Asset Disposition Prepayment Event definition

Asset Disposition Prepayment Event means, with respect to any Asset Disposition other than an Excluded Asset Disposition, the failure of the Borrower to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to the purchase, acquisition or construction of Eligible Assets during the Application Period for such Asset Disposition.

Asset Disposition Prepayment Event means, with respect to any Asset Disposition other than an Excluded Asset Disposition, the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition.

Asset Disposition Prepayment Event is defined in Section 8.8(a).

Examples of Asset Disposition Prepayment Event in a sentence

• Immediately upon the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Asset Disposition not applied (or caused to be applied) by the Credit Parties during the related Application Period to make Eligible Reinvestments as contemplated by the terms of Section 8.5(g) (such prepayment to be applied as set forth in clause (vi) below).

• Without limiting the foregoing sentence, to the extent that any obligation to make a mandatory prepayment of the loans arises from an Asset Disposition Prepayment Event of the type described in clause (ii) of the definition thereof, the Revolving U.S. Committed Amount shall be permanently reduced in an amount equal to the U.S. Dollar Amount of such prepayment.

• Immediately upon the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Asset Disposition not applied (or caused to be applied) by the Credit Parties during the related Application Period to make Eligible Reinvestments as contemplated by the terms of Section 8.5(f) (such prepayment to be applied as set forth in clause (vi) below).

• Without limiting the foregoing sentence, to the extent that any obligation to make a mandatory prepayment of the loans arises from an Asset Disposition Prepayment Event of the type described in clause (ii) of the definition thereof, the Revolving Canadian Committed Amount shall be permanently reduced in an amount equal to the Canadian Dollar Equivalent of such prepayment.

• Immediately upon the occurrence of any Asset Disposition Prepayment Event, the Borrower shall prepay the Loans in an aggregate amount equal to 100% of the Net Cash Proceeds of the related Asset Disposition not applied (or caused to be applied) by the Consolidated Parties during the related Application Period to the purchase, acquisition or construction of Eligible Assets as contemplated by the terms of Section 8.5(e) (such prepayment to be applied as set forth in clause (vii) below).

More Definitions of Asset Disposition Prepayment Event

Asset Disposition Prepayment Event means, (i) with respect to any Asset Disposition other than an Excluded Asset Disposition or an Acquired Non-Core Asset Disposition, the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition and (ii) the occurrence of an Acquired Non-Core Asset Disposition.

Asset Disposition Prepayment Event means, without duplication, (i) with respect to any Asset Disposition (other than an Excluded Asset Disposition) occurring on any date, if any, on which the Applicable Percentage is based on "Pricing Level IV" or "Pricing Level V", the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition and (ii) as long as the U.S. Term Loan is outstanding, the date five (5) Business Days prior to the date on which a failure of the Credit Parties to have applied the Net Cash Proceeds from any "Asset Sale" (or any comparable term) under, and as defined in, any Junior Financing Documentation in such a manner as to not create an obligation of Airgas to offer to purchase any Subordinated Debt with any such Net Cash Proceeds.

Asset Disposition Prepayment Event set forth in Section 1.1 of the Existing Credit Agreement is hereby amended in its entirety to read as follows:

Asset Disposition Prepayment Event means, with respect to any Asset ---------------------------------- Disposition, the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition to the extent such Net Cash Proceeds exceed $5,000,000.

Asset Disposition Prepayment Event means, with respect to any Asset Disposition, the failure of the Borrower to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition to Eligible Reinvestments during the Application Period for such Asset Disposition to the extent such Net Cash Proceeds exceed $10,000,000.

Asset Disposition Prepayment Event means, with respect to any Asset Disposition other than an Excluded Asset Disposition (i) the date thirty (30) Business Days following a Non-Excluded Asset Disposition and (ii) the failure of the Credit Parties to apply (or cause to be applied) the Net Cash Proceeds of such Asset Disposition (other than a Non-Excluded Asset Disposition)to Eligible Reinvestments during the Application Period for such Asset Disposition.

Asset Disposition Prepayment Event. Application Period", "Capital Stock", "Collateral", "Collateral Documents", "Debt Issuance", "Domestic Subsidiary", "Eligible Reinvestment", "Equity Issuance", "Excess Proceeds", "Excluded Asset Disposition", "Excluded Equity Issuance", "Excluded Property", "Foreign Subsidiary", "Guarantors", "Involuntary Disposition", "Joinder Agreement", "Lien", "Material Foreign Subsidiary", "Mortgaged Instruments", "Mortgaged Properties", "Mortgaged Policies", "Net Cash Proceeds", "Permitted Asset Disposition", "Permitted Liens", "Pledge Agreement", "Property", "Security Agreement", "Subsidiary", "Subsidiary Guarantor" and "Tranche A Obligations" set forth in Section 1.1, (2) Sections 3.3(a), 3.3(b)(iii)-(vi),3.15(b), 4, 7.6(b), 7.12, 7.13, 8.2, 8.5 or 9.1(e) or (3) any of the Collateral Documents, and (B) neither this Credit Agreement nor any other Credit Document may be amended, changed, waived, discharged or terminated so as to (1) except as the result of or in connection with a Permitted Asset Disposition, release any of the Collateral, (2) except as the result of or in connection with a dissolution, merger or disposition of a Consolidated Party not prohibited by Section 8.4 or Section 8.5, release the Borrower or any of the other Credit Parties from its or their obligations under the Credit Documents or (3) consent to the assignment or transfer by the Borrower or any of the other Credit Parties of any of its or their rights and obligations under (or in respect of) the Credit Documents except as permitted thereby;