Common use of Business Disruption; Condemnation Clause in Contracts

Business Disruption; Condemnation. There shall occur --------------------------------- a cessation of a substantial part of the business of any Company Party or any of their Subsidiaries for a period which materially adversely affects such Person's capacity to continue its business on a profitable basis; or any Company Party or any of their Subsidiaries shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Person which is necessary to the continued or lawful operation of its business; or any Company Party or any of their Subsidiaries shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Company Party or any of their Subsidiaries leases, uses or occupies any property shall be canceled or terminated prior to the expiration of its stated term, except any such lease or agreement the cancellation or termination of which could not reasonably be expected to have a Material Adverse Effect; or any material portion of the Collateral shall be taken through condemnation or the value of such property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Securities Purchase Agreement (Falcon Products Inc /De/)

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Business Disruption; Condemnation. There shall occur --------------------------------- a cessation of a substantial part of the business of any Company Party Borrower or any of their its Subsidiaries for a period which materially adversely affects such Person's capacity to continue its business on would have a profitable basisMaterial Adverse Effect; or any Company Party Borrower or any of their its Subsidiaries shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Person Borrower or such Subsidiary which is necessary to the continued or lawful operation of its businessbusiness and which loss or revocation has a Material Adverse Effect; or any Company Party Borrower or any of their its Subsidiaries shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Company Party Borrower or any of their its Subsidiaries leases, uses or occupies any property Property shall be canceled or terminated prior to the expiration of its stated term, except any such lease or agreement the term and which cancellation or termination of which could not reasonably be expected to have has a Material Adverse Effect; or any material portion of the Collateral shall be taken through condemnation or the value of such property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Gentiva Health Services Inc)

Business Disruption; Condemnation. There shall occur --------------------------------- a cessation of a substantial part of the business of any Company Party Borrower or any of their its Subsidiaries for a period which materially adversely affects such Person's capacity to continue its business on would have a profitable basisMaterial Adverse Effect; or any Company Party Borrower or any of their its Subsidiaries shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or such Person Subsidiary which is necessary to the continued or lawful operation of its businessbusiness and which loss or revocation has a Material Adverse Effect; or any Company Party Borrower or any of their its Subsidiaries shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairsaffairs and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Company Party Borrower or any of their its Subsidiaries leases, uses or occupies any property Property shall be canceled or terminated prior to the expiration of its stated term, except any such lease or agreement the cancellation term and which loss or termination of which could not reasonably be expected to have has a Material Adverse Effect; or any material portion of the Collateral shall be taken through condemnation or the value of such property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Gentiva Health Services Inc)

Business Disruption; Condemnation. There shall occur --------------------------------- a cessation of a substantial part of the business of any Borrower, any Subsidiary of any Borrower or Company Party or any of their Subsidiaries for a period which materially adversely significantly affects such Personany Borrower's or Company's capacity to continue its business business, on a profitable basis; or any Borrower, any Subsidiary of any Borrower or Company Party or any of their Subsidiaries shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Person any Borrower or Company which is necessary to the continued or lawful operation of its business; or any Borrower or Company Party or any of their Subsidiaries shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Borrower or Company Party or any of their Subsidiaries leases, uses or occupies any property Property shall be canceled or terminated prior to the expiration of its stated term, except any such lease or agreement the cancellation or termination of which could not reasonably be expected to have a Material Adverse Effect; or any material portion part of the Collateral shall be taken through condemnation or the value of such property Property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)

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Business Disruption; Condemnation. There shall occur --------------------------------- a cessation of a substantial part of the business of any Company Party Obligor or any of their its Subsidiaries for a period which materially adversely significantly affects such PersonObligor's capacity to continue its business business, on a profitable basis; or any Company Party Obligor or any of their its Subsidiaries shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by or such Person Subsidiaries which is necessary to the continued or lawful operation of its business; or any Company Party such Obligor or any of their such Subsidiaries shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Company Party such Obligor or any of their Subsidiaries such Subsidiary leases, uses or occupies any property Property shall be canceled or terminated prior to the expiration of its stated term, except any such lease or agreement the cancellation or termination of which could not reasonably be expected to have a Material Adverse Effect; or any material portion of any Property of the Collateral Company or any Subsidiary of the Company shall be taken through condemnation or the value of such property Property shall be impaired through condemnation.

Appears in 1 contract

Samples: Securities Purchase Agreement (Eagle Pacific Industries Inc/Mn)

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