Asset Sale Sub-Account Sample Clauses

Asset Sale Sub-Account. Trustee shall withdraw amounts from the Asset Sale Sub-Account, subject and pursuant to the provisions of Sections 4.10 and 4.21 of the Indenture, (i) with respect to Net Proceeds and solely to the extent of such Net Proceeds, to (A) acquire Substitute Assets and/or (B) purchase notes pursuant to an Asset Sale Offer and (ii) with respect to Event of Loss Proceeds and solely to the extent of such Event of Loss Proceeds, to (A) restore or repair Properties or acquire Substitute Assets and/or (B) purchase notes pursuant to an Event of Loss Offer; provided that, in either event, to the extent there are Excess Proceeds or Event of Loss Excess Proceeds upon the completion of the Asset Sale Offer or Event of Loss Offer, as applicable, such Excess Proceeds and Event of Loss Excess Proceeds will be deposited in the Lock Box Account.
AutoNDA by SimpleDocs

Related to Asset Sale Sub-Account

Time is Money Join Law Insider Premium to draft better contracts faster.