Disposal Proceeds Clause Samples

Disposal Proceeds. The Contractor shall credit the net proceeds from the disposal of Government property to the price or cost of work covered by this contract or to the Government as the Contracting Officer directs.

Disposal Proceeds. As directed by the Contracting Officer, the Contractor shall credit the net proceeds from the disposal of Contractor inventory to the contract, or to the Treasury of the United States as miscellaneous receipts.

Disposal Proceeds. Subject to Clause 3.2 (Rolled Loan – restrictions), if any Disposal Proceeds are required to be applied (or offered to be applied) in mandatory prepayment or redemption of the Credit Facility Liabilities or the Pari Passu Debt Liabilities then those Disposal Proceeds shall be applied (or, if relevant, offered and then applied, if required) in accordance with the Debt Documents and the consent of any other Party shall not be required for that application or offer.

Disposal Proceeds. If any Disposal Proceeds are required to be applied in mandatory prepayment of the Credit Facility Liabilities or the Pari Passu Debt Liabilities then those Disposal Proceeds shall be applied in accordance with the Debt Documents and the consent of any other Party shall not be required for that application.

Disposal Proceeds. If any Disposal Proceeds are required to be applied in mandatory prepayment of the Senior Facility Liabilities and/or Bond Liabilities then those Disposal Proceeds shall be applied in or towards Payment of the Senior Facility Liabilities and/or Bond Liabilities in accordance with the terms of the Senior Facilities Agreement, and/or Bond Terms (as applicable) and the consent of any other Party shall not be required for that application.

Disposal Proceeds. (a) Upon the occurrence of a Disposal: (i) the Obligors’ Agent shall as soon as reasonably practicable notify the Facility Agent upon becoming aware of that event; and (ii) any Borrower shall apply all Disposal Proceeds or cause all Disposal Proceeds to be applied towards the prepayment of the relevant Loans within fourteen (14) days following the receipt of such Disposal Proceeds in the order of application contemplated by Clause 9.8 (Application of prepayments).

Disposal Proceeds. If any Disposal Proceeds are required to be applied in mandatory prepayment of the Pari Passu Liabilities then those Disposal Proceeds shall be applied pro rata across the Pari Passu Liabilities unless the Instructing Group otherwise agrees in writing and the consent of any other Party shall not be required for that application.

Disposal Proceeds. If any Disposal Proceeds are required to be applied in mandatory prepayment of the Senior Liabilities then those Disposal Proceeds shall be applied in or towards Payment of: (a) first, any sums owing to the Security Agent (including, any legal or other professional advisers’ fees, costs or disbursements and all related taxes incurred thereon by the Security Agent), any Receiver or any Delegate under the Debt Documents; (b) second, if applicable, the Senior Liabilities in accordance with the terms of the Senior Loan Agreement or any New Financing Equivalent and the consent of any other Party shall not be required for that application.

Disposal Proceeds. (a) The Company shall use any amounts of Disposal Proceeds and Permitted Securitisation Proceeds (together, “Relevant Disposal Proceeds”) to: (i) repay or prepay the Facilities in accordance with Clause 7 (Repayment) or Clause 9.5 (Voluntary prepayment of Loans) respectively or otherwise pursuant to the terms of this Agreement; (ii) repay or prepay any Financial Indebtedness of the CEMEX Group (including any scheduled amortisation payments) where the tenor of such Financial Indebtedness is less than one year from the date of such repayment or prepayment, save unless a member of the CEMEX Group is required to prepay or repay any indebtedness with such proceeds (in which case they shall be so used and this tenor requirement shall not apply); (iii) if, having used its reasonable endeavours to procure an amendment to any capital markets indebtedness of the Group outstanding on the Third Amendment Date to reflect the terms of the financial covenants contained in Clause 22 (Financial covenants), it has been unable to do so and is therefore required to prepay such indebtedness, make such prepayment; or (iv) if, during any financial year of the Company in which Relevant Disposal Proceeds are received, the Company determines that it will require funds during that financial year to meet its obligations falling due in the ordinary course of its business (after taking into account any cash available to the Group or to be received by the Group during such period and not required to meet any specific obligations during such period) retain such Relevant Disposal Proceeds and apply them towards such obligations, provided that: (i) the maximum amount of Relevant Disposal Proceeds that may be retained in this way in any financial year of the Company, when aggregated with all Relevant Disposal Proceeds retained in this way in such financial year shall not exceed the lower of (1) US$200 million (or its equivalent in other currencies) and (2) 20 per cent. of the aggregate Relevant Disposal Proceeds which have been received by the Company or any member of the Group in that financial year of the Company; and (ii) if any Relevant Disposal Proceeds are retained in this way and not in fact used to meet obligations falling due in the ordinary course of its business referred to above in the financial year of the Company in which such Relevant Disposal Proceeds are received, the amount which has not been so applied shall be applied promptly by the Company for one or more of the purpos...