Shared Proceeds definition

Shared Proceeds means the (a) the Shared Permitted Prepayment Asset Sale Proceeds and (b) Shared Casualty Events Proceeds.
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Shared Proceeds means (i) all Proceeds received from the sale or disposition of all or substantially all of the Collateral, (ii) all Proceeds received from any insurance policy as a result of any casualty event involving the Collateral and which have not been disbursed to the Borrower or its Subsidiaries to be reinvested in replacement assets, (iii) all Proceeds received from the sale or disposition of any Collateral permitted by clauses (b), (f) and (g) of Section 6.17 of the Credit Agreement and clauses (b), (f) and (g) of Section 7.6 of the Note Agreement, and (iv) all Proceeds received from the sale or disposition of any Collateral in violation or breach of the Credit Agreement, the Note Agreement, the Credit Documents or the Financing Documents.
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Shared Proceeds shall have the meaning given in SECTION 3(A).
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Examples of Shared Proceeds in a sentence

  • In addition, no Senior Creditor shall, by virtue of this Agreement, be required to share with any other Senior Creditor any payments or other amounts received from any Credit Party in respect of any indebtedness, liability or obligation of such Credit Party that (i) does not constitute Senior Indebtedness, (ii) does not arise under any agreement or instrument evidencing, governing or guaranteeing any Senior Indebtedness, and (iii) is not included within the definition of Shared Proceeds.

  • PBC, without basis, asserts that the Shared Proceeds mechanism necessarily classifies the proposed Settlement as a sub rosa plan and, again, fails to recognize that any Lender Distributions (i.e., non-estate property) shared with the Distribution Creditors will be collateral proceeds to which PBC does not have a superior right.

  • No Senior Creditor shall, by virtue of this Agreement, be required to share with any other Senior Creditor any payments, prepayments or other amounts received from any Credit Party in respect of the Senior Indebtedness owed to such Senior Creditor, except for the sharing of Shared Proceeds in accordance with the provisions of this Section 3.

  • The Final Allocation shall be adjusted by the Seller (with a copy sent to Buyer) for any subsequent adjustments to the purchase price for the Shares under this Agreement, including any Contingent Payment Amount and any Shared Proceeds Amount, provided that any such adjustment shall be consistent with the Final Allocation.

  • The distribution provisions of this Section 3 are for the purpose of determining the relative amounts of Shared Proceeds to be distributed to the Senior Creditors in respect of the Senior Indebtedness and not for the purpose of creating an agreement among the parties as to the manner in which any proceeds or payments distributed to them are actually to be applied to pay the Senior Indebtedness of any Credit Party.

  • If any Senior Creditor shall receive any Shared Proceeds (any such Shared Proceeds, less any costs and expenses, including, without limitation, attorneys' fees and expenses, incurred by the Noteholders and Agent and the Banks in recovering such Shared Proceeds, is herein referred to as a "Payment to be Shared"), such Senior Creditor shall distribute the Payment to be Shared to the other Senior Creditors in the priority set forth in Section 3(c) hereof.

  • The distribution provisions of this SECTION 3 are for the purpose of determining the relative amounts of Shared Proceeds to be distributed to the Senior Creditors in respect of the Senior Indebtedness and not for the purpose of creating an agreement among the parties as to the manner in which any proceeds or payments distributed to them are actually to be applied to pay the Senior Indebtedness of any Credit Party.

  • If any Senior Creditor shall receive any Shared Proceeds (any such Shared Proceeds, less any costs and expenses, including, without limitation, attorneys' fees and expenses, incurred by any Senior Creditor in recovering such Shared Proceeds, is herein referred to as a "Payment to be Shared"), such Senior Creditor shall distribute the Payment to be Shared to the other Senior Creditors in the priority set forth in SECTION 3(C) hereof.

  • No Senior Creditor shall, by virtue of this Agreement, be required to share with any other Senior Creditor any payments, prepayments or other amounts received from any Credit Party in respect of the Senior Indebtedness owed to such Senior Creditor, except for the sharing of Shared Proceeds in accordance with the provisions of this SECTION 3.


