Common use of Sales Proceeds Clause in Contracts

Sales Proceeds. Apply the proceeds of sales of its fixed or capital assets in excess of a cumulative total of $500,000 at Lender's option, to: (1) the most remote principal installments of the Loan; (2) replacement of the assets sold; (3) a reserve for future purchase of fixed or capital assets; or (4) working capital purposes.

Sales Proceeds. Apply the proceeds of sales of its fixed or capital assets in excess of a cumulative total of $500,000 at Lender's option, to: (1) 6.9.1 the most remote principal installments of the Loan; (2) ; 6.9.2 replacement of the assets sold; (3) ; 6.9.3 a reserve for future purchase of fixed or capital assets; or (4) or 6.9.4 working capital purposes.;

Sales Proceeds. Apply the proceeds of sales of its fixed or capital assets in excess of a cumulative total of $500,000 at Lender's option, to: (1) 5.9.1 the most remote principal installments of the Loan; (2) ; 5.9.2 replacement of the assets sold; (3) ; 5.9.3 a reserve for future purchase of fixed or capital assets; or (4) or 5.9.4 working capital purposes.;