Prepayments from Proceeds of Asset Dispositions. Promptly, but in no event later than one (1) Business Day after receipt by the Borrower or any of its Subsidiaries of net cash proceeds of any Asset Disposition (including, without limitation, any insurance or condemnation proceeds), which net cash proceeds exceed $250,000 in the aggregate for any Fiscal Year after the A&R Effective Date, the Borrower shall prepay the Obligations in an amount equal to the net cash proceeds (i.e., gross proceeds less the reasonable costs of such sales or other dispositions, all of the costs and expenses (including the amount, if any, of all taxes paid by the Borrower or any of its Subsidiaries) as a result thereof after taking into account any available tax credits or deductions and any tax sharing arrangements) incurred in connection with the collection of such proceeds, award or other payments, and any amounts retained by or paid to parties having superior rights to such proceeds, awards or other payment) from such Asset Dispositions.
Prepayments from Proceeds of Asset Dispositions. Immediately upon receipt by Borrower or any of its Subsidiaries of net cash proceeds (excluding any bona fide costs incurred by Borrower to a non-Affiliate incurred in such sale and taxes payable by Borrower as a result of such sale) of (a) any Asset Disposition (in one or a series of related transactions), which net proceeds exceed $50,000, or (b) all Asset Dispositions in any Fiscal Year in excess of $100,000 in the aggregate, in each case, Borrower shall prepay the Obligations in an amount equal to such proceeds (it being understood that if the net cash proceeds exceed the applicable ceiling amount, the entire net cash proceeds and not just the portion above the ceiling amount shall be subject to this subsection 2.4(B)(2)). All such prepayments shall be applied to the Loans in accordance with subsection 2.4(D); provided, however, if Borrower reasonably expects the proceeds of any Asset Disposition to be reinvested within twelve (12) months to repair or replace such assets with like assets, Borrower shall deliver the proceeds to Agent to be applied to the Revolving Loan, to the extent of any principal balance thereof, and Agent shall establish a reserve against available funds for borrowing purposes under the Revolving Loan for such amount, until such time as such proceeds have been re-borrowed or applied to other Obligations as set forth herein. If Borrower so elects to deliver such proceeds to Agent, Borrower may, so long as no Default or Event of Default shall have occurred and be continuing, reborrow such proceeds only for such repair or replacement. If Borrower fails to reinvest such proceeds within twelve (12) months or an Event of Default has occurred, Borrower shall remit the proceeds to Agent and the Lenders to repay the Loans or hereby authorizes Agent and Lenders to make a Revolving Advance in the amount of the remaining reserve to repay the Loans, in each case, in the manner set forth in subsection 2.4(D).
Prepayments from Proceeds of Asset Dispositions. No later than the Business Day following the date of receipt by any Borrower of net cash proceeds (i.e., net of ordinary closing costs paid to third parties unaffiliated with any Borrower, net of amounts necessary to pay Indebtedness in favor of third parties unaffiliated with any Borrower secured by the assets disposed of and net) of any Asset Disposition (in one or a series of related transactions), which net cash proceeds exceed $1,000,000 (it being understood that if the net cash proceeds exceed $1,000,000, the entire amount and not just the portion above $1,000,000 shall be subject to this subsection 2.4(B)(2)), Borrowers shall prepay the Obligations in an amount equal to such net cash proceeds. All such prepayments shall be applied to the Loans in accordance with subsection 2.4(E).
Prepayments from Proceeds of Asset Dispositions. Immediately upon receipt by Borrower or any of its Subsidiaries of any Net Proceeds (excluding Net Proceeds received by Beacon Canada to the extent required to reduce the outstanding principal balance of the Canadian Facility Credit Agreement) in excess of $100,000 in the aggregate during any Fiscal Year, Borrower shall prepay the Obligations in an amount equal to such proceeds. All such prepayments shall be applied to the Loans in accordance with subsection 2.5; provided, however, if Borrower reasonably expects the Net Proceeds of any Asset Disposition to be reinvested within one hundred eighty (180) days to repair or replace such assets with like assets, Borrower shall deliver the proceeds to Agent to be applied to the Revolving Loan and Agent shall establish a reserve against available funds for borrowing purposes under the Revolving Loan for such amount, until such time as such proceeds have been re-borrowed or applied to other Obligations as set forth herein. If Borrower so elects to deliver such proceeds to Agent, Borrower may, so long as no Default or Event of Default shall have occurred and be continuing, reborrow such proceeds only for such repair or replacement. If Borrower fails to reinvest such proceeds within one hundred eighty (180) days, Borrower hereby authorizes Agent and Lenders to make a Revolving Loan advance to repay the Loans in the manner set forth in subsection 2.5.
