Net Cash Proceeds of Sale. In the event a Borrower or any Subsidiary of a Borrower receives, in any Fiscal Year, Net Cash Proceeds of Sale which, when aggregated with all other Net Cash Proceeds of Sale received by the Borrowers and Subsidiaries of the Borrowers in such Fiscal Year, exceed $2,500,000, such Borrower shall, immediately upon its or such Subsidiary's receipt of such Net Cash Proceeds of Sale, 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 of Sale until such time as the Revolving Credit Commitments are less than $60,000,000. Notwithstanding the foregoing, in the event such Net Cash Proceeds of Sale otherwise required to be applied as a mandatory prepayment of the Obligations are proceeds received from the sale, transfer, assignment or other disposition of assets of
Net Cash Proceeds of Sale. Immediately upon the receipt by any Borrower or Guarantor of any Net Cash Proceeds of Sale, the Borrowers 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 of Sale, subject to the reduction set forth in the definition of "Designated Prepayment".
Net Cash Proceeds of Sale. Immediately upon the receipt by the Borrower or any Subsidiary of the Borrower of any Net Cash Proceeds of Sale, 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 of Sale.
Net Cash Proceeds of Sale. 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 the Net Cash Proceeds of Sale received by the Borrower, RHI, or any of Borrower's Subsidiaries within (A) three (3) Business Days after such Person's receipt of the Net Cash Proceeds of Sale with respect to sales, assignments, or other dispositions of assets within the U.S. and (B) fourteen (14) days after such Person's receipt of Net Cash Proceeds of Sale with respect to sales, assignments, or other dispositions of assets outside of the U.S.
Net Cash Proceeds of Sale. Immediately upon the receipt by any Borrower or Guarantor of any Net Cash Proceeds of Sale, the Borrowers 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 of Sale. Notwithstanding the foregoing, upon the written request of TIMCO to the Agent, on the date of such receipt of Net Cash Proceeds of Sale, that the Borrowers be permitted to use certain of such Net Cash Proceeds of Sale for working capital purposes attendant to the operations of their respective businesses, in the ordinary course thereof, (A) the Borrowers shall be permitted to retain Net Cash Proceeds of Sale in an amount not to exceed $500,000 in the aggregate during the period commencing on the Effective Date and ending on the Revolving Credit Termination Date; provided that (I) such Net Cash Proceeds of Sale arise from a transaction permitted under Section 10.02 or otherwise consented to by the Requisite Lenders, (II) such written request includes a disclosure of the amount of Net Cash Proceeds of Sale received, the portion thereof which is subject to the request, and the aggregate amount of Net Cash Proceeds of Sale retained by the Borrowers for such purposes after giving effect to the then current request, (III) the Agent shall have received
Net Cash Proceeds of Sale. Subject to the terms and conditions of the Intercreditor Agreement, immediately (or, in the case of Net Cash Proceeds of Sale under Section 8.13(b), five (5) Business Days) after any Credit Party’s receipt of any Net Cash Proceeds of Sale, Borrower agrees to make or cause to be made a mandatory prepayment with all such Net Cash Proceeds of Sale of its Loans in an amount equal to one hundred percent (100%) of such Net Cash Proceeds of Sale, such amounts to be applied to the Obligations in accordance with Section 2.03(b)(iv); provided, that (1) if a Reinvestment Notice has been delivered to the Administrative Agent with respect to any such sale and no Default then exists, (A) such Net Cash Proceeds of Sale shall not be required to be so applied on such date to the extent such Net Cash Proceeds of Sale received from the Reinvestment Event relate to such Reinvestment Notice and (B) on each Reinvestment Prepayment Date an amount equal to the Reinvestment Prepayment Amount shall be applied toward prepayment as provided herein and (2) no such mandatory prepayment shall be required with Net Cash Proceeds of Sale of Second Lien Collateral to the extent that such Net Cash Proceeds of Sale are applied to permanently reduce the commitments under the Existing ABL Credit Agreement (with a corresponding prepayment) prior to the Reinvestment Prepayment Date. Each mandatory prepayment required to be paid toward the Obligations by Borrower by this Section 2.03(b)(ii) shall be allocated and applied first, to the repayment of the Loans; and second, to any remaining non-contingent Obligations of Borrower, in each case in accordance with the applicable provisions of Section 2.03(b)(iv).
