Net Asset Sale Proceeds. Within three Banking Days after the receipt by the Company and its Subsidiaries of Net Asset Sale Proceeds, the Borrower shall pay to the Agent as a prepayment of the Loan to be applied as provided in Section 4.6.2 the lesser of (a) the amount of such Net Asset Sale Proceeds or (b) the amount of the Loan.
Appears in 2 contracts
Samples: Credit Agreement (Racing Champions Corp), Credit Agreement (Racing Champions Corp)
Net Asset Sale Proceeds. Within three Banking Days after the Upon receipt by the Company and its Subsidiaries of Net Asset Sale ProceedsProceeds by the Company or any of its Subsidiaries, the Borrower Borrowers shall within three Banking Days pay to the Agent as a prepayment of the Loan to be applied as provided in Section 4.6.2 4.5.2 the lesser of (a) the amount of such Net Asset Sale Proceeds or (b) the amount of the Loan.
Appears in 1 contract
Samples: Credit Agreement (Marquee Group Inc)
Net Asset Sale Proceeds. Within three Banking Days after the Upon receipt by the Company and or any of its Subsidiaries of Net Asset Sale Proceeds, the Borrower Company shall within three Banking Days pay to the Managing Agent as a prepayment of the Loan to be applied as provided in Section 4.6.2 the lesser of (a) the amount of such Net Asset Sale Proceeds or (b) the amount of the Loan.in
Appears in 1 contract
Net Asset Sale Proceeds. Within three Banking Days after the Upon receipt by the Company and its Subsidiaries of Net Asset Sale ProceedsProceeds by the Company, any of its Subsidiaries or any Restricted Affiliates, the Borrower Company shall within three Banking Days pay to the Agent as a prepayment of the Loan to be applied as provided in Section 4.6.2 the lesser of of: (a) the amount of such Net Asset Sale Proceeds or (b) the amount of the Loan.; provided, however, that Net Asset Sale Proceeds constituting part of a Reinvestment Reserve are not required to be applied to repay the Loan. 61 63
Appears in 1 contract
Samples: Credit Agreement (Element K Corp)
