Recovery Event Proceeds. Subject in all respects to the terms and conditions of and the rights of other secured parties set forth in thean Intercreditor Agreement, Borrower shall prepay the Term Loans in an aggregate amount equal to 100% of the Recovery Event Proceeds concurrently upon receipt of the same by Bxxxxxxx, Parent or any Subsidiary of Parent and the same shall be applied to (i) all accrued and unpaid payments of interest with respect to the Term Loan due prior to the date of prepayment, (ii) the outstanding principal amount of the Term Loan and (iii) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan, including all Obligations due hereunder; provided, however, that so long as no Default or Event of Default shall have occurred and be continuing, such Recovery Event Proceeds shall not be required to be so applied to the extent that Borrower notifies Agent prior to or concurrently with receipt of such Recovery Event Proceeds that the same will be used (and to the extent Borrower, Parent or such Subsidiary actually uses such Recovery Event Proceeds) for the replacement, substitution or restoration of the assets subject to the applicable Casualty Event or condemnation within one hundred eighty (180) days after the receipt of such Recovery Event Proceeds; provided further that, if at any time Borrower, Parent or any Subsidiary of Parent determines that such Recovery Event Proceeds or any portion thereof will not be so used within one hundred eighty (180) days after the receipt of such Recovery Event Proceeds, such Recovery Event Proceeds shall be immediately applied to prepay the Term Loans as required above.
Recovery Event Proceeds. Within 10 days following each date upon which any Company receives any cash proceeds from any Recovery Event (other than Recovery Events for which the Net Recovery Event Proceeds do not exceed $100,000), the Borrower shall pay to the Agent for application to the Term Loans an amount equal to 100% of such Net Recovery Event Proceeds; provided that:
Recovery Event Proceeds. Evidence reasonably satisfactory to the Administrative Agent that all Net Cash Proceeds received by the Borrower or its Subsidiaries and retained by the Borrower for reinvestment pursuant to Section 3.4(c) on or prior to such request have been reinvested in accordance therewith.
