PROCEEDS OF DISPOSITIONS. After deducting all expenses payable by Pledgor, including, without limitation, under Section 21.09(a), and after making any payments required by Sections 9-608(a)(1)(A) or 9-615(a)(1) of the NYUCC, the residue of any proceeds of collection or sale of the Collateral shall, to the extent actually received in cash, be applied to the payment of the remaining Secured Obligations in such order or preference as is provided in the STID, proper allowance and provision being made for any Secured Obligations not then due or held as additional Collateral. Pledgor shall remain liable for any deficiency in the payment of the Secured Obligations.
PROCEEDS OF DISPOSITIONS. After deducting all expenses payable to Secured Party, including, without limitation, pursuant to Section 7, and after making any payments required by Sections 9-608(a)(1)(A) or 9-615(a)(1) of the NYUCC, the residue of any proceeds of collection or sale of the Secured Obligations or Pledged Collateral shall, to the extent actually received in cash, be applied to the payment of the remaining Secured Obligations in such order or preference as is provided in the STID, proper allowance and provision being made for any Secured Obligations not then due or held as additional Pledged Collateral. Pledgor shall remain liable for any deficiency in the payment of the Secured Obligations.
PROCEEDS OF DISPOSITIONS. Upon the occurrence and at any time during the continuance of an Event of Default and subject to the provisions of the Subordination Agreement, Secured Party shall be authorized in its sole and absolute discretion to apply the net proceeds received from the sale or other disposition of any Collateral from Debtor or from any other source in the following order of priority:
PROCEEDS OF DISPOSITIONS. After deducting all expenses payable by the Grantors, the residue of any proceeds of collection or sale of the Collateral shall, to the extent actually received in cash, be applied to the payment of the remaining Secured Obligations in such order or preference as is provided in Section 8.04 of the Credit Agreement, proper allowance and provision being made for any Secured Obligations not then due and for any cash proceeds held as additional collateral. Upon the final payment and satisfaction in full of all of the Secured Obligations and the termination of all Letters of Credit (other than those that have been Cash Collateralized) and all commitments under the Credit Agreement and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the NYUCC, any excess shall be returned to the Grantors or transferred as a court of competent jurisdiction may direct, and in any event the Grantors shall remain liable for any deficiency in the payment of the Secured Obligations.
PROCEEDS OF DISPOSITIONS. Proceeds of disposition of Pledged Collateral received upon exercise by the Security Trustee of any foreclosure remedies under and as provided in this Pledge Agreement shall be applied as provided in Clause 9.5 (Mandatory Prepayment – Disposals) of the Facilities Agreement.
PROCEEDS OF DISPOSITIONS. After deducting all expenses payable to the Security Agent, the residue of any proceeds of collection or sale of Pledged Collateral shall, to the extent actually received in cash, be applied to the payment of the remaining Secured Obligations in such order or preference as provided in the Facility Agreement, proper allowance and provision being made for any Secured Obligations not then due and for any cash proceeds held as additional collateral. Upon the final payment and satisfaction in full of all of the Secured Obligations (provided that no further Secured Obligations may become outstanding) and the termination of all commitments under the Facility Agreement and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the NYUCC, any excess shall be returned to the Pledgor or transferred as a court of competent jurisdiction may direct, and in any event the Pledgor shall remain liable for any deficiency in the payment of the Secured Obligations.
PROCEEDS OF DISPOSITIONS. Subject to Section 2.8(d), if the Borrower or any Guarantor (other than the Utility) receives Net Proceeds of any Disposition by the Borrower or such Guarantor that is subject to and made under Section 7.3, the Borrower shall prepay an aggregate principal amount of Loans equal to 100% of all Net Proceeds received therefrom on or prior to the date which is five Business Days after the receipt of such Net Proceeds; provided, that with respect to any Net Proceeds received with respect to any such Disposition, at the option of the Borrower and so long as no Default or Event of Default shall have occurred and be continuing, the Borrower may reinvest all or any portion of such Net Proceeds in acquisitions of, or investments in, assets useful for its business within (x) 12 months following receipt of such Net Proceeds or (y) if Borrower enters into a legally binding commitment to reinvest such Net Proceeds within 12 months following receipt thereof, within 180 days after entry into such commitment; provided, further, that if any Net Proceeds are no longer intended to be or cannot be so reinvested at any time after delivery of a notice of reinvestment election, or have not been reinvested within the time period set forth above, an amount equal to any such Net Proceeds shall be applied as set forth in the first sentence of this Section 2.8(b)(ii) without giving effect to the immediately preceding proviso within five Business Days after the Borrower reasonably determines that such Net Proceeds are no longer intended to be or cannot be so reinvested to the prepayment of the Loans as set forth in this Section 2.8; and
PROCEEDS OF DISPOSITIONS. After deducting all expenses payable to the Administrative Agent, the residue of any proceeds of collection or sale of Pledged Collateral shall, to the extent actually received in cash, be applied to the payment of the remaining Secured Obligations in such order or preference as provided in Section 8.03 of the Credit Agreement, proper allowance and provision being made for any Secured Obligations not then due and for any cash proceeds held as additional collateral. Upon the final payment and satisfaction in full of all of the Secured Obligations (other than contingent indemnification obligations that have not yet been asserted and provided that no further Secured Obligations may become outstanding) and the termination of all Letters of Credit (other than those that have been Cash Collateralized) and all commitments under the Credit Agreement and after making any payments required 84028209_3 by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the NYUCC, any excess shall be returned to the applicable Pledgor(s) or transferred as a court of competent jurisdiction may direct, and in any event each Pledgor shall remain liable for any deficiency in the payment of the Secured Obligations.
PROCEEDS OF DISPOSITIONS. Deposit the proceeds of any Disposition by such Guarantor (including without limitation any Disposition of assets, rights or other interests relating to the Golden Eagle Project, the Pinyon Project, the Spring Valley Project or the Tonopah Project) into either (i) a Depositary Account in accordance with Article XIV of the Credit Agreement or (ii) another secured account acceptable to, and subject to a control agreement in form and substance acceptable to, the Administrative Agent and the Collateral Agent.
PROCEEDS OF DISPOSITIONS. Subject to the Subordination Agreement, deposit the proceeds of any Disposition by such Guarantor (including without limitation any Disposition of assets, rights or other interests relating to the Golden Eagle Project, the Pinyon Project, the Spring Valley Project or the Tonopah Project) into either (i) a Depositary Account in accordance with the Senior Credit Agreement or (ii) another secured account acceptable to, and subject to a control agreement in form and substance acceptable to, the Senior Agent. -13- Midway - Guaranty
