Reinvestment of Proceeds. Reinvestment of proceeds resulting from the sale or refinancing of a Company Asset may take place if sufficient cash will be distributed to pay federal income tax, if any (assuming investors are in a specified tax bracket) created by the sale or refinancing of such Asset. To the extent that any cash available for distribution is reinvested, such reinvested cash shall not be considered “investments” in the Company for the purposes of calculating Capital Contributions.
Reinvestment of Proceeds. (i) Subject to the requirements of Section 852(a) of the Code, Recyclable Proceeds received during the Investment Period (or to the extent the Fund has entered into a binding contract to receive Recyclable Proceeds during the Investment Period, such contracted proceeds) may be used to pay down outstanding debt or may be reinvested to the extent received (or contracted to be received), or if distributed, will be added to the Members’ Remaining Capital Commitments and will be subject to drawdown in accordance with Section 5.1(b). Such Recyclable Proceeds received after the Investment Period may only be reinvested (x) (A) to make “follow-on” investments as determined by the Investment Manager in its sole discretion in order to enhance, preserve or protect the Fund’s existing Portfolio Investments (subject to a maximum amount of 15% of aggregate Capital Commitments), (B) to make Portfolio Investments which were in process (e.g., investments in respect of which a non-disclosure or similar agreement has been entered into or for which the Fund has submitted a binding or non-binding bid or indication of interest) but which were not yet consummated as of the end of the Investment Period, (C) to adjust any hedging positions as the Investment Manager may deem to be advisable, (D) in Securities in connection with the maintenance of reserves pursuant to Section 6.4(c) or pending the making of investments or transactions contemplated by this Section 6.4(b)(i), or (E) to sell an existing Portfolio Investment and purchase a new Portfolio Investment to the extent such transaction does not materially increase the overall risk profile of the Fund or materially reduce the liquidity of the Fund, all as determined by the Investment Manager in its sole discretion or (y) to the extent such proceeds constitute amounts received by the Fund pursuant to the sale of a Portfolio Investment to the Offshore Fund, other Parallel Investment Vehicles, co-investors and/or to third parties. The Fund may engage in transactions giving rise to leverage with respect to particular investments (including by refinancing or securitizing an investment) throughout the Fund’s Term (including after the Investment Period), which transactions will not constitute reinvestment or be subject to the restrictions set forth in this Section 6.4(b).
(ii) Recyclable Proceeds permitted to be reinvested in accordance with Section 6.4(b)(i) that have been distributed in whole or in part to the Members shall be added t...
Reinvestment of Proceeds. If requested by Borrowers in writing within fifteen (15) days after Agent’s receipt of any insurance proceeds or condemnation awards relating to any loss or destruction of Equipment or Real Estate, Borrowers may use such proceeds or awards to repair or replace such Equipment or Real Estate (and until so used, the proceeds shall be held by Agent as Cash Collateral) as long as (i) no Default or Event of Default exists; (ii) such repair or replacement is promptly undertaken and concluded, in accordance with plans reasonably satisfactory to Agent; (iii) replacement buildings are constructed on the sites of the original casualties and are of comparable size, quality and utility to the destroyed buildings; (iv) the repaired or replaced Property is free of Liens, other than Permitted Liens that are not Purchase Money Liens; (v) Borrowers comply with disbursement procedures for such repair or replacement as Agent may reasonably require; and (vi) the aggregate amount of such proceeds or awards from any single casualty or condemnation does not exceed $150,000.
Reinvestment of Proceeds. Reinvestment of proceeds resulting from the sale or refinancing of a Company asset may take place if sufficient cash will be distributed to pay federal income tax, if any (assuming investors are in a specified tax bracket) created by the sale or refinancing of such asset. To the extent that any cash available for distribution is reinvested, such reinvested cash shall not be considered “investments” in the Company for the purposes of calculating Capital Contributions. Except as provided by the applicable provisions of Article XIV of this Agreement and by the Advisory Agreement, the Company will not pay, directly or indirectly, a commission or fee to the Sponsor in connection with the reinvestment of cash available for distribution or of the proceeds of the resale, exchange or refinancing of Company assets.
