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Specified Asset Sale Proceeds definition

Specified Asset Sale Proceeds means the Net Cash Proceeds of any Prepayment Asset Sale not required to be applied to prepay the Term Loans, which Net Cash Proceeds have not otherwise been reinvested in accordance with Section 2.05(b)(ii) or used to prepay any Other Pari Indebtedness.
Specified Asset Sale Proceeds means the aggregate amount of Net Proceeds of any Disposition or Casualty Event that are not required to be applied to prepay Term Loans pursuant to Section 2.05(b)(ii).
Specified Asset Sale Proceeds means the sum of the Net Proceeds received since the Effective Date by or on behalf of Bidco or any of the Restricted Subsidiaries in respect of any Prepayment Event described in clause (a) of the definition thereof that exceeds such amount required to be applied to prepay the Term Loans or be reinvested pursuant to Section 2.10(c).

Examples of Specified Asset Sale Proceeds in a sentence

  • For the avoidance of doubt, the Specified Asset Sale Proceeds and Permitted Reinvestment Sale Proceeds shall be utilized in accordance with the Budget covenant set forth in Section 6.22, including the Permitted Variances, in all respects.

  • For the avoidance of doubt, the Specified Asset Sale Proceeds shall be utilized in accordance with the Budget covenant set forth in Section 9.01 in all respects.

  • For the avoidance of doubt, the Specified Asset Sale Proceeds shall be utilized in accordance with the Budget covenant set forth in Section 5.23 in all respects.

  • Without duplication, the Aggregate Revolving Commitment shall be permanently reduced by the Specified Asset Sale Proceeds Amount; provided, that no more than $50,000,000 of reductions in the aggregate shall be required as a result of Specified Asset Sales.


More Definitions of Specified Asset Sale Proceeds

Specified Asset Sale Proceeds means the aggregate amount of net cash proceeds (determined in a manner consistent with the definition of “Net Cash Proceeds”) from Prepayment Asset Sales and Casualty Events that are not required to be applied to prepay Term Loans pursuant to Section 2.06(b) as a result of such proceeds not constituting Net Cash Proceeds as a result of the proviso to clause (a) of the definition thereof. “Specified Disposition” means any sale, transfer or other disposition, or series of related sales, transfers or other dispositions (other than (x) in the ordinary course of business or (y) among the Borrower and its Restricted Subsidiaries), that involves assets comprising all or substantially all of an operating unit of a business or common Equity Interests of any Person, in each case owned by any Restricted Company. “Specified Event of Default” means an Event of Default resulting from Section 8.01(a) and Section 8.01(f) (with respect to the Borrower). “Specified Financial Statements” means, the audited consolidated and combined balance sheets of the Target and its Subsidiaries as of December 31, 2017 and the related consolidated and combined statements of operations and comprehensive loss, members’ equity and cash flows for the year ended December 31, 2017. “Specified Representations” means the representations and warranties of the Loan Parties set forth in Sections 5.01(a) (solely as it relates to the Loan Parties), 5.01(b)(ii), 5.02
Specified Asset Sale Proceeds means the Net Cash Proceeds of Asset Sales that are designated as “Specified Asset Sale Proceeds” by the Borrower in a notice to the Administrative Agent (which notice shall identify the Asset Sale to which such Net Cash Proceeds relate and the amount of the Net Cash Proceeds thereof that are to be so designated) prior to the last day of the Reinvestment Period applicable to the related Asset Sale, provided that the aggregate amount of Net Cash Proceeds designated as Specified Asset Sale Proceeds, when taken together with the aggregate principal amount of Incremental Term Loans made and Incremental Term Loan Commitments established (without duplication) pursuant to Section 2.19, shall not exceed $20,000,000, provided further, that in order to be designated as Specified Asset Sale Proceeds hereunder, such Net Cash Proceeds must be designated as “Specified Asset Sale Proceeds” under the Second Lien Credit Agreement.
Specified Asset Sale Proceeds shall have the meaning assigned to such term in Section 2.12(b).
Specified Asset Sale Proceeds means aggregate Net Proceeds from Asset Sales in the form of any Production Payments and Reserve Sales and Sale Leaseback Transactions.
Specified Asset Sale Proceeds means cash proceeds from one or more Dispositions in an amount not to exceed $50,000,000 in the aggregate since the Closing Date.
Specified Asset Sale Proceeds means aggregate Net Proceeds from Specified Asset Sales.
Specified Asset Sale Proceeds means any proceeds from any sale or other Disposition of any assets or property of, or the Equity Interests of, the Canadian Borrower and its Subsidiaries (a “Specified Asset Sale”) that are received by the Lead Borrower or any of its Subsidiaries that are designated as “Specified Asset Sale Proceeds” pursuant to a certificate signed by a Responsible Officer of Lead Borrower prior to the distribution thereof pursuant to Section 6.08 (which such designation, for the avoidance of doubt, the Lead Borrower may elect to remove or modify at any time prior to the distribution thereof); provided that (i) the Consolidated EBITDA attributable to such assets or property subject to such sale or other Disposition (together with the assets or property sold in any prior sale or other Disposition the proceeds of which, or part thereof, constituted Specified Asset Sale Proceeds pursuant to this clause) shall not exceed 50% of Consolidated EBITDA and (ii) on a Pro Forma Basis after giving effect to any Specified Asset Sale and any application of Net Proceeds therefrom, the First Lien Net Leverage Ratio shall not be greater than 4.50:1.00 (with compliance determined, at the Lead Borrower’s option, at the time of such sale, at the time of the entry into a binding agreement in respect of such sale, or at the time of the application of Net Proceeds therefrom (which application of Net Proceeds may, at the Lead Borrower’s option, be made at any time on or prior to the last day of the second full fiscal quarter ending after the consummation of such sale), in each case for the Test Period most recently ended, and in each case on a Pro Forma Basis); provided further that, at the Lead Borrower’s option, to the extent combined consolidated financial statements of the Lead Borrower and the other Group Members for the trailing twelve month period are