Prepayments from Proceeds of Asset Dispositions. Immediately upon receipt by Borrower or any of its Subsidiaries of any Net Proceeds in excess of US$100,000 or the Equivalent Amount thereof in the aggregate during any Fiscal Year, Borrower shall prepay the Obligations in an amount equal to such proceeds. All such prepayments shall be applied to the Loans in accordance with subsection 2.5; provided, however, that if Borrower reasonably expects the Net Proceeds of any Asset Disposition to be reinvested within one hundred eighty (180) days to repair or replace such assets with like assets, Borrower shall deliver the proceeds to Agent to be applied to the Revolving Loan and Agent shall establish a reserve against available funds for borrowing purposes under the Revolving Loan for such amount, until such time as such proceeds have been re-borrowed or applied to other Obligations as set forth herein. If as contemplated by the immediately preceding sentence, Borrower elects to deliver such proceeds to Agent, Borrower may, so long as no Default or Event of Default shall have occurred and be continuing, reborrow such proceeds only for such repair or replacement.
Prepayments from Proceeds of Asset Dispositions. Promptly, but in no event later than seven (7) Business Days after receipt by any Loan Party of proceeds of any Asset Dispositions (including, without limitation, any insurance proceeds), which proceeds exceed $250,000 in the aggregate (it being understood that if the proceeds exceed $250,000, the entire amount and not just the portion above $250,000 shall be subject to this subsection 2.4(B)(2)), and to the extent not prohibited pursuant to subsection 2.4(E) of the First Lien Loan Agreement, Borrowers shall prepay the Obligations in an amount equal to the net proceeds (i.e., gross proceeds less the reasonable costs of such sales or other dispositions and less any Indebtedness for borrowed money secured by a Lien described in clause (e) of the definition of Permitted Encumbrances) from such Asset Dispositions. All such prepayments shall be applied to the Loans in accordance with subsection 2.4(E); PROVIDED, HOWEVER, if Borrowers reasonably expect the proceeds of any Asset Disposition to be reinvested within one hundred eighty (180) days to repair or replace such assets with assets of a similar class, Borrowers may, so long as no Default or Event of Default shall have occurred and be continuing, use such proceeds only for such repair or replacement. If Borrowers fail to reinvest such proceeds for such purpose within one hundred eighty (180) days, Borrowers shall repay the Loans with such proceeds in the manner set forth in subsection 2.4(E).
Prepayments from Proceeds of Asset Dispositions. Immediately upon receipt by any Loan Party or any of their respective Subsidiaries of Net Cash Proceeds of any Asset Disposition, which Net Cash Proceeds (together with all other Net Cash Proceeds of Asset Dispositions theretofore consummated by the Loan Parties or any of their respective Subsidiaries during any Fiscal Year) exceed $100,000 in the aggregate in any Fiscal Year (it being understood that if the Net Cash Proceeds of any Asset Disposition exceed $50,000, the entire amount and not just the portion above $100,000 shall be subject to this Section 2.4(B)(2)), the Borrowers shall prepay the Obligations in an amount equal to such proceeds. All such prepayments shall be applied to the Loans in accordance with Section 2.4(E).
Prepayments from Proceeds of Asset Dispositions. (other ------------------------------------------------------ than Insurance Proceeds and Condemnation Proceeds). Immediately upon receipt -------------------------------------------------- by Borrower or any of its domestic Subsidiaries of Net Proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $100,000 (it being understood that if the Net Proceeds exceed $100,000 within any 12-month period the portion above $100,000, shall be subject to this subsection 2.4(B)(2)), Borrower shall prepay the Obligations in an amount equal --------------------- to such proceeds. All such prepayments shall be applied to the Loans in accordance with subsection 2.4(E). Notwithstanding the foregoing, Net Proceeds ----------------- from insurance policies shall be governed by the provisions of subsection ---------- 2.4(B)(3). ---------
Prepayments from Proceeds of Asset Dispositions. Immediately upon receipt by any Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $2,000,000 (it being understood that if the proceeds exceed $2,000,000, the entire amount and not just the portion above $2,000,000 shall be subject to this subsection 2.4(B)(2)), Borrowers shall prepay the Obligations in an amount equal to such proceeds. All such prepayments shall be applied to the Loans in accordance with subsection 2.4(E). Notwithstanding anything to the contrary in the foregoing, the Borrowers shall not be required to prepay the Obligations in the event that any Borrower receives proceeds in respect of the Campus Transaction or the THCI Turnover.
Prepayments from Proceeds of Asset Dispositions. Promptly, but in no event later than seven (7) Business Days after receipt by any Loan Party of proceeds of any Asset Dispositions (including, without limitation, any insurance proceeds), Borrower shall prepay the Obligations in an amount equal to the net proceeds (i.e., gross proceeds less the reasonable costs of such sales or other dispositions) from such Asset Dispositions; provided, that if and to the extent proceeds are received from the disposition of Additional Collateral (“Additional Collateral Proceeds”), then the following provisions shall apply:
