Prepayments from Asset Dispositions. Within five (5) Business Days after the receipt by a Credit Party or any Subsidiary of a Credit Party of any Net Cash Proceeds from an Asset Sale or Net Casualty/Condemnation Proceeds, the Borrower shall cause 100% of such Net Cash Proceeds or Net Casualty/Condemnation Proceeds to be applied to prepay the Loans; provided however that if the Borrower notifies each of the Administrative Agent and the Revolving Agent in writing within such five (5) Business Day period that the applicable Credit Party or Subsidiary has applied or intends to apply such Net Cash Proceeds to acquire, maintain, develop, construct, improve, upgrade, replace, repair or invest in long term assets used or useful in the business of such Credit Party or such applicable Subsidiary or any other Credit Party, then the applicable Credit Party or Subsidiary, shall, so long as no Event of Default shall have occurred and be continuing, be permitted to use such proceeds as notified to the Administrative Agent and the Revolving Agent within two hundred seventy (270) days of the receipt thereof; provided further, that to the extent such proceeds have not been used or irrevocably committed to be used for such a purpose within two hundred seventy (270) days of the receipt thereof, such Net Cash Proceeds or Net Casualty/Condemnation Proceeds shall be applied to prepay the Loans in accordance with Section 1.09. All prepayments under this Section 2.02(a) shall be accompanied by all accrued and unpaid interest on the Loans being prepaid and, in the case of any prepayment under this Section 2.02(a) resulting from the receipt of Net Cash Proceeds, the applicable Prepayment Fee (which, subject to Section 1.09, shall be deducted from such Net Cash Proceeds prior to the application of such Net Cash Proceeds in prepayment of the Loans in accordance with the terms of the preceding sentence).
Prepayments from Asset Dispositions. Immediately upon receipt of any Net Proceeds in excess of $500,000 for any single transaction or series of related transactions within a period of twelve consecutive months, Borrower shall repay the outstanding principal balance of the Revolving Loan by an amount equal to the amount of any reduction in the Borrowing Base attributable to the Asset Disposition giving rise to such Net Proceeds to the extent that any such reduction would result in the outstanding principal balance of the Revolving Loans exceeding the Maximum Revolving Loan Balance. Borrower or any Subsidiary may reinvest all remaining Net Proceeds of such Asset Disposition, within one hundred eighty (180) days, in productive fixed assets of a kind then used or usable in the business of Borrower; provided that, to the extent such productive fixed assets were acquired by Borrower within ninety (90) days prior to the receipt of such Net Proceeds, such Net Proceeds shall be deemed to be invested in such productive fixed assets for purposes of this subsection. If Borrower does not intend to so invest or reinvest such Net Proceeds or if the periods set forth in the immediately preceding sentence expire without Borrower having invested or reinvested such Net Proceeds, Borrower shall prepay the Loans in an amount equal to such remaining Net Proceeds of such Asset Disposition. The payments shall be applied in accordance with subsection 1.5(E).
Prepayments from Asset Dispositions. Immediately upon receipt of any Net Proceeds in excess of $1,000,000 in the aggregate during any Fiscal Year, Borrower shall prepay the Loans in an amount equal to such Net Proceeds, except that Borrower or its Subsidiaries may reinvest all Net Proceeds of any such Asset Disposition, within one hundred eighty (180) days, in fixed assets. If Borrower does not intend to so reinvest such Net Proceeds or if the period set forth in the immediately preceding sentence expires without Borrower having reinvested the Net Proceeds of any such Asset Disposition, Borrower shall prepay the Loans in an amount equal to such remaining Net Proceeds in accordance with SECTION 1.5(e).
Prepayments from Asset Dispositions. Borrower shall immediately use the proceeds from sales of inventory in the ordinary course of business and any payments received with respect to accounts receivable to immediately repay Revolving Loans. Immediately upon receipt of any Net Proceeds, Borrower shall repay the outstanding principal balance of the Revolving Loans by the amount of any reduction in the Borrowing Base attributable to the Asset Disposition giving rise to such Net Proceeds. To the extent not required to so prepay Revolving Loans as provided above, Borrower may, upon prior written notice to Agent, reinvest any remaining Net Proceeds of Asset Dispositions, within ninety (90) days, in productive replacement assets of a kind then used or usable in the business of Borrower; provided, that, if Borrower does not intend to so reinvest any such remaining Net Proceeds, or if the applicable ninety (90) day period expires without Borrower having reinvested any such remaining Net Proceeds, Borrower shall prepay the Loans in the amount thereof, such prepayments to be applied as provided in subsection 1.5(E); provided, that, notwithstanding the foregoing or any provision of subsection 1.5(E) to the contrary, from and after the Amendment No. 6 Date, the first $10,000,000 of such prepayments shall in any event be applied (1) with respect to the first $2,000,000 of such prepayments, to prepay the Revolving Loans or Acquisitions Loans (as determined by the Borrower) and (2) with respect to the next $8,000,000 in such prepayments, up to fifty percent (50%) (as determined by the Borrower) to prepay the Revolving Loans (and, at the option of Borrower, the Revolving Loan Commitment may be reduced by the amount of any such prepayment) and the remainder to prepay the Acquisition Loans.
