Delivery of Proceeds. The Borrowers shall deliver to the Administrative Agent, promptly upon receipt thereof, all Net Cash Sale Proceeds or proceeds relating to Casualty Events that may have to be applied to prepay the Revolving Credit Loans if not reinvested as permitted in § 4.1, to be held as Collateral pending reinvestment in accordance with such § 4.1. Upon the Borrowers’ request, any cash amounts delivered to the Administrative Agent to be held as Collateral under this § 4.3 may be applied to repay Revolving Credit Loans.
Appears in 2 contracts
Samples: Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.), Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.)
Delivery of Proceeds. The Borrowers shall deliver to the Administrative Agent, promptly upon receipt thereof, all Net Cash Sale Proceeds or proceeds relating to Casualty Events that may have to be applied to prepay the Revolving Credit Loans if not reinvested as permitted in § 4.1§4.2(a) and (b), to be held as Collateral pending reinvestment in accordance with such § 4.1§§4.2(a) and (b). Upon the Borrowers’ request, any cash amounts delivered to the Administrative Agent to be held as Collateral under this § 4.3 §4.4 may be applied to repay Revolving Credit Loans.
Appears in 2 contracts
Samples: Revolving Credit Agreement (McCormick & Schmick Holdings, L.L.C.), Revolving Credit Agreement (McCormick & Schmicks Seafood Restaurants Inc.)
