Recovery Event. To the extent of cash proceeds received in connection with a Recovery Event which are not applied in accordance with Section 6.5(a)(ii), immediately following the 180th day occurring after the receipt by a Credit Party of such cash proceeds, the Borrower shall notify the Administrative Agent thereof and prepay the Loans in an aggregate amount equal to one-hundred percent (100%) of such cash proceeds to the Lenders (such prepayment to be applied as set forth in clause (vi) below).
Appears in 2 contracts
Sources: Credit Agreement (Sleepmaster LLC), Credit Agreement (Lower Road Associates LLC)
Recovery Event. To the extent of cash proceeds received in connection with a Recovery Event which are not applied in accordance with Section 6.5(a)(ii), immediately following the 180th day occurring after the receipt by a Credit Consolidated Party of such cash proceeds, the Borrower shall notify the Administrative Agent thereof and prepay the Loans in an aggregate amount equal to one-hundred percent (100%) % of such cash proceeds to the Lenders (such prepayment to be applied as set forth in clause (vi) below).
Appears in 1 contract
Sources: Credit Agreement (Right Management Consultants Inc)
Recovery Event. To the extent of cash proceeds received in connection with a Recovery Event which are not applied in accordance with Section 6.5(a)(ii), immediately following the 180th day occurring after the receipt by a Credit Party of such cash proceeds, the Borrower shall notify the Administrative Agent thereof and prepay the Loans in an aggregate amount equal to one-hundred percent (100%) of such cash proceeds to the Lenders (such prepayment to be applied as set forth in clause (viv) below).
Appears in 1 contract
Recovery Event. To the extent of cash proceeds received in connection with a Recovery Event which are not applied in accordance with Section 6.5(a)(ii), immediately following the 180th day occurring after the receipt by a Credit Party of such cash proceeds, the Borrower shall notify the Administrative Agent thereof and prepay the Loans in an aggregate amount equal to one-hundred percent (100%) of such cash proceeds to the Administrative Agent to be distributed to the Lenders (such prepayment to be applied as set forth in clause (vi) below).
Appears in 1 contract
Sources: Credit Agreement (Sleepmaster LLC)