Collateral Disposition Proceeds definition

Collateral Disposition Proceeds means, with respect to an Asset, the net proceeds received by an Obligor from the Collateral Disposition of such Asset.
Sample 1Sample 2Sample 3
Collateral Disposition Proceeds means (a) with respect to any Collateral Disposition involving a sale of a Mortgaged Rig, the gross proceeds thereof received by the Borrower or Guarantor selling such Mortgaged Rig less the reasonable fees, taxes and expenses paid by such Person that are directly related to such sale and (b) with respect to any Collateral Disposition involving a Total Loss of a Mortgaged Rig, the proceeds of any insurance proceeds, condemnation award or other compensation paid or payable to the Borrower, any Guarantor or the Collateral Agent in respect of such Total Loss less the reasonable fees, taxes and expenses paid to collect such proceeds.
Sample 1Sample 2
Collateral Disposition Proceeds means, with respect to any of the Collateral (other than the sale of Timber in accordance with clause (m) of Section 7.1.11) sold, leased, transferred or otherwise disposed of (whether voluntarily or involuntarily, or under power of eminent domain, condemnation or otherwise), the greater of (a) the allocated cost basis of such Collateral as set forth in Item 1.1(a) (“Cost Basis of Collateral”) of the Disclosure Schedule (it being understood that, if less than the relevant tract of the Collateral as set forth in the Disclosure Schedule is so disposed of, the cost basis of such tract so disposed of shall be determined by the Administrative Agent) or (b) the result of (i) the gross cash proceeds received by any of the Borrowers or any other Loan Party with respect to such Collateral (including any cash payments received by way of a deferred payment of principal pursuant to a permitted note or installment receivable or otherwise, but only when and as received) minus (ii) (A) all reasonable and customary fees and expenses actually paid in cash by the Borrowers or any other Loan Parties in connection with such disposition which have not been paid to any Loan Party or their Affiliates and (B) all taxes actually paid or reasonably estimated by a Borrower (determined in good faith by a Financial Officer) to be payable in cash with respect to the same year with respect to any such disposition; provided, however, that if, after the payment of all taxes with respect to such disposition, the amount of estimated taxes, if any, pursuant to clause (ii) exceeded the amount actually paid in cash in respect of such disposition, the aggregate amount of such excess shall be promptly payable, pursuant to clause (b) of Section 3.1.2, as Collateral Disposition Proceeds.
Sample 1

Examples of Collateral Disposition Proceeds in a sentence

  • Any Portfolio Collateral purchased with Collections (other than Collateral Disposition Proceeds) in accordance with the terms of the Indenture.

  • Accrued interest may be treated as Collateral Disposition Proceeds (y) to the extent necessary to pay for the principal amount of or accrued interest on Substitute Portfolio Collateral if the item of sold Portfolio Collateral paid interest before, and in the same Due Period as, the date of sale or (z) to the extent such amounts are Purchased Accrued Interest treated as Collateral Principal Collections hereunder.

  • For the avoidance of doubt, until the aggregate amount of Cost Basis Collateral Disposition Proceeds exceeds $4,000,000 in any fiscal year and so long as clause (x) of the preceding sentence is satisfied, Cost Basis Collateral Disposition Proceeds shall be deposited into the Revenue Account for further deposit into the Receipt Account and application in accordance with the Receipt Waterfall and clause (y) of the preceding sentence.

  • Pending the final application of any Net Proceeds (other than Net Proceeds held in the Collateral Disposition Proceeds Account), the Company or any such Restricted Subsidiary may temporarily reduce revolving credit borrowings or otherwise invest the Net Proceeds in any manner that is not prohibited by this Indenture.

  • All Casualty Proceeds or Collateral Disposition Proceeds received by such Loan Party or the Collateral Agent as a result of a Casualty Event or Collateral Disposition shall be applied in accordance with the requirements of Sections 2.07(c)(iii) or (iv), as the case may be.

  • Notwithstanding the foregoing, if a Mortgaged Revolving Credit Facility Rig is affected by a Casualty Event or a Collateral Disposition, the Borrower shall, or shall cause the Guarantor who owns such affected Mortgaged Revolving Credit Facility Rig, to either make all necessary repairs and replacements to such affected Mortgaged Revolving Credit Facility Rig or apply the Casualty Proceeds or Collateral Disposition Proceeds therefrom as provided in Clause 10.2(b) or (c), as the case may be.

  • The Borrowers shall apply 100% of any Cost Basis Collateral Disposition Proceeds, Collateral Insurance Proceeds, LTC Lease Disposition Proceeds and Timber Lease Termination Proceeds (except as specified below) to prepay the outstanding principal amount of the Term Loans and any Incremental Term Loans.

