Extraordinary Proceeds means: (a) the aggregate cash proceeds received by the Operating Company or any Project Company in respect of any sale of an interest in a Project or Joint Venture; (b) any cash proceeds received by the Operating Company or any Project Company with respect to the incurrence or issuance of any Indebtedness by the Operating Company or such Project Company; and (c) the cash proceeds (other than proceeds from business interruption insurance) received by the Operating Company or any Project Company from any (i) event which causes any material property or asset owned by the Operating Company or any Project Company to be damaged, destroyed or rendered unfit for normal use or (ii) compulsory transfer or taking, or transfer under threat of compulsory transfer or taking, of any material property or asset owned by the Operating Company or any Project Company, by any governmental authority.
Extraordinary Proceeds means any sums of money paid upon or in respect of, or property distributed in respect of, any Pledged Equity Interests upon the recapitalization, merger, consolidation or other change in structure of HEP or the reorganization, liquidation or dissolution of HEP or constituting an extraordinary distribution with respect to the Pledged Equity Interests.
Extraordinary Proceeds means Net Cash Proceeds received by Parent Guarantor or its Subsidiaries from an Extraordinary Proceeds Event, provided that if such Extraordinary Proceeds Event is an Asset Sale such Net Cash Proceeds shall be calculated net of prepayments the applicable Subsidiary is required to make pursuant to the terms of Debt documentation applicable to such Subsidiary and listed on Schedule 8(d) to the Guaranty Agreement.
Examples of Extraordinary Proceeds in a sentence
Nothing in this Section 2.07(a) shall be deemed to imply that any of the activities or actions described in clauses (ii) or (iii) of the definition of Extraordinary Proceeds are permitted under this Agreement other than as specifically set forth in this Agreement.
Pledgor shall take all actions and execute and deliver such documents and agreements (including, without limitation, account control agreements) as Secured Party may reasonably require to perfect its security interest in such Extraordinary Proceeds.
If required, insurance will be placed by Exhibitor at Exhibitor’s own expense.
In the event of the Issuer's receipt of Extraordinary Proceeds, promptly following the Prepayment Date, the Issuer shall deliver to each Holder electing to accept the Prepayment Offer a new Note equal in principal amount to any unpurchased portion of the Note surrendered by such Holder.
All proceeds of any disposition of such assets pursuant to clauses (c) and (d) above shall be applied to the prepayment of Loans to the extent required under Section 2.07(a) and shall be deposited into the Extraordinary Proceeds Account pursuant to the Deposit Account Agreement.
More Definitions of Extraordinary Proceeds
Extraordinary Proceeds means any cash received by or paid to or for the account of a Borrower not in the ordinary course of business (but excluding proceeds described in Section 2.04(b)(i) or (ii), proceeds of Equity issuances by Contango, capital infusions by Contango in COI or CEC, and capital infusions by CEC in COI), including amounts received in respect of foreign, United States, state or local tax refunds, pension plan reversions, purchase price and other monetary adjustments made pursuant to any acquisition document and/or indemnification payments made pursuant to any acquisition document (other than such indemnification payments to the extent that the amounts so received are applied by the applicable Borrower for the purpose of replacing, repairing or restoring any assets or properties of such Borrower, thereby satisfying the condition giving rise to the claim for indemnification, or otherwise covering any out-of-pocket expenses incurred by such Borrower in obtaining such payments).
Extraordinary Proceeds means, for any Person for any period, net proceeds received by such Person during such period from (i) issuances of securitization bonds sold by such Person or any of its Subsidiaries plus (ii) sales of assets by such Person or any of its Subsidiaries not in the ordinary course of business plus (iii) the sale or disposition (by way of merger, sale of capital stock, sale of assets or otherwise) of any Subsidiary of such Person. For purposes of the foregoing, all cash received by such Person from, or as a result of the sale or disposition of, a Subsidiary shall be deemed to constitute "Extraordinary Proceeds" up to the amount of proceeds received by, or as a result of the sale or disposition of, such Subsidiary from such issuances and sales during the relevant period, net of underwriting discounts and commissions, costs of sale and other, similar transaction costs.
Extraordinary Proceeds means any distributions or payments received by Issuer (directly or indirectly in respect of any other Subject Company or its assets, properties or receipts) which are not made out of operating cash flow of either Project Company, such as distributions or payments which constitute proceeds of any asset sale, buyout or termination of rights under any contract or other extraordinary transaction; provided that the foregoing shall not include any proceeds of any Equity Cure; and provided that, for the avoidance of doubt, the foregoing shall not include any proceeds resulting from asset sales in accordance with Section 7.4B(i).
Extraordinary Proceeds means any sums of money paid upon or in respect of, or property distributed in respect of, any Pledged Units upon the recapitalization, merger, consolidation or other change in structure of HEP or the reorganization, liquidation or dissolution of HEP or constituting an extraordinary distribution with respect to the Pledged Units. (o) “Fair Market Value of Pledged HEP Units” means the fair market value of the Pledged HEP Units subject to this Pledge Agreement in which Secured Party has a perfected first priority security interest at the time of determination, based on the average closing price of the HEP Units reported by the New York Stock Exchange (or any other exchange or market upon which the HEP Units are principally listed or registered in the event that the HEP Units are no longer listed on the New York Stock Exchange) for the immediately preceding 10 consecutive Business Day period. (p) “HEP General Partner Interest” means the interest of the general partner in HEP that is owned by Pledgor from time to time. (q) “HEP” means Holly Energy Partners, L.P., a Delaware limited partnership and any successors thereto. (r) “HEP Units” means limited partnership units of HEP. For avoidance of doubt, “HEP Units” as used herein does not include any of the HEP General Partner Interests held by Pledgor (or any rights, distributions or proceeds arising out or derived from such HEP General Partner Interests). (s) “Letters of Credit” means the sum of the undrawn amounts of any letters of credit delivered to Secured Party pursuant to any of the Crude Supply Agreements or this Pledge Agreement. (t) “Limited Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of HEP, dated as of July 13, 2004 (as amended, restated, supplemented or otherwise modified from time to time). (u) “Netting Agreement” means that certain Crude Oil and/or Condensate Net-Out Amendment Agreement, dated as of December 1, 2010, between Buyer and Secured Party (as amended, restated, supplemented or otherwise modified from time to time). (v) “Open Credit Limit” means the aggregate amount of unsecured credit extended, if any, to Buyer by Secured Party, as such amount is reasonably determined by Secured Party. (w) “Operating Agreements” means the Limited Partnership Agreement and any other limited partnership agreement or other formation documents and all other agreements, certificates and other documents which from time to time govern the existence, operation and ...
Extraordinary Proceeds means the following cumulative proceeds of the Parent, Issuer and any Subsidiary from any and all of the following in the aggregate, regardless of the timing of receipt of such proceeds:
Extraordinary Proceeds shall have the meaning assigned to that term in the Intercreditor Agreement.
Extraordinary Proceeds means Net Cash Proceeds received by Parent Guarantor or its Subsidiaries (other than by any Excluded Subsidiary) from an Extraordinary Proceeds Event, provided that if such Extraordinary Proceeds Event is an Asset Sale such Net Cash Proceeds shall be calculated net of prepayments the applicable Subsidiary is required to make pursuant to the terms of Debt documentation applicable to such Subsidiary and listed on Schedule 8(d) to the Guaranty Agreement.