Application of Net Cash Proceeds. Any Net Cash Proceeds received by Borrower or any other Credit Party or the Administrative Agent under any Loan Document (except as otherwise expressly provided herein or therein) shall be applied pursuant to Section 1.3; provided, however, that, in the event Borrower has elected to deposit such Net Cash Proceeds in the Cash Collateral Account in accordance with Section 1.2(b)(ii):
Application of Net Cash Proceeds. All Net Cash Proceeds received by the Company or any Subsidiary from any Asset Sale or issuance of Debt or equity securities shall be applied in the following order:
Application of Net Cash Proceeds. Any Net -------------------------------- Cash Proceeds so delivered under this subsection 5.4(b)(i) to the Agent shall be applied as follows: (1) first, to the installments of the Term Loans in inverse ----- order of maturity thereof until the Term Loans have been paid in full; (2) second, to the Swingline Loans until ------ paid in full; (3) third, to the Revolving Loans until ----- paid in full, (4) fourth, to unpaid accrued interest on ------ the Primary Obligations; (5) fifth, to any due and ----- unpaid Primary Obligation; and (6) sixth, as collateral ----- (and held by the Agent as such) in an interest bearing account over which the Agent shall have the sole right of withdrawal) for the Obligations. The amount of such proceeds so held as collateral shall (x) not exceed an amount equal to One Hundred Five percent (105%) of the sum of the maximum anticipated amount of such Contingent Primary Obligations plus the maximum anticipated amount of all Secondary Obligations and (y) shall be applied to the Obligations as proceeds of Collateral as set forth in subsection 5.6(b). No holder of any Secondary Obligation shall have any right to such collateral until (x) all Primary Obligations are paid in full and (y) all Contingent Primary Obligations are terminated, cash secured by an amount not to exceed One Hundred Five Percent (105%) of the amount thereof or otherwise satisfied. If no Event of Default exists and any proceeds remain after the applications described above, the remaining amount of such proceeds shall be delivered to the Borrower.
Application of Net Cash Proceeds. (A) If the Borrower, or any of its Subsidiaries, shall receive any Net Cash Proceeds resulting from any sale or other disposition by the Borrower or any Subsidiary of any assets (except as permitted by Sections 7.7 (a) - (d)), then the amount equal to 75% of the Net Cash Proceeds of such sale; or
Application of Net Cash Proceeds. The Lender and the Collateral Agent hereby agree that all Net Cash Proceeds from any Asset Sale relating to any (i) Lender First Priority Collateral, in an amount equal to the greater of (A) such Net Cash Proceeds and (B) the Net Book Value of such Lender First Priority Collateral, shall be applied to the Loan Agreement Secured Obligations, (ii) Collateral Agent First Priority Collateral shall be applied to consummation of any Net Proceeds Offer as required under Section 4.10 of the Indenture and (iii) Pari Passu Collateral shall be applied in the order specified in Section 4.02(f) (provided that clause "third" thereof shall only be applicable to the Indenture Secured Obligations to the extent required to be applied to consummation of any Net Proceeds Offer as required under Section 4.10 of the Indenture).
Application of Net Cash Proceeds. Any Net Cash Proceeds received by Borrower or any other Credit Party or Collateral Agent under any Loan Document (except as otherwise expressly provided herein or therein) shall be applied as follows: FIRST, to Fees and reimbursable expenses of Agents then due and payable pursuant to any of the Loan Documents; SECOND, to Fees and reimbursable expenses of Lenders then due and payable pursuant to any of the Loan Documents; THIRD, to interest then due and payable on the Term Loan; FOURTH, to prepay the remaining scheduled principal installments of the Term Loan on a PRO RATA basis, until the Term Loan shall have been paid in full; FIFTH, to all other Obligations then due and payable to the Term Lenders; SIXTH, to interest then due and payable on the Swing Line Loan; SEVENTH, to the principal balance of the Swing Line Loan until the same has been repaid in full; EIGHTH, to interest then due and payable on the Revolving Credit Advances; NINTH, to the outstanding principal balance of Revolving Credit Advances until the same has been paid in full; TENTH, to provide cash collateral for any Letter of Credit Obligations until all such Letter of Credit Obligations have been fully cash collateralized in the manner set forth in ANNEX B; and ELEVENTH, to all other Obligations then due and payable to the Revolving Lenders; PROVIDED, that, in the event Borrower elected to deposit such Net Cash Proceeds in the Term Loan Cash Collateral Account in accordance with SECTION 1.3(B)(III):
Application of Net Cash Proceeds. In the event the Property is sold to an AVS Party, whether pursuant to Section 4(a), Section 4(c) or otherwise, Agent shall be entitled to receive (and retain for the benefit of itself and the Pre-Petition Lenders) all of the Net Cash Proceeds from such sale.
Application of Net Cash Proceeds. Each prepayment of the Term B Loan pursuant to the foregoing provisions of this Section 2.05(b) shall be applied to the principal repayment installments thereof in inverse order of maturity, and each prepayment shall be paid to the Lenders in accordance with their respective Term B Loan Percentage.
Application of Net Cash Proceeds. Concurrently with the receipt of Net Cash Proceeds from the Disposition by the Borrower or any of its Subsidiaries pursuant to Section 7.05(g), the Borrower shall prepay the Loans in an aggregate principal amount equal to 100% of such Net Cash Proceeds to the extent that such amount exceeds $15,000,000 in the aggregate for all Dispositions that have occurred during any Fiscal Year. Each such mandatory prepayment shall be made and applied as provided in Section 2.06(e). CREDIT AGREEMENT (CONFIRMED THROUGH TENTH AMENDMENT) – PAGE 48
Application of Net Cash Proceeds. (a) Immediately upon receipt by Borrower or any Subsidiary of any Net Cash Proceeds from any Asset Sale, excluding, however, (i) any Asset Sale permitted pursuant to the provisions of Section 9.5(a), (b), (c), (e), (f), (i) or (j) and (ii) the Net Cash Proceeds of a Proceeds Sharing Event, the Borrowers shall deposit with Agent such Net Cash Proceeds, to be held in a cash collateral account for the benefit of the Banks as collateral security for the Indebtedness, in an amount equal to one hundred percent (100%) of such Net Cash Proceeds; provided, however, that in the case of any Asset Sale permitted under Section 9.5(g), Borrowers may use all or any portion of the Net Cash Proceeds of such asset sale to purchase replacement assets used or to be used by the Borrowers or such subsidiary, as the case may be, in its business as permitted under Section 8.4(a) so long as (x) no Default or Event of Default has occurred and is continuing as of the date of sale or purchase, (y) each such purchase is made (or contract to make such purchases has been entered into) within 365 days following the date of such Asset Sale and (iii) the Borrowers deliver to the Agent, concurrently with or prior to the date of such Asset Sale, a certificate of an authorized officer of the Borrower stating that such Net Cash Proceeds will be so used. Notwithstanding the foregoing, to the extent that Net Cash Proceeds from any Asset Sale are derived from the sale of Inventory or Accounts, such Net Cash Proceeds, shall be applied as a prepayment of the outstanding Revolving Credit Advances, if any. Borrowers hereby grant Agent, for the benefit of the Banks, a security interest in the cash collateral account for the benefit of the Banks. The funds in the cash collateral account shall be distributed and applied as set forth in the Intercreditor Agreement.
