Common use of Delivery of Proceeds Clause in Contracts

Delivery of Proceeds. The Parent, the Borrower, the Subsidiaries, the Austin Partnership and RAM, as applicable and required in §§4.2, 4.3, 4.4 and 4.5 above, shall deliver to the Administrative Agent, promptly upon receipt thereof, all Net Cash Sale Proceeds, Net Cash Debt Issuance Proceeds, Net Cash Equity Issuance Proceeds and Extraordinary Receipts that may have to be applied to prepay the Loans if not reinvested (or used to replace, rebuild or repair, in the case of Extraordinary Receipts constituting casualty insurance), in each case as permitted in §§4.2, 4.3, 4.4 and 4.5 (as applicable at such time), and any cash reserves in connection with an Asset Swap or Asset Sale that were deducted from Net Cash Sale Proceeds, to be held as Collateral (in an interest bearing account) pending reinvestment in accordance with such §§4.2, 4.3, 4.4 and 4.5 or, in the case of such reserves, pending an application or conversion into Net Cash Sale Proceeds. Upon the Borrower’s request, any cash amounts delivered to the Administrative Agent to be held as Collateral under this §4.7 may be applied to repay Revolving Credit Loans, provided that an amount of the Total Revolving Credit Commitment equal to the amount so repaid may not be reborrowed until after or simultaneously with the final application of such amounts so delivered to the Administrative Agent.