Property Reinvestment Application definition

Property Reinvestment Application means, with respect to any Transfer of property, the application of an amount equal to the Net Proceeds Amount with respect to such Transfer to the acquisition by the Company of operating assets of the Company to be used in the principal business of the Company.

Property Reinvestment Application means, with respect to any Transfer of property, the satisfaction of each of the following conditions:

Property Reinvestment Application means, with respect to any Asset Disposition, the application of all or any portion of the Net Proceeds Amount to the acquisition by any member of the Group of property or assets (including the capital stock of any entity) that replaces the property or assets that were subject to the Asset Disposition or in property or assets that will be used or useful in the business or operations of the Group.

Examples of Property Reinvestment Application in a sentence

• For the purpose of determining compliance with this Section 10.10, the Company shall have the right to designate the Asset Dispositions to which any Debt Prepayment Application or Property Reinvestment Application relates.

• If the Net Proceeds Amount for any Asset Sale is applied to a Debt Prepayment Application or a Property Reinvestment Application within 180 days after such Asset Sale, then such Asset Sale, only for the purpose of determining compliance with the preceding sentence as of any date, shall be deemed not to be an Asset Sale.

• If the Net Proceeds Amount for any Transfer is applied to a Debt Prepayment Application or a Property Reinvestment Application within 365 days of such Transfer, then such Transfer, only for the purpose of determining compliance with subsection (c) of this Section 10.7 as of any date, shall be deemed not to be an Asset Disposition.

• This Agreement is solely for the benefit of Seller and its successors and permitted assigns, with respect to the obligations of Buyer under this Agreement, and for the benefit of Buyer, and its respective successors and permitted assigns, with respect to the obligations of Seller, under this Agreement, and this Agreement shall not be deemed to confer upon or give to any other third party any remedy, claim, liability, reimbursement, cause of action or other right.

• Notwithstanding anything contained in the foregoing to the contrary, if the net proceeds for any Transfer is applied to a Property Reinvestment Application within 180 days after such Transfer, then such Transfer, only for the purpose of determining compliance with clause (c) of this paragraph 6B(4) as of any date, shall be deemed not to be an Asset Disposition.

More Definitions of Property Reinvestment Application

Property Reinvestment Application means, with respect to any Transfer of property, the application of an amount equal to the Net Proceeds Amount with respect to such Transfer to the acquisition by the Borrower or any Subsidiary of operating assets of the Borrower or any Subsidiary to be used in the principal business of such Person;

Property Reinvestment Application means the application of Net Asset Sale Proceeds or Net Insurance/Condemnation Proceeds, as the case may be, to the acquisition by Company or its Subsidiaries of tangible or intangible property or assets (other than property or assets that constitute current assets under GAAP, unless the acquisition thereof is incidental to the acquisition of a materially greater amount of non-current assets) that is to be used in the business of Company and its Subsidiaries.

Property Reinvestment Application means, with respect to any Transfer of property constituting an Asset Disposition, the application of an amount equal to the Net Proceeds Amount with respect to such Transfer to the acquisition by the Company or any of its Subsidiaries of operating assets for the Company or any Subsidiary to be used in the principal business of such Person (or of an entity owning operating assets, in which event the Property Reinvestment Application shall be limited to the Fair Market Value of such operating assets).

Property Reinvestment Application means, with respect to any Disposition of property, the application, within 365 days of such Disposition, of an amount equal to the Net Proceeds with respect to such Disposition to the acquisition by the Company or any Subsidiary of property of a similar nature (excluding, for the avoidance of doubt, cash and cash equivalents), and of at least equivalent fair market value to the property so Disposed of, to be used in the ordinary course of business of such Person.

Property Reinvestment Application means, with respect to any Transfer of assets constituting an Asset Sale, the application of all or any portion of the Net Proceeds Amount with respect to such Transfer to the acquisition by the Company or any of its Subsidiaries of assets to be used in the principal business of the Company or any of its Subsidiaries. For avoidance of doubt, to the extent consideration received by the Company or any of its Subsidiaries in an Asset Sale is not cash but constitutes assets to be used in the principal business of the Borrower or any of its Subsidiaries, the Net Proceeds Amount in respect of such consideration received shall be considered a Property Reinvestment Application.

Property Reinvestment Application means, with respect to any Transfer of assets constituting an Asset Sale, the application of all or any portion of the Net Proceeds Amount with respect to such Transfer to the acquisition by the Borrower or any of its Subsidiaries of assets to be used in the principal business of the Borrower or any of its Subsidiaries. For avoidance of doubt, to the extent consideration received by the Borrower or any of its Subsidiaries in an Asset Sale is not cash but constitutes assets to be used in the principal business of the Borrower or any of its Subsidiaries, the Net Proceeds Amount in respect of such consideration received shall be considered a Property Reinvestment Application.

Property Reinvestment Application means, with respect to any Transfer of property constituting an Asset Disposition, the application of an amount equal to the Net Proceeds Amount with respect to such Transfer to the acquisition by an Obligor or any of its Restricted Subsidiaries of operating assets for an Obligor or any Restricted Subsidiary to be used in the principal business of such Person.