Taking and Destruction. Subject to the First Lien Intercreditor Agreement, upon any Taking or Destruction of any Collateral, all Net Insurance Proceeds received by the Issuer or any Restricted Subsidiary shall be deemed Net Proceeds and shall be applied in accordance with Section 4.06.
Appears in 3 contracts
Samples: Indenture (CAESARS ENTERTAINMENT Corp), Indenture (CAESARS ENTERTAINMENT Corp), Indenture (Harrahs Entertainment Inc)
Taking and Destruction. Subject to the First Lien Intercreditor Agreement, upon any Taking or Destruction of any Collateral, all Net Insurance Proceeds received by the Issuer Company or any Restricted Subsidiary shall be deemed included in Net Proceeds to the extent set forth in the definition of “Net Proceeds” and shall be applied in accordance with Section 4.064.06 as if such Net Insurance Proceeds were Net Proceeds of an Asset Sale.
Appears in 2 contracts
Samples: Indenture (Caesars Entertainment, Inc.), Indenture (Caesars Entertainment, Inc.)
Taking and Destruction. Subject to the First Lien Intercreditor Agreement, upon any Taking or Destruction of any Collateral, all Net Insurance Proceeds received by the Issuer or any a Restricted Subsidiary shall be deemed Net Proceeds and shall be applied in accordance with Section 4.064.10.
Appears in 1 contract
Samples: Senior Secured First Lien Notes Indenture (Claires Stores Inc)
Taking and Destruction. Subject to the terms of the First Lien Intercreditor Agreement, upon any Taking or Destruction of any Collateral, all Net Insurance Proceeds received by the any Issuer or any Restricted Subsidiary shall be deemed Net Proceeds and shall be applied in accordance with Section 4.06.
Appears in 1 contract
Samples: Indenture (Vici Properties Inc.)
Taking and Destruction. Subject to the First Lien terms of the Intercreditor Agreement, upon any Taking or Destruction of any Collateral, all Net Insurance Proceeds received by the any Issuer or any Restricted Subsidiary shall be deemed Net Proceeds and shall be applied in accordance with Section 4.06.
Appears in 1 contract
Samples: Indenture (Vici Properties Inc.)
Taking and Destruction. Subject to the First Lien Intercreditor Agreement, upon any Taking or Destruction of any Collateral, all Net Insurance Proceeds received by the any Issuer or any Restricted Subsidiary shall be deemed Net Proceeds and shall be applied in accordance with Section 4.06.
Appears in 1 contract
