Common use of Mandatory Prepayments of Term Loans Clause in Contracts

Mandatory Prepayments of Term Loans. (a) Within one-hundred and eighty (180) days after the Borrower's or any Restricted Subsidiary's receipt of any Net Cash Proceeds from any Asset Sale (other than Excluded Asset Sales) which when aggregated with the Net Cash Proceeds from other Asset Sales (other than Excluded Asset Sales) consummated during the preceding twelve-month period are greater than $500,000, the Borrower shall make or cause to be made a mandatory prepayment of the Obligations in an amount equal to one hundred percent (100%) of such Net Cash Proceeds in excess of $500,000 for such twelve-month period; provided, however, that the Net Cash Proceeds which the Borrower or such Restricted Subsidiary shall, within one-hundred and eighty (180) days of the receipt thereof, use to acquire assets of a like nature to those sold in such Asset Sale in replacement thereof shall not be included in determining the Net Cash Proceeds for such Fiscal Year. Notwithstanding the foregoing, during the existence of a Default, if the Borrower or any Subsidiary shall consummate any Asset Sale (other than an Excluded Asset Sale) in which the sale price exceeds $100,000, or shall not have so reinvested proceeds of any such Asset Sale consummated prior to the occurrence of such a Default, then the Borrower shall immediately make or cause to be made a mandatory prepayment in an amount equal to 100% of such Net Cash Proceeds.

Mandatory Prepayments of Term Loans. (a) Within oneUpon the consummation of any Asset Sale or Financing by the Borrower or any Subsidiary of the Borrower, other than those Asset Sales permitted pursuant to SECTION 7.3(B)(i), (ii) and (iii), except to the extent that the Net Cash Proceeds of such Asset Sale, when combined with the Net Cash Proceeds of all such Asset Sales during the immediately preceding twelve-hundred month period, do not exceed $5,000,000 or the Approximate Equivalent Amount of any Agreed Currency other than Dollars, and eighty except as provided in the second sentence of this SECTION 2.5(B)(i)(a), within three (1803) days Business Days after the Borrower's or any Restricted Subsidiary's of its Subsidiaries' (i) receipt of any Net Cash Proceeds from any such Asset Sale or Financing, or (other than Excluded ii) conversion to cash or Cash Equivalents of non-cash proceeds (whether principal or interest and including securities, release of escrow arrangements or lease payments) received from any Asset Sales) which when aggregated with the Net Cash Proceeds from other Asset Sales (other than Excluded Asset Sales) consummated during the preceding twelve-month period are greater than $500,000Sale or Financing, the Borrower shall make or cause to be made a mandatory prepayment of the Obligations in an amount equal to one hundred percent (100%) of such Net Cash Proceeds in excess of $500,000 for or such twelveproceeds converted from non-month period; provided, however, that the cash to cash or Cash Equivalents. Net Cash Proceeds of Asset Sales with respect to which the Borrower or such Restricted Subsidiary shallshall have given the Agent written notice of its intention to replace the assets within six (6) months, within one-hundred and eighty (180) days of in the receipt thereof, use to acquire assets case of a like nature to those sold sale of Equipment, or twelve (12) months, in the case of a sale of real property, following such Asset Sale in replacement thereof shall not be included in determining the Net Cash Proceeds for such Fiscal Year. Notwithstanding the foregoing, during the existence of a Default, if the Borrower or any Subsidiary shall consummate any Asset Sale (other than an Excluded Asset Sale) in which the sale price exceeds $100,000, or shall not have so reinvested proceeds of any such Asset Sale consummated prior subject to the occurrence provisions of the first sentence of this SECTION 2.5(B)(i)(a) unless and to the extent that such a Default, then the Borrower applicable period shall immediately make or cause to be made a mandatory prepayment in an amount equal to 100% of have expired without such Net Cash Proceedsreplacement having been made.