  • Notwithstanding the foregoing, if a Mortgaged Term Loan Facility Rig is affected by a Casualty Event or a Collateral Disposition, the Borrower shall, or shall cause the Guarantor who owns such affected Mortgaged Term Loan Facility Rig, to either make all necessary repairs and replacements to such affected Mortgaged Term Loan Facility Rig or apply the Casualty Proceeds or Collateral Disposition Proceeds therefrom as provided in Section 2.6(c)(ii) or (iii), as the case may be.

  • Notwithstanding the foregoing, if a Rig is affected by a Casualty Event or a Collateral Disposition, the applicable Borrower shall either make all necessary repairs and replacements to such affected Rig or apply the Casualty Proceeds or Collateral Disposition Proceeds therefrom as provided in Section 2.07(c)(iii) or (iv), as the case may be.

  • Xxxxx HBU shall cause and direct all amounts that are payable to it, including lease revenues, Net Collateral Disposition Proceeds in excess of Cost Basis Collateral Disposition Proceeds and all other revenues from the ownership and operation of the Collateral to be deposited directly in the form received into the Revenue Account.


More Definitions of Collateral Disposition Proceeds

Collateral Disposition Proceeds means all Collateral Disposition Proceeds (as defined in the Senior Credit Agreement as in effect on the date hereof) that have been paid on account of any of the Senior Priority Collateral.
Sample 1
Collateral Disposition Proceeds means (a) with respect to any Collateral Disposition involving a sale, transfer, contribution or other disposition of a Mortgaged Term Loan Facility Rig, the gross proceeds thereof received by any Credit Party less the reasonable fees, taxes and expenses paid by such Person that are directly related to such sale and the amount of reserves, if any, recorded in accordance with GAAP for indemnity or other obligations of the Parent Company and its Subsidiaries directly related to such sale or the Mortgaged Term Loan Facility Rig and (b) with respect to any Collateral Disposition involving a Total Loss of a Mortgaged Term Loan Facility Rig, the proceeds of any insurance proceeds, condemnation award or other compensation paid or payable to any Credit Party or the Collateral Agent in respect of such Total Loss less the reasonable fees, taxes and expenses paid to collect such proceeds and the amount of reserves, if any, recorded in accordance with GAAP for indemnity or other obligations of the Parent Company and its Subsidiaries directly related to such sale or the Mortgaged Term Loan Facility Rig.
Sample 1
Collateral Disposition Proceeds means (a) with respect to any Collateral Disposition involving an Asset Disposition of a Rig, the gross proceeds thereof received by any Loan Party less the reasonable fees, taxes and expenses paid by such Person that are directly related to such Asset Disposition and the amount of reserves, if any, recorded in accordance with GAAP for indemnity or other obligations of the Parent or any of its Subsidiaries directly related to such Asset Disposition of the Rig and (b) with respect to any Collateral Disposition involving a Total Loss of a Rig, the proceeds of any insurance proceeds, condemnation award or other compensation paid or payable to any Loan Party or the Collateral Agent in respect of such Total Loss less the reasonable fees, taxes and expenses paid to collect such proceeds and the amount of reserves, if any, recorded in accordance with GAAP for indemnity or other obligations of the Parent or any of its Subsidiaries directly related to such sale of the Rig.
Sample 1
Collateral Disposition Proceeds means (a) with respect to any Collateral Disposition involving a sale, transfer, contribution or other disposition of a Mortgaged Revolving Credit Facility Rig, the gross proceeds thereof received by any Credit Party less the reasonable fees, taxes and expenses paid by such Person that are directly related to such sale and the amount of reserves, if any, recorded in accordance with GAAP for indemnity or other obligations of the Parent Company and its Subsidiaries directly related to such sale or the Mortgaged Revolving Credit Facility Rig and (b) with respect to any Collateral Disposition involving a Total Loss of a Mortgaged Revolving Credit Facility Rig, the proceeds of any insurance proceeds, condemnation award or other compensation paid or payable to any Credit Party or the Collateral Agent in respect of such Total Loss less the reasonable fees, taxes and expenses paid to collect such proceeds and the amount of reserves, if any, recorded in accordance with GAAP for indemnity or other obligations of the Parent Company and its Subsidiaries directly related to such sale or the Mortgaged Revolving Credit Facility Rig.
Sample 1

Related to Collateral Disposition Proceeds

  • Collateral Disposition means (i) the sale, lease, transfer or other disposition of the Vessel by the Borrower to any Person (it being understood that a Permitted Chartering Arrangement is not a Collateral Disposition) or the sale of 100% of the Capital Stock of the Borrower or (ii) any Event of Loss of the Vessel.

