Available Asset Sale Proceeds definition

Available Asset Sale Proceeds means, with respect to any Asset Sale, the aggregate Asset Sale Proceeds from such Asset Sale that have not been applied in accordance with clauses (iii)(a) or (iii)(b) of Section 4.13(a), and which have not been the basis for an Excess Proceeds Offer in accordance with clause (iii)(c) of such Section 4.13(a).

Available Asset Sale Proceeds means, with respect to any Asset Sale, the aggregate Asset Sale Proceeds from such Asset Sale that have not been applied in accordance with clause (iii)(a) or (iii)(b), and that have not yet been the basis for an Excess Proceeds Offer in accordance with clause (iii)(c), of the first paragraph of Section 4.17.

Available Asset Sale Proceeds means, for any Asset Sales, the difference between (i) the cash proceeds generated in such Asset Sale and (ii) the outstanding principal amount (including any interest thereon) of the Senior Debt; provided, however, that in the event of any Asset Sale relating to Xxxxxxx Shale Properties the Available Asset Sale Proceeds shall be equal to the difference between (A) the cash proceeds generated in such Asset Sale and (B) $15,000,000.

Examples of Available Asset Sale Proceeds in a sentence

• If an Excess Proceeds Offer is not fully subscribed, the Company may retain the portion of the Available Asset Sale Proceeds not required to repurchase Notes.

• If an Excess Proceeds Offer is not fully subscribed, the Company may retain the portion of the Available Asset Sale Proceeds not required to repurchase Securities.

• To the extent that the aggregate purchase price of Securities tendered pursuant to any Excess Proceeds Offer is less than the pro rata portion of the Available Asset Sale Proceeds allocated to the Securities (such shortfall constituting a “Deficiency”), if the assets which were the subject of the Asset Sale do not constitute Collateral, the Company or any Restricted Subsidiary may use any Deficiency for general corporate purposes.

• If the aggregate principal amount of Notes tendered pursuant to such Excess Proceeds Offer is more than the amount of the Available Asset Sale Proceeds, the Notes tendered will be repurchased on a pro rata basis or by such other method as the Trustee shall deem fair and appropriate.

• Notwithstanding the foregoing, in no event shall the Company use Available Asset Sale Proceeds to purchase more than 25% of the original aggregate principal amount of the Securities on or prior to the Fifth Anniversary.

More Definitions of Available Asset Sale Proceeds

Available Asset Sale Proceeds means, (i) with respect to any Asset Sale of assets that do not constitute Collateral, the aggregate Asset Sale Proceeds from such Asset Sale that have not been applied in accordance with clauses (a) or (b), and which have not yet been the basis for an Excess Proceeds Offer in accordance with clause (c) of the second paragraph of Section 4.13 and, with respect to any Asset Sale of assets that do constitute Collateral, the aggregate Asset Sale Proceeds from such Asset Sale that have not been applied in accordance with clause (a), and which have not yet been the basis for an Excess Proceeds Offer in accordance with clause (b), of the third paragraph of Section 4.13.

Available Asset Sale Proceeds means, for any Asset Sales, the difference between (i) the cash proceeds generated in such Asset Sale and (ii) the outstanding principal amount (including any interest thereon) of the Senior Debt; provided, however, that in the event of any Asset Sale relating to Barnett Shale Properties the Available Asset Sale Proceeds shall be equal to the difference between (A) the cash proceeds generated in such Asset Sale and (B) $15,000,000.

Available Asset Sale Proceeds means, with respect to an Asset Sale, the aggregate Asset Sale Proceeds from such Asset Sale that have not yet been applied in accordance with clauses (iii)(a) or (iii)(b), and which have not yet been the basis for an Available Proceeds Offer in accordance with clause (iii)(c), of the first paragraph of Section 4.13.

Available Asset Sale Proceeds means, with respect to any Asset Sale, the aggregate Asset Sale Proceeds from such Asset Sale that have not been applied in accordance with clause (iii)(A) or (iii)(B) of Section 4.10(a), and that have not yet been the basis for an Excess Proceeds Offer in accordance with clause (iii)(C) of Section 4.10(a) hereof. "BANKRUPTCY LAW" means Title 11, U.S. Code, the Bankruptcy and Insolvency Act (Canada), the Companies' Creditors Arrangement Act (Canada) or any similar United States or Canadian federal, state or provincial law for the relief of debtors.

Available Asset Sale Proceeds means, with respect to any Asset Sale, the aggregate Asset Sale Proceeds from such Asset Sale that have not been applied in accordance with clause (3)(a) or (3)(b) of Section 4.13(a), and which have not yet been the basis for an Excess Proceeds Offer in accordance with Section 4.13(b) under this Indenture.

Available Asset Sale Proceeds means, as of any date of determination and with respect to each Asset Sale (excluding Asset Sales in the ordinary course of business) consummated by the Company or any of its Subsidiaries prior to such date, the aggregate Net Cash Proceeds received by the Company or any of its Subsidiaries in respect of such Asset Sale, to the extent that such Net Cash Proceeds (i) have not been, and are not required to be, applied to prepay principal of Letter of Credit Advances and New Notes and/or to be deposited to L/C Collateral Accounts in respect of Letter of Credit Facilities and (ii) have not previously been applied to any Capital Expenditure of the Company as permitted by Section (e)(ii) of the Negative Covenants set forth in Annex C.

Available Asset Sale Proceeds means all Net Cash Proceeds received from the sale or disposition (other than Permitted Asset Sales) by the Borrower or any of its Subsidiaries of any assets (including the Capital Stock of any Subsidiary) sold or disposed of at any time and not required, upon receipt thereof, to be used to prepay Advances under Section 2.5(c)(i).