Common use of Disposition Events Clause in Contracts

Disposition Events. Upon the date of receipt of any Net ------------------ Available Proceeds from any Disposition Event other than Dispositions made pursuant to Section 9.19, in an aggregate principal amount equal to 100% of the Net Available Proceeds from such Disposition Event; provided, however, -------- ------- that (x) the Net Available Proceeds from any Disposition Event permitted by Sections 9.06(g) and 9.06(n) shall not be required to be applied as provided herein on such date if and to the extent that (1) no Default or Event of Default then exists and (2) Borrower delivers an Officer's Certificate to the Administrative Agent on or prior to such date stating that such Net Available Proceeds shall be reinvested in capital assets of Borrower or any Subsidiary in each case within the 365 day period following the date of such Disposition Event (which certificate shall set forth the estimates of the proceeds to be so expended), (y) all such Net Available Proceeds shall be held in the Collateral Account and released therefrom only in accordance with the terms of the Security Agreement, and (z) if all or any portion of such Net Available Proceeds not so applied as provided herein is not so used (or committed to be used pursuant to a binding written agreement) within such 365 day period, such remaining portion shall be applied on the last day of such period as specified in Section 2.10(b) (it being understood that the foregoing shall in no way affect the obligation of Borrower to obtain the consent of the Majority Lenders if required pursuant to this Agreement).

Disposition Events. Upon the date of receipt of any Net ------------------ Available Proceeds from any Disposition Event other than Dispositions made pursuant to Section 9.19Event, in an aggregate principal amount equal to 100% of the Net Available Proceeds from such Disposition EventEvent to the extent such Net Available Proceeds, when added to the Net Available Proceeds of each other Disposition during the same calendar year exceeds $250,000; provided, however, -------- ------- that (xi) the Net Available Proceeds from any -------- ------- Disposition Event permitted by Sections 9.06(g) and 9.06(nSection 9.06(j) shall not be required to be applied as provided herein on such date if and to the extent that (1) no Default or Event of Default then exists or would arise therefrom and (2) Borrower delivers an Officer's Officers' Certificate to the Administrative Agent on or prior to such date stating that such Net Available Proceeds shall be reinvested in capital assets of Borrower or any Subsidiary the Companies in each case within the 365 day period 180 days following the date of such Disposition Event (which certificate shall set forth the estimates of the proceeds to be so expended), ) and (yii) all such Net Available Proceeds in excess of the remainder of $1.0 million less any amount not held in the Collateral Account by virtue of the analogous provision of Section 2.10(a)(i) or (v) shall be held in the Collateral Account and released therefrom only in accordance with the terms of the Security Agreement; provided, and (z) further, however, that if all or any portion of such Net -------- ------- ------- Available Proceeds not so applied as provided herein is not so used (or committed to be used pursuant to a binding written agreement) within such 365 180 day period, such remaining portion shall be applied on the last day of such period as specified in Section 2.10(b) (it being understood that the foregoing shall in no way affect the obligation of Borrower to obtain the consent of the Majority Lenders if required pursuant to this Agreement).

Disposition Events. Upon the date of receipt of any Net ------------------ Available Proceeds from any Disposition Event other than Dispositions made pursuant to Section 9.19, in an aggregate principal amount equal to 100% of the Net Available Proceeds from such Disposition Event; provided, however, -------- ------- that (x) -------- ------- the Net Available Proceeds from any Disposition Event permitted by Sections 9.06(g) and 9.06(n9.06(m) shall not be required to be applied as provided herein on such date if and to the extent that (1) no Default or Event of Default then exists and (2) Borrower delivers an Officer's Certificate to the Administrative Agent on or prior to such date stating that such Net Available Proceeds shall be reinvested in capital assets of Borrower or any Subsidiary in each case within the 365 day period following the date of such Disposition Event (which certificate shall set forth the estimates of the proceeds to be so expended), (y) all such Net Available Proceeds shall be held in the Collateral Account and released therefrom only in accordance with the terms of the Security Agreement, and (z) if all or any portion of such Net Available Proceeds not so applied as provided herein is not so used (or committed to be used pursuant to a binding written agreement) within such 365 day period, such remaining portion shall be applied on the last day of such period as specified in Section 2.10(b) (it being understood that the foregoing shall in no way affect the obligation of Borrower to obtain the consent of the Majority Lenders if required pursuant to this Agreement).

