Certain Proceeds of Asset Sales. If during any fiscal year of the Borrowers, the Loan Parties have received cumulative Net Cash Proceeds during such fiscal year from one or more Asset Sales of at least $10,000,000 made pursuant to Section 7.02(c), not later than the third Business Day following the date of receipt of any Cash Proceeds in excess of such amount, an amount equal to 100% of the Net Cash Proceeds then received in excess of such amount from any Asset Sale shall be applied as a mandatory prepayment of the Term Loans in accordance with Section 2.13(d) below.
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Sources: Amendment and Restatement Agreement (Gibraltar Industries, Inc.)
Certain Proceeds of Asset Sales. If during any fiscal year of the BorrowersBorrower, the Loan Parties Borrower and its Subsidiaries have received cumulative Net Cash Proceeds during such fiscal year from one or more Asset Sales of at least $10,000,000 made pursuant to Section 7.02(c)10,000,000, not later than the third Business Day following the date of receipt of any Cash Proceeds in excess of such amount, an amount equal to 100% of the Net Cash Proceeds then received in excess of such amount from any Asset Sale shall be applied as a mandatory prepayment of the Term Loans in accordance with Section 2.13(d) below.
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Certain Proceeds of Asset Sales. If during any fiscal year of the Borrowers, the Domestic Loan Parties have received cumulative Net Cash Proceeds during such fiscal year from one or more Asset Sales of at least $10,000,000 made pursuant to Section 7.02(c), not later than the third Business Day following the date of receipt of any Cash Proceeds in excess of such amount, an amount equal to 100% of the Net Cash Proceeds then received in excess of such amount from any Asset Sale shall be applied as a mandatory prepayment of the Term Loans in accordance with Section 2.13(d) below.
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