Common use of Prepayments and Reductions from Asset Sales Clause in Contracts

Prepayments and Reductions from Asset Sales. No later than the second Business Day following the date of receipt by Borrower of Cash Proceeds of any Asset Sale, Borrower shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), Loans in an amount equal to the Net Cash Proceeds of such Asset Sale. Concurrently with any prepayment of the Loans pursuant to this subsection 2.4C(ii)(a), Borrower shall deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the Net Cash Proceeds of the correlative Asset Sale from the gross sales price thereof. In the event that Borrower shall, at any time after receipt of Cash Proceeds of any Asset Sale requiring a prepayment pursuant to this subsection 2.4C(ii)(a), determine that the prepayments previously made in respect of such Asset Sale were in an aggregate amount less than that required by the terms of this subsection 2.4C(ii)(a), Borrower shall promptly make an additional prepayment of the Loans, as the case may be, in the manner described above in an amount equal to the amount of any such deficit, and Borrower shall concurrently therewith deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the additional Net Cash Proceeds resulting in such deficit. Any mandatory prepayments pursuant to this subsection 2.4C(ii)(a) shall be applied as specified in subsection 2.4C(iii).

Prepayments and Reductions from Asset Sales. No later than the second Business Day following the date of receipt by Borrower of Cash Proceeds of any Asset Sale, Borrower shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), Loans in an amount equal to the Net Cash Proceeds of such Asset Sale. Concurrently with any prepayment of the Loans pursuant to this subsection 2.4C(ii)(a), Borrower shall deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the Net Cash Proceeds of the correlative Asset Sale from the gross sales price thereof. In the event that Borrower shall, at any time after receipt of Cash Proceeds of any Asset Sale requiring a prepayment pursuant to this subsection 2.4C(ii)(a), determine that the prepayments previously made in respect of such Asset Sale were in an aggregate amount less than that required by the terms of this subsection 2.4C(ii)(a), Borrower shall promptly make an additional prepayment of the Loans, as the case may be, in the manner described above in an amount equal to the amount of any such deficit, and Borrower shall concurrently therewith deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the additional Net Cash Proceeds resulting in such deficit. Any mandatory prepayments pursuant to this subsection 2.4C(ii)(a) shall be applied as specified in subsection 2.4C(iii).

Prepayments and Reductions from Asset Sales. No later than ------------------------------------------- the second Business Day following the date of receipt by Borrower Company or any of its Subsidiaries of the Net Cash Proceeds of any Asset Sale, Borrower Company shall prepay, without premium or penalty prepay the Loans (other than pursuant to subsection 2.6D), Loans and/or the Revolving Loan Commitments shall be reduced) in an aggregate amount equal to the 100% of such Net Cash Proceeds of such Asset SaleProceeds. Concurrently with any prepayment of the Loans and/or reduction of the Commitments pursuant to this subsection 2.4C(ii)(a2.4B(iii)(a), Borrower Company shall deliver to Administrative Agent an Officers' Officer's Certificate demonstrating the derivation of the Net Cash Proceeds of the correlative Asset Sale from the gross sales price thereof. In the event that Borrower Company shall, at any time after receipt of Net Cash Proceeds of any Asset Sale requiring a prepayment or a reduction of the Revolving Loan Commitments pursuant to this subsection 2.4C(ii)(a2.4B(iii)(a), determine that the prepayments and/or reductions of the Revolving Loan Commitments previously made in respect of such Asset Sale were in an aggregate amount less than that required by the terms of this subsection 2.4C(ii)(a2.4B(iii)(a), Borrower Company shall promptly make cause to be made an additional prepayment of the Loans, as the case may be, Loans (and/or reduction in the manner described above Revolving Loan Commitments) in an amount equal to the amount of any such deficit, and Borrower Company shall concurrently therewith deliver to Administrative Agent an Officers' Officer's Certificate demonstrating the derivation of the additional Net Cash Proceeds resulting in such deficit. Any mandatory prepayments pursuant to this subsection 2.4C(ii)(a) shall be applied as specified in subsection 2.4C(iii).

