Disposition Prepayment Event definition

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

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Disposition Prepayment Event has the meaning specified in Section 2.5(b).

Disposition Prepayment Event means, with respect to any Disposition other than an Excluded Disposition, the failure of the Loan Parties to apply (or cause to be applied) the Net Cash Proceeds of such Disposition to Eligible Reinvestments during the Application Period for such Disposition; provided that no Disposition Prepayment Event shall be deemed to have occurred during any fiscal year until the aggregate Net Cash Proceeds with respect to all Dispositions consummated during such fiscal year exceeds $25 million.

Examples of Disposition Prepayment Event in a sentence

• Immediately upon the occurrence of an Involuntary Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Excess Proceeds (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(g) (such prepayment to be applied as set forth in clause (vi) 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).

• Promptly upon the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Term 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(e) (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(f) (such prepayment to be applied as set forth in clause (vi) below).

• Immediately upon the occurrence of an Involuntary Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Excess Proceeds not used to make Eligible Reinvestments (such prepayment to be applied as set forth in clause (v) below).

• Immediately upon the occurrence of any Asset Disposition Prepayment Event, Airgas shall prepay (or shall cause the applicable Canadian Borrower to 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 8.4(b)(v) (such prepayment to be applied as set forth in clause (iv) below).

• To the extent the amount of relevant Net Cash Proceeds to be applied pursuant to Section 2.05(b)(ii)(C) exceeds the amount necessary to repay all outstanding Revolving Loans, other Prepayable Indebtedness or the Tranche B Term Loan (if required) at the time of the relevant Disposition Prepayment Event, the Borrower may retain such excess amount without further obligation under this Section 2.05.

• 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).

• Without limiting the foregoing sentence, to the extent that any obligation to make a mandatory prepayment of the loans arises from an Asset Disposition Prepayment Event of the type described in clause (ii) of the definition thereof, the Revolving U.S. Committed Amount shall be permanently reduced in an amount equal to the U.S. Dollar Amount of such prepayment.

More Definitions of Disposition Prepayment Event

Disposition Prepayment Event means, with respect to (a) any Disposition other than an Excluded Disposition or a Disposition of Capital Stock of CyrusOne or CyrusOne LP, the failure of the Loan Parties to apply (or cause to be applied) the Net Cash Proceeds of such Disposition to Eligible Reinvestments during the Application Period, if any, for such Disposition and (b) a Disposition of Capital Stock of CyrusOne or CyrusOne LP, the date on which the Borrower or a Subsidiary receives the Net Cash Proceeds of such Disposition; provided that with respect to any Disposition (other than any Disposition of Capital Stock of CyrusOne or CyrusOne LP), no Disposition Prepayment Event shall be deemed to have occurred hereunder during any fiscal year until the aggregate Net Cash Proceeds received with respect to all such Dispositions (other than Excluded Dispositions) consummated during such fiscal year exceeds $25,000,000 in the aggregate, and then only to the extent of such excess.

Disposition Prepayment Event means any sale, transfer or other Disposition of any property or asset of the Borrower or any Restricted Subsidiary pursuant to Section 6.07(h) (or series of related Dispositions in respect thereof) resulting in Net Proceeds exceeding the greater of (x) $231,250,000 and (y) 25% of Consolidated Adjusted EBITDA for the Test Period most recently ended on or prior to the date of determination (measured as of the date such determination based upon the financial statements most recently delivered on or prior to such date pursuant to Section 5.01(a) or (b)) per transaction or series of related transactions; provided, that, for the avoidance of doubt, only Net Proceeds in excess of such amount shall be subject to the mandatory prepayment provisions set forth in Section 2.11(b)(ii).

Disposition Prepayment Event means, with respect to (a) any Disposition other than an Excluded Disposition or a Disposition of Capital Stock of CyrusOne or CyrusOne LP, the failure of the Loan Parties to apply (or cause to be applied) the Net Cash Proceeds of such Disposition to Eligible Reinvestments during the Application Period, if any, for such Disposition and (b) a Disposition of Capital Stock of CyrusOne or CyrusOne LP, the date on which the Borrower or a Subsidiary receives the Net Cash Proceeds of such Disposition; provided that (i) with respect to any Disposition of Capital Stock of CyrusOne or CyrusOne LP, no Disposition Prepayment Event shall be deemed to have occurred hereunder until the aggregate Net Cash Proceeds received with respect to all such Dispositions of such Capital Stock consummated after the Closing Date exceeds $25,000,000 in the aggregate, and then only to the extent of such excess, and (ii) with respect to any other Disposition, no Disposition Prepayment Event shall be deemed to have occurred hereunder during any fiscal year until the aggregate Net Cash Proceeds received with respect to all such Dispositions (other than Excluded Dispositions) consummated during such fiscal year exceeds $25,000,000 in the aggregate, and then only to the extent of such excess.

Disposition Prepayment Event means, with respect to any Disposition (other than an Excluded Disposition), the failure of the Loan Parties to apply (or cause to be applied) the Net Cash Proceeds of such Disposition to Eligible Reinvestments during the Application Period, if any, for such Disposition; provided that with respect to any Disposition, no Disposition Prepayment Event shall be deemed to have occurred hereunder during any fiscal year until the aggregate Net Cash Proceeds received with respect to all such Dispositions (other than Excluded Dispositions) consummated during such fiscal year exceeds $50,000,000 in the aggregate, and then only to the extent of such excess.

Disposition Prepayment Event means a Disposition that is not a Permitted Disposition.

Disposition Prepayment Event means the receipt by any Consolidated Party of proceeds from any Disposition other than an Excluded Disposition.