Excess Collateral Proceeds definition

Excess Collateral Proceeds shall have the meaning provided in Section 4.1(a)(ii).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Excess Collateral Proceeds. 411 “Declined Collateral Excess Proceeds” 411 “Parent Guarantee” Term 1401 411 “Parent Guaranteed Obligations” “Excess Other Proceeds” 1401 411 “Permanent Regulation S Global Notes” 201 415 “Permitted Payment” “Excess Proceeds” 409 “Declined Excess Proceeds” 411 “Physical Notes” “Covenant Defeasance” 201 411 “Predecessor Holdings” “Expiration Date” 1410 108 “Private Placement Legend” 203 1203 “Refinancing Agreement” “Financial Incurrence Tests” 410 “Declined Other Excess Proceeds” 121 67 1010271152v11010271152_5.doc 201 “Subsidiary Guaranteed Obligations” 1301 Defined in Section “Successor Company” “Reporting Date” 501 “Regulation S Global Notes” 405 “Successor Holding Company” 1410 201 “Suspended Covenants” “Restricted Payment” 416 409 “Suspension Date” 416 “Suspension Period” “Reversion Time” 416 “Regulation S Note Exchange Date” 416 “Temporary Regulation S Global Notes” “Refunding Capital Stock” 201 313 “Total Leverage Ratio Tested Committed Amount” “Rule 144A Global Notes” 407 Term 201 “Treasury Capital Stock” 409 409 “Trustee” “Rule 144A Physical Notes” 1205 “Regulation S Physical Notes” Section 103. Rules of Construction. For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: (1) the terms defined in this Indenture have the meanings assigned to them in this Indenture; (2) “or” is not exclusive; (3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP; (4) the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision; (5) all references to “$” or “dollars” shall refer to the lawful currency of the United States of America; (6) the words “include,” “included” and “including,” as used herein, shall be deemed in each case to be followed by the phrase “without limitation,” if not expressly followed by such phrase or the phrase “but not limited to”; (7) words in the singular include the plural, and words in the plural include the singular; 201

Excess Collateral Proceeds means the net proceeds available to Owners, from the sale or refinancing of any Property, solely after (a) the repayment of any non-Affiliate debt encumbering any such property, (b) the payment of all reasonable and customary closing costs and expenses to unaffiliated third parties and/or, subject to compliance with Section 6(f)(viii) of the Guaranty, to KBS Capital Advisors LLC, and (c) the payment of any customary and reasonable holdback escrow amounts where the buyer and seller have agreed to hold certain funds in a post-closing escrow account (provided that such escrow amounts shall be deemed Excess Collateral Proceeds once such amounts become available to the applicable Owner or its Affiliates).

Examples of Excess Collateral Proceeds in a sentence

• Upon completion of such Collateral Disposition Offer, the amount of Excess Collateral Proceeds shall be reset at zero.

• Notwithstanding anything to the contrary in the foregoing, the Company, at its option, may make a Collateral Disposition Offer with Net Proceeds from Asset Dispositions or Recovery Events in respect of Notes Collateral that are not deemed Excess Collateral Proceeds (an “Optional Collateral Disposition Offer”) pursuant to clause (iii) of subsection (d) at any time following consummation of a Notes Collateral Asset Disposition.

• The Company may satisfy the foregoing obligations with respect to any Net Available Cash from an Asset Disposition by making a Collateral Disposition Offer with respect to all Net Available Cash prior to the expiration of the relevant 450 days (or such longer period provided above) or with respect to any unapplied Excess Collateral Proceeds.

• To the extent that the aggregate amount of Notes so validly tendered and not properly withdrawn pursuant to a Collateral Disposition Offer (together with, if required by the terms of any other Pari Passu Notes-TLB Obligations, the amount of Pari Passu Notes-TLB Obligations tendered pursuant to any similar requirement), is less than the Excess Collateral Proceeds, the Issuers may use any remaining Excess Collateral Proceeds for any purpose not otherwise prohibited by the Indenture.

• If the aggregate principal amount of Notes surrendered by Holders and Additional First Lien Indebtedness tendered into such Collateral Disposition Offer exceeds the amount of Excess Collateral Proceeds, the Notes and Additional First Lien Indebtedness to be purchased shall be selected on a pro rata basis.

• Upon completion of each Collateral Sale Offer, the amount of Excess Collateral Proceeds will be reset at zero.

• Upon completion of any Collateral Disposition Offer, the amount of Excess Collateral Proceeds shall be reset at zero.

• Upon consummation or expiration of any Collateral Disposition Offer, any remaining Net Available Cash shall not be deemed Excess Collateral Proceeds and the Company may use such Net Available Cash for any purpose not prohibited by this Indenture.

