Common use of Collateral Proceeds Account Clause in Contracts

Collateral Proceeds Account. (a) Pursuant to this Indenture and the Collateral Agreements and subject to the terms of the Intercreditor Agreement if First-Lien Indebtedness is Incurred, the Company and the Guarantors will deposit in a cash collateral account (the “Collateral Proceeds Account”): (i) cash proceeds from any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) of Collateral having an aggregate fair market value of more than $10 million; (ii) any cash proceeds in excess of $10 million of any Collateral taken by eminent domain, expropriation or other similar governmental taking; and (iii) cash proceeds in excess of $10 million of insurance upon any part of the Collateral. (b) The Noteholder Collateral Agent will have a perfected security interest in the account for the benefit of the Trustee and the Noteholders. Proceeds of the account may only be released to the Company or the applicable Guarantor for use as permitted by clause (c) or (d) described under Section 4.13. (c) The Company will not be required to deposit any proceeds from eminent domain or other similar taking or insurance to the extent that it furnishes the Noteholder Collateral Agent and the Trustee with an Officers’ Certificate certifying that it has invested an amount in compliance with such clauses equal to, or in excess of, the amount of such proceeds in anticipation of receipt of such funds. (d) The Company and the Guarantors will be required to comply with the requirements described above with respect to dispositions of Collateral before they may use the moneys in the Collateral Proceeds Account.

Collateral Proceeds Account. (a) Pursuant to this Indenture and the Collateral Agreements and subject to the terms of the Intercreditor Agreement if First-Lien Indebtedness is Incurred, the Company and the Guarantors will deposit in a cash collateral account (the “Collateral Proceeds Account”): (i) cash proceeds from any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) of Collateral having an aggregate fair market value of more than $10 million; (ii) any cash proceeds in excess of $10 million of any Collateral taken by eminent domain, expropriation or other similar governmental taking; and (iii) cash proceeds in excess of $10 million of insurance upon any part of the Collateral. (b) The Noteholder Collateral Agent will have a perfected security interest in the such account for the benefit of the Trustee Trustee, the Noteholders and the Noteholdersholders of other Parity Lien Obligations. Proceeds of the account may only be released to the Company or the applicable Guarantor for use as permitted by clause (c) or (d) described under Section 4.13. (c) The Company will not be required to deposit any proceeds from eminent domain or other similar taking or insurance to the extent that it furnishes the Noteholder Collateral Agent and the Trustee with an Officers’ ' Certificate certifying that it has invested an amount in compliance with such clauses equal to, or in excess of, the amount of such proceeds in anticipation of receipt of such funds. (d) The Company and the Guarantors will be required to comply with the requirements described above with respect to dispositions of Collateral before they may use the moneys in the Collateral Proceeds Account.

Collateral Proceeds Account. (a) Pursuant to this Indenture and the Collateral Agreements and subject to the terms of the Intercreditor Agreement if First-Lien Indebtedness is Incurred, the Company and the Guarantors will deposit in a cash collateral account (the “Collateral Proceeds Account”): (i) net cash proceeds from any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) of Collateral having an aggregate fair market value of more than $10 10.0 million; (ii) any cash proceeds in excess of $10 10.0 million of any Collateral taken by eminent domain, expropriation or other similar governmental taking; and (iii) cash proceeds in excess of $10 10.0 million of insurance upon any part of the Collateral. (b) The Noteholder Collateral Agent will have a perfected security interest in the such account for the benefit of itself, the Trustee Trustee, the Noteholders and the Noteholdersholders of other Parity Lien Obligations. Proceeds of the account may only be released to the Company or the applicable Guarantor for use as permitted by clause (c‎(c) or (d‎(d) described under Section ‎Section 4.13. (c) The Company will not be required to deposit any proceeds from eminent domain or other similar taking or insurance to the extent that it furnishes the Noteholder Collateral Agent and the Trustee with an Officers’ Certificate certifying that it has invested an amount in compliance with such clauses equal to, or in excess of, the amount of such proceeds in anticipation of receipt of such funds. (d) The Company and the Guarantors will be required to comply with the requirements described above with respect to dispositions of Collateral before they may use the moneys in the Collateral Proceeds Account.

Collateral Proceeds Account. (a) Pursuant to this Indenture and the Collateral Agreements and subject to the terms of the Intercreditor Agreement if First-Lien Indebtedness is Incurred, the Company and the Guarantors will deposit in a cash collateral account (the “Collateral Proceeds Account”): (i) net cash proceeds from any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) of Collateral having an aggregate fair market value of more than $10 10.0 million; (ii) any cash proceeds in excess of $10 10.0 million of any Collateral taken by eminent domain, expropriation or other similar governmental taking; and (iii) cash proceeds in excess of $10 10.0 million of insurance upon any part of the Collateral. (b) The Noteholder Collateral Agent will have a perfected security interest in the such account for the benefit of itself, the Trustee Trustee, the Noteholders and the Noteholdersholders of other Parity Lien Obligations. Proceeds of the account may only be released to the Company or the applicable Guarantor for use as permitted by clause (c) or (d) described under Section 4.13. (c) The Company will not be required to deposit any proceeds from eminent domain or other similar taking or insurance to the extent that it furnishes the Noteholder Collateral Agent and the Trustee with an Officers’ Certificate certifying that it has invested an amount in compliance with such clauses equal to, or in excess of, the amount of such proceeds in anticipation of receipt of such funds. (d) The Company and the Guarantors will be required to comply with the requirements described above with respect to dispositions of Collateral before they may use the moneys in the Collateral Proceeds Account.