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 to scheduled installments of the Term Loan B 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.
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 located in the United States shall be applied first, to the Swing Line Loans and, second, to U.S. Revolving Credit Advances; insurance or condemnation proceeds from casualties or losses to Equipment, Fixtures and Real Estate (other than Equipment, Fixtures and Real Estate owned by Schaublin or any of the French Operating Companies) shall be applied to scheduled installments of the Term Loan in inverse order of maturity. All insurance or condemnation proceeds of assets of the RBC Swiss Group Members shall, subject to Sections 1.3(b)(iii) and 5.4(c), be applied to the Schaublin Revolving Loan (which application shall respectively reduce each of the Schaublin Intercompany Loans). Neither the Revolving Loan Commitments 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 5.2 and the Mortgage(s), respectively, shall be applied to the Revolving Credit Advances. The Revolving Loan Commitment shall not be permanently reduced by the amount of any such prepayments unless an Event of Default has occurred and is continuing and the Requisite Lenders exercise their right to require such reduction in their sole discretion. 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 determined by Agent, subject to the approval of Requisite Lenders.
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. 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(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 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.
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 the Swing Line Loans and, second, to the Revolving Credit Advances (in each case, first to Index Rate Loans and then to LIBOR Loans). At the option of Agent, the Revolving Loan Commitment and/or the Swing Line Loan Commitment may be permanently reduced by the amount of any such prepayments. Notwithstanding anything to the contrary set forth in this Agreement, Borrower shall not be obligated to prepay any Loans with the proceeds of liability insurance applied by Borrower to settle third party claims against Borrower or any other Credit Party.