Reinvestment of Proceeds. If requested by Borrower in writing within 30 days after Lender’s receipt of any insurance proceeds or condemnation awards relating to any loss or destruction of Equipment or Real Estate, Borrower may use such proceeds or awards to repair or replace such Equipment or Real Estate (and until so used, the proceeds shall be held in a Deposit Account of Borrower at Lender subject to a Deposit Account Control Agreement) as long as (i) no Event of Default exists on the date of such request; (ii) the repaired or replaced Property is free of Liens, other than Permitted Liens that are not Purchase Money Liens; and (iii) the aggregate amount of such proceeds or awards from any single casualty or condemnation reinvested pursuant to this Section does not exceed $4,000,000.
Reinvestment of Proceeds. Immediately following the sale and ------------------------ liquidation of the Pledged Securities pursuant to Section 10(b)(A) and payment to the Pledgor of the Excess pursuant to Section 10(b)(B), the Pledgor shall direct the Trustee to invest the proceeds remaining in the Pledge Account in United States Treasury securities which shall constitute Pledged Securities for the purposes of this Agreement, provided, however, that such United States Treasury securities shall be in amounts and with maturities that match the amounts of and payment dates for the installments of the Pre-Launch Insurance Premiums, as set forth in the Payment Schedule.
Reinvestment of Proceeds. The Trust may reinvest proceeds resulting from the sale or refinancing of Trust assets, provided that sufficient cash will be distributed to pay state and federal income tax, if any, (assuming investors are in a specified tax bracket as determined by the Trustees) created by the sale or refinancing of such assets.
Reinvestment of Proceeds. The Stockholder agrees that, within 90 days of the Effective Time (provided that such period shall be extended for any period during which he is precluded from purchasing shares of CN Common Stock pursuant to applicable law), he will have acquired at least 98,150 shares of CN Common Stock pursuant to the Merger or pursuant to open market purchases, provided that the Stockholder shall not be obligated to invest an aggregate amount in excess of $5,300,000 of proceeds from the Offer and/or the Merger (as such terms are defined in the Merger Agreement). For purposes of this Section 2.02, any shares of CN Common Stock issued to the Stockholder pursuant to the Merger shall be deemed to represent an investment in an amount equal to the product of the number of shares of CN Common Stock so received and the average closing trading price per share of CN Common Stock on the NYSE for the 5 trading days immediately following the date of receipt.
Reinvestment of Proceeds. If requested by Borrower in writing within 30 days after Lender’s receipt of any insurance proceeds or condemnation awards relating to any loss or destruction of Equipment or Real Estate, Borrower may use such proceeds or awards to repair or replace such Equipment or Real Estate (and until so used, the proceeds shall be held in a Deposit Account of Borrower subject to a Deposit Account Control Agreement if not otherwise held in a Deposit Account of Borrower maintained at Lender) as long as (i) no Event of Default exists on the date of such request and (ii) the repaired or replaced Property is free of Liens, other than Permitted Liens that are not Purchase Money Liens.
Reinvestment of Proceeds. A. The Lender hereby certifies and agrees, as an inducement to and condition of the purchase of those Eligible Loans to be Financed hereunder which were made or originated prior to the date hereof, that the Lender shall make new Student Loans in an aggregate principal amount equal to the proceeds received by the Lender pursuant to paragraph 2.D. with respect to those Eligible Loans sold to the Trustee on behalf of the Corporation hereunder which were not made or originated prior to the date hereof in anticipation of purchase by or on behalf of the Corporation (or the nonprofit corporation formerly known as Student Loan Finance Corporation) under the Program. Eligible Loans made in anticipation of purchase by or on behalf of the Corporation under the Program which are sold and delivered to the Trustee on behalf of the Corporation pursuant to this Agreement may be applied by the Lender in satisfaction of its reinvestment obligation under a Loan Purchase Contract, provided that the Lender shall make new Student Loans in an aggregate principal amount at least equal to the amount of the Lender's reinvestment obligation under a Loan Purchase Contract satisfied by such Eligible Loans. Upon the written request of the Servicer, the Lender shall report to the Servicer as to the new Student Loans made and the balance of unexpended proceeds remaining to be invested.
B. If the Lender fails to satisfy its obligations under paragraph 10.A., the Corporation may assert such rights and take such other action, at law or in equity, as it may deem appropriate. In fulfilling its obligation in this Section 10, the Lender shall (i) make available loan applications and other documentation, together with qualified loan personnel, at locations reasonably accessible to students, and (ii) undertake advertising to publicize the availability of Student Loans.
