Common use of Reinvestment Option Clause in Contracts

Reinvestment Option. With respect to any Net Cash Proceeds realized or received with respect to any Asset Disposition or any Insurance and Condemnation Event by any Credit Party of any Subsidiary thereof (in each case, only to the extent contemplated pursuant to Section 2.11(b)(iii)), at the option of the Parent Borrower, the Credit Parties or their Subsidiaries may reinvest all or any portion of such Net Cash Proceeds in assets used or useful for the business of the Credit Parties and their Subsidiaries within twelve (12) months following receipt of such Net Cash Proceeds (or, if a commitment for such reinvestment has been made within such twelve (12) month period, within 90 days after the end of such twelve (12) month period); provided that if any Net Cash Proceeds are no longer intended to be or cannot be so reinvested at any time after delivery of a notice of reinvestment election, an amount equal to any such Net Cash Proceeds shall be applied within three (3) Business Days after the applicable Credit Party reasonably determines that such Net Cash Proceeds are no longer intended to be or cannot be so reinvested to the prepayment of the Term Loans as set forth in this Section 2.11(b);. Pending the final application of any such Net Cash Proceeds, the applicable Credit Party may invest an amount equal to such Net Cash Proceeds in any manner that is not prohibited by this Agreement.

Reinvestment Option. With respect to any Net Cash Proceeds realized or received with respect to any Asset Disposition or any Insurance and Condemnation Event by any Credit Party of any Subsidiary thereof (in each case, only to the extent contemplated pursuant to Section 2.11(b)(iii)), at the option of the Parent Borrower, the Credit Parties or their Subsidiaries may reinvest all or any portion of such Net Cash Proceeds in assets used or useful for the business of the Credit Parties and their Subsidiaries within twelve (12) months following receipt of such Net Cash Proceeds (or, if a commitment for such reinvestment has been made within such twelve (12) month period, within 90 days after the end of such twelve (12) month period); provided that if any Net Cash Proceeds are no longer intended to be or cannot be so reinvested at any time after delivery of a notice of reinvestment election, an amount equal to any such Net Cash Proceeds shall be applied within three (3) Business Days after the applicable Credit Party reasonably determines that such Net Cash Proceeds are no longer intended to be or cannot be so reinvested to the prepayment of the Term Loans as set forth in this Section 2.11(b);. Pending the final application of any such Net Cash Proceeds, the applicable Credit Party may invest an amount equal to such Net Cash Proceeds in any manner that is not prohibited by this Agreement.

Reinvestment Option. With respect to any Net Cash Proceeds realized or received with respect to any Asset Disposition or any Insurance and Condemnation Event by any Credit Loan Party of any Subsidiary thereof (in each case, only to the extent contemplated not excluded pursuant to Section 2.11(b)(iii2.10(b)(ii)(B)), at the option of the Parent BorrowerBorrowers, the Credit Loan Parties or their Subsidiaries may reinvest all or any portion of such Net Cash Proceeds in assets used or useful (including maintenance capital expenditures) for the business of the Credit Loan Parties and their Subsidiaries within (x) twelve (12) months following receipt of such Net Cash Proceeds or (or, y) if such Loan Party enters into a bona fide commitment for to reinvest such reinvestment has been made Net Cash Proceeds within such twelve (12) month periodmonths following receipt thereof, within 90 days after the end of such twelve eighteen (1218) month period)months following receipt thereof; provided that if any Net Cash Proceeds are no longer intended to be or cannot be so reinvested at any time after delivery of a notice of reinvestment election, an amount equal to any such Net Cash Proceeds shall be applied within three (3) Business Days after the applicable Credit Loan Party reasonably determines that such Net Cash Proceeds are no longer intended to be or cannot be so reinvested to the prepayment of the Term Loans as set forth in this Section 2.11(b2.10(b)(ii);. Pending the final application of any such Net Cash Proceeds, the applicable Credit Loan Party may invest an amount equal to such Net Cash Proceeds in any manner that is not prohibited by this Agreement.