Common use of Certain Proceeds of Asset Sales Clause in Contracts

Certain Proceeds of Asset Sales. If during any fiscal year of any of the Credit Parties or their respective Subsidiaries has received cumulative Net Cash Proceeds during such fiscal year from one or more Asset Sales of at least $10,000,000 (other than Asset Sales permitted by Section 7.02(e)), not later than the third Business Day following the date of receipt of any Cash Proceeds in excess of such amount, an amount equal to 100% of the Net Cash Proceeds then received in excess of such amount from any Asset Sale shall be applied as a mandatory prepayment of the Loans in accordance with Section 2.10(b)(vii) below; provided, that (A) if no Default or Event of Default shall have occurred and be continuing, and (B) the Borrowers notify the Lender of the amount and nature thereof and of their intention to reinvest all or a portion of such Net Cash Proceeds in such capital expenditures during such 180-day period, then no such prepayment shall be required and may be applied as provided in Section 8.03 if an Event of Default occurs and is continuing. If at the end of any such 180-day period any portion of such Net Cash Proceeds has not been so reinvested, the Borrowers will immediately make a prepayment of the Loans, to the extent required above.

Certain Proceeds of Asset Sales. If during any fiscal year of the Company, the Company or any of the other Domestic Credit Parties or their respective Subsidiaries has received Party receives cumulative Net Cash Proceeds during such fiscal year from one or more Asset Sales of at least described in Section 7.02(e)(i) or Section 7.02(f) aggregating $10,000,000 (other than Asset Sales permitted by Section 7.02(e))or more for such fiscal year, not later than the third Business Day following the date of receipt of any Net Cash Proceeds in excess of such amount, the Company will make a prepayment of the Loans in an amount equal to 100% of the Net Cash Proceeds then received in excess of such amount from any Asset Sale shall be applied as a mandatory prepayment of the Loans in accordance with Section 2.10(b)(vii2.16(d) below; provided, that (A) if no Default or Event of Default shall have occurred and be continuing, and (B) the Borrowers notify Company notifies the Lender Global Agent of the amount and nature thereof and of their its intention to reinvest all or a portion of such Net Cash Proceeds in such capital expenditures assets used or useful in the business of the Company or any of its Subsidiaries during such 180-360 day period, then no such prepayment shall be required and may be applied to the extent of the amount of such Net Cash Proceeds as provided in Section 8.03 if an Event of Default occurs and is continuingto which the Company so indicates such reinvestment will take place. If at the end of any such 180-360 day period any portion of such Net Cash Proceeds in excess of $500,000 has not been so reinvested, the Borrowers Company will immediately make a prepayment of the Loans, to the extent required as provided above.

Certain Proceeds of Asset Sales. If during any fiscal year of the Company, the Company or any of the other Domestic Credit Parties or their respective Subsidiaries has received Party receives cumulative Net Cash Proceeds during such fiscal year from one or more Asset Sales of at least described in Section 7.02(f) aggregating $10,000,000 (other than Asset Sales permitted by Section 7.02(e))or more for such fiscal year, not later than the third Business Day following the date of receipt of any Net Cash Proceeds in excess of such amount, the Company will make a prepayment of the Loans in an amount equal to 100% of the Net Cash Proceeds then received in excess of such amount from any Asset Sale shall be applied as a mandatory prepayment of the Loans in accordance with Section 2.10(b)(vii2.16(d) below; provided, that (A) if no Default or Event of Default shall have occurred and be continuing, and (B) the Borrowers notify Company notifies the Lender Global Agent of the amount and nature thereof and of their its intention to reinvest all or a portion of such Net Cash Proceeds in such capital expenditures assets used or useful in the business of the Company or any of its Subsidiaries during such 180-360 day period, then no such prepayment shall be required and may be applied to the extent of the amount of such Net Cash Proceeds as provided in Section 8.03 if an Event of Default occurs and is continuingto which the Company so indicates such reinvestment will take place. If at the end of any such 180-360 day period any portion of such Net Cash Proceeds in excess of $500,000 has not been so reinvested, the Borrowers Company will immediately make a prepayment of the Loans, to the extent required as provided above.