Designated Asset Sale Proceeds definition

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, for any Fiscal Year of the Borrower, the Net Proceeds payable to the Loan Parties from the sale of assets during such Fiscal Year, other than any sale permitted by clauses (i) or (iv) through (xiii) of Section 5.02(c). "Designated Eurodollar Market" shall mean, with respect to any LIBOR Loan, the London Eurodollar Market.

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

Examples of Designated Asset Sale Proceeds in a sentence

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• As of July 27, BONY had not responded, forcing Wilmington Trust to reiterate its request on that date.In a letter dated August 5, 2005, Kelley Drye requested that BONY, as Collateral Trustee, inform them of withdrawals from the Designated Asset Sale Proceeds Account and that the First Lien Trustee permit no further withdrawals from that Account without prior notice to the counsel for First Lien Noteholders.

• By virtue of this Joinder, the First Lien Notes became “Priority Lien Debt”7 under the Designated Asset Sale Proceeds Control Agreement (the “Control Agreement”) and the Collateral Trust Agreement and were granted senior status in respect to priority of liens and repayment.

• We reiterate our earlier demands that no further disbursements occur from the Designated Asset Sale Proceeds Account other than to pay the [First Lien] Notes.”33 The letter also noted that two proposed transfers were impermissible under the Instruments and that other conditions in the Instruments had not been met.34Three days later, on September 19, BONY refused to release the funds for Calpine’s two requested transfers, dated September 13 and September 16, from the Designated Asset Sale Proceeds Account.

• As already discussed, under § 5.11(b) of the Collateral Trust Agreement, BONY is permitted to refrain from releasing funds from the Designated Asset Sale Proceeds Account in the event of disagreement between the parties and until that disagreement is resolved by the parties or by a court order.

More Definitions of Designated Asset Sale Proceeds

Designated Asset Sale Proceeds. 3.09 “DTC” 2.03 “Event of Default” 6.01

Designated Asset Sale Proceeds shall have the meaning ascribed to that term in Section 8.29(b).

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, 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 (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 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). "DEVELOPMENT AGREEMENTS" shall mean, collectively, the Alton Development Agreement, the Baton Rouge Development Agreement, the Lawrenceburg Development Agreement, the Riverside Development Agreement and the Sioux City Development Agreement.

Designated Asset Sale Proceeds means, for