Common use of Dispositions and Recovery Events Clause in Contracts

Dispositions and Recovery Events. The Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereafter provided in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds in excess of $5,000,000 during any fiscal year received by the Borrower or any Restricted Subsidiary from all Dispositions other than Dispositions permitted by Sections 7.05(a) through (x) (other than Section 7.05(m)) and Recovery Events to the extent such Net Cash Proceeds in excess of $5,000,000 are not reinvested in long-term assets (excluding current assets as classified by GAAP) that are useful or usable in the business of the Borrower and its Restricted Subsidiaries within three hundred sixty-five (365) days of the date of such Disposition or Recovery Event; provided, however, if any portion of such Net Cash Proceeds are not so reinvested within such 365-day period but within such 365-day period are contractually committed to be reinvested, then upon the termination of such contract or if such Net Cash Proceeds are not so reinvested within five hundred forty-five (545) days of initial receipt, such remaining portion shall constitute Net Cash Proceeds as of the date of such termination or expiry and shall be immediately applied to the prepayment of the Term Loans as set forth in this Section 2.06(b)(ii). Any prepayment pursuant to this clause (ii) shall be applied as set forth in clause (v) below.

Dispositions and Recovery Events. The Borrower Borrowers shall prepay the Loans and/or Cash Collateralize the L/C Obligations and Bankers’ Acceptance Obligations as hereafter provided in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds in excess of $5,000,000 50,000,000 during any fiscal year received by the Borrower Company or any Restricted Subsidiary from all Dispositions (other than Dispositions permitted by Sections 7.05(a) through (x) (other than Section 7.05(m)) and Recovery Events to the extent such Net Cash Proceeds in excess of $5,000,000 50,000,000 are not reinvested in long-term assets (excluding current assets as classified by GAAPIFRS) that are useful or usable in the business of the Borrower Company and its Restricted Subsidiaries within three hundred sixty-five (365) days of the date of such Disposition or Recovery Event; provided, however, if any portion of such Net Cash Proceeds are not so reinvested within such 365-day period but within such 365-day period are contractually committed to be reinvested, then upon the termination of such contract or if such Net Cash Proceeds are not so reinvested within five hundred forty-five (545) days of initial receipt, such remaining portion shall constitute Net Cash Proceeds as of the date of such termination or expiry and shall be immediately applied to the prepayment of the Term Loans as set forth in this Section 2.06(b)(ii). Any prepayment pursuant to this clause (ii) shall be applied as set forth in clause (v) below.

Dispositions and Recovery Events. The Borrower shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereafter provided in an aggregate amount equal to one hundred percent (100%) % of the Net Cash Proceeds in excess of $5,000,000 during any fiscal year received by the Borrower any Loan Party or any Restricted Subsidiary from all Dispositions other than Dispositions permitted by Sections 7.05(a) through (x) (other than Section 7.05(m)Permitted Transfers) and Recovery Events to the extent (A) such Net Cash Proceeds in excess of $5,000,000 are not (x) reinvested in long-term assets (excluding current assets as classified by GAAP) that are useful or usable in the business of the Borrower and its Restricted Subsidiaries within three hundred sixty-five (365) 270 days of the date of such Disposition or Recovery Event; provided, however, if any portion receipt of such Net Cash Proceeds are not so reinvested within such 365-day period but within such 365-day period are contractually or (y) committed to be reinvested, then upon reinvested pursuant to a binding contractual commitment in assets (excluding current assets as classified by GAAP) that are useful in the termination business of such contract or if the Borrower and its Subsidiaries within 270 days of the date of receipt of such Net Cash Proceeds are not so and actually reinvested within five hundred forty-five (545) 360 days of initial receipt, such remaining portion shall constitute Net Cash Proceeds as of the date of receipt of such termination or expiry and Net Cash Proceeds (it being understood that such prepayment shall be due immediately applied to upon the prepayment expiration of such 270 day period or 360 day period, as applicable) and (B) the Term Loans as set forth aggregate amount of Net Cash Proceeds not so reinvested in this Section 2.06(b)(ii). Any prepayment pursuant to this accordance with the foregoing clause (iiA) shall be applied as set forth exceed $1,000,000 in clause (v) belowany fiscal year of Holdings.

Dispositions and Recovery Events. The Borrower Borrowers shall prepay the Loans and/or Cash Collateralize the L/C Obligations and Bankers’ Acceptance Obligations as hereafter provided in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds in excess of $5,000,000 50,000,000 during any fiscal year received by the Borrower Company or any Restricted Subsidiary from all Dispositions (other than Dispositions permitted by Sections 7.05(a) through (x) (other than Section 7.05(m)) and Recovery Events to the extent such Net Cash Proceeds in excess of $5,000,000 50,000,000 are not reinvested in long-term assets (excluding current assets as classified by GAAPIFRS) that are useful or usable in the business of the Borrower Company and its Restricted Subsidiaries within three hundred sixty-five (365) days of the date of such Disposition or Recovery Event; provided, however, if any portion of such Net Cash Proceeds are not so reinvested within such 365-day period but within such 365-day period are contractually committed to be reinvested, then upon the termination of CHAR1\1976173v4 such contract or if such Net Cash Proceeds are not so reinvested within five hundred forty-five (545) days of initial receipt, such remaining portion shall constitute Net Cash Proceeds as of the date of such termination or expiry and shall be immediately applied to the prepayment of the Term Loans as set forth in this Section 2.06(b)(ii). Any prepayment pursuant to this clause (ii) shall be applied as set forth in clause (v) below.

Dispositions and Recovery Events. The Borrower Borrowers shall prepay the Loans and/or Cash Collateralize the L/C Obligations as hereafter provided in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds in excess of $5,000,000 50,000,000 during any fiscal year received by the Borrower Company or any Restricted Subsidiary from all Dispositions (other than Dispositions permitted by Sections 7.05(a) through (x) (other than Section 7.05(my)) and Recovery Events to the extent such Net Cash Proceeds in excess of $5,000,000 50,000,000 are not reinvested in long-term assets (excluding current assets as classified by GAAPthe Applicable Accounting Standard as in effect on such date) that are useful or usable in the business of the Borrower Company and its Restricted Subsidiaries within three hundred sixty-five (365) days of the date of such Disposition or Recovery Event; provided, however, if any portion of such Net Cash Proceeds are not so reinvested within such 365-day period but within such 365-day period are contractually committed to be reinvested, then upon the termination of such contract or if such Net Cash Proceeds are not so reinvested within five hundred forty-five (545) days of initial receipt, such remaining portion shall constitute Net Cash Proceeds as of the date of such termination or expiry and shall be immediately applied to the prepayment of the Term Loans as set forth in this Section 2.06(b)(ii). Any prepayment pursuant to this clause (ii) shall be applied as set forth in clause (v) below.