Asset Dispositions; Events of Loss. If a Credit Party or any Subsidiary of a Credit Party shall at any time or from time to time:
Asset Dispositions; Events of Loss. Subject to the terms of the Intercreditor Agreement, if a Credit Party or any Subsidiary of a Credit Party shall at any time or from time to time:
Asset Dispositions; Events of Loss. If the Company or any Subsidiary shall at any time or from time to time make or agree to make a Disposition or shall suffer an Event of Loss resulting in aggregate Net Proceeds in excess of $500,000 in any fiscal year of the Company, then (i) the Company shall promptly notify the Agent of such proposed Disposition or Event of Loss (including the amount of the estimated Net Proceeds to be received by the Company or such Subsidiary in respect thereof) and (ii) promptly upon, and in no event later than five days after, receipt by the Company or the Subsidiary of the Net Proceeds of such Disposition or Event of Loss, the Company shall prepay the Term Loans in accordance with Subsection 2.07(c) in an aggregate amount equal to 100% of the amount of such Net Proceeds in the case of a 39 48 Disposition and in an aggregate amount equal to 100% of such Net Proceeds in the case of an Event of Loss; provided in the case of each Disposition and Event of Loss, if the Company states in its notice of such event that the Company or the applicable Subsidiary intends to reinvest, within 90 days of the applicable Disposition or receipt of Net Proceeds from an Event of Loss, the Net Proceeds thereof in assets similar to the assets which were subject to such Disposition or Event of Loss, then the Company shall not be required to make a mandatory prepayment under this subsection 2.07(a) in respect of such Net Proceeds to the extent such Net Proceeds are actually reinvested in such similar assets within a 180-day period; provided, that as a result of giving effect to such reinvestment no Default or Event of Default then exists or would occur as a result of such reinvestment. Promptly after the end of such 180-day period, the Company will notify the Agent whether it has reinvested such Net Proceeds in such similar assets, and to the extent such Net Proceeds have not been so reinvested, the Company will promptly prepay the Term Loans in the amount of such Net Proceeds not so reinvested.
Asset Dispositions; Events of Loss. If a Loan Party shall at any time or from time to time make or agree to make a Disposition other than a Permitted Disposition, or suffer an Event of Loss: then (A) the Borrower shall promptly notify the Noteholder Representative of such proposed Disposition or Event of Loss (including the amount of the estimated Net Proceeds to be received by a Loan Party) and (B) promptly upon receipt by a Loan Party of the Net Proceeds of such Disposition or Event of Loss, the Borrower shall deliver, or cause to be delivered, such excess Net Proceeds to the Noteholder Representative for distribution to the Purchasers and AP Noteholders as a prepayment of the Loans and AP Notes, which prepayment shall be applied in accordance with Section 2.6(d). (c)
Asset Dispositions; Events of Loss. Subject to the Intercreditor Agreement and Section 2.5(g)(ii) and (iii) if a Loan Party or any Subsidiary of a Loan Party shall at any time or from time to time:
Asset Dispositions; Events of Loss. Subject to the terms of the ABL Intercreditor Agreement with respect to Dispositions and Events of Loss in respect of ABL Priority Collateral, if a Credit Party or any Restricted Subsidiary shall at any time or from time to time:
Asset Dispositions; Events of Loss. If the Parent Borrower or any Restricted Subsidiary shall at any time or from time to time: (i) make a Disposition (other than Dispositions expressly permitted under subsections 5.2(a), 5.2(c), 5.2(d), 5.2(e), 5.2(f), 5.2(g), 5.2(i), 5.2(j), 5.2(k), 5.2(l), 5.2(m), 5.2(o), 5.2(p), 5.2(r), 5.2(s), 5.2(t) or 5.2(u)) outside of the Ordinary Course of Business; or (ii) suffer an Event of Loss; and (x) the aggregate amount of the Net Cash Proceeds received by the Parent Borrower and its Restricted Subsidiaries in connection with such Disposition or Event of Loss exceeds the greater of (i) $40,000,000 and (ii) 10.0% of Consolidated EBITDA or (y) the aggregate amount of the Net Cash Proceeds received by the Parent Borrower and its Restricted Subsidiaries in connection with such Disposition or Event of Loss and all other such Dispositions and Events of Loss occurring during any single Fiscal Year exceeds the greater of (i) $60,000,000 and (ii) 15.0% of Consolidated EBITDA for all such Dispositions and Events of Loss occurring during such Fiscal Year, then (A) the Parent Borrower shall notify the Agent within five (5) Business Days after receipt of Net Cash Proceeds from such Disposition or Event of Loss (including the amount of the Net Cash Proceeds received by the Parent Borrower and/or such Restricted Subsidiary in respect thereof) and (B) within ten (10) Business Days after receipt by the Parent Borrower and/or such Restricted Subsidiary of the Net Cash Proceeds of such Disposition or Event of Loss, the Parent Borrower shall prepay, in accordance with subsection 1.8(i), a principal amount of Term Loans in an amount equal to 100% (provided that such percentage shall be reduced to (A) 50% if the Senior Secured Leverage Ratio as of the last day of the applicable Test Period (recalculated to give pro forma effect to any voluntary prepayments or assignments made after the end of applicable Test Period and prior to the time the applicable prepayment is due) is less than or equal to 3.40 to 1.00 but greater than 2.90 to 1.00, respectively and (B) 0% if the Senior Secured Leverage Ratio as of the last day of the applicable Test Period (re-calculated to give pro forma effect to any voluntary prepayments or assignments made after the end of applicable Test Period and prior to the time the applicable prepayment is due) is less than or equal to 2.90 to 1.00) of (1) in the case of any prepayment required pursuant to clause (x) above, such excess amount of Net Cash Proceeds ...
Asset Dispositions; Events of Loss. Following the occurrence of a Trigger Event and until such Trigger Event is no longer relevant, if a Credit Party or any Subsidiary of a Credit Party shall at any time or from time to time:
Asset Dispositions; Events of Loss. If the Borrower or any of its Subsidiaries shall at any time or from time to time make or agree to make an Asset Disposition constituting less than a Substantial Portion or shall suffer an Event of Loss constituting less than or greater than a Substantial Portion, then (i) the Borrower shall promptly notify the Administrative Agent of such proposed Asset Disposition or Event of Loss (including the amount of the estimated Net Proceeds to be received by the Borrower in respect thereof) and (ii) promptly upon receipt by the Borrower or its Subsidiary of the Net Proceeds of such Asset Disposition or on account of such Event of Loss (and in any event not later than the third Business Day following such receipt), the Borrower shall prepay Loans in accordance with subsection 2.7(c) hereof in each case in an aggregate amount equal to the amount of such Net Proceeds; PROVIDED, HOWEVER, that the Borrower shall not be required to prepay Loans upon receipt of such Net Proceeds of any Asset Disposition or Event of Loss constituting less than a Substantial Portion to the extent that such Net Proceeds are reinvested by the Borrower in substantially similar assets within 180 days from the receipt thereof.
Asset Dispositions; Events of Loss. If the aggregate amount of the Net Proceeds received by a Credit Party in connection with a Disposition or an Event of Loss and all other Dispositions and Events of Loss occurring during any Fiscal Year exceeds $500,000, then (i) Borrower Representative shall promptly notify Agent of such proposed Disposition or Event of Loss (including the amount of the estimated Net Proceeds in respect thereof) and (ii) subject to the Intercreditor Agreement, promptly upon receipt by a Credit Party of the Net Proceeds of such Disposition or Event of Loss, Borrowers shall deliver or cause to be delivered to Agent for distribution to Lenders as a prepayment of the Obligations, an amount equal to the lesser of (A) such Net Proceeds or (B) the outstanding Obligations. If no Default or Event of Default has occurred and is continuing, such prepayment shall not be required to the extent a Credit Party reinvests the Net Proceeds of such Disposition or Event of Loss in productive assets (other than Inventory) of a kind then used or usable in the business of a Borrower, within 180 days after the date of such Disposition or Event of Loss; provided, that Borrower Representative notifies Agent of such Credit Party’s intent to reinvest, the proposed date of such reinvestment at the time such proceeds are received and the date reinvestment occurs. Pending such reinvestment, subject to the Intercreditor Agreement, an amount equal to the lesser of (A) such Net Proceeds or (B) the outstanding Obligations, shall be delivered to Agent, for distribution to the Lenders. Notwithstanding the foregoing, amounts otherwise payable pursuant to this Section 1.08(a) on account of Revolving Loan Priority Collateral (as defined in the Intercreditor Agreement), if any, shall not be payable hereunder to the extent that they are paid to the ABL Lenders pursuant to the ABL Credit Agreement.
