Cash Proceeds Event definition

Cash Proceeds Event means (i) any incurrence or issuance of any indebtedness by the Company, including the issuance of debt securities and any securities convertible or exchangeable for capital stock or other equity interests of the Company, in any at-the-market offering or otherwise, (ii) any sale, capital lease, sale and leaseback, assignment, conveyance, transfer or other disposition of property or assets by the Company (including, in the case of capital stock or other equity interests, any issuance thereof, including the ATM Offering), or (iii) any settlement of or payment to the Company with respect to any litigation that is not encumbered or otherwise due to any Person other than the Holder, including pursuant to a required cash sweep arrangement. Notwithstanding the foregoing in (ii)-(iii), a Cash Proceeds Event will not include any proceeds, payments, or receivables of any nature due to any Person other than the Holder pursuant to contractual arrangements existing as of the Issuance Date.

Cash Proceeds Event means any divestiture, financing, recapitalization, sale of securities of the Company or other transaction not in the ordinary course of business that results in cash proceeds to the Company. Notwithstanding for foregoing, any financing or other transaction pursuant to which Haig S. Bagerdjian acts in the capacity as a principal or a guarantor of all or any portion of the cash proceeds to the Company, shall be expressly excluded from the definition of a Cash Proceeds Event.

Cash Proceeds Event shall have the meaning set forth in the Note.

Examples of Cash Proceeds Event in a sentence

• Issuance of Note and Settlement of Amounts Owed (Unaudited) In April 2014, the Company agreed to issue to our law firm a non-interest bearing convertible note in the aggregate principal amount of $875,000 (the “Note”) as payment in full for the amounts owed to them at that time, contingent on the Company successfully concluding a Cash Proceeds Event, including the $467,200 note that was issued on July 1, 2012.

• Gross ProfitIn $’ million6M 20166M 2015Civil Engineering3.03.0Property Development Gross profit decreased by $25.0 million ( 89%) to $3.0 million for the current financial period as there is no contribution from Property Development and negligible contribution from the rental from investment properties.

• This Special Deemed Capital Account (i) shall be separate and distinct from and shall not be considered part of the Capital Account of Telco; and (ii) shall not be increased or decreased and shall not be payable to Telco except in connection with an Excess Cash Proceeds Event and except in the manner set forth in Subsections B and C of this Section 3.5.

• All Excess Cash Proceeds arising out of an Excess Cash Proceeds Event, which does not cause or is not in connection with the dissolution, or termination of the Partnership, shall be distributed to the Partners within ninety (90) days after the receipt thereof.

• The Company shall provide prompt (and in any event, within five (5) Business Days) written notice to Holder of the occurrence of any Cash Proceeds Event, which notice shall specify whether any proceeds from such Cash Proceeds Event are due to any Person other than the Holder pursuant to contractual arrangements existing as of the Issuance Date, reasonably identifying such Person and contractual arrangement.

• In the event of a Cash Proceeds Event (other than a financing from Haig Bagerdjian) in which the Holder does not receive at least 20% of the proceeds as a prepayment of this Note due to a good faith determination by Company that its financial condition does not enable it to make such payment to Holder, the cash portion from the Contingent Assets payable to Holder in each case shall increase to 50%.

• The next Excess Cash Proceeds Event occurs on January 1, 1997 when the Partnership refinances the Premises for $25,000,000 and when the fair market value thereof is $33,000,000.