Examples of Cash Proceeds in a sentence
On the date of receipt by any Credit Party or any of its Subsidiaries of any Net Cash Proceeds from the issuance or incurrence of any Indebtedness of any Credit Party or any of its Subsidiaries (other than with respect to any Indebtedness permitted to be incurred pursuant to Section 6.1)Issuance Proceeds, Borrower shall prepay the Term Loans as set forth in Section 2.11(a) and the DOE Loan, Ratably, in an aggregate amount equal to one hundred percent (100%) of such Net CashIssuance Proceeds.
Any Cash Proceeds received by the Collateral Trustee (whether from a Grantor or otherwise) may, in the sole discretion of the Collateral Trustee, (A) be held by the Collateral Trustee for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations (whether matured or unmatured) and/or (B) then or at any time thereafter may be applied by the Collateral Trustee against the Secured Obligations then due and owing.