Common use of Blocked Accounts Clause in Contracts

Blocked Accounts. (a) In relation to any amount in excess of £30 million of Net Proceeds referred to in paragraphs (b)(i) and (b)(iii) of Clause 12.2 (Repayment from Net Proceeds), and any amount of Equity Proceeds contributed to the Bank Group under sub-paragraph (b)(ii) of Clause 12.6 (Repayment from Equity Proceeds) pending the acquisition, reinvestment, replacement, reinstatement or repair or application towards any capital expenditure, acquisition or investment as contemplated by such provisions, all such amounts shall be deposited in a Blocked Account. (b) At the election of the relevant Borrower, any amounts required to be prepaid under Clause 12.2 (Repayment from Net Proceeds), Clause 12.4 (Repayment from Excess Cash Flow), Clause 12.5 (Repayment from Debt Proceeds) or Clause 12.6 (Repayment from Equity Proceeds) may be deposited into a Blocked Account upon receipt thereof and applied by the Facility Agent in repayment of the Outstandings in accordance with Clause 11.3 (Application of Repayments), at the end of the then applicable Interest Period. (c) While there are any Outstandings or any of the Commitments are available for drawing, no amount shall be withdrawn from any Blocked Account by any member of the Group or the Facility Agent except for: (i) amounts to be applied (and which are then applied) in accordance with paragraph (a) above; (ii) amounts to be applied (and which are then applied) in accordance with paragraph (b) above; or (iii) following the Acceleration Date, applications by the Facility Agent of the whole or any part of the sums standing to the credit of a Blocked Account in or towards payment of any sums due and unpaid at any time from any Obligor under any Finance Document.

Blocked Accounts. (a) In relation to any amount in excess of £30 million of Net Proceeds referred to in paragraphs (b)(i) and (b)(iii) of Clause 12.2 (Repayment from Net Proceeds), and any amount of Equity Proceeds contributed to the Bank Group under sub-paragraph (b)(ii) of Clause 12.6 12.5 (Repayment from Equity Proceeds) pending the acquisition, reinvestment, replacement, reinstatement or repair or application towards any capital expenditure, acquisition or investment as contemplated by such provisions, all such amounts shall be deposited in a Blocked Account. (b) At the election of the relevant Borrower, any amounts required to be prepaid under Clause 12.2 (Repayment from Net Proceeds), Clause 12.4 (Repayment from Excess Cash Flow), Clause 12.5 (Repayment from Debt Proceeds) or Clause 12.6 12.5 (Repayment from Equity Proceeds) may be deposited into a Blocked Account upon receipt thereof and applied by the Facility Agent in repayment of the Outstandings in accordance with Clause 11.3 11.2 (Application of Repayments), at the end of the then applicable Interest Period. (c) While there are any Outstandings or any of the Commitments are available for drawing, no amount shall be withdrawn from any Blocked Account by any member of the Group or the Facility Agent except for: (i) amounts to be applied (and which are then applied) in accordance with paragraph (a) above; (ii) amounts to be applied (and which are then applied) in accordance with paragraph (b) above; or (iii) following the Acceleration Date, applications by the Facility Agent of the whole or any part of the sums standing to the credit of a Blocked Account in or towards payment of any sums due and unpaid at any time from any Obligor under any Relevant Finance Document.

