Involuntary Dispositions. Promptly following the occurrence of an Involuntary Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Excess Proceeds (such prepayment to be applied as set forth in clause (vii) below).
Involuntary Dispositions. Immediately upon the occurrence of an Involuntary Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Excess Proceeds (such prepayment to be applied as set forth in clause (vi) below).
Involuntary Dispositions. The Borrower shall prepay the Term Loans as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds received by any Loan Party or any Subsidiary from all Involuntary Dispositions within thirty (30) days of the date of such Involuntary Disposition; provided, however, that so long as no Default shall have occurred and be continuing, such Net Cash Proceeds shall not be required to be so applied at the election of the Borrower (as notified by the Borrower to the Lender) to the extent such Loan Party or such Subsidiary reinvests all or any portion of such Net Cash Proceeds in assets used or useful in the Borrower’s business (but specifically excluding current assets as classified by GAAP) within one hundred eighty (180) days after the receipt of such Net Cash Proceeds; provided that any such Net Cash Proceeds that have not been so reinvested shall be immediately applied to prepay the Term Loans.
Involuntary Dispositions. The Borrowers shall prepay the Term Loan no later than the fifth Business Day following receipt of Net Cash Proceeds, in an amount equal to 100% of the Net Cash Proceeds received from any Involuntary Disposition, provided, that so long as no Default or Event of Default shall have occurred and be continuing, the Borrowers shall have the option to invest up to $10,000,000 of the Net Cash Proceeds received from any Involuntary Disposition within 180 days of receipt thereof in assets of the type involved in such Involuntary Disposition or otherwise used in the business of the Parent and its consolidated Subsidiaries or such greater amount as is approved by the Lender in its sole discretion. In the event that such Net Cash Proceeds are not reinvested by the Borrowers prior to the earlier of (A) the last day of such 180-day period and (B) the date of the occurrence of an Event of Default, the Borrowers shall prepay the Term Loan in an amount equal to 100% of such Net Cash Proceeds.
Involuntary Dispositions. Each Borrower agrees to prepay the Loans and Cash Collateralize the L/C Obligations made to or issued for the account of such Borrower as hereafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds of all Involuntary Dispositions to the extent (a) such Net Cash Proceeds are not reinvested in the same or similar Property within 180 days of the date of such Disposition and (b) the aggregate amount of such Net Cash Proceeds not reinvested in accordance with the foregoing clause (a) shall exceed $2,500,000 in any fiscal year. Such prepayment shall be due immediately upon the expiration of the 180 day period set forth in clause (a) (to the extent such prepayment exceeds the threshold in clause (B)) and shall be applied as set forth in clause (iii) below.
Involuntary Dispositions. Not later than the second Business Day following the date of any Involuntary Disposition Prepayment Event, the Borrower shall prepay the Tranche B Term Loan in an aggregate amount equal to 100% of the Excess Proceeds of the related Involuntary Disposition (such prepayment to be applied as set forth in clause (iv) below).
Involuntary Dispositions. In the event an Involuntary Disposition Prepayment Event occurs, the Borrower shall, not later than the Applicable Prepayment Date, prepay the Tranche B Term Loan, the outstanding Revolving Loans and prepay or purchase (and concurrently retire) other Prepayable Indebtedness of the Borrower and its Subsidiaries (or, to the extent permitted by clause (iii)(A) below, make contributions to underfunded Pension Plans) in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Involuntary Disposition not applied (or caused to be applied) by the Loan Parties during the related Application Period to make Eligible Reinvestments (such prepayment to be applied as set forth in clauses (iii)(A) and (iii)(C) below). Notwithstanding the foregoing, the Borrower shall not be required to make any prepayment under this Section 2.05(b)(ii)(B) if the Consolidated Total Leverage Ratio as of the most recent fiscal quarter end prior to such Disposition Prepayment Event with respect to which the Administrative Agent has received the Required Financial Information was equal to or less than 4.00 to 1.00 (calculated as of such date on a Pro Forma Basis after giving effect to the applicable Disposition and any required prepayment pursuant to this Section 2.05(b)(ii)(B) (it being understood that the Borrower shall be deemed to have satisfied its obligations under this Section 2.05(b)(ii)(B) in respect of any Involuntary Disposition Prepayment Event at such time as it has applied Net Cash Proceeds to the repayment of outstanding Loans or the prepayment or purchase (and concurrent retirement) of other Prepayable Indebtedness in an amount sufficient to cause the Consolidated Total Leverage Ratio, calculated on a Pro Forma Basis giving effect to such Disposition and prepayments or purchases, to be equal to or less than 4.00 to 1.00 (it being understood that pending such application of Net Cash Proceeds to the prepayment or purchase (and concurrent retirement) of other Prepayable Indebtedness, the Borrower may (x) deposit such Net Cash Proceeds in a deposit account of the Borrower maintained with a Lender or an Affiliate of BlackRock, Inc. or (y) temporarily reduce Permitted Receivables Financings or repay Revolving Loans, in each case, pending the final application thereof to a prepayment or purchase (and concurrent retirement) of other Prepayable Indebtedness in accordance with the definition of “Applicable Prepayment Date”)).
Involuntary Dispositions. The Borrower shall prepay the Loans as hereinafter provided in an aggregate amount equal to the cash proceeds received by the Borrower from all Involuntary Dispositions, including insurance proceeds, within 30 days of the date of such Involuntary Disposition if cash proceeds received by the Borrower as a result of Involuntary Dispositions exceed in the aggregate $500,000.
Involuntary Dispositions. Immediately upon the occurrence of an Involuntary Disposition Prepayment Event, the Borrower shall prepay the Loans and/or cash collateralize the LOC Obligations in an aggregate amount equal to 100% of the Excess Proceeds (such prepayment to be applied as set forth in clause (vii) below).
Involuntary Dispositions. Immediately upon the failure of the Loan Parties to apply the full amount equal to the Net Cash Proceeds of any Involuntary Disposition in the manner required by Section 7.07(b), the Borrower shall prepay the Loans in an aggregate amount equal to 100% of such Net Cash Proceeds that were not so applied;
