Insufficiency of Proceeds Sample Clauses

Insufficiency of Proceeds. If the amounts received from the sale of the shares of TERG Common Stock (including the Pledged TERG Shares) pursuant to Section 2.7 are insufficient to repay the Debentures in full, Renova agrees to provide the remaining funds necessary to repay the Debentures in full with cash (R$). If Renova does not, or is unable to, repay the remaining portion of the Debentures in full on or before the date that is ten (10) calendar days after written notice from EMYC (or its Affiliates) to Renova, then EMYC and its Affiliates shall be permitted to repay the outstanding amount of Debentures on behalf of Renova and Renova shall reimburse EMYC and/or its applicable Affiliate for the amount of such payment as soon as practicable and in any event within fifteen (15) calendar days following written notice from EMYC (or its Affiliates) to Renova. The amount of any payment made by EMYC or its Affiliates pursuant to Section 2.7 shall accrue interest at a rate per annum equal to the CDI. To the extent that Renova does not reimburse EMYC and its Affiliates for such payment, EMYC and its Affiliates shall be entitled to set off any such payment (including any interest accrued thereon) against (a) any future obligations of EMYC and its Affiliates under the Phase I Agreements and (b) any amount required to be paid by EMYC or its Affiliates (i) pursuant to that certain Securities Swap Agreement, dated as of July 15, 2015 (as amended, supplemented or modified and in effect from time to time), by and among EMYC, Global, SunEdison and Renova, with respect to the “Backlog Project Companies” (the “Phase II Agreement”), (ii) pursuant to that certain Put/Call Agreement, dated as of July 15, 2015 (as amended, supplemented or modified and in effect from time to time), by and among EMYC, Global and Renova with respect to the “Put/Call Assets” (the “Put/Call Asset Agreement”) and (iii) pursuant to that certain Securities Purchase Agreement, dated as of July 15, 2015 (as amended, supplemented or modified and in effect from time to time), by and among Global, SunEdison and Renova, with respect to the “Espra Project Companies”. Notwithstanding the foregoing, EMYC shall not have the right to cause to be sold more than the number of shares of TERG Common Stock necessary to generate proceeds equal to the amount necessary to prepay the Debentures in full.
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Insufficiency of Proceeds. If Liquidation Proceeds are insufficient to cover the costs and expenses of the sale, disposition or other enforcement rights with respect to the Collateral and payment in full of all Obligations (applied in accordance with Section 11.12(c)), Borrower is liable for the deficiency. Nothing herein shall require Credit Agent or Lenders to look to all or any portion of the Collateral prior to, or in lieu of, pursuing any other right or remedy, any or all of which may be pursued in any order and at any time, including at the same time.
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Insufficiency of Proceeds. Nothing herein shall require the Lender to look to all or any portion of the Collateral prior to, or in lieu of, pursuing any other right or remedy, any or all of which may be pursued in any order and at any time, including at the same time.
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Insufficiency of Proceeds. If the proceeds realized from any sale, disposition or other enforcement rights with respect to the Collateral are insufficient to cover the costs and expenses of such sale, disposition or other enforcement rights with respect to the Collateral and payment in full of all Obligations, then Borrower shall be liable for the deficiency. Nothing herein shall require Administrative Agent or any Lender to look to all or any portion of the Collateral prior to, or in lieu of, pursuing any other right or remedy, any or all of which may be pursued in any order and at any time, including at the same time.
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Insufficiency of Proceeds. In the event that the Loan is not sufficient to pay all costs of the Project, the Borrower shall, nonetheless and irrespective of the cause of such deficiency, pay all costs of the Project in full from its own funds.
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Insufficiency of Proceeds. To deposit funds with the Bank as follows: If at any time or from time to time during the terms of this Agreement, in the Bank's judgment and opinion, the remaining undisbursed portion of the Project Fund, together with the undisbursed balances of other sums previously deposited by the Company with the Bank or the Trustee in connection with the renovation of the Existing Facility and construction of the New Facility, is or will be insufficient to fully complete renovation of the Existing Facility and construction of the New Facility and the acquisition and installation of the Equipment therein in accordance with the Plans and Specifications, to pay all other Project Facility Costs and to pay all other sums due or to become due under the Bank Documents, regardless of how such condition may be caused, the Company shall, within seven (7) days after written notice thereof from the Bank, deposit with the Bank or the Trustee such sums of money in cash as the Bank may require, in an amount sufficient to remedy such condition, and sufficient to pay any liens for services and materials alleged to be due and payable at that time in connection with the Project Facility, and, at the Bank's option, no further Advances shall be made by the Trustee until the provisions of this paragraph have been fully complied with. All such deposited sums shall stand as additional security for the Company's obligations under this Agreement and shall be disbursed in the same manner as Advances before any further Advances of the other proceeds shall be made. Neither the Bank nor the Trustee shall have any obligation to pay the Company any interest with respect to such deposited funds.
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Related to Insufficiency of Proceeds