More Definitions of Shared Proceeds

Shared Proceeds means all and any monies, property and other assets representing or deriving from all or any of the Shared Security Property, all or any of the Shared Secured Property and/or under or pursuant to the Shared Security Documents, but excludes (for the avoidance of doubt) all and any monies received or recovered by any Beneficiary which represent costs, expenses, Taxes, losses and liabilities paid, suffered or incurred by that Beneficiary and in respect of which that Beneficiary is entitled, under or pursuant to any Transaction Document, to be indemnified by any Xxxxx Group Member;
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Shared Proceeds shall have the meaning given in Section 3(a).
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Shared Proceeds the meaning specified in Section 4 of the Intercreditor Agreement.
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Shared Proceeds means (i) all Proceeds received from the sale or disposition of all or substantially all of the Collateral, (ii) all Proceeds received from any insurance policy as a result of any casualty event involving the Collateral and which shall not have been disbursed to the Company to be reinvested in replacement assets and (iii) all Proceeds received from the sale or disposition of any Collateral in violation or breach of the Note Purchase Agreement or the Collateral Documents.
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Related to Shared Proceeds

  • Excluded Proceeds means, with respect to any Asset Sale or Casualty Event, the sum of, (1) any Net Proceeds therefrom that constitute Declined Proceeds and (2) any Net Proceeds therefrom that otherwise are waived by the Required Facility Lenders from the requirement to be applied to prepay the applicable Term Loans pursuant to Section 2.05(2)(b).

  • Declined Proceeds has the meaning assigned to such term in Section 2.11(b)(v).

  • Qualified Proceeds means assets that are used or useful in, or Capital Stock of any Person engaged in, a Permitted Business; provided that the fair market value of any such assets or Capital Stock shall be determined by the Board of Directors of the Company in good faith.

  • Escrowed Proceeds means the proceeds from the offering of any debt securities or other Indebtedness paid into an escrow account with an independent escrow agent on the date of the applicable offering or Incurrence pursuant to escrow arrangements that permit the release of amounts on deposit in such escrow account upon satisfaction of certain conditions or the occurrence of certain events. The term “Escrowed Proceeds” shall include any interest earned on the amounts held in escrow.

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Retained Declined Proceeds has the meaning specified in Section 2.05(b)(v).

  • Disposition Proceeds means, with respect to each Non-Program Vehicle, the net proceeds from the sale or disposition of such Non-Program Vehicle to any Person (other than any portion of such proceeds payable by the Lessee thereof pursuant to the Lease).

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Subject Proceeds has the meaning assigned to such term in Section 2.11(b)(ii).

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Net Loss Proceeds means, with respect to any Event of Loss, the proceeds in the form of (a) cash or Cash Equivalents and (b) insurance proceeds, condemnation awards or damages awarded by any judgment, in each case received by the Company from such Event of Loss net of:

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Retained Asset Sale Proceeds shall have the meaning provided in Section 10.4.

  • Sale Proceeds All proceeds (excluding accrued interest, if any) received with respect to Assets as a result of sales of such Assets in accordance with the restrictions described in Article XII less any reasonable expenses incurred by the Collateral Manager, the Collateral Administrator or the Trustee (other than amounts payable as Administrative Expenses) in connection with such sales. Sale Proceeds will include Principal Financed Accrued Interest received in respect of such sale.

  • Bond Proceeds means the proceeds from the sale of bonds, notes, and other obligations issued by a district, and reserves and funds maintained by a district for debt service purposes.

  • Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.

  • Liquidation Proceeds Amounts, including Insurance Proceeds, received in connection with the partial or complete liquidation of defaulted Mortgage Loans, whether through trustee's sale, foreclosure sale or otherwise or amounts received in connection with any condemnation or partial release of a Mortgaged Property and any other proceeds received in connection with an REO Property, less the sum of related unreimbursed Servicing Fees and Advances.

  • Loss Proceeds means, collectively, all Insurance Proceeds and all Condemnation Proceeds.

  • Asset Sale Proceeds means, with respect to any Asset Sale,

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Third Party Proceeds shall have the meaning set forth in Section 8.9(a).

  • Net Asset Sale Proceeds means, with respect to any Asset Sale, Cash payments (including any Cash received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) received from such Asset Sale, net of any bona fide direct costs incurred in connection with such Asset Sale, including (i) income taxes reasonably estimated to be actually payable within two years of the date of such Asset Sale as a result of any gain recognized in connection with such Asset Sale and (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest on any Indebtedness (other than the Loans) that is secured by a Lien on the stock or assets in question and that is required to be repaid under the terms thereof as a result of such Asset Sale.

  • Noncash proceeds means proceeds other than cash proceeds.

  • Net REO Proceeds As to any REO Mortgage Loan, REO Proceeds net of any related expenses of the Servicer.