Examples of Sale Proceeds in a sentence
If a Replacement Vessel (together with its related assets) does not become Collateral hereunder by the relevant Replacement Date, the Net Sale Proceeds held in the Escrow Account shall be applied as a mandatory prepayment of the Loans.
Each accepted Contribution and Sale Proceeds received in connection with the sale of any Workout Loan or Equity Security will be allocated to the Contribution Account (if Contributions were used to acquire such Workout Loan or Equity Security as specified in Section 1.3(t) (Assumptions as to Assets)).
In the event that the Net Sale Proceeds exceed the purchase price of the Replacement Vessel (in the case of the foregoing clause (x)) or the Fair Market Value of the Replacement Vessel (in the case of the foregoing clause (y)), such excess Net Sale Proceeds shall be applied as a mandatory prepayment of the Loans until the Minimum Value Percentage is not less than the Minimum Value Percentage immediately prior to the sale of the Sold Vessel.