  • Sufficiency of Funds Buyer has sufficient cash on hand or other sources of immediately available funds to enable it to make payment of the Purchase Price and consummate the transactions contemplated by this Agreement.

  • Collection of Proceeds 3.1 Debtor agrees to collect and enforce payment of all Collateral until Bank shall direct Debtor to the contrary. Immediately upon notice to Debtor by Bank and at all times after that, Debtor agrees to fully and promptly cooperate and assist Bank in the collection and enforcement of all Collateral and to hold in trust for Bank all payments received in connection with Collateral and from the sale, lease or other disposition of any Collateral, all rights by way of suretyship or guaranty and all rights in the nature of a lien or security interest which Debtor now or later has regarding Collateral. Immediately upon and after such notice, Debtor agrees to (a) endorse to Bank and immediately deliver to Bank all payments received on Collateral or from the sale, lease or other disposition of any Collateral or arising from any other rights or interests of Debtor in the Collateral, in the form received by Debtor without commingling with any other funds, and (b) immediately deliver to Bank all property in Debtor's possession or later coming into Debtor's possession through enforcement of Debtor's rights or interests in the Collateral. Debtor irrevocably authorizes Bank or any Bank employee or agent to endorse the name of Debtor upon any checks or other items which are received in payment for any Collateral, and to do any and all things necessary in order to reduce these items to money. Bank shall have no duty as to the collection or protection of Collateral or the proceeds of it, nor as to the preservation of any related rights, beyond the use of reasonable care in the custody and preservation of Collateral in the possession of Bank. Debtor agrees to take all steps necessary to preserve rights against prior parties with respect to the Collateral. Nothing in this Section 3.1 shall be deemed a consent by Bank to any sale, lease or other disposition of any Collateral.

  • Deposit of Proceeds Subject to Section 4(b), any interest, cash dividends or other cash distributions received in respect of any Investments and the net proceeds of any sale or payment of any Investments shall be promptly credited to, and held for the credit of the Reserve Account, and any distribution of property other than cash in respect of any Investment shall be credited to, and held for the credit of, the Reserve Account.

  • Allocation of Proceeds If an Event of Default shall exist and maturity of any of the Obligations has been accelerated, all payments received by the Agent under any of the Loan Documents, in respect of any principal of or interest on the Obligations or any other amounts payable by the Borrower hereunder or thereunder, shall be applied in the following order and priority:

  • Sufficiency of Assets Except as set forth in Part 3.6, the Assets (a) constitute all of the assets, tangible and intangible, of any nature whatsoever, necessary to operate Seller's business in the manner presently operated by Seller and (b) include all of the operating assets of Seller.

  • Payment of Proceeds Borrower shall forthwith upon receipt of all proceeds of Collateral, pay such proceeds (insurance or otherwise) over to Lender for application against the Obligations in such order and manner as Lender may elect.

