Common use of Asset Sales and Property Loss Events Clause in Contracts

Asset Sales and Property Loss Events. Upon receipt on or after the Closing Date by any Group Member of Net Cash Proceeds arising from (i) any Sale by any Group Member of any of its property, including Stock held by it, or any issuance of shares of its own Stock, in each case pursuant to clause (a)(ii), (b)(ii) or (e) of Section 8.4 or that is not permitted by Section 8.4 or (ii) any Property Loss Event with respect to any property of any Group Member, the Borrower shall promptly pay or cause to be paid to the Administrative Agent an amount equal to the lesser of (x) the amount of Obligations outstanding on such date of determination and (y) 100% of such Net Cash Proceeds; provided, that upon any such receipt, as long as no Event of Default shall be continuing, any Group Member may make Permitted Reinvestments with such Net Cash Proceeds and the Borrower shall not be required to make or cause such payment to the extent (x) such Net Cash Proceeds are intended to be used to make Permitted Reinvestments and (y) on each Reinvestment Prepayment Date for such Net Cash Proceeds, the Borrower shall pay or cause to be paid to the Administrative Agent an amount equal to the lesser of (x) the amount of Obligations outstanding on such date of determination and (y) the Reinvestment Prepayment Amount applicable to such Reinvestment Prepayment Date and such Net Cash Proceeds.

Asset Sales and Property Loss Events. Upon Within five Business Days of receipt on or after the Closing Date by any Group Member of Net Cash Proceeds arising from (i) any Sale by any Group Member of any of its property, including Stock held by it, or any issuance of shares property other than Sales of its own Stock, Stock and Sales of property permitted hereunder in each case pursuant to clause (a)(ii), (b)(ii) or (e) of Section 8.4 or that is not permitted by reliance upon Section 8.4 or (ii) any Property Loss Event with respect to any property of any Group MemberMember to the extent resulting, in the aggregate with all other such Property Loss Events, in the receipt by any of them of Net Cash Proceeds in excess of $1,000,000, the Borrower shall promptly immediately pay or cause to be paid to the Administrative Agent an amount equal to the lesser of (x) the amount of Obligations outstanding on such date of determination and (y) 100% of such Net Cash Proceeds; provided, that however, that, upon any such receipt, as long as no Event of Default shall be continuing, any Group Member may make Permitted Reinvestments with such Net Cash Proceeds and the Borrower shall not be required to make or cause such payment to the extent (x) such Net Cash Proceeds are intended to be used to make Permitted Reinvestments and (y) on each Reinvestment Prepayment Date for such Net Cash Proceeds, the Borrower shall pay or cause to be paid to the Administrative Agent an amount equal to the lesser of (x) the amount of Obligations outstanding on such date of determination and (y) the Reinvestment Prepayment Amount applicable to such Reinvestment Prepayment Date and such Net Cash Proceeds.

Asset Sales and Property Loss Events. Upon receipt on or after the Closing Date by any Group Member Loan Party or any of its Subsidiaries of Net Cash Proceeds arising from (i) any Sale by any Group Member of any of its property, including Stock held to the extent resulting, in the aggregate with all other Sales from and after the Closing Date, in the receipt by itany of them of Net Cash Proceeds in excess of $100,000, or but excluding any issuance of shares Sales of its own Stock, Stock and Sales of property permitted hereunder in each case pursuant to clause reliance upon any of clauses (a)(ii), (b)(iia) or through (e) of Section 8.4 or that is not permitted by Section 8.4 or (ii) any Property Loss Event with respect to any property of any Group MemberMember to the extent resulting in the aggregate, with all other such Property Loss Events from and after the Closing Date, in the receipt by any of them of Net Cash Proceeds in excess of $100,000, the Borrower shall promptly immediately pay or cause to be paid to the Administrative Agent an amount equal to the lesser of (x) the amount of Obligations outstanding on such date of determination and (y) 100% of such Net Cash Proceeds; provided, that however, that, upon any such receipt, as long as no Event of Default shall be continuing, any Group Member may make Permitted Reinvestments with such Net Cash Proceeds and the Borrower shall not be required to make or cause such payment to the extent (x) such Net Cash Proceeds are intended to be used to make Permitted Reinvestments and (y) Reinvestments, so long as, on each Reinvestment Prepayment Date for such Net Cash Proceeds, the Borrower shall pay or cause to be paid to the Administrative Agent an amount equal to the lesser of (x) the amount of Obligations outstanding on such date of determination and (y) the Reinvestment Prepayment Amount applicable to such Reinvestment Prepayment Date and such Net Cash Proceeds.

Asset Sales and Property Loss Events. Upon So long as no “Obligations” (as defined in the First Lien Credit Agreement) are outstanding, then upon receipt on or after the Closing Date by any Group Member Loan Party or any of its Subsidiaries of Net Cash Proceeds arising from (i) any Sale by any Group Member of any of its propertyproperty to the extent resulting, including Stock held in the aggregate with all other such Sales, in the receipt by itany of them of Net Cash Proceeds in excess of $500,000, or but excluding any issuance of shares Sales of its own Stock, Stock and Sales of property permitted hereunder in each case pursuant to clause reliance upon any of clauses (a)(ii), (b)(iia) or through (e) of Section 8.4 or that is not permitted by Section 8.4 or (ii) any Property Loss Event with respect to any property of any Group MemberMember to the extent resulting, in the aggregate with all other such Property Loss Events, in the receipt by any of them of Net Cash Proceeds in excess of $500,000, the Borrower shall promptly immediately pay or cause to be paid to the Administrative Agent an amount equal to the lesser of (x) the amount of Obligations outstanding on such date of determination and (y) 100% of such Net Cash Proceeds; provided, that however, that, upon any such receipt, as long as no Event of Default shall be continuing, any Group Member may make Permitted Reinvestments with such Net Cash Proceeds and the Borrower shall not be required to make or cause such payment to the extent (x) such Net Cash Proceeds are intended to be used to make Permitted Reinvestments and (y) Reinvestments, so long as, on each Reinvestment Prepayment Date for such Net Cash Proceeds, the Borrower shall pay or cause to be paid to the Administrative Agent an amount equal to the lesser of (x) the amount of Obligations outstanding on such date of determination and (y) the Reinvestment Prepayment Amount applicable to such Reinvestment Prepayment Date and such Net Cash Proceeds.