Common use of Asset Sales; Insurance Proceeds Clause in Contracts

Asset Sales; Insurance Proceeds. Upon the consummation by the Borrower or any Subsidiary of any sale of any Property constituting Collateral (other than sales permitted under Sections 6.12.1, 6.12.2 and 6.12.15), in each case except to the extent that the Net Cash Proceeds of such sale, when combined with the Net Cash Proceeds of all such sales during the immediately preceding twelve-month period, do not exceed $75,000,000 for any such sale or series of related sales, within three (3) Business Days after the Borrower’s or any of its Subsidiaries’ receipt of any Net Cash Proceeds from any such sale, or upon the Borrower’s receipt of Net Cash Proceeds under any insurance policy covering Collateral (but in no event under any insurance policy not covering Collateral) as contemplated in Section 6.24, the Borrower shall make a mandatory prepayment of the outstanding principal amount of the Revolving Loans in the amount of such Net Cash Proceeds. Such mandatory prepayment shall be applied in accordance with Sections 2.2.3 and 2.2.5.

Asset Sales; Insurance Proceeds. Upon the consummation by the Borrower or any Subsidiary of any sale of any Property constituting Collateral (other than sales permitted under Sections 6.12.1, 6.12.2 6.12.1 and 6.12.156.12.2), in each case except to the extent that the Net Cash Proceeds of such sale, when combined with the Net Cash Proceeds of all such sales during the immediately preceding twelve-month period, do not exceed $75,000,000 50,000,000 for any such sale or series of related sales, within three (3) Business Days after the Borrower’s or any of its Subsidiaries’ receipt of any Net Cash Proceeds from any such sale, or upon the Borrower’s receipt of Net Cash Proceeds under any insurance policy covering Collateral (but in no event under any insurance policy not covering Collateral) as contemplated in Section 6.24, the Borrower shall make a mandatory prepayment of the outstanding principal amount of the Revolving Loans in the amount of such Net Cash Proceeds. Such mandatory prepayment shall be applied in accordance with Sections 2.2.3 and Section 2.2.5.

Asset Sales; Insurance Proceeds. Upon the consummation by the Borrower or any Subsidiary of any sale of (i) Marine Services Assets or Retail Property, and (ii) any Property constituting Collateral (other than sales permitted under Sections 6.12.1, 6.12.2 6.12.1 and 6.12.156.12.2), in each case except to the extent that the Net Cash Proceeds of such sale, when combined with the Net Cash Proceeds of all such sales during the immediately preceding twelve-month period, do not exceed $75,000,000 5,000,000 for any such sale or series of related sales, within three (3) Business Days after the Borrower’s 's or any of its Subsidiaries’ ' receipt of any Net Cash Proceeds from any such sale, or upon the Borrower’s 's receipt of Net Cash Proceeds under any insurance policy covering Collateral (but in no event under any insurance policy not covering Collateral) as contemplated in Section 6.24, the Borrower shall make a mandatory prepayment of the outstanding principal amount of the Revolving Loans in the amount of such Net Cash Proceeds. Such mandatory prepayment shall be applied in accordance with Sections 2.2.3 and Section 2.2.5.

Asset Sales; Insurance Proceeds. Upon the consummation by the Borrower or any Subsidiary of any sale of (i) Retail Property, and (ii) any Property constituting Collateral (other than sales permitted under Sections 6.12.1, 6.12.2 6.12.1 and 6.12.156.12.2), in each case except to the extent that the Net Cash Proceeds of such sale, when combined with the Net Cash Proceeds of all such sales during the immediately preceding twelve-month period, do not exceed $75,000,000 15,000,000 for any such sale or series of related sales, within three (3) Business Days after the Borrower’s 's or any of its Subsidiaries’ ' receipt of any Net Cash Proceeds from any such sale, or upon the Borrower’s 's receipt of Net Cash Proceeds under any insurance policy covering Collateral (but in no event under any insurance policy not covering Collateral) as contemplated in Section 6.24, the Borrower shall make a mandatory prepayment of the outstanding principal amount of the Revolving Loans in the amount of such Net Cash Proceeds. Such mandatory prepayment shall be applied in accordance with Sections 2.2.3 and Section 2.2.5.