Common use of Funds Transfers Clause in Contracts

Funds Transfers. If Guarantor receives cash proceeds as a result of any transaction or event as a result of which Borrower is required to make a mandatory prepayment with respect to the Obligations under the terms of the Loan Documents (including any issuance or sale of Guarantor’s Stock or any sale of its assets), Guarantor shall distribute to the Borrower an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan Documents.

Appears in 2 contracts

Sources: Guaranty (Biodelivery Sciences International Inc), Guaranty (Biodelivery Sciences International Inc)

Funds Transfers. If any Guarantor receives cash proceeds as a result of shall engage in any transaction or event as a result of which Borrower is required to make a mandatory prepayment with respect to the Obligations Loans under the terms of the Loan Documents Credit Agreement (including any issuance or sale of such Guarantor’s 's Stock or any sale of its assets), such Guarantor shall distribute to, or make a contribution to the capital of, Borrower an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan DocumentsCredit Agreement.

Appears in 1 contract

Sources: Guaranty (Renaissance Cosmetics Inc /De/)

Funds Transfers. If any Guarantor receives cash proceeds as a result of shall engage in any transaction or event as a result of which a Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Loan Documents Agreement (including any issuance or sale of such Guarantor’s Stock or any sale of its assets), such Guarantor shall distribute to, or make a contribution to the capital of, such Borrower an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan DocumentsAgreement.

Appears in 1 contract

Sources: Holding Company Guaranty (Ensign Group, Inc)

Funds Transfers. If any Guarantor receives cash proceeds as a result of shall engage in any transaction or event --------------- as a result of which any Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Loan Documents Credit Agreement (including any issuance or sale of such Guarantor’s 's Stock or any sale of its assets), such Guarantor shall distribute to, or make a contribution to the Borrower capital of, one or more of the Borrowers an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan DocumentsCredit Agreement.

Appears in 1 contract

Sources: Guaranty (American Eco Corp)

Funds Transfers. If any Guarantor receives cash proceeds as a result of shall engage in any transaction or event as a result of which any Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Loan Documents Credit Agreement (including any issuance or sale of such Guarantor’s 's Stock or any sale of its assets), Guarantor such Guarantors shall distribute to, or make a contribution to the Borrower capital of one or more of the Borrowers an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan DocumentsCredit Agreement.

Appears in 1 contract

Sources: Guaranty (Coyne International Enterprises Corp)

Funds Transfers. If any Guarantor receives cash proceeds as a result of shall engage in any transaction or event as a result of which a Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Loan Documents Agreement (including including, as a result of any issuance or sale of such Guarantor’s Stock or Stock Equivalents or any sale of its assets), such Guarantor shall distribute to, or make a contribution to the Borrower capital of, the Borrowers an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan DocumentsAgreement.

Appears in 1 contract

Sources: Guaranty and Security Agreement (Talbots Inc)

Funds Transfers. If any Guarantor receives cash proceeds as a result of shall engage in any transaction or event as a result of which the Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Loan Documents this Agreement (including any issuance or sale of such Guarantor’s Capital Stock or any sale of its assets), such Guarantor shall distribute to, or make a contribution to the capital of, the Borrower an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan Documentsthis Agreement.

Appears in 1 contract

Sources: Senior Secured Credit Agreement (SOI Holdings, Inc.)

Funds Transfers. If any Guarantor receives cash proceeds as a result of shall engage in any transaction or event as a result of which any Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Loan Documents Credit Agreement (including any issuance or sale of such Guarantor’s Stock or any sale of its assets), such Guarantor shall distribute to, or make a contribution to the capital of, the Borrower an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan DocumentsCredit Agreement.

Appears in 1 contract

Sources: Credit Agreement (Curative Health Services Inc)

Funds Transfers. If any Guarantor receives cash proceeds as a result of shall engage in any transaction or event as a result of which Borrower is required to make a mandatory prepayment with respect to the Guaranteed Obligations under the terms of the Loan Documents Credit Agreement (including any issuance or sale of such Guarantor’s 's Stock or any sale of its assets), such Guarantor shall distribute to, or make a contribution to the capital of, Borrower an amount equal to such cash proceeds that are required to be applied to the mandatory prepayment required under the terms of the Loan DocumentsCredit Agreement.

Appears in 1 contract

Sources: Subsidiary Guaranty (Baldwin Piano & Organ Co /De/)