Prepayments from Asset Dispositions. (i) Except as otherwise provided in Section 1.6(f) hereof, promptly upon receipt of any Net Proceeds received by any US Credit Party in excess of the Dollar Equivalent of $5,000,000 in the aggregate during any Fiscal Year, US Borrowers shall prepay the US Tranche A Loans and US Tranche A1 Loans in an amount equal to such Net Proceeds, except that US Borrowers or their Subsidiaries may reinvest all Net Proceeds of any such Asset Disposition, within one hundred eighty (180) days, in productive replacement fixed assets of a kind then used or usable in the business of US Borrowers. If US Borrowers do not intend to so reinvest such Net Proceeds or if the period set forth in the immediately preceding sentence expires without US Borrowers having reinvested the Net Proceeds of any such Asset Disposition or if such Net Proceeds are attributable to a working capital, earnings, balance sheet or similar adjustment under any acquisition agreement or similar purchase agreement, US Borrowers shall prepay the US Tranche A Loans and US Tranche A1 Loans in an amount equal to such remaining Net Proceeds in accordance with Section 1.6(e).
Prepayments from Asset Dispositions. Immediately upon receipt by the Borrower or any of its Subsidiaries of the Net Proceeds of any Asset Disposition, the Borrower shall make a prepayment in respect of the Obligations equal to the amount of such Net Proceeds of such Asset Disposition.
Prepayments from Asset Dispositions. Immediately upon receipt of any Net Proceeds in excess of $100,000 in the aggregate during any Fiscal Year, Borrower shall prepay the Loans in an amount equal to such Net Proceeds, except that Borrower or its Subsidiaries may reinvest all Net Proceeds of any such Asset Disposition, within one hundred eighty (180) days or irrevocably commit to a third party in writing to reinvest such Net Proceeds within 180 days, in assets usable in the business of the Borrower and its Subsidiaries. If Borrower does not intend to so reinvest such Net Proceeds or if the period set forth in the immediately preceding sentence expires without Borrower having reinvested or irrevocably committed to a third party in writing to reinvest the Net Proceeds of any such Asset Disposition or if such Net Proceeds are attributable to a working capital, earnings, balance sheet or similar adjustment under the Acquisition Agreement, Borrower shall prepay the Loans in an amount equal to such remaining Net Proceeds in accordance with Section 2.5(e).
Prepayments from Asset Dispositions. Except to the extent applied as a prepayment of the First Lien Loan Obligations, immediately upon receipt of any Net Proceeds in excess of $1,000,000 in the aggregate during any Fiscal Year, Borrower shall prepay the Term Loan C in an amount equal to such Net Proceeds, except that Borrower or its Subsidiaries may reinvest all Net Proceeds of any such Asset Disposition, within one hundred eighty (180) days, in fixed assets. If Borrower does not intend to so reinvest such Net Proceeds or if the period set forth in the immediately preceding sentence expires without Borrower having reinvested the Net Proceeds of any such Asset Disposition, Borrower shall prepay the Term Loan C in an amount equal to such remaining Net Proceeds in accordance with SECTION 1.5(E).
Prepayments from Asset Dispositions. The Borrower shall, within five days of the receipt of any Net Proceeds related to an Asset Disposition, prepay the outstanding Loans as of such date in an aggregate amount equal to the Net Proceeds of such Asset Disposition. For purposes of this Section 2.14, the following terms shall have the following meanings:
Prepayments from Asset Dispositions. Immediately upon the Loan Parties' receipt of Net Proceeds of any Asset Disposition, Borrower shall repay the outstanding principal balance of the Obligations by the amount of such Net Proceeds; PROVIDED that Borrower or its Subsidiaries may reinvest all Net Proceeds of such Asset Disposition, within two hundred seventy (270) days, in productive replacement assets of a kind then used or usable in the business of Borrower or its Subsidiaries. If (1) Borrower or its Subsidiaries do not intend to so reinvest such Net Proceeds, or (2) the period set forth in the immediately preceding sentence expires without Borrower or its Subsidiaries having reinvested such Net Proceeds, Borrower shall prepay the Revolving Loans in an amount equal to the Net Proceeds of such Asset Disposition. The payments shall be applied in accordance with SUBSECTION 1.5(D).
