Sales of VGTs or Equipment Sample Clauses

Sales of VGTs or Equipment. Upon receipt of the proceeds of the sale or other disposition of any VGTs, Redemption Machines or other Equipment owned by Accel Inc. and/or any Loan Party after the date hereof, or if any such VGTs, Redemption Machines or Equipment are damaged, destroyed or taken by condemnation in whole or in part, the proceeds thereof shall be remitted to Borrower and paid by Borrower to Administrative Agent as a mandatory prepayment of the Term Loan, such payment to be applied against the remaining installments of principal on a pro rata basis until repaid in full, and then against the Revolving Loans until repaid in full and finally against the other Obligations, in the order set forth in Section 15.2; provided, however, that the foregoing mandatory repayment obligation shall not apply: (i) in the event the proceeds of such sale or disposition are reinvested into the business operations of Accel Inc. and/or the other Loan Parties within 90 days after such sale or disposition in a manner reasonably satisfactory to Administrative Agent; or (ii) in connection with the sale or disposition of VGTs, Redemption Machines and other Equipment financed by third parties.
Sample 1
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Sales of VGTs or Equipment. Upon receipt of the proceeds of the sale or other disposition of any VGTs, Redemption Machines or other Equipment owned by Borrower after the date hereof, or if any such VGTs, Redemption Machines or Equipment are damaged, destroyed or taken by condemnation in whole or in part, the proceeds thereof shall be paid by Borrower to Administrative Agent as a mandatory prepayment of the Term Loan, such payment to be applied against the remaining installments of principal on a pro rata basis until repaid in full, and then against the Revolving Loans until repaid in full and finally against the other Obligations, in the order set forth in Section 15.2; provided, however, that the foregoing mandatory repayment obligation shall not apply: (i) in the event the proceeds of such sale or disposition are reinvested into Borrower’s business operations within 90 days after such sale or disposition in a manner reasonably satisfactory to Administrative Agent; or (ii) in connection with the sale or disposition of VGTs, Redemption Machines and other Equipment financed by third parties.
Sample 1

Related to Sales of VGTs or Equipment

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  • Inventory To the extent Inventory held for sale or lease has been produced by any Borrower, it has been and will be produced by such Borrower in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder.

  • Packaging Materials and Containers for Retail Sale 1. When packaging materials and containers in which a good is packaged for retail sales are classified in the Harmonized System with the good, they shall not be taken into account in determining whether all non-originating materials used in the production of the good undergo the applicable change in tariff classification set out in Annex 4.03. 2. When the good is subject to a requirement of regional value content, the value of these packaging materials and containers shall be taken into account as originating or non-originating materials, as the case may be, in calculating the regional value content of the good.

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  • PAYMENT FOR GOODS AND SERVICES a. DIR Customer shall comply with Chapter 2251, Texas Government Code, or applicable local law, in making payments to the Vendor. Payment under a DIR Contract shall not foreclose the right to recover wrongful payments. b. Payments must be made in accordance with laws and procedures applicable to DIR Customer. c. DIR Customer agrees to pay the rates and/or prices set by DIR with its vendors. DIR Customer understands these rates and/or prices include a DIR administrative fee. d. All purchases executed under a DIR Contract will require a DIR Customer purchase order.

  • Equipment and Tools 40.01 The Employer will make available all necessary tools and equipment it requires for the performance of work assignments at no cost to the employees. Such tools and equipment will remain the property of the Employer and the employees will be required to take reasonable care of this property and may be required to sign out certain equipment and tools.

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