Net Cash Proceeds of Sale. Within three (3) Business Days after receipt by either Borrower or any Subsidiary of a Borrower of any Net Cash Proceeds of Sale, the Borrowers 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 of Sale which, when combined with all other Net Cash Proceeds of Sale received in the same Fiscal Year, exceeds $150,000 in the aggregate; provided, however, that notwithstanding the foregoing, (A) one-third of the Net Cash Proceeds of Sale from the sale of Real Property of Adamx Xxxustries, Inc. located in Suffield, Connecticut shall be required to be remitted as a mandatory prepayment of the Obligations, (B) that portion of the Net Cash Proceeds of Sale from the sale of Real Property of Matrix Aviation, Inc. located in Wichita, Kansas which exceeds $150,000 shall be required to be remitted as a mandatory prepayment of the Obligations, and (C) no
Net Cash Proceeds of Sale. (A) The Borrower shall make or cause to be made a mandatory prepayment of the Obligations upon the Borrower's or any Subsidiary of the Borrower's receipt of Net Cash Proceeds of Sale in an amount equal to (1) one hundred percent (100%) of such Net Cash Pro- ceeds of Sale so received in the event, at the time of such receipt, the Consolidated Indebtedness to EBITDA Ratio is greater than 4.00 to 1.00, (2) seventy-five percent (75%) of such Net Cash Proceeds of Sale so received in the event, at the time of such receipt, the Consolidated Indebtedness to EBITDA Ratio is greater than 3.00 to 1.00, but less than or equal to 4.00 to 1.00, and (3) fifty percent (50%) of such Net Cash Proceeds of Sale so received in the event, at the time of such receipt, the Consolidated Indebtedness to EBITDA Ratio is less than or equal to 3.00 to 1.00.
Net Cash Proceeds of Sale. Upon receipt by any Borrower or any Subsidiary of a Borrower of any Net Cash Proceeds of Sale, including, without limitation receipt of cash proceeds in connection with forward sales contracts of Capital Stock, the Borrowers 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 of Sale which, when combined with all other Net Cash Proceeds of Sale received in the same Fiscal Year, exceeds $150,000 in the aggregate; provided, however, that notwithstanding the foregoing, (A) one-third of the Net Cash Proceeds of Sale from the sale of Real Property of Adamx Xxxustries, Inc. located in Suffield, Connecticut shall be required to be remitted as a mandatory prepayment of the Obligations, (B) that portion of the Net Cash Proceeds of Sale from the sale of Real Property of Matrix Aviation, Inc. located in Wichita, Kansas which exceeds $150,000 shall be required to be remitted as a mandatory prepayment of the Obligations, (C) no portion of the Net Cash Proceeds of Sale from the sale of Banner's Investment in Capital Stock, and warrants for Capital Stock, of Interactive Flight Technologies, Inc. shall be required to be remitted as a mandatory prepayment of the Obligations, and (D) any mandatory prepayment from Net Cash Proceeds of Sale arising from consummation of a Permitted Transaction shall be subject to the provisions of clause (viii) below.
Net Cash Proceeds of Sale. The Borrowers shall make or cause to be made a mandatory prepayment of the Obligations in an amount equal to one hundred percent (100%) of the Net Cash Proceeds of Sale received by any Borrower or any Subsidiary of a Borrower upon such Person's receipt thereof. Notwithstanding the foregoing, the first $10,000,000 of Net Cash Proceeds of Sale otherwise required to be applied as a mandatory prepayment of the Obligations received after the Effective Date may be used within three hundred sixty- five (365) days after receipt thereof by a Borrower or a Subsidiary of a Borrower to make Investments permitted by Section 10.04(m); provided that the Borrowers notify the Collateral Agent, in writing, of the intention to make such Investments and such Net Cash Proceeds of Sale are used to repay Revolving Loans or deposited with the Collateral Agent, as Cash Collateral, upon their receipt as aforesaid, subject to the Borrowers' right to request the return of such Cash Collateral to enable such Person(s) to make such Investments within such period. To the extent such Net Cash Proceeds of Sale are so used within such period, the same shall not be required to be applied as a mandatory prepayment of the Obligations and an amount equal to that portion of the Net Cash Proceeds of Sale not so used, shall be delivered to the Collateral Agent as a mandatory prepayment for application on the Obligations on the 366th day after receipt thereof.
