Common use of Mandatory Permanent Reduction Clause in Contracts

Mandatory Permanent Reduction. The Aggregate Commitment shall be permanently reduced by the following amounts: (i) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries from any issuance of Funded Debt (other than Funded Debt permitted pursuant to Section 10.1), (ii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection with any sale of assets (including its equity ownership in any Person) not permitted pursuant to Section 10.6 (a) through (e) unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are reinvested in similar assets (or otherwise in a manner acceptable to the Administrative Agent, in its sole discretion) within 270 days after receipt of such Net Cash Proceeds; provided, that this clause (ii) shall not apply with respect to up to $10,000,000 of the aggregate Net Cash Proceeds received by the Borrower and its Subsidiaries prior to the Conversion Date and (iii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries under any policy of insurance of such Person or in connection with any condemnation proceeding involving property of such Person, unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are utilized by the Borrower or such Subsidiary within one hundred eighty (180) days of receipt of such Net Cash Proceeds to replace or repair any of its assets damaged in connection with the related claim or proceeding.

Mandatory Permanent Reduction. The Aggregate Commitment shall be permanently reduced by the following amounts: (i) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries from any issuance of Funded Debt (other than Funded Debt permitted pursuant to Section 10.1), (ii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection with any sale of assets (including its equity ownership in any Person) not permitted pursuant to Section 10.6 (a) through (e) unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are reinvested in similar or replacement assets (or otherwise in a manner acceptable to the Administrative Agent, in its sole discretion) within 270 days after receipt of such Net Cash Proceeds; provided, that this clause (iii) shall not apply with respect to up to $10,000,000 of the aggregate Net Cash Proceeds received by the Borrower and its Subsidiaries prior to the Conversion Date July 22, 2009, and (iiiii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries under any policy of insurance of such Person or in connection with any condemnation proceeding involving property of such Person, unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are utilized by the Borrower or such Subsidiary within one hundred eighty (180) days of receipt of such Net Cash Proceeds to replace or repair any of its assets damaged in connection with the related claim or proceeding, such repair or replacement to be reasonably satisfactory to the Administrative Agent.

Mandatory Permanent Reduction. The Aggregate Commitment shall be permanently reduced by the following amounts: (i) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries from any issuance of Funded Debt (other than Funded Debt permitted pursuant to Section 10.1), (ii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection with any sale of assets (including its equity ownership in any Person) not permitted pursuant to Section 10.6 (a) through (e) unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are reinvested in similar or replacement assets (or otherwise in a manner acceptable to the Administrative Agent, in its sole discretion) within 270 days after receipt of such Net Cash Proceeds; provided, that this clause (iii) shall not apply with respect to up to $10,000,000 of the aggregate Net Cash Proceeds received by the Borrower and its Subsidiaries prior to the Conversion Date November, 21, 2006, and (iiiii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries under any policy of insurance of such Person or in connection with any condemnation proceeding involving property of such Person, unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are utilized by the Borrower or such Subsidiary within one hundred eighty (180) days of receipt of such Net Cash Proceeds to replace or repair any of its assets damaged in connection with the related claim or proceeding, such repair or replacement to be reasonably satisfactory to the Administrative Agent.

Mandatory Permanent Reduction. The Aggregate Commitment or Term-Out Amount shall be permanently reduced by the following amounts: (i) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries from any issuance of Funded Debt (other than Funded Debt permitted pursuant to Section 10.1), (ii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection with any sale of assets (including its equity ownership in any Person) not permitted pursuant to Section 10.6 (a) through (e) unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are reinvested in similar assets (or otherwise in a manner acceptable to the Administrative Agent, in its sole discretion) within 270 180 days after receipt of such Net Cash Proceeds; provided, that this clause (ii) shall not apply with respect to up to $10,000,000 5,000,000 of the aggregate Net Cash Proceeds received by the Borrower and its Subsidiaries prior to the Conversion Date and Revolving Credit Termination Date, (iii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries under any policy of insurance of such Person or in connection with any condemnation proceeding involving property of such Person, unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are utilized by the Borrower or such Subsidiary within one hundred eighty (180) days of receipt of such Net Cash Proceeds to replace or repair any of its assets damaged in connection with the related claim or proceedingproceeding and (iv) during the Term-Out Period only, 50% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries from any offering of equity securities.

Mandatory Permanent Reduction. The Aggregate Commitment shall be permanently reduced by the following amounts: : (i) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries from any issuance of Funded Debt (other than Funded Debt permitted pursuant to Section 10.1), ; (ii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries in connection with any sale of assets (including its equity ownership in any Person) not permitted pursuant to Section 10.6 (a) through (e) unless, with respect to any sale of assets consisting of property, plant or equipment of the Borrower or any of its Subsidiaries, and so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are reinvested in assets that are similar or complimentary to the assets sold (or otherwise in a manner acceptable to the Administrative AgentAgent and the Required Lenders, in its their sole discretion) within 270 two hundred seventy (270) days after receipt of such Net Cash Proceeds; provided, that this clause (ii) shall not apply with respect to (A) any asset sales permitted by Section 10.5(a) - (g), (B) up to an aggregate amount of $5,000,000 of the aggregate Net Cash Proceeds received by the Borrower and the Domestic Subsidiaries of the Borrower during the term of this Agreement pursuant to this clause (ii) and clause (iii) below and (C) up to an aggregate amount of $10,000,000 of the aggregate Net Cash Proceeds received by the Foreign Subsidiaries of the Borrower during the term of this Agreement pursuant to this clause (ii) and its Subsidiaries prior to the Conversion Date and clause (iii) below; (iii) 100% of the Net Cash Proceeds received by the Borrower or any of its Subsidiaries under any policy of insurance of such Person or in connection with any condemnation proceeding involving property of such Person, unless, so long as no Default or Event of Default has occurred and is continuing, such Net Cash Proceeds are utilized by the Borrower or such Subsidiary within one two hundred eighty seventy (180270) days of receipt of such Net Cash Proceeds to replace or repair any of its assets damaged in connection with the related claim or proceeding; provided, that this clause (iii) shall not apply with respect to (A) up to an aggregate amount of $5,000,000 of the aggregate Net Cash Proceeds received by the Borrower and the Domestic Subsidiaries of the Borrower during the term of this Agreement pursuant to this clause (iii) and clause (ii) above and (ii) up to an aggregate amount of $10,000,000 of the aggregate Net Cash Proceeds received by the Foreign Subsidiaries of the Borrower during the term of this Agreement pursuant to this clause (iii) and clause (ii) above; (iv) 100% of the Net Cash Proceeds received by the Borrower or any of its Domestic Subsidiaries from any offering of equity securities (other than offerings of equity securities made solely to the Borrower, any Subsidiary thereof or any Affiliate thereof).