Common use of Net Cash Proceeds Clause in Contracts

Net Cash Proceeds. The Borrower shall, on the date of receipt by the Borrower or any other Loan Party of (A) 100% of the Net Cash Proceeds from the sale, lease, transfer or other disposition of any assets of the Borrower or any other Loan Party (including the sale by the Borrower or any other Loan Party of the capital stock of any of their respective Subsidiaries but excluding (1) sales of inventory in the ordinary course of business, (2) sales of damaged, worn or obsolete equipment to the extent the proceeds thereof are intended to be (and are) used to purchase replacements for such equipment within one year or sales of damaged, worn or obsolete equipment made after the purchase of replacements for such equipment, (3) sales of the Synthetic Lease Properties permitted under Section 6.02(d)(v) (provided, that any proceeds from such sales which are not used to purchase replacement properties or applied to repay Obligations under the Synthetic Lease shall not be excluded from the prepayment requirements of this section), and (4) sales, leases, transfers and other dispositions of assets other than those contemplated by clauses (1), (2) and (3) above, which are sold, leased, transferred or otherwise disposed of for amounts that do not exceed $2,500,000 in any Fiscal Year), (B) 100% of the Net Cash Proceeds from the incurrence or issuance by the Borrower or any of its Subsidiaries of any Debt not permitted under Section 6.02(b) (it being understood that the provisions of this Section 2.05(b)(iii) shall not be construed to permit the incurrence of Debt otherwise prohibited by Section 6.02(b)), including any refinancing of any Debt, (C) 50% of the Net Cash Proceeds from the sale or issuance by the Borrower or any of its Subsidiaries of any Equity Interests (including receipt of any capital contribution), and (D) 100% of the Net Cash Proceeds of any Extraordinary Receipt received by or paid to or for the account of the Borrower or any of its Subsidiaries and not otherwise included in clause (A), (B) or (C) above, prepay outstanding Advances as provided in Section 2.05(c), except that, in the case of sales of assets contemplated by clause (4) above, the amount of such Net Cash Proceeds in excess of $2,500,000 in any Fiscal Year shall be so applied unless such Net Cash Proceeds are intended to be (and are) used to purchase assets useful to the business of the Borrower or any of its Subsidiaries within one year.

Net Cash Proceeds. The Borrower shall, on the date of ----------------- receipt by NGP, the Borrower or any other Loan Party Subsidiary of (A) 100% NGP or the Borrower of the Net Cash Proceeds from from (a) the sale, lease, transfer or other disposition of any assets of NGP, the Borrower or any other Loan Party such Subsidiaries (including the sale by NGP, the Borrower or any other Loan Party such Subsidiaries of the capital stock of any of their respective Subsidiaries but excluding (1) sales any leases of inventory golf courses and related assets to Golf Course Operators in the ordinary course of business, (2) sales of damaged, worn or obsolete equipment to the extent the proceeds thereof are intended to be (and are) used to purchase replacements for such equipment within one year 180 days or sales of damaged, worn or obsolete equipment made after the purchase of replacements for such equipment, and (3) sales of the Synthetic Lease Properties permitted under Section 6.02(d)(v) (provided, that any proceeds from such sales which are not used to purchase replacement properties or applied to repay Obligations under the Synthetic Lease shall not be excluded from the prepayment requirements of this section), and (4) sales, leases, transfers and other dispositions of assets assets, or a series of sales, transfers and other than those contemplated by clauses (1), (2) and (3) abovedispositions of related assets, which are sold, leased, transferred or otherwise disposed of for amounts an amount, or an aggregate amount, less than $5,000,000 (excluding the value of any Section 1031 Transaction), except to the extent that do not exceed $2,500,000 the aggregate of all such ------ sales, transfers, and other dispositions in any Fiscal Yearfiscal year exceeds $10,000,000 (excluding the value of any Section 1031 Transaction), ) and (B) 100% of the Net Cash Proceeds from the incurrence or issuance by NGP, the Borrower or any of its such Subsidiaries of any Debt not permitted under Section 6.02(b) (it being understood that the provisions of this Section 2.05(b)(iii2.05(b)(ii) shall not be construed to permit the incurrence of Debt otherwise prohibited by Section 6.02(b)), including any refinancing of any Debt, (C) 50% prepay an aggregate principal amount of the Net Cash Proceeds from the sale or issuance by the Borrower or any of its Subsidiaries of any Equity Interests (including receipt of any capital contribution), and (D) Advances equal to 100% of the Net Cash Proceeds of any Extraordinary Receipt received by or paid to or for the account of the Borrower or any of its Subsidiaries and not otherwise included in clause (A), (B) or (C) above, prepay outstanding Advances as provided in Section 2.05(c), except that, in the case of sales of assets contemplated by clause (4) above, the amount of such Net Cash Proceeds in excess of $2,500,000 in any Fiscal Year Proceeds. Each such prepayment shall be so applied unless such Net Cash Proceeds are intended to be (and are) used to purchase assets useful ratably to the business of the Borrower or any of its Subsidiaries within one yearRevolving Advances and L/C Advances as set forth in Section 2.05(b)(iv).

