Repayments From Net Proceeds of Asset Sales or Insurance or Condemnation Proceedings. Within three (3) Business Days following the date of receipt by the Borrower or any of its Subsidiaries of any Net Proceeds (Asset Sales) (other than in connection with Asset Sales permitted under Section 7.4(a)(i)), the Loans shall be automatically and permanently prepaid in an amount equal to, in the aggregate, one-hundred percent (100%) of any Net Proceeds (Asset Sales); provided, however, that no prepayment under this Section 2.6(b)(iii) shall occur if such Net Proceeds (Asset Sales) (A) are from an Asset Sale and are reinvested in a Permitted Business, or other assets directly related thereto within the succeeding two hundred seventy (270) day period or (B) are from an insurance or condemnation proceeding and are reinvested in any Permitted Business or other assets directly related thereto within the succeeding two hundred seventy (270) day period; and provided further, that so long as (i) no Default or Event of Default shall have occurred and be continuing and (ii) the Borrower and its Subsidiaries are and will be in pro forma compliance with Section 7.8, both before and after giving effect to such Asset Sales, no prepayment shall be required on the first $30,000,000 of Net Proceeds (Asset Sales) during the term of this Agreement that are not reinvested pursuant to clause (A) or (B), as applicable. Repayments under this Section 2.6(b)(iii) shall be applied first, pro rata, to the principal of the Term Loan B and, if applicable, the Incremental Facility Loans (applied to reduce, on a pro rata basis, the remaining scheduled principal installments of the Term Loan B and, if applicable, the Incremental Facility Loans) and, second to the outstanding principal amount of the Revolving Loans. Accrued interest on the principal amount of the Loans being repaid pursuant to this Section 2.6(b)(iii) to the date of such repayment (together with any additional amount owing under Section 2.9) will be paid by the Borrower concurrently with such principal repayment.
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Repayments From Net Proceeds of Asset Sales or Insurance or Condemnation Proceedings. Within three (3) Business Days following the date of receipt by the Borrower or any of its Restricted Subsidiaries of any Net Proceeds (Asset Sales) (other than in connection with Asset Sales permitted under to the extent made in reliance upon Section 7.4(a)(i)7.4(a)(ii), (iii), (xii) or (xiv) and Asset Sales not otherwise permitted hereunder, the Borrower shall prepay the Loans shall be automatically and permanently prepaid in an amount equal to, in the aggregate, one-hundred percent (100%) of any Net Proceeds (Asset Sales)) to the extent that the aggregate amount of such Net Proceeds (Asset Sales) exceed $20,000,000 during the term of this Agreement; provided, however, that no prepayment under this Section 2.6(b)(iii) shall occur be required if such Net Proceeds (Asset Sales) (A) are from an Asset Sale and are reinvested in assets customarily used or useful in a Permitted Business, or other assets directly related thereto Business within the succeeding two hundred seventy (270) day period following the receipt of Net Proceeds (Asset Sales) of any such Asset Sale (or (B) are from an insurance or condemnation proceeding and are reinvested in any Permitted Business or other assets directly related thereto if, within the succeeding such two hundred seventy (270) day period; and provided further, that so long as (i) no Default or Event of Default shall have occurred and be continuing and (ii) the Borrower and its Subsidiaries are and will be in pro forma compliance with Section 7.8, both before and after giving effect or such Restricted Subsidiary enters into a legally binding commitment to such reinvest the Net Proceeds (Asset Sales), no prepayment shall be required on the first $30,000,000 date that is the earlier of (1) three hundred fifty five (355) days after the date of the receipt of Net Proceeds (Asset Sales) during the term of this Agreement that are not reinvested pursuant to clause (A) such Asset Sale or (B2) five (5) Business Days prior to any date of payment of, or requirement to offer to purchase, any Junior Securities with such proceeds), as applicable. Repayments under this Section 2.6(b)(iii) shall be applied first, pro rata, to the principal of the Term B-2 Loan B and, if applicable, the Incremental Facility Term Loans (applied to reduce, on a pro rata basis, reduce the remaining next four scheduled principal installments of the Term B-2 Loan B and, if applicable, the Incremental Facility LoansTerm Loans in direct order of maturity, then to the remaining scheduled principal installments on a pro rata basis (other than the payment of principal due on the Maturity Date of the applicable Term Loan) and then to the payment of principal due on the Maturity Date of the applicable Term Loan) and, second pro rata to the outstanding principal amount of the Initial Revolving LoansLoans and Swingline Loans and, if applicable, Additional Revolving Loans (in each case without a reduction in the related Commitments). Accrued interest on the principal amount of the Loans being repaid pursuant to this Section 2.6(b)(iii) to the date of such repayment (together with any additional amount owing under Section 2.9) will be paid by the Borrower concurrently with such principal repayment. Notwithstanding the forgoing, if any New Securities are secured by a pari passu Lien on any Collateral, then the Borrower may, to the extent required pursuant to the documentation governing such New Securities, prepay Term Loans and purchase such New Securities (at a purchase price no greater than par plus accrued and unpaid interest) on a pro rata basis in accordance with the respective outstanding principal amounts of the Term Loans and such New Securities as of the time of the applicable Net Cash Proceeds (Asset Sales).