Blocked Accounts. (a) In relation to any amount in excess of £30 million of Net Proceeds referred to in paragraphs (b)(i) and (b)(iii) of Clause 12.2 12.2(a) (Repayment from Net Proceeds), any amount of Debt Proceeds contributed to the Bank Group under sub-paragraphs (b)(viii) or (b)(ix) of Clause 12.5 (Repayment from Debt Proceeds) and any amount of Equity Proceeds contributed to the Bank Group under sub-paragraph paragraphs (b)(i) or (b)(ii) of Clause 12.6 (Repayment from Equity Proceeds) pending the acquisition, reinvestment, replacement, reinstatement or repair or application towards Capital Expenditure contemplated in Clause 12.2(b), or the application towards any capital expenditureacquisition, acquisition investment or investment as Capital Expenditure contemplated by such provisionsin Clause 12.5(b) or Clause 12.6(b), all such amounts shall be deposited in a Blocked Account. (b) At the election of the relevant Borrower, any amounts required to be prepaid under Clause 12.2 (Repayment from Net Proceeds), Clause 12.4 (Repayment from Excess Cash Flow), Clause 12.5 (Repayment from Debt Proceeds) or Clause 12.6 (Repayment from Equity Proceeds) may be deposited into a Blocked Account upon receipt thereof and applied by the Facility Agent in repayment of the Outstandings in accordance with Clause 11.3 (Application of Repayments), at the end of the then applicable Interest Period. (c) While there are any Outstandings or any of the Commitments are available for drawing, no amount shall be withdrawn from any Blocked Account by any member of the Group or the Facility Agent except for: for (i) amounts to be applied (and which are then applied) in accordance with paragraph sub-paragraphs (ab)(i) above; and (b)(iii) of Clause 12.2 (Repayment from Net Proceeds), sub-paragraphs (b)(viii) and (b)(ix) of Clause 12.5 (Repayment from Debt Proceeds) and sub-paragraphs (b)(i) and (b)(ii) of Clause 12.6 (Repayment from Equity Proceeds), (ii) amounts to be applied (and which are then applied) in or towards repayment of Outstandings in accordance with paragraph Clause 12.2 (bRepayment from Net Proceeds), Clause 12.5 (Repayment from Debt Proceeds) above; or or Clause 12.6 (Repayment from Equity Proceeds) or (iii) following the Acceleration Date, applications by the Facility Agent of the whole or any part of the sums standing to the credit of a Blocked Account in or towards payment of any sums due and unpaid at any time from any Obligor under any Finance Document.

Blocked Accounts. (a) In relation to any amount in excess of £30 million of Net Proceeds referred to in paragraphs (b)(i) and (b)(iii) of Clause 12.2 (Repayment from Net Proceeds), and any amount of Equity Proceeds contributed to the Bank Group under sub-paragraph (b)(ii) of Clause 12.6 (Repayment from Equity Proceeds) pending the acquisition, reinvestment, replacement, reinstatement or repair or application towards any capital expenditure, acquisition or investment as contemplated by such provisions, all such amounts shall be deposited in a Blocked Account. (b) At the election of the relevant Borrower, any amounts required to be prepaid under Clause 12.2 (Repayment from Net Proceeds), Clause 12.4 (Repayment from Excess Cash Flow), Clause 12.5 (Repayment from Debt Proceeds) or Clause 12.6 (Repayment from Equity Proceeds) may be deposited into a Blocked Account upon receipt thereof and applied by the Facility Agent in repayment of the Outstandings in accordance with Clause 11.3 (Application of Repayments), at the end of the then applicable Interest Period. (c) While there are any Outstandings or any of the Commitments are available for drawing, no amount shall be withdrawn from any Blocked Account by any member of the Group or the Facility Agent except for: (i) amounts to be applied (and which are then applied) in accordance with paragraph (a) above; (ii) amounts to be applied (and which are then applied) in accordance with paragraph (b) above; or (iii) following the Acceleration Date, applications by the Facility Agent of the whole or any part of the sums standing to the credit of a Blocked Account in or towards payment of any sums due and unpaid at any time from any Obligor under any Finance Document.

