Common use of Prepayment Triggered by Asset Sale Clause in Contracts

Prepayment Triggered by Asset Sale. In the event that the Company shall receive net cash proceeds from an Asset Sale ("Asset Sale Proceeds"), the Company shall prepay an aggregate principal amount of Notes, which, after addition of any accrued and unpaid interest thereon to the date of prepayment, is equal to the amount of the Asset Sale Proceeds not more than 30 calendar days after such receipt unless, within 30 days of receipt of such Asset Sale Proceeds, such Asset Sale Proceeds are used to repay the Wells Indxxxxxness.

Appears in 2 contracts

Samples: Subordination Agreement (Right Start Inc /Ca), Subordination Agreement (Right Start Inc /Ca)

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Prepayment Triggered by Asset Sale. In the event that the Company shall receive net cash proceeds from an Asset Sale ("Asset Sale Proceeds"), the Company shall prepay an aggregate principal amount of Notesthe Note, which, after addition of any accrued and unpaid interest thereon to the date of prepayment, is equal to the amount of the Asset Sale Proceeds not more than 30 calendar days after such receipt unless, within 30 days of receipt of such Asset Sale Proceeds, such Asset Sale Proceeds are used to repay the Wells Indxxxxxnessreceipt.

Appears in 1 contract

Samples: Subordination Agreement (Right Start Inc /Ca)

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Prepayment Triggered by Asset Sale. In the event that the Company shall receive net cash proceeds from an Asset Sale ("Asset Sale Proceeds"), the Company shall shall, within 30 calendar days after such receipt, prepay an aggregate principal amount of Notes, which, after addition of together with any accrued and unpaid interest thereon to the date of prepayment, is equal to the amount of the Asset Sale Proceeds not more than 30 calendar days after such receipt unless, within 30 days of receipt of such Asset Sale Proceeds, less any such Asset Sale Proceeds which are used to repay the Wells IndxxxxxnessXxxxx Indebtedness or indebtedness under the QFS Note.

Appears in 1 contract

Samples: Subordination Agreement (Fao Inc)

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