Proceeds of Casualty Events and Collateral Dispositions. (a) So long as no Event of Default shall have occurred and be continuing, in the event there shall be any Net Cash Proceeds in respect of any Casualty Event or from any Asset Sale of Collateral, the applicable Loan Party shall have the right, at such Loan Party’s option, to apply such Net Cash Proceeds in accordance with the applicable provisions of this Agreement.
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Samples: Credit Agreement (Herbalife Ltd.), Credit Agreement (Herbalife Ltd.), Credit Agreement (Wh Holdings Cayman Islands LTD)
Proceeds of Casualty Events and Collateral Dispositions. (a) So long as no Event of Default shall have occurred and be continuing, in the event there shall be any Net Cash Proceeds in respect of any Casualty Event or from any Asset Sale of Collateral, the applicable Loan Party shall have the right, at such Loan Party’s 's option, to apply such Net Cash Proceeds in accordance with the applicable provisions of this Agreement.
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