Specified Facility definition
Examples of Specified Facility in a sentence
VF shall be entitled to exercise the VF Option at any time during the ninety (90)-day period immediately following the date on which the term of the Specified Facility Lease expires in accordance with its terms (the “VF Option Period”) upon written notice to Kontoor Brands of its desire to exercise the VF Option (such notice, the “Exercise Notice” and the date on which such Exercise Notice is sent, the “Exercise Date”).
The Borrower or any Restricted Subsidiary may close or shutdown any Specified Facility with the approval of the Board of Directors of the Borrower, provided that the Borrower shall notify the Collateral Agent in writing of such closure or shutdown at least 30 days in advance of the date on which such closure or shutdown is to be effected.
In connection with any deposit, withdrawal and drawings made on any day which is not a Business Day, funds will be allocated (if applicable) and accrued interest will be credited to the relevant Specified Mortgage Loan Account, Specified Account or (as the case may be) Specified Facility in accordance with the Programme Documents on the next Business Day.
Not later than the third Business Day following the receipt of Net Cash Proceeds (including, without limitation, insurance proceeds and condemnation awards) in respect of any Asset Sale (other than the Anticipated Tower Lease-Back and other than the proceeds from any disposition, pursuant to one or more transactions, of any Specified Facility), the Borrower shall apply 100% of the Net Cash Proceeds received with respect thereto to prepay outstanding Term Loans in accordance with Section 2.13(e).
The Company or any Restricted Subsidiary may close or shutdown any Specified Facility with the approval of the Board of Directors of the Company, provided that the Company shall notify the Trustee in writing of such closure or shutdown at least 30 days in advance of the date on which such closure or shutdown is to be effected.