Net Cash Proceeds. The Borrower shall, on the date of ----------------- receipt by the Borrower or any other Loan Party of (A) 100% of the Net Cash Proceeds from (A) the sale, lease, transfer or other disposition of any assets of the Borrower or any other Loan Party (including the sale by the Borrower or any other Loan Party of the capital stock of any of their respective Subsidiaries but excluding (1) sales of inventory in the ordinary course of business, (2) sales of damaged, worn or obsolete equipment to the extent the proceeds thereof are intended to be (and are) used to purchase replacements for such equipment within one year 180 days or sales of damaged, worn or obsolete equipment made after the purchase of replacements for such equipment, (3) sales of the Synthetic Lease Properties permitted under Section 6.02(d)(v) (provided, that any proceeds from such sales which are not used to purchase replacement properties or applied to repay Obligations under the Synthetic Lease shall not be excluded from the prepayment requirements of this section), and (4) sales, leases, transfers and other dispositions of assets other than those contemplated by clauses (1), (2) and (3) above, which are sold, leased, transferred or otherwise disposed of for amounts that do not exceed $2,500,000 in any Fiscal Year), (B) 100% of the Net Cash Proceeds from the incurrence or issuance by the Borrower or any of its Subsidiaries of any Debt not permitted under Section 6.02(b) (it being understood that the provisions of this Section 2.05(b)(iii) shall not be construed to permit the incurrence of Debt otherwise prohibited by Section 6.02(b)), including any refinancing of any DebtDebt (other than the Existing Credit Agreement which is being refinanced with proceeds of the initial Borrowing), (C) 50% of the Net Cash Proceeds from the sale or issuance by the Borrower or any of its Subsidiaries of any Equity Interests (including receipt of any capital contribution), and (D) 100% of the Net Cash Proceeds of any Extraordinary Receipt received by or paid to or for the account of the Borrower or any of its Subsidiaries and not otherwise included in clause (A), (B) or (C) above, prepay outstanding Advances as provided in Section 2.05(c), except that, in the case of sales of assets contemplated by clause (4) above, the amount of such Net Cash Proceeds in excess of $2,500,000 in any Fiscal Year shall be so applied unless such Net Cash Proceeds are intended to be (and are) used to purchase assets useful to the business of the Borrower or any of its Subsidiaries within one yearapplied.

Net Cash Proceeds. The Borrower shall, on the date of ----------------- receipt by the Borrower or any other Loan Party of (A) 100% its Subsidiaries of the Net Cash Proceeds from (A) the sale, lease, transfer or other disposition of any assets of the Borrower or any other Loan Party of its Subsidiaries (including the sale by the Borrower or any other Loan Party of its Subsidiaries of the capital stock of any of their respective Subsidiaries but excluding (1) sales of inventory in the ordinary course of business, (2) sales of damaged, worn or obsolete equipment to the extent the proceeds thereof are intended to be (and are) used to purchase replacements for such equipment within one year 180 days or sales of damaged, worn or obsolete equipment made after the purchase of replacements for such equipment, and (3) sales of the Synthetic Lease Properties permitted under Section 6.02(d)(v) (provided, that any proceeds from such sales which are not used to purchase replacement properties or applied to repay Obligations under the Synthetic Lease shall not be excluded from the prepayment requirements of this section), and (4) sales, leases, transfers and other dispositions of assets assets, or a series of sales, leases, transfers and other than those contemplated by clauses (1), (2) and (3) abovedispositions of related assets, which are sold, leased, transferred or otherwise disposed of for amounts an amount, or an aggregate amount, less than $500,000, except to ------ the extent that do not exceed $2,500,000 the aggregate of all such sales, leases, transfers, and other dispositions in any Fiscal Yearfiscal year exceeds $5,000,000), (B) 100% of the Net Cash Proceeds from the incurrence or issuance by the Borrower or any of its Subsidiaries of any Debt not permitted under Section 6.02(b) (it being understood that the provisions of this Section 2.05(b)(iii) shall not be construed to permit the incurrence of Debt otherwise prohibited by Section 6.02(b)), including any refinancing of any Debt, ) and (C) 50% of the Net Cash Proceeds from the sale or issuance by the Borrower or any of its Subsidiaries of any Equity Interests capital stock (including receipt of any capital contribution), and (D) 100% of the Net Cash Proceeds of any Extraordinary Receipt received by or paid to or for the account other than common stock of the Borrower issued to Casino upon conversion of the Casino Note), any securities convertible into or exchangeable for capital stock or any of its Subsidiaries and not otherwise included in clause (A)warrants, (B) rights or (C) aboveoptions to acquire capital stock, prepay an aggregate principal amount of the outstanding Revolving Advances as provided in Section 2.05(c), except that, in the case of sales of assets contemplated by clause (4) above, equal to the amount of such Net Cash Proceeds in excess accordance with the provisions of $2,500,000 in any Fiscal Year shall be so applied unless such Net Cash Proceeds are intended to be (and are) used to purchase assets useful to the business of the Borrower or any of its Subsidiaries within one yearSection 2.09(a).