Cash Reserve Account in accordance with Section 5.25 hereof.
On the day of any Asset Sale by Company or its Subsidiaries in which the Asset Sales Proceeds thereof exceed $3,000,000, Company shall deliver to Administrative Agent a certificate of an Authorized Officer certifying as to the amount of gross proceeds thereof and costs and expenses payable thereof which were deducted in determining the Asset Sale Proceeds.
If Borrower elects to exercise the Asset Sales Proceeds Sharing mechanism, every $1.00 of net asset sale proceeds shall be distributed: a.
Upon receipt of such Net Asset Sales Proceeds, if applicable, and upon notice to Collateral Agent of such sale, the Lien hereof encumbering the Collateral subject to such Permitted Sale shall be released without any further action on the part of the Collateral Agent.
Seller shall set forth in such notice reasonable detail for the basis of Seller’s objection or objections and the adjustments to the amount of Closing Date Working Capital, Closing Date Store Cash, Closing Date Non-Cash Sales Settlement Amount and/or Closing Date Asset Sales Proceeds that Seller believes should be made.
Concurrently with any prepayment of the applicable Class of Loans pursuant to Section 2.14(a) through Section 2.14(e) and Section 2.14(g), Borrower shall deliver to Administrative Agent a certificate of an authorized officer of Borrower demonstrating the calculation of the amount of Net Asset Sales Proceeds, Net Insurance/Condemnation Proceeds, Excess Cash Flow, damages, refund, other payment and compensation or gross equity proceeds owing to the applicable Class of Lenders under, if any.
References to the "Collateral Account" in this Agreement and the other Credit Documents shall be deemed to include the Bechtel Letter of Credit Account and the Asset Sales Proceeds Account (unless the context requires otherwise).