Blocked Accounts. (a) In relation to any amount of Net Proceeds or Equity Proceeds in excess of £30 million of Net Proceeds 20,000,000 (i) referred to in paragraphs (b)(i) and (b)(iii) of Clause 12.2 7.2(a) (Repayment from Net ProceedsProceeds of Disposals and Insurance Receivables), and any amount of Equity Proceeds (ii) contributed to the Bank TCN Group under sub-paragraph (b)(ix) of Clause 7.5 (Repayment from Debt Proceeds) or (iii) contributed to or invested in the TCN Group under sub-paragraph (b)(ii) of Clause 12.6 7.6 (Repayment from Equity Proceeds) pending the acquisition, reinvestment, replacement, reinstatement or repair or application towards Capital Expenditures contemplated in Clause 7.2(b), or the application towards any capital expenditureacquisition, acquisition investment or investment as Capital Expenditures contemplated by such provisionsin Clause 7.5(b) or Clause 7.6(b), all such amounts shall be deposited in a Blocked Account. (b) At the election of the relevant Borrower, any amounts required to be prepaid under Clause 12.2 (Repayment from Net Proceeds), Clause 12.4 (Repayment from Excess Cash Flow), Clause 12.5 (Repayment from Debt Proceeds) or Clause 12.6 (Repayment from Equity Proceeds) may be deposited into a Blocked Account upon receipt thereof and applied by the Facility Agent in repayment of the Outstandings in accordance with Clause 11.3 (Application of Repayments), at the end of the then applicable Interest Period. (c) While there are any Outstandings or any of the Commitments are available for drawing, no amount shall be withdrawn from any Blocked Account by any member of the Group or the Facility Agent except for: for (i) amounts to be applied (and which are then applied) in accordance with sub-paragraphs (b)(i) and (b)(iii) of Clause 7.2 (Repayment from Net Proceeds of Disposals and Insurance Recoveries), sub-paragraph (ab)(ix) above; of Clause 7.5 (Repayment from Debt Proceeds) and sub-paragraph (b)(ii) of Clause 7.6 (Repayment from Equity Proceeds), (ii) amounts to be applied (and which are then applied) in or towards repayment of Outstandings in accordance with paragraph Clause 7.2 (bRepayment from Net Proceeds of Disposals and Insurance Recoveries), Clause 7.5 (Repayment from Debt Proceeds) above; or or Clause 7.6 (Repayment from Equity Proceeds), (iii) at the election of TCN, amounts applied in or towards repayment of Revolving Facility Outstandings, or (iv) following the Acceleration Date, applications by the Facility Agent of the whole or any part of the sums standing to the credit of a Blocked Account in or towards payment of any sums due and unpaid at any time from any Obligor under any Finance Document.

Blocked Accounts. (a) In relation to any amount of Net Proceeds or Equity Proceeds in excess of £30 million of Net Proceeds 20,000,000 (i) referred to in paragraphs (b)(i) and (b)(iii) of Clause 12.2 11.2 (Repayment from Net ProceedsProceeds of Disposals and Insurance Receivables), and any amount of Equity Proceeds (ii) contributed to the Bank TCN Group under sub-paragraph (b)(ix) of Clause 11.5 (Repayment from Debt Proceeds) or (iii) contributed to or invested in the TCN Group under sub-paragraph (b)(ii) of Clause 12.6 11.6 (Repayment from Equity Proceeds) pending the acquisition, reinvestment, replacement, reinstatement or repair or application towards Capital Expenditures contemplated in Clause 11.2(b), or the application towards any capital expenditureacquisition, acquisition investment or investment as Capital Expenditures contemplated by such provisionsin Clause 11.5(b) or Clause 11.6(b), all such amounts shall be deposited in a Blocked Account. (b) At the election of the relevant Borrower, any amounts required to be prepaid under Clause 12.2 (Repayment from Net Proceeds), Clause 12.4 (Repayment from Excess Cash Flow), Clause 12.5 (Repayment from Debt Proceeds) or Clause 12.6 (Repayment from Equity Proceeds) may be deposited into a Blocked Account upon receipt thereof and applied by the Facility Agent in repayment of the Outstandings in accordance with Clause 11.3 (Application of Repayments), at the end of the then applicable Interest Period. (c) While there are any Outstandings or any of the Commitments are available for drawing, no amount shall be withdrawn from any Blocked Account by any member of the Group or the Facility Agent except for: for (i) amounts to be applied (and which are then applied) in accordance with sub-paragraphs (b)(i) and (b)(iii) of Clause 11.2 (Repayment from Net Proceeds of Disposals and Insurance Recoveries), sub-paragraph (ab)(ix) above; of Clause 11.5 (Repayment from Debt Proceeds) and sub-paragraph (b)(ii) of Clause 11.6 (Repayment from Equity Proceeds), (ii) amounts to be applied (and which are then applied) in or towards repayment of Outstandings in accordance with paragraph Clause 11.2 (bRepayment from Net Proceeds of Disposals and Insurance Recoveries), Clause 11.5 (Repayment from Debt Proceeds) above; or or Clause 11.6 (Repayment from Equity Proceeds), (iii) at the election of TCN, amounts applied in or towards repayment of Revolving Facility Outstandings, or (iv) following the Acceleration Date, applications by the Facility Agent of the whole or any part of the sums standing to the credit of a Blocked Account in or towards payment of any sums due and unpaid at any time from any Obligor under any Finance Document.