Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in connection with an Event of Loss in accordance with Sections 1.3(b)(iii) and 5.4(c) and the Mortgage(s), respectively, shall be applied as follows: insurance proceeds from casualties or losses to cash or Inventory shall be applied first, to the Swing Line Loans and, second, to the Revolving Credit Advances; insurance or condemnation proceeds from casualties or losses to Equipment, Fixtures and Real Estate shall be applied to scheduled installments of the Term Loan in inverse order of maturity. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments. If the precise amount of insurance or condemnation proceeds allocable to Inventory as compared to Equipment, Fixtures and Real Estate are not otherwise determined, the allocation and application of those proceeds shall be jointly determined by Agent and Borrower.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) and insurance or condemnation proceeds from casualties or losses to Equipment, Fixtures and Real Estate, respectively, shall be applied as follows: insurance proceeds from casualties or losses shall be applied first, to the Swing Line Loans and, second, to the Revolving Credit Advances of the Borrower group (either US Borrowers or Canadian Borrowers) encompassing the Borrower that incurred such casualties or losses. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments. If insurance or condemnation proceeds received by a particular Borrower exceed the outstanding principal balances of the Loans to that Borrower group (either US Borrowers or Canadian Borrowers) encompassing the relevant Borrower, those proceeds shall be applied by Agent, (i) in respect of proceeds received by a US Borrower, first to US Obligations, and second to Canadian Obligations; and (ii) in respect of proceeds received by a Canadian Borrower, solely to Canadian Obligations.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c), shall be applied as follows: insurance proceeds from casualties or losses to cash or Inventory shall be applied first, to the Swing Line Loans and second, to the Revolving Credit Advances and insurance or condemnation proceeds from casualties or losses to Equipment, Fixtures and Real Estate shall be applied as set forth in Section 1.3(c). Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c), shall be applied as follows: insurance proceeds from casualties or losses to Lender Priority Collateral shall be applied first, to the Swing Line Loans and, second, to the Revolving Credit Advances; insurance or condemnation proceeds from casualties or losses to Noteholder Priority Collateral shall be applied in accordance with the terms of the Intercreditor Agreement. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments; provided, however, that, if any event occurs that would result in a prepayment from insurance or condemnation proceeds and such event would constitute an “Asset Sale” (as defined in the Senior Secured Notes Indenture), then the Revolving Loan Commitment shall be permanently reduced by the amount of any such prepayment to the extent that the assets giving rise to the insurance or condemnation proceeds constitute Lender Priority Collateral. If the precise amount of insurance or condemnation proceeds allocable to Lender Priority Collateral as compared to Noteholder Priority Collateral are not otherwise determined, the allocation and application of those proceeds shall be in accordance with the terms of the Intercreditor Agreement.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. (i) To the extent not required to be used to prepay First Lien Indebtedness and permitted by the terms of the Intercreditor Agreement, prepayments from insurance or condemnation proceeds (other than to the extent related to the Montvale Property) in accordance with Section 5.4(c) and the Mortgage(s) (other than the Mortgage of the Montvale Property), respectively, shall be applied to scheduled installments of the Term Loan B in inverse order of maturity.
(ii) Subject to the Montvale Property Mortgage, prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) related to the Montvale Property and the Mortgage of the Montvale Property, respectively, shall be applied to scheduled installments of the Term Loan B in inverse order of maturity.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) shall be applied first, to the Swing Line Loans and, second, to the Revolving Credit Advances. Neither the Revolving Loan Commitment nor the Swing Line Loan Commitment shall be permanently reduced by the amount of any such prepayments.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds shall be applied to scheduled installments of the Term Loan in inverse order of maturity until such Term Loan shall have been repaid in full and, thereafter, to such of the other Obligations as Lender may elect. If the precise amount of insurance or condemnation proceeds allocable to Inventory, if any, as compared to Equipment, Fixtures and Real Estate are not otherwise determined, the allocation and application of those proceeds shall be determined by Lender in its sole discretion.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(c) and the Mortgage(s), respectively, shall be applied as follows: first, to Fees and reimbursable expenses of Agent then due and payable pursuant to any of the Loan Documents; second, to interest then due and payable on the First Term Loan; third, to interest then due and payable on the Second Term Loan; fourth, to interest then due and payable on the Third Term Loan; fifth, to prepay the scheduled principal installments of the Term Loans in inverse order of maturity (provided that principal installments of the Term Loans with the same maturity dates shall be applied in the following order: First Term Loan, Second Term Loan and then Third Term Loan), until all Term Loans shall have been prepaid in full; sixth, to interest then due and payable on the Letter of Credit Obligations; and seventh, to any Letter of Credit Obligations, to provide cash collateral therefor in the manner set forth in Annex B, until all such Letter of Credit Obligations have been fully cash collateralized in the manner set forth in Annex B.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(d), shall, unless such prepayment is waived in writing by the Requisite Lenders, be applied as follows: insurance proceeds from casualties or losses to cash or Inventory shall be applied first, to the Swing Line Loans and second, to the Revolving Credit Advances. The Revolving Loan Commitment shall be permanently reduced by the amount of any such prepayments to the extent, when added to the amount of prepayments made in accordance with Sections 1.3(b)(ii) or (b)(iii), in excess of $5,000,000 in the aggregate.
Application of Prepayments from Insurance Proceeds and Condemnation Proceeds. Prepayments from insurance or condemnation proceeds in accordance with Section 5.4(d), shall, unless such prepayment is waived in writing by the Lenders, be applied as follows: insurance proceeds from casualties or losses to cash or Inventory shall first be applied as set forth in Section 1.3(d) of the First Lien Credit Agreement. If any such prepayments are not so applied to the First Lien Credit Facility and, in any event, after the Discharge of First Lien Obligations (as defined in the Intercreditor Agreement), such prepayments shall be applied to prepay the Term Loan.