• The Balance Sheet presents fairly in accordance with GAAP the financial position of PICKSAT as of July 31, 1999, except that there are no footnotes to said Balance Sheet.

• To the extent that the aggregate amount of Notes and Pari Passu Lien Obligations so validly tendered and not properly withdrawn pursuant to a Collateral Disposition Offer is less than the Excess Collateral Proceeds, the Company may use any remaining Excess Collateral Proceeds for any purpose not prohibited by this Indenture.

More Definitions of Excess Collateral Proceeds

Excess Collateral Proceeds has the meaning specified in Section 7.08(a)(v).

Excess Collateral Proceeds as defined in Subsection 8.4(b)(ii). 32 “Excess Other Proceeds”: as defined in Subsection 8.4(c)(ii). “Excess Proceeds”: as defined in Subsection 8.4(c)(ii). “Exchange Act”: the Securities Exchange Act of 1934, as amended from time to time. “Excluded Affiliate”: as defined in Subsection 11.1(k). “Excluded Assets”: as defined in the Guarantee and Collateral Agreement. “Excluded Contribution”: Net Cash Proceeds, or the Fair Market Value (as of the date of contribution, issuance or sale) of property or assets, received by the Borrower as capital contributions to the Borrower after the Closing Date or from the issuance or sale (other than to a Restricted Subsidiary) of Capital Stock (other than Disqualified Stock or Designated Preferred Stock) of the Borrower, in each case to the extent designated as an Excluded Contribution pursuant to a certificate of a Responsible Officer of the Borrower and not previously included in the calculation set forth in Subsection 8.2(a)(3)(B)(x) for purposes of determining whether a Restricted Payment may be made. “Excluded Information”: as defined in Subsection 4.4(l)(i). “Excluded Liability”: any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive. “Excluded Taxes”: (a) any Taxes measured by or imposed upon the net income (however denominated) of any Agent or Lender or its applicable lending office, or any branch or affiliate thereof, and all franchise Taxes, branch profits Taxes, Taxes on doing business or Taxes measured by or imposed upon the overall capital or net worth of any such Agent or Lender or its applicable lending office, or any branch or affiliate thereof, in each case imposed: (i) by the jurisdiction under the laws of which such Agent or Lender, applicable lending office, branch or affiliate is organized or is located, or in which its principal executive office is located, or any nation within which such jurisdiction is located or any political subdivision thereof; or (ii) by reason of any connection between the jurisdiction imposing such Tax and such Agent or Lender, applicable lending office, branch or affiliate other than a connection arising solely from such Agent or Lender having executed, delivered or performed its obligations under, or received payment under or enforced, this Agreement or any Notes, and (b) any Tax imposed under FATCA. “Exempt S...

Excess Collateral Proceeds means the net sale proceeds received in respect of Collateral in excess of the amount necessary to repay in full in cash all of the Term Obligations and all of the Second Lien Obligations.

Excess Collateral Proceeds. When the aggregate amount of Excess Collateral Proceeds exceeds $30.0 million, the Co-Issuers will make an offer (a “Collateral Sale Offer”) to all Holders to purchase the maximum principal amount of Notes that may be required to be purchased out of the Excess Collateral Proceeds (the “Excess Collateral Proceeds Payment Amount”). The offer price for the Notes in any Collateral Sale Offer will be (i) in the case of any Asset Sale involving Collateral consisting entirely of Collateral other than Pledged Share Collateral, equal to 100% of principal amount of the Notes plus accrued and unpaid interest thereon, if any, to the date of purchase (the “Collateral Sale Offered Price”), and will be payable in cash and (ii) in the case of any Asset Sale involving Pledged Share Collateral, equal to the then applicable redemption price of the notes as set forth in Section 5 below, plus accrued and unpaid interest thereon, if any, to the date of purchase, and will be payable in cash. If any Excess Collateral Proceeds remain after consummation of a Collateral Sale Offer, those Excess Collateral Proceeds shall be retained as Trust Monies. If the aggregate principal amount of Notes tendered into such Collateral Sale Offer exceeds the amount of Excess Collateral Proceeds (or, in the case of any Asset Sale involving Pledged Share Collateral, exceeds the principal amount of notes that can be purchased with such Excess Collateral Proceeds at the then applicable offer price described in clause (ii) of the second preceding sentence), the Trustee will select the Notes to be purchased on a pro rata basis. Upon completion of each Collateral Sale Offer, the amount of Excess Collateral Proceeds will be reset at zero. The Co-Issuers may elect to satisfy their obligations to make a Collateral Sale Offer prior to the expiration of the relevant period or with respect to Excess Collateral Proceeds of $30.0 million or less.

Excess Collateral Proceeds has the meaning assigned to such term in Section 6.04(b).