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Repayments From Net Proceeds of Asset Sales or Insurance or Condemnation Proceedings. Within three (3) Business Days following the date of receipt by the Borrower or any of its Subsidiaries of any Net Proceeds (Asset Sales) (other than in connection with Asset Sales permitted under Section 7.4(a)(i))) , the Loans shall be automatically and permanently prepaid in an amount equal to, in the aggregate, one-hundred percent (100%) of any Net Proceeds (Asset Sales); providedprovided , howeverhowever , that no prepayment under this Section 2.6(b)(iii) shall occur if such Net Proceeds (Asset Sales) (A) are from an Asset Sale and are reinvested in a Permitted Business, or other assets directly related thereto within the succeeding two hundred seventy (270) day period or (B) are from an insurance or condemnation proceeding and are reinvested in any Permitted Business or other assets directly related thereto within the succeeding two hundred seventy (270) day period; and provided furtherfurther , that so long as (i) no Default or Event of Default shall have occurred and be continuing and (ii) the Borrower and its Subsidiaries are and will be in pro forma compliance with Section 7.87.8 , both before and after giving effect to such Asset Sales, no prepayment shall be required on with respect to any Asset Sale (or series of related Asset Sales) consummated after the first First Amendment Effective Date that does not result in more than $30,000,000 75,000 of Net Proceeds (Asset Sales) during up to an aggregate amount of $2,000,000 of Net Proceeds (Asset Sales) for all Asset Sales consummated after the term of this Agreement that are not reinvested pursuant to clause (A) or (B), as applicableFirst Amendment Effective Date. Repayments under this Section 2.6(b)(iii) shall be applied firstfirst , pro ratarata , to the principal of the Term Loan B and, if applicable, the Incremental Facility Loans (applied to reduce, on a pro rata basis, the remaining scheduled principal installments of the Term Loan B and, if applicable, the Incremental Facility Loans) and, second to the outstanding principal amount of the Revolving Loans. Accrued interest on the principal amount of the Loans being repaid pursuant to this Section 2.6(b)(iii) to the date of such repayment (together with any additional amount owing under Section 2.92.9 ) will be paid by the Borrower concurrently with such principal repayment.”
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Repayments From Net Proceeds of Asset Sales or Insurance or Condemnation Proceedings. Within three (3) Business Days following the date of receipt by the Borrower or any of its Restricted Subsidiaries of any Net Proceeds (Asset Sales) (other than in connection with Asset Sales permitted under Section 7.4(a)(i7.4(a)(ii)), (iii) or (xii) and Asset Sales not otherwise permitted hereunder, the Loans shall be automatically and permanently prepaid in an amount equal to, in the aggregate, one-hundred percent (100%) of any Net Proceeds (Asset Sales)) to the extent that the aggregate amount of such Net Proceeds (Asset Sales) exceed $10,000,000 during the term of this Agreement; provided, however, that no prepayment under this Section 2.6(b)(iii) shall occur be required if such Net Proceeds (Asset Sales) are from (A) are from an Asset Sale and are reinvested in a Permitted Business, or other assets directly related thereto within the succeeding two hundred seventy (270) day period or (B) are from an insurance or condemnation proceeding and are reinvested in any Permitted Business or other assets directly related thereto within the succeeding two hundred seventy (270) day period (or if, within such two hundred seventy (270) day period; and provided further, that so long as (i) no Default or Event of Default shall have occurred and be continuing and (ii) the Borrower and its Subsidiaries are and will be in pro forma compliance with Section 7.8, both before and after giving effect or such Restricted Subsidiary enters into a legally binding commitment to such Asset Sales, no prepayment shall be required on reinvest the first $30,000,000 of Net Proceeds (Asset Sales) during with respect to such insurance or condemnation proceeding, the term date that is the earlier of this Agreement that are not reinvested pursuant (1) three hundred fifty five (355) days after the date of such insurance or condemnation proceeding or (2) five (5) Business Days prior to clause (Aany date of payment of, or requirement to offer to purchase, any Junior Securities with such proceeds) or (B) Asset Sales which are reinvested in assets customarily used or useful in a Permitted Business within the two hundred seventy (270) day period following any such Asset Sale (or if, within such two hundred seventy (270) day period, the Borrower or such Restricted Subsidiary enters into a legally binding commitment to reinvest the Net Proceeds (Asset Sales), as applicablethe date that is the earlier of (1) three hundred fifty five (355) days after the date of such Asset Sale or (2) five (5) Business Days prior to any date of payment of, or requirement to offer to purchase, any Junior Securities with such proceeds). Repayments under this Section 2.6(b)(iii) shall be applied first, pro rata, to the principal of the Initial Term Loan B and, if applicable, the Incremental Facility Term Loans (applied to reduce, on a pro rata basis, reduce the remaining next four scheduled principal installments of the Initial Term Loan B and, if applicable, the Incremental Facility LoansTerm Loans in direct order of maturity and then to the remaining scheduled principal installments on a pro rata basis) and, second pro rata to the outstanding principal amount of the Revolving Loans and Swingline Loans. Accrued interest on the principal amount of the Loans being repaid pursuant to this Section 2.6(b)(iii) to the date of such repayment (together with any additional amount owing under Section 2.9) will be paid by the Borrower concurrently with such principal repayment. Notwithstanding the forgoing, if any New Securities are secured by a pari passu Lien on any Collateral, then the Borrower may, to the extent required pursuant to the documentation governing such New Securities, prepay Term Loans and purchase such New Securities (at a purchase price no greater than par plus accrued and unpaid interest) on a pro rata basis in accordance with the respective outstanding principal amounts of the Term Loans and such New Securities as of the time of the applicable Net Cash Proceeds (Asset Sales).
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