Common use of Certain Asset Dispositions Clause in Contracts

Certain Asset Dispositions. At any time that Parent, the Borrower or any of its Subsidiaries sells, transfers or otherwise disposes of any of its assets or property (other than dispositions permitted under clauses (a), (b), (c), (d), (f), (g) and (h) of Subsection 8.7.2 (Sales and Other Dispositions)), the Borrower shall promptly prepay such amount of the Loans as is equal to the net cash proceeds of such disposition. If any proceeds are received in a form other than cash and subsequently converted into cash, then such proceeds shall be treated as net cash proceeds for purposes of this clause (d) at such time as they are converted into cash. Notwithstanding the foregoing, so long as no Event of Default or Default is then existing, and the Borrower notifies the Administrative Agent of its intent to do so at the time of receipt thereof, the Borrower may use the net cash proceeds of such dispositions to reinvest in like assets not prohibited by the terms of this Agreement made within 180 days after receipt of the net cash proceeds provided, however, that if the assets disposed of are held by the Borrower or a Subsidiary Guarantor, then the like assets shall also be held by the Borrower or a Subsidiary Guarantor. If the Borrower does not so notify the Administrative Agent, it shall prepay the Loans within five (5) Business Days of receipt of the proceeds. If the Borrower does so notify the Administrative Agent, but the Borrower fails to use the net cash proceeds to reinvest in like assets within said 180-day period, then the Borrower shall prepay the Loans on the date that is 180 days after the date of receipt of the net cash proceeds. Nothing in this paragraph shall be construed to permit dispositions otherwise prohibited by this Agreement.

Certain Asset Dispositions. At any time that Parent, the Borrower Parent or any of its Subsidiaries sells, transfers or otherwise disposes of any of its assets or property (other than dispositions permitted under clauses (a), (b), (c), (d), (f), (g) and (h) of Subsection 8.7.2 (Sales and Other Dispositions)) or contemplated by clause (b) above), the Borrower shall promptly prepay such amount of the Loans as is equal to the net cash proceeds of such disposition. If any proceeds are received in a form other than cash and subsequently converted into cash, then such proceeds shall be treated as net cash proceeds for purposes of this clause (dc) at such time as they are converted into cash. Notwithstanding the foregoing, so long as no Default or Event of Default or Default is then existing, and the Borrower notifies the Administrative Agent of its intent to do so at the time of receipt thereof, the Borrower (or Parent or such other relevant Subsidiary) may use the net cash proceeds of such dispositions to reinvest in like assets useful in the business of the Borrower and its Subsidiaries not prohibited by the terms of this Agreement made within 180 one hundred eighty (180) days after receipt of the net cash proceeds proceeds; provided, however, that if the assets disposed of are held by the Borrower or a Subsidiary Guarantor, then the like replacement assets shall also be held by the Borrower or a Subsidiary Guarantor. If the Borrower does not so notify the Administrative Agent, it shall prepay the Loans within five (5) Business Days of receipt of the proceeds. If the Borrower does so notify notifies the Administrative Agent, but the Borrower or such applicable Subsidiary fails to use the net cash proceeds to reinvest in like such replacement assets within said 180-day period, then the Borrower shall prepay the Loans on the date that is 180 one hundred eighty (180) days after the date of receipt of the net cash proceeds. Nothing in this paragraph shall be construed to permit dispositions otherwise prohibited by this Agreement. Notwithstanding the foregoing, the Borrower shall not use the proceeds of any asset disposition for any purpose other than the prepayment of the Obligations unless such other use is permitted under the Other Senior Debt Documents without creating an obligation to prepay a portion of the Borrowers obligations under the Other Senior Debt Documents.