Mandatory Prepayments of Term Loans. (a) Within one-Upon the consummation of any Asset Sale by Holdings, the Borrower or any Subsidiary of Borrower (other than the Permitted Inventory and Equipment Sales and the sale of the Borrower's real property located in Fresno County, California) the Net Cash Proceeds of which are greater than $500,000, within (A) one hundred and eighty (180) days in the case of an Asset Sale described in clause(y) below, and (B) three (3) Business Days in the case of an Asset Sale described in clause (z) below, after Holdings', the Borrower's or any Restricted Subsidiary's of its Subsidiaries' (i) receipt of any Net Cash Proceeds from any such Asset Sale Sale, or (other than Excluded ii) conversion to cash or Cash Equivalents of non-cash proceeds (whether principal or interest and including securities, release of escrow arrangements or lease payments) received from any Asset Sales) which when aggregated with the Net Cash Proceeds from other Asset Sales (other than Excluded Asset Sales) consummated during the preceding twelve-month period are greater than $500,000Sale, the Borrower shall make or cause to be made a mandatory prepayment of the Obligations in an amount equal to (y) one hundred percent (100%) of such Net Cash Proceeds or such proceeds converted from non-cash to cash or Cash Equivalents in excess the case of $500,000 for such twelve-month periodAsset Sales other than in connection with the issuance of Capital Stock; provided, however, that the such Net Cash Proceeds which Holdings, the Borrower or such Restricted Subsidiary shall, within one-one hundred and eighty (180) days of after the receipt thereof, use to acquire assets of a like nature to those sold in such Asset Sale in replacement thereof shall not be included in determining required to be prepaid pursuant to the Net Cash Proceeds for such Fiscal Year. Notwithstanding terms of this Section 2.5(B)(i)(a), provided, further, however, that notwithstanding the foregoing, during the existence of a DefaultDefault under Section 7.1(a), if Holdings, the Borrower or any Subsidiary shall consummate any Asset Sale (other than an Excluded Asset Sale) in which the sale price exceeds $100,000, or shall not have so reinvested proceeds of any such Asset Sale consummated prior to the occurrence of such a Default50,000, then the Borrower shall shall, immediately upon receipt, make or cause to be made a mandatory prepayment in an amount equal to 100% of such Net Cash ProceedsProceeds and (z) seventy-five percent (75%) of such Net Cash Proceeds or such proceeds converted from non-cash to cash or Cash Equivalents in the case of Asset Sales consisting of the issuance of Capital Stock.

Mandatory Prepayments of Term Loans. (a) Within oneUpon the consummation of any Asset Sale by the Borrower or any Subsidiary of the Borrower or the receipt by the Borrower or any Subsidiary of proceeds from any condemnation proceeding or from insurance in connection with any loss, except to the extent that the Net Cash Proceeds of such Asset Sale or other such proceeds, when combined with the Net Cash Proceeds of all such Asset Sales or other such proceeds during the immediately preceding twelve-hundred month period, do not exceed $1,000,000 or the Approximate Equivalent amount of any Agreed Currency other than Dollars, and eighty except as provided in the second sentence of this Section 2.5(B)(i)(a), within three (1803) days Business Days after the Borrower's or any Restricted Subsidiary's of its Subsidiaries' (i) receipt of any Net Cash Proceeds from any such Asset Sale or other such proceeds, or (other than Excluded ii) conversion to cash or Cash Equivalents of non-cash proceeds (whether principal or interest and including securities, release of escrow arrangements or lease payments) received from any Asset Sales) which when aggregated with the Net Cash Proceeds from other Asset Sales (other than Excluded Asset Sales) consummated during the preceding twelve-month period are greater than $500,000Sale, the Borrower shall make or cause to be made a mandatory prepayment of the Obligations in an amount equal to one hundred percent (100%) of such Net Cash Proceeds in excess of $500,000 for or other such twelveproceeds or such proceeds converted from non-month period; provided, however, that the cash to cash or Cash Equivalents. Net Cash Proceeds of Asset Sales with respect to which the Borrower or such Restricted Subsidiary shall, shall have given the Agent written notice within one-hundred and eighty thirty (18030) days of the receipt thereof, use to acquire assets of a like nature to those sold in Business Days after such Asset Sale in replacement thereof of its intention to replace the assets within six (6) months following such Asset Sale shall not be included in determining the Net Cash Proceeds for such Fiscal Year. Notwithstanding the foregoing, during the existence of a Default, if the Borrower or any Subsidiary shall consummate any Asset Sale (other than an Excluded Asset Sale) in which the sale price exceeds $100,000, or shall not have so reinvested proceeds of any such Asset Sale consummated prior subject to the occurrence provisions of the first sentence of this Section 2.5(B)(i)(a) unless and to the extent that such a Default, then the Borrower applicable period shall immediately make or cause to be made a mandatory prepayment in an amount equal to 100% of have expired without such Net Cash Proceedsreplacement having been made.