Event Proceeds definition
Examples of Event Proceeds in a sentence
Subject to the provisions of Sections 5.3, 5.4, 8.6(b), 11.6(d) and 13.2, the General Partner shall cause the Partnership to distribute to the Partners as of the applicable Partnership Record Date, at such times as the General Partner shall determine, amounts of Available Operating Cash, Net Sales Proceeds and Net Capital Event Proceeds in the manner set forth in this Section 5.1.
Following completion of any such repair or restoration, any remaining Recovery Event Proceeds may be transferred to the Revenue Account in accordance with the terms of the Depositary Agreement.
The Facility Lessee shall cause all Revenues and Recovery Event Proceeds and all cash, cash equivalents, instruments, investments and other securities in its possession (excluding amounts received by the Facility Lessee as transfers from the Operating Account or the Distributions Account in accordance with this Agreement) to be delivered immediately to the Collateral Agent for deposit into the Accounts pursuant to Article III.
Amounts deposited into the Recovery Event Proceeds Account shall be credited to each subaccount thereof based upon each Owner Lessor's Percentage of such deposited amounts.
All such proceeds received by or on behalf of the Collateral Agent shall be deposited into the Recovery Event Proceeds Account.
If, notwithstanding the foregoing, the Facility Lessee shall receive any such proceeds, it shall immediately deliver such proceeds in the exact form received (duly endorsed, if appropriate, in a manner satisfactory to the Collateral Agent) to the Collateral Agent for deposit into the Recovery Event Proceeds Account.
An amendment or waiver to Clause 9.5 (Mandatory Prepayment from Capital Event Proceeds) or the definitions of "Capital Event Proceeds" or "Required Percentage" may be made by the Agent acting upon the instructions of the Steering Committee Group.
In addition, as of such date, to the extent there is then an Unfunded Participating Investment, Participant will be credited with a reduction of the Unfunded Participating Investment in an amount of the Funding Portion with respect to such Capital Event Proceeds.
If the Issuer or any Subsidiary receives less than $5 million of Title Event Proceeds in connection with a Title Event or has less than $5 million remaining after remedying a Title Event the Issuer will cause such amounts to be deposited into the Revenue Account.
Apply and pay over, and cause Holdings and the Subsidiary Guarantors (if any) to apply and pay over, all Revenues and any proceeds received in connection with any Recovery Event, Specified Asset Disposition, PPA Buyout or Asset Sale, to the Revenue Account and the Event Proceeds Account respectively, as set forth in the Depositary Agreement.