  • Disposition Proceeds means, with respect to each Non-Program Vehicle, the net proceeds from the sale or disposition of such Non-Program Vehicle to any Person (other than any portion of such proceeds payable by the Lessee thereof pursuant to the Lease).

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Excluded Asset Disposition means, with respect to any Consolidated Party, any Asset Disposition consisting of (i) the sale, lease, license, transfer or other disposition of inventory or other assets in the ordinary course of such Consolidated Party's business, (ii) the sale, lease, license, transfer or other disposition of Property no longer used or useful in the conduct of such Consolidated Party's business, (iii) any Involuntary Disposition by such Consolidated Party, (iv) any sale, lease, license, transfer or other disposition of Property by such Consolidated Party to any Credit Party, PROVIDED that the Credit Parties shall cause to be executed and delivered such documents, instruments and certificates as the Agent may reasonably request so as to cause the Credit Parties to be in compliance with the terms of Section 7.12 after giving effect to such transaction, (v) any portion of an Asset Disposition by such Consolidated Party constituting a Permitted Investment, (vi) if such Consolidated Party is not a Credit Party, any sale, lease, license, transfer or other disposition of Property by such Consolidated Party to any Consolidated Party that is not a Credit Party, (vii) the sale or disposition of Cash Equivalents for fair market value, (viii) any sale of accounts receivable in connection with the compromise thereof, (ix) the assignment of past due accounts for collection or (x) the licensing of Intellectual Property to third Persons on customary terms as determined by the licensor's board of directors in good faith; PROVIDED, HOWEVER, that the term "Excluded Asset Disposition" shall not include any Asset Disposition to the extent of the portion of the proceeds of such Asset Disposition that would be required under any Junior Financing Documentation to be applied to permanently retire Indebtedness of the Consolidated Parties.

  • Asset Sale Proceeds means, with respect to any Asset Sale,

  • from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise and proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other noncash form), in each case net of:

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Asset Disposition means any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) by the Company or any Restricted Subsidiary, including any disposition by means of a merger, consolidation or similar transaction (each referred to for the purposes of this definition as a "disposition"), of:

  • Permitted Asset Disposition means (i) any Asset Disposition permitted by Section 8.5 and (ii) any Excluded Asset Disposition.

  • Prepayment Asset Sale means any Disposition by the Borrower or its Restricted Subsidiaries made pursuant to Section 6.07(h).

  • Final disposition means the burial, interment, cremation, removal from the state, or other disposition of a dead body or fetus.

  • Principal Proceeds means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including unapplied proceeds of the Advances and any amounts received by the Borrower as equity contributions (howsoever designated).

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Permitted Asset Dispositions means the following Asset Dispositions:

  • Excluded Proceeds means, with respect to any Asset Sale or Casualty Event, the sum of, (1) any Net Proceeds therefrom that constitute Declined Proceeds and (2) any Net Proceeds therefrom that otherwise are waived by the Required Facility Lenders from the requirement to be applied to prepay the applicable Term Loans pursuant to Section 2.05(2)(b).

  • Liquidation Proceeds Amounts, including Insurance Proceeds, received in connection with the partial or complete liquidation of defaulted Mortgage Loans, whether through trustee's sale, foreclosure sale or otherwise or amounts received in connection with any condemnation or partial release of a Mortgaged Property and any other proceeds received in connection with an REO Property, less the sum of related unreimbursed Servicing Fees and Advances.

  • Recovery Event any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating to any asset of any Group Member.

  • Retained Asset Sale Proceeds shall have the meaning provided in Section 10.4.

  • Collateral Proceeds Account a non-interest bearing cash collateral account established and maintained by the relevant Grantor at an office of the Collateral Account Bank in the name, and in the sole dominion and control of, the Collateral Agent for the benefit of the Secured Parties.

  • Noncash proceeds means proceeds other than cash proceeds.

  • Equity Issuance Proceeds means, with respect to any Equity Issuance, all cash and cash equivalent investments received by any Restricted Entity from such Equity Issuance (other than from any other Credit Party) after payment of, or provision for, all underwriter fees and expenses, SEC and blue sky fees, printing costs, fees and expenses of accountants, lawyers and other professional advisors, brokerage commissions and other out-of-pocket fees and expenses actually incurred by any Restricted Entity in connection with such Equity Issuance.

  • Asset Sale Proceeds Account means one or more deposit accounts or securities accounts holding only the proceeds of any sale or disposition of any Notes Collateral.

  • Major Asset Disposition means the sale or other disposition in one transaction or a series of related transactions of 50% or more of the assets of the Company and its subsidiaries on a consolidated basis; and any specified percentage or portion of the assets of the Company shall be based on fair market value, as determined by a majority of the members of the Incumbent Board;