Prepayments and Reductions from Asset Sales. No later than On the second same Business Day following the date a Credit Party or any of receipt by Borrower of its Subsidiaries receives Cash Proceeds of any Asset Sale, Borrower Company shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), prepay the Revolving Loans and the Revolving Loan Commitments shall be permanently reduced in an amount equal to the Net Cash Proceeds of such Asset Sale. Concurrently with any prepayment of the Loans and the reduction of the Revolving Loan Commitments pursuant to this subsection 2.4C(ii)(a2.4B(iii)(a), Borrower Company shall deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the Net Cash Proceeds of the correlative Asset Sale from the gross sales price thereof. In the event that Borrower Company shall, at any time after receipt of Cash Proceeds of any Asset Sale requiring a prepayment and a reduction of the Revolving Loan Commitments pursuant to this subsection 2.4C(ii)(a2.4B(iii)(a), determine that the prepayments and the reductions of the Revolving Loan Commitments previously made in respect of such Asset Sale were in an aggregate amount less than that required by the terms of this subsection 2.4C(ii)(a2.4B(iii)(a), Borrower Company shall promptly make an additional prepayment of the Loans, as Revolving Loans (and the case may beRevolving Loan Commitments shall be permanently reduced), in the manner described above in an amount equal to the amount of any such deficit, and Borrower Company shall concurrently therewith deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the additional Net Cash Proceeds resulting in such deficit. Any mandatory prepayments or reductions of the Revolving Loan Commitments pursuant to this subsection 2.4C(ii)(a2.4B(iii)(a) shall be applied as specified in subsection 2.4C(iii2.4B(iv).

Prepayments and Reductions from Asset Sales. No later than the second Business Day following the date of receipt by Borrower Company or any of its Subsidiaries of Cash Proceeds of any Asset Sale, Borrower except from the sale of Development Properties, Company shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), Loans in an amount equal to the use all Net Cash Proceeds of from such Asset SaleSale to prepay the Loans to the full extent thereof. The sale of Development Properties shall not result in a mandatory prepayment pursuant to this subsection 2.4B(ii)(a). Concurrently with any prepayment of the Loans pursuant to this subsection 2.4C(ii)(a2.4B(ii)(a), Borrower Company shall deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the Net Cash Proceeds of the correlative Asset Sale from the gross sales price thereof. In the event that Borrower Company shall, at any time after receipt of Cash Proceeds of any Asset Sale requiring a prepayment or a reduction of the Loans pursuant to this subsection 2.4C(ii)(a2.4B(ii)(a), determine that the prepayments of the Loans previously made in respect of such Asset Sale were in an aggregate amount less than that required by the terms of this subsection 2.4C(ii)(a2.4B(ii)(a), Borrower Company shall promptly make an additional prepayment of the Loans, as the case may be, Loans in the manner described above in an amount equal to the amount of any such deficit, and Borrower Company shall concurrently therewith deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the additional Net Cash Proceeds resulting in such deficit. Any mandatory prepayments or reductions of the Loans pursuant to this subsection 2.4C(ii)(a2.4B(ii)(a) shall be applied as specified in subsection 2.4C(iii).

Prepayments and Reductions from Asset Sales. No later than the second Business Day following the date of receipt by the Borrower of Cash Proceeds of any Asset Sale, the Borrower shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), Loans in an amount equal to the Net Cash Proceeds of such Asset Sale. Concurrently with any prepayment of the Loans pursuant to this subsection 2.4C(ii)(a), the Borrower shall deliver to the Administrative Agent an Officers' Certificate demonstrating the derivation of the Net Cash Proceeds of the correlative Asset Sale from the gross sales price thereof. In the event that the Borrower shall, at any time after receipt of Cash Proceeds of any Asset Sale requiring a prepayment pursuant to this subsection 2.4C(ii)(a), determine that the prepayments previously made in respect of such Asset Sale were in an aggregate amount less than that required by the terms of this subsection 2.4C(ii)(a), the Borrower shall promptly make an additional prepayment of the Loans, as the case may be, in the manner described above in an amount equal to the amount of any such deficit, and the Borrower shall concurrently therewith deliver to the Administrative Agent an Officers' Certificate demonstrating the derivation of the additional Net Cash Proceeds resulting in such deficit. Any mandatory prepayments pursuant to this subsection 2.4C(ii)(a) shall be applied as specified in subsection 2.4C(iii).