Specified Asset Sale Proceeds means the Net Cash Proceeds of any Prepayment Asset Sale not required to be applied to prepay the Term Loans, which Net Cash Proceeds have not otherwise been reinvested in accordance with Section 2.05(b)(ii) or used to prepay any Other Pari Indebtedness.
Specified Asset Sale Proceeds means the aggregate amount of Net Proceeds of any Disposition or Casualty Event that are not required to be applied to prepay Term Loans pursuant to Section 2.05(b)(ii).
Specified Asset Sale Proceeds means the sum of the Net Proceeds received since the Effective Date by or on behalf of Bidco or any of the Restricted Subsidiaries in respect of any Prepayment Event described in clause (a) of the definition thereof that exceeds such amount required to be applied to prepay the Term Loans or be reinvested pursuant to Section 2.10(c).
Examples of Specified Asset Sale Proceeds in a sentence
For the avoidance of doubt, the Specified Asset Sale Proceeds shall be utilized in accordance with the Budget covenant set forth in Section 5.23 in all respects.
What’s more, intellectual vices also have great practical significance, with character vices like arrogance, closed-mindedness, negligence, and snobbery a real and familiar aspects of our daily lives.
If the Borrower or any Restricted Subsidiary completes an Asset Sale (other than up to an aggregate $10,000,000 from the Net Cash Proceeds from Permitted Asset Sales) (the “ Specified Asset Sale Proceeds ”)) or suffers a Casualty Event then the Borrower shall, no later than three (3) Business Days following the receipt of Net Cash Proceeds from such Asset Sale or Casualty Event, prepay the Loans in an amount equal to 100% of the Net Cash Proceeds received from such Asset Sale or Casualty Event.
More Definitions of Specified Asset Sale Proceeds
Specified Asset Sale Proceeds means the aggregate amount of net cash proceeds (determined in a manner consistent with the definition of “Net Cash Proceeds”) from Prepayment Asset Sales and Casualty Events that are not required to be applied to prepay Term Loans pursuant to Section 2.06(b) as a result of such proceeds not constituting Net Cash Proceeds as a result of the proviso to clause (a) of the definition thereof. “Specified Disposition” means any sale, transfer or other disposition, or series of related sales, transfers or other dispositions (other than (x) in the ordinary course of business or (y) among the Borrower and its Restricted Subsidiaries), that involves assets comprising all or substantially all of an operating unit of a business or common Equity Interests of any Person, in each case owned by any Restricted Company. “Specified Event of Default” means an Event of Default resulting from Section 8.01(a) and Section 8.01(f) (with respect to the Borrower). “Specified Financial Statements” means, the audited consolidated and combined balance sheets of the Target and its Subsidiaries as of December 31, 2017 and the related consolidated and combined statements of operations and comprehensive loss, members’ equity and cash flows for the year ended December 31, 2017. “Specified Representations” means the representations and warranties of the Loan Parties set forth in Sections 5.01(a) (solely as it relates to the Loan Parties), 5.01(b)(ii), 5.02(a) (in each case of the foregoing, as it relates to the entering into, guaranteeing under and performance of the applicable Loan Documents and the incurrence of the extensions of credit thereunder and the granting of Liens in the 64
Specified Asset Sale Proceeds shall have the meaning assigned to such term in Section 2.12(b).
Specified Asset Sale Proceeds means the Net Cash Proceeds of Asset Sales that are designated as “Specified Asset Sale Proceeds” by the Borrower in a notice to the Administrative Agent (which notice shall identify the Asset Sale to which such Net Cash Proceeds relate and the amount of the Net Cash Proceeds thereof that are to be so designated) prior to the last day of the Reinvestment Period applicable to the related Asset Sale, provided that the aggregate amount of Net Cash Proceeds designated as Specified Asset Sale Proceeds, when taken together with the aggregate principal amount of Incremental Term Loans made and Incremental Term Loan Commitments established (without duplication) pursuant to Section 2.19, shall not exceed $20,000,000, provided further, that in order to be designated as Specified Asset Sale Proceeds hereunder, such Net Cash Proceeds must be designated as “Specified Asset Sale Proceeds” under the Second Lien Credit Agreement.
Specified Asset Sale Proceeds means aggregate Net Proceeds from Asset Sales in the form of any Production Payments and Reserve Sales and Sale Leaseback Transactions.
Specified Asset Sale Proceeds means 50% of the Net Cash Proceeds (without regard to subclause (vi) of the definition thereof) of any Specified Asset Sale, provided that (i) no such Net Cash Proceeds shall be used for the payment of a dividend (as defined in Section 10.6) and shall otherwise be used in compliance with the Senior Unsecured Notes Indenture and any other applicable Permitted Other Indebtedness Documents as in effect on the date of any such Specified Asset Sale and (ii) the Consolidated Net Senior Secured Leverage Ratio as of the last day of the most recent Test Period for which Section 9.1 Financials have been delivered does not exceed 3.50:1.00.
Specified Asset Sale Proceeds means 50% of the Net Cash Proceeds (without regard to subclause (h) of the definition thereof) of any Specified Asset Sale, provided that (i) no such Net Cash Proceeds shall be used for the payment of a dividend and shall otherwise be used in compliance with the Senior Unsecured Notes Indenture, any Senior Secured Notes Indenture and any other applicable Permitted Other Indebtedness Documents as in effect on the date of any such Specified Asset Sale and (ii) the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio, calculated on a Pro Form Basis after giving effect to such Specified Asset Sale and the use of proceeds in connection therewith, as of the last day of the most recent Test Period for which Section 9.1 Financials have been delivered does not exceed 3.25:1.00.
Specified Asset Sale Proceeds means cash proceeds from one or more Dispositions in an amount not to exceed $50,000,000 in the aggregate since the Closing Date.