Disposition Events. Upon the date of receipt of any Net ------------------ Available Proceeds from any Disposition Event other than Dispositions made pursuant to Section 9.19Event, in an aggregate principal amount equal to 100% of the Net Available Proceeds from such Disposition Event; providedPROVIDED, howeverHOWEVER, -------- ------- that (xi) the Net Available Proceeds from any Disposition Event permitted by Sections 9.06(gSection 9.06(j) and 9.06(nor (k) shall in each case not be required to be applied as provided herein on such date if and to the extent that (1) no Default or Event of Default then exists and (2) Borrower delivers an Officer's Officers' Certificate to the Administrative Agent on or prior to such date stating that such Net Available Proceeds shall be reinvested in capital assets of Borrower or any Subsidiary in each case within the 365 day period 360 days following the date of such Disposition Event (which certificate shall set forth the estimates of the proceeds to be so expended), expended and) and (yii) all such Net Available Proceeds shall be held in the Collateral Account and released therefrom only in accordance with the terms of the Security Agreement; PROVIDED, and (z) FURTHER, HOWEVER, that if all or any portion of such Net Available Proceeds not so applied as provided herein is not so used (or committed to be used pursuant to a binding written agreement) within such 365 360 day period, such remaining portion shall be applied on the last day of such period as specified in Section 2.10(b) (it being understood that the foregoing shall in no way affect the obligation of Borrower to obtain the consent of the Majority Lenders if required pursuant to this Agreement).

Disposition Events. Upon On or prior to the third Business Day after the date of receipt by any Company of any Net ------------------ Available Proceeds from any Disposition Event other than Dispositions made pursuant to Section 9.19on or after the Closing Date, in an aggregate principal amount equal to 100% of the Net Available Proceeds from such Disposition Event; provided, however, -------- ------- that (x) the Net Available Proceeds from any Disposition Event permitted by Sections pursuant to Section 9.06(g) and 9.06(n25% of the Net Available Proceeds from any Disposition Event pursuant to Section 9.06(h) shall not be required to be applied as provided herein on such date if and to the extent that (1) no Default or Event of Default then exists or would arise therefrom and (2) Borrower delivers an Officer's Certificate to the Administrative Agent on or prior to such date stating that such Net Available Proceeds shall be reinvested in capital assets of Borrower or any Subsidiary in each case within the 365 day period 180 days following the date of such Disposition Event (which certificate shall set forth the estimates of the proceeds to be so expended), ) and (y) all such Net Available Proceeds shall be held in the Collateral Account and released therefrom only in accordance with the terms of the Security Agreement, and (z) if all or any portion of such Net Available Proceeds not so applied as provided herein is not so used (or committed to be used pursuant to a binding written agreement) within such 365 180 day period, such remaining portion shall be paid by Borrower to the Administrative Agent and applied by the Administrative Agent on the last day of such period as specified in Section 2.10(b) ), unless prior to such 180th day a Company shall have entered into a binding agreement to so use such Net Available Proceeds, in each case within 180 days after the date of such agreement (it being understood that and if not so used, the foregoing Net Available Proceeds shall be applied as specified in no way affect the obligation of Borrower to obtain the consent of the Majority Lenders if required pursuant to this AgreementSection 2.10(b)).

Disposition Events. Upon On or prior to the third Business Day after the date of receipt by any Company of any Net ------------------ Available Proceeds from any Disposition Event other than Dispositions made pursuant to Section 9.19on or after the Closing Date, in an aggregate principal amount equal to 100% of the Net Available Proceeds from such Disposition Event; provided, however, -------- ------- that (x) the Net Available Proceeds from any Disposition Event permitted by Sections pursuant to Section 9.06(g) and 9.06(n25% of the Net Available Proceeds from any Disposition Event pursuant to Section 9.06(h) shall not be required to be applied as provided herein on such date if and to the extent that (1) no Default or Event of Default then exists or would arise therefrom and (2) Borrower delivers an Officer's Certificate to the Administrative Agent on or prior to such date stating that such Net Available Proceeds shall be reinvested in capital assets of Borrower or any Subsidiary in each case within the 365 day period 180 days following the date of such Disposition Event (which certificate shall set forth the estimates of the proceeds to be so expended), (y) all such Net Available Proceeds shall be delivered to the Administrative Agent within 30 days of such receipt to be held in the Collateral Account and released therefrom only in accordance with the terms of the Security AgreementSection 12, and (z) if all or any portion of such Net Available Proceeds not so applied as provided herein is not so used (or committed to be used pursuant to a binding written agreement) within such 365 180 day period, such remaining portion shall be applied on the last day of such period as specified in Section 2.10(b) ), unless prior to such 180th day a Company shall have entered into a binding agreement to so use such Net Available Proceeds, in each case within 180 days after the date of such agreement (it being understood that and if not so used, the foregoing Net Available Proceeds shall be applied as specified in no way affect Section 2.10(b)). Any interest income from Net Available Proceeds held in the obligation Collateral Account shall be for the account of Borrower and, so long as no Default then exists and subject to obtain the consent Section 12, shall be delivered to Borrower (after deduction of the Majority Lenders customary administrative fees and expenses, if required pursuant any) from time to this Agreement)time upon request by Borrower.