Certain Asset Dispositions. At any time that Parent, the Borrower or any of its Subsidiaries sells, transfers or otherwise disposes of any of its assets or property (other than dispositions permitted under clauses (a), (b), (c), (d), (fe), (g) and (h) of Subsection 8.7.2 7.7.2 (Sales and Other Dispositions))) and the Net Proceeds of such disposition exceeds $1,000,000, the Borrower shall promptly prepay such amount of the Loans as is equal to the net cash proceeds Net Proceeds of such disposition. If any proceeds are received in a form other than cash and subsequently converted into cash, then such proceeds shall be treated as net cash proceeds Net Proceeds for purposes of this clause (d) Subsection 1.7.4 at such time as they are converted into cash. Notwithstanding the foregoing, so long as no Event of Default or Default is then existing, and the Borrower promptly notifies the Administrative Agent of its intent to do so at the time of receipt thereofof Net Proceeds otherwise required to prepay the Loans as set forth above, the Borrower may use the net cash proceeds of such dispositions Net Proceeds to reinvest in like assets the business of the Borrower or any Subsidiary in a manner not prohibited by the terms of this Agreement made so long as such reinvestment is consummated within 180 two hundred seventy (270) days after receipt of the net cash proceeds provided, however, that if the assets disposed of are held by the Borrower or a Subsidiary Guarantor, then the like assets shall also be held by the Borrower or a Subsidiary GuarantorNet Proceeds. If the Borrower does not so notify the Administrative Agent, it shall prepay the Loans within five (5) Business Days of receipt of the proceedsNet Proceeds. If the Borrower does so notify the Administrative Agent, but the Borrower fails to use reinvest such Net Proceeds into the net cash proceeds to reinvest in like assets business of the Borrower or any Subsidiary within said 180270-day period, then the Borrower shall prepay the Loans on the earlier of the date when the Borrower elects not to reinvest the Net Proceeds of such disposition or the date that is 180 two hundred seventy (270) days after the date of receipt of the net cash proceedsNet Proceeds. Nothing in this paragraph Subsection 1.7.4 shall be construed to permit dispositions otherwise prohibited by this Agreement.

Certain Asset Dispositions. At any time that Parent, Holdings, the Borrower or any of its Subsidiaries sells, transfers or otherwise disposes of any of its assets or property (other than dispositions permitted under clauses (a), (b), (c), (d), (f), (g) and (hc) of Subsection 8.7.2 (Sales and Other Dispositions)), the Borrower shall promptly prepay such amount of the Loans as is equal to the net cash proceeds of such disposition. If any proceeds are received in a form other than cash and subsequently converted into cash, then such proceeds shall be treated as net cash proceeds for purposes of this clause (d) at such time as they are converted into cash. Notwithstanding the foregoing, so long as no Event of Default or Default is then existing, and the Borrower notifies the Administrative Agent of its intent to do so at the time of receipt thereof, the Borrower may use the net cash proceeds of such dispositions to reinvest in like assets not prohibited by the terms of this Agreement made within 180 days after receipt of the net cash proceeds provided, however, that if the assets disposed of are held by the Borrower or a Subsidiary Guarantor, then the like assets shall also be held by the Borrower or a Subsidiary Guarantorproceeds. If the Borrower does not so notify the Administrative Agent, it shall prepay the Loans within five (5) Business Days of receipt of the proceeds. If the Borrower does so notify the Administrative Agent, but the Borrower fails to use the net cash proceeds to reinvest in like assets within said 180-day period, then the Borrower shall prepay the Loans on the date that is 180 days after the date of receipt of the net cash proceeds. Nothing in this paragraph shall be construed to permit dispositions otherwise prohibited by this Agreement.

Certain Asset Dispositions. At any time that Parent, the Borrower or any of its Subsidiaries sells, transfers or otherwise disposes of any of its assets or property (other than dispositions permitted under clauses (a), (b), (c), (d), (f), (g) and (hc) of Subsection 8.7.2 (Sales and Other Dispositions)), the Borrower shall promptly prepay such amount of the Loans as is equal to the net cash proceeds of such disposition. If any proceeds are received in a form other than cash and subsequently converted into cash, then such proceeds shall be treated as net cash proceeds for purposes of this clause (d) at such time as they are converted into cash. Notwithstanding the foregoing, so long as no Event of Default or Default is then existing, and the Borrower notifies the Administrative Agent of its intent to do so at the time of receipt thereof, the Borrower may use the net cash proceeds of such dispositions to reinvest in like assets not prohibited by the terms of this Agreement made within 180 days after receipt of the net cash proceeds provided, however, that if the assets disposed of are held by the Borrower or a Subsidiary Guarantor, then the like assets shall also be held by the Borrower or a Subsidiary Guarantor. If the Borrower does not so notify the Administrative Agent, it shall prepay the Loans within five (5) Business Days of receipt of the proceeds. If the Borrower does so notify the Administrative Agent, but the Borrower fails to use the net cash proceeds to reinvest in like assets within said 180-day period, then the Borrower shall prepay the Loans on the date that is 180 days after the date of receipt of the net cash proceeds. Nothing in this paragraph shall be construed to permit dispositions otherwise prohibited by this Agreement. Amounts paid pursuant to this clause (d) other than from proceeds of sales of Capital Stock or assets of any Non-Guarantor Ventures shall serve to permanently reduce the amount of the Commitment.