  • Disbursement of Proceeds In the event Tenant is required to restore any Property pursuant to Section 10.2 and this Agreement is not terminated as to such Property pursuant to this Article 10, Tenant shall commence (or cause to be commenced) promptly and continue diligently to perform (or cause to be performed) the repair and restoration of such Property (hereinafter called the “Work”), so as to restore (or cause to be restored) the applicable Property in material compliance with all Legal Requirements and so that such Property shall be, to the extent practicable, substantially equivalent in value and general utility to its general utility and value immediately prior to such damage or destruction. Subject to the terms hereof, Landlord shall advance the insurance proceeds and any additional amounts payable by Landlord pursuant to Section 10.2.3 or otherwise deposited with Landlord to Tenant regularly during the repair and restoration period so as to permit payment for the cost of any such restoration and repair. Any such advances shall be made not more than monthly within ten (10) Business Days after Tenant submits to Landlord a written requisition and substantiation therefor on AIA Forms G702 and G703 (or on such other form or forms as may be reasonably acceptable to Landlord). Landlord may, at its option, condition advancement of such insurance proceeds and other amounts on (a) the absence of any Event of Default, (b) its approval of plans and specifications of an architect satisfactory to Landlord (which approval shall not be unreasonably withheld, delayed or conditioned), (c) general contractors’ estimates, (d) architect’s certificates, (e) conditional lien waivers of general contractors, if available, (f) evidence of approval by all governmental authorities and other regulatory bodies whose approval is required, (g), if Tenant has elected to advance deficiency funds pursuant to Section 10.2.3, Tenant depositing the amount thereof with Landlord and (h) such other certificates as Landlord may, from time to time, reasonably require. Landlord’s obligation to disburse insurance proceeds under this Article 10 shall be subject to the release of such proceeds by any Facility Mortgagee to Landlord. Tenant’s obligation to restore the applicable Property pursuant to this Article 10 shall be subject to the release of available insurance proceeds by the applicable Facility Mortgagee to Landlord or directly to Tenant and, in the event such proceeds are insufficient, Landlord electing to make such deficiency available therefor (and disbursement of such deficiency).

  • Distribution of Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Disposition of Proceeds The Security Documents contain an assignment by the Borrower and/or the Guarantors unto and in favor of the Collateral Agent for the benefit of the Lenders of all of the Borrower’s or each Guarantor’s interest in and to their as-extracted collateral in the form of production and all proceeds attributable thereto which may be produced from or allocated to the Mortgaged Property. The Security Documents further provide in general for the application of such proceeds to the satisfaction of the Obligations described therein and secured thereby. Notwithstanding the assignment contained in such Security Documents, until the occurrence of an Event of Default, (a) the Administrative Agent and the Lenders agree that they will neither notify the purchaser or purchasers of such production nor take any other action to cause such proceeds to be remitted to the Administrative Agent or the Lenders, but the Lenders will instead permit such proceeds to be paid to the Borrower and its Subsidiaries and (b) the Lenders hereby authorize the Administrative Agent to take such actions as may be necessary to cause such proceeds to be paid to the Borrower and/or such Subsidiaries.

  • Remittance of Proceeds Except as otherwise provided in Section 6.3(c), deliver, in kind, all proceeds arising from the disposition of any Collateral to Bank in the original form in which received by Borrower not later than the following Business Day after receipt by Borrower, to be applied to the Obligations (1) prior to an Event of Default, pursuant to the terms of Section 2.5(b) hereof, and (2) after the occurrence and during the continuance of an Event of Default, pursuant to the terms of Section 9.4 hereof; provided that, if no Event of Default has occurred and is continuing, Borrower shall not be obligated to remit to Bank the proceeds of the sale of surplus, worn out or obsolete Equipment disposed of by Borrower in good faith in an arm’s length transaction for an aggregate purchase price of Two Hundred Thousand Dollars ($200,000) or less (for all such transactions in any fiscal year). Borrower agrees that it will maintain all proceeds of Collateral in an account maintained with Bank. Nothing in this Section limits the restrictions on disposition of Collateral set forth elsewhere in this Agreement.

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