Designated Asset Sale Proceeds means net cash proceeds in an aggregate amount not to exceed $100,000,000 received by the Borrower or any Restricted Subsidiary from the sale, transfer, lease or other disposition of any asset or assets so designated as Designated Asset Sale Proceeds pursuant to an Officers’ Certificate delivered to the Agent on or prior to the date on which such asset or assets are sold.
Designated Asset Sale Proceeds means the Net Proceeds payable to the Loan Parties from the sale, transfer, lease or other disposition of assets or property, other than any sale or other disposition permitted by clause (i), (ii), (iv) or (v) of Section 5.02(c).
Designated Asset Sale Proceeds means the aggregate amount of the proceeds and/or in-kind consideration (collectively, the “Proceeds”) that are received by the Issuer or any of its Subsidiaries from the Designated Asset Sale; provided such Proceeds shall be “Designated Asset Sale Proceeds” only to the extent that the Consolidated Net Leverage Ratio is less than or equal to 6.00 to 1.00, with the Consolidated Net Leverage Ratio measured after giving pro forma effect to (a) the Designated Asset Sale, (b) any actual or anticipated repayment, prepayments or retirement of Indebtedness with all or a portion of such Proceeds (or the application of all or a portion of such Proceeds to any applicable cash netting provisions) and (c) to the extent reasonably expected by the Issuer to be made within 90 days of the date of the consummation of the Designated Asset Sale, any Restricted Payments made by the Issuer of Distributable Asset Sale Proceeds pursuant to clause (25) of Section 4.07(b); with it being agreed that the Consolidated Net Leverage Ratio shall be measured, at the Issuer’s option, either at (A) the time of the consummation of the Designated Asset Sale or (B) the time of the entry into a definitive agreement in respect of the Designated Asset Sale. For purposes of calculating the Consolidated Net Leverage Ratio in accordance with this definition, at the Issuer’s election, any offer to repurchase Notes made in accordance with this Indenture shall be given pro forma effect as a repayment of Indebtedness assuming the Holders of the Notes fully accept such offer (and for the avoidance of doubt in such case any Designated Asset Sale Proceeds used to make such offer to repurchase shall not constitute Remaining Proceeds for purposes of this Indenture).
Examples of Designated Asset Sale Proceeds in a sentence
Thus, § 2.01(c)(i)(A), in relevant part, provides:[A] specified amount of the funds on deposit in the Designated Asset Sale Proceeds Account (x) will be used .
Prior to the Final Hearing and the Court’s entry of the Final Cash Collateral Order, the Debtors shall not be authorized to use the Designated Asset Sale Proceeds.
Indebtedness that represents a transfer of Designated Asset Sale Proceeds, that neither the principal of, nor interest on, such Indebtedness may be paid until the Secured Obligations are paid in full or otherwise satisfied.
The Company shall be required to effectuate a Special Redemption only (i) if the aggregate amount of Designated Asset Sale Proceeds that have not been applied to repay or prepay the ABL Facility are greater than $5.0 million; and (ii) to the extent the Special Redemption is permitted by the ABL Facility.
As of the Petition Date, approximately$400.0 million of Cash Collateral (the “Designated Asset Sale Proceeds”) was on deposit in a blocked account (the “Designated Asset Sale Proceeds Account”) at Union Bank of California, N.A. pursuant to the Designated Asset Sale Proceeds Account Control Agreement, dated as of July 16, 2003, among Calpine, Union Bank of California, N.A. and The Bank of New York.
More Definitions of Designated Asset Sale Proceeds
Designated Asset Sale Proceeds means, for
Designated Asset Sale Proceeds. 3.09 “DTC” 2.03 “Event of Default” 6.01
Designated Asset Sale Proceeds means, for _ any fiscal year of Borrower, the Net Proceeds payable _ to Borrower and its Subsidiaries (to the extent of _ Borrower's ownership interest therein) from the sale of _ assets (including the direct or indirect sale of any _ stock or other Equity Securities of any Subsidiary) _ during such year, other than any sale permitted by _ CLAUSE (I), (II), (III), (IV), (VI) OR (IX) OF _ SUBPARAGRAPH 5.02(C) or any license permitted by CLAUSE _ (V) OF SUBPARAGRAPH 5.02(C). _ _ "FIXED CHARGE COVERAGE RATIO" shall mean, with _ respect to any Person for any period, the ratio, _ determined on a consolidated basis in accordance with _ GAAP where applicable, of; _ _
Designated Asset Sale Proceeds means (a) Net Asset Sale Proceeds received by the Company or any Subsidiary in respect of an Asset Sale (other than an Asset Sale that relates to the Specified Assets Held for Sale), which (i) not later than the 330th day following the consummation of the applicable Asset Sale are so designated by the Company or such Subsidiary, as the case may be, pursuant to a notice (a "Designated Asset Sale Notice") delivered to the Administrative Agent specifying the amount thereof, the Permitted Acquisition to which such Net Asset Sale Proceeds will be applied and the amount of any Permitted Acquisition Indebtedness to be incurred in connection therewith and (ii) are, within 365 days of the date of receipt thereof applied to consummate the Permitted Acquisition specified in such Designated Asset Sale Notice in the amount so specified and (b) Net Asset Sale Proceeds from Asset Sales that relate to the Specified Assets Held for Sale.
Designated Asset Sale Proceeds means, for any fiscal year of the Borrower, the Net Proceeds payable to the Borrower or its Subsidiaries from the sale of assets (including the direct or indirect sale of any stock or other Equity Securities of any Subsidiary of the Borrower) or as a result of any loss, destruction, damage or other casualty of or to, or any condemnation, eminent domain or other similar proceedings, in respect of, any assets or properties of the Borrower or any of its Subsidiaries during such year, other than any sale permitted by Section 5.02(c)(i)-(iv); provided, however, that any amount of such Net Proceeds set aside as a reserve established in good faith by the Borrower for indemnity or other potential claims in connection with any such sale shall not be considered Designated Asset Sale Proceeds until any unused reserves are no longer maintained in connection with such sale.
Designated Asset Sale Proceeds means, for any fiscal year of Borrower, the Net Proceeds payable to Borrower and its Subsidiaries (to the extent of Borrower's ownership interest
Designated Asset Sale Proceeds shall have the meaning ascribed to that term in Section 8.29(b).