Definition of Net Proceeds Clause Samples
Definition of Net Proceeds. The net proceeds for each product pool shall be defined as the gross sales from such pool by MIDWEST, less:
(a) All costs, charges or expenses directly attributable to the sale of the Co-Product;
(b) All costs of transportation and handling of the Co-Product, including storage costs incurred by MIDWEST;
(c) Insurance premiums paid by MIDWEST;
(d) State feed inspection and all other fees and taxes incurred in the marketing of the Co-Product;
(e) All other direct and indirect charges or expenses, including administrative and overhead, attributable to the sale of the Co-Product in the operation of the product pools; and
(f) All losses incurred by MIDWEST as a result of uncollectible accounts receivable shall be allocated to the appropriate product pool and shall be regarded as a marketing expense in determining the net proceeds of that product pool.
Definition of Net Proceeds. Section 1.01 of the Indenture is hereby amended by changing the definition of Net Proceeds to read in its entirety as follows:
Definition of Net Proceeds. As used in this Agreement, “Net Proceeds” shall be determined as follows:
(a) With respect to any sale, transfer, conveyance, or condemnation pursuant to power of eminent domain or conveyance in lieu thereof, failure of title or other transfer or loss of all or substantially all of the Property, including damage to such a substantial portion of the Property that the Property cannot be reconstructed or rebuilt within a reasonable time to permit the economic use of the Property (the foregoing are referred to collectively hereinafter as a “Complete Disposition”), the Net Proceeds shall equal the gross proceeds received by the Company as a result of such Complete Disposition (including, without limitation, the fair market value of any non-cash consideration received by the Company) less all costs and expenses relating thereto payable by the Company to third parties.
(b) With respect to any refinancing obtained by the Company which is secured by a lien on any of the Property or any portion thereof (referred to hereinafter as a “Financing”), the Net Proceeds shall equal the total principal amount of any such Financing received by the Company less (i) that portion of the Financing which is used for the purpose of acquiring or improving the Property, (ii) the costs of such Financing, and (iii) the amount of any debt (principal and interest) retired by such Financing.
Definition of Net Proceeds. Net Proceeds" shall mean, with respect to a Company Sale, (x) the gross amount of consideration payable to the Company or its stockholders in respect of such Company Sale, less (y) transaction fees, commissions and other similar expenses that are incurred in connection with the Company Sale and are paid by the Company or its stockholders (to the extent not already deducted in arriving at the amount referred to in clause (x) above).
Definition of Net Proceeds. For the purposes of this Agreement, the term "Net Proceeds" shall mean the amount of gross proceeds received by the Purchaser (or Indeglia) pursuant to the sale of shares of Common Stock issued pursuant to this Agreement, less any commissions, SEC fees, wire transfer fees, and other fees set forth in Section 5 of the Plan.