Common use of Proceeds of Asset Dispositions Clause in Contracts

Proceeds of Asset Dispositions. Immediately upon receipt by Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this Section 2.4(b)(ii)), Borrower shall prepay the Obligations in an amount equal to such proceeds.

Appears in 1 contract

Samples: Credit and Security Agreement (Tower Air Inc)

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Proceeds of Asset Dispositions. Immediately upon receipt by Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this Section 2.4(b)(iisubsection 2.4(B)(2)), Borrower shall prepay the Obligations in an amount equal to such proceeds.

Appears in 1 contract

Samples: Loan and Security Agreement (Sun Sportswear Inc)

Proceeds of Asset Dispositions. Immediately upon receipt by ------------------------------ Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this Section 2.4(b)(iisubsection 2.4(B)(2)), Borrower --------------------- shall prepay repay the Obligations in an amount equal to such proceeds.

Appears in 1 contract

Samples: Loan and Security Agreement (Tower Air Inc)

Proceeds of Asset Dispositions. Immediately upon receipt by ------------------------------ Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this Section 2.4(b)(iisubsection ---------- 2.4(B)(2)), Borrower shall prepay the Obligations in an amount equal to ---------- such proceeds.

Appears in 1 contract

Samples: Loan and Security Agreement (Tower Air Inc)

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Proceeds of Asset Dispositions. Immediately upon receipt by ------------------------------ Borrower or any of its Subsidiaries of proceeds of any Asset Disposition (in one or a series of related transactions), which proceeds exceed $10,000 (it being understood that if the proceeds exceed $10,000, the entire amount and not just the portion above $10,000 shall be subject to this Section 2.4(b)(iisubsection 2.4(B)(2)), --------------------- Borrower shall prepay the Obligations Revolving Loan in an amount equal to such proceeds.

Appears in 1 contract

Samples: Loan and Security Agreement (Right Start Inc /Ca)

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