Common use of Proceeds of Asset Dispositions Clause in Contracts

Proceeds of Asset Dispositions. Immediately upon receipt by ------------------------------ Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this subsection 2.4(B)(2)), Borrower --------------------- shall repay the Obligations in an amount equal to such proceeds.

Appears in 1 contract

Samples: Loan and Security Agreement (Tower Air Inc)

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Proceeds of Asset Dispositions. Immediately upon receipt by ------------------------------ Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this subsection 2.4(B)(2)), Borrower --------------------- shall repay prepay the Obligations in an amount equal to such proceeds.

Appears in 1 contract

Samples: Loan and Security Agreement (Sun Sportswear Inc)

Proceeds of Asset Dispositions. Immediately upon receipt by ------------------------------ Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this subsection 2.4(B)(2)), --------------------- Borrower --------------------- shall repay prepay the Obligations Revolving Loan in an amount equal to such proceeds.

Appears in 1 contract

Samples: Loan and Security Agreement (Right Start Inc /Ca)

Proceeds of Asset Dispositions. Immediately upon receipt by ------------------------------ Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this subsection ---------- 2.4(B)(2)), Borrower --------------------- shall repay prepay the Obligations in an amount equal to ---------- such proceeds.

Appears in 1 contract

Samples: Loan and Security Agreement (Tower Air Inc)

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Proceeds of Asset Dispositions. Immediately upon receipt by ------------------------------ Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this subsection 2.4(B)(2Section 2.4(b)(ii)), Borrower --------------------- shall repay prepay the Obligations in an amount equal to such proceeds.

Appears in 1 contract

Samples: Credit and Security Agreement (Tower Air Inc)

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