Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or any Subsidiary of Borrower for a period which materially adversely affects Borrower’s or such Subsidiary’s capacity to continue its business on a profitable basis; or Borrower or any Subsidiary of Borrower shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower 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 Borrower or any Subsidiary of Borrower 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 3 contracts
Samples: Loan and Security Agreement (Pw Eagle Inc), Loan and Security Agreement (Pw Eagle Inc), Loan and Security Agreement (Pw Eagle Inc)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or Borrower, any Subsidiary of Borrower or any Guarantor for a period which materially adversely significantly affects Borrower’s 's or such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower Guarantor 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 Borrower or any Subsidiary of Borrower Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation.
Appears in 3 contracts
Samples: Loan and Security Agreement (Union Drilling Inc), Loan and Security Agreement (Joule Inc), Loan and Security Agreement (Media Sciences International Inc)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or Borrower, any Subsidiary of Borrower or any Guarantor for a period which materially adversely significantly affects Borrower’s or such SubsidiaryGuarantor’s capacity to continue its business business, on a profitable basis; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower Guarantor 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 Borrower or any Subsidiary of Borrower Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation.
Appears in 2 contracts
Samples: Loan and Security Agreement (Iwt Tesoro Corp), Loan and Security Agreement (Iwt Tesoro Corp)
Business Disruption; Condemnation. There shall occur a cessation of a substantial material part of the business of Borrower or Borrower, any Subsidiary of Borrower or any Guarantor for a period which materially adversely significantly affects Borrower’s 's or such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower Guarantor 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 Borrower or any Subsidiary of Borrower Guarantor leases, uses or occupies any Property shall be canceled or terminated by the other party 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 shall be impaired through condemnation.
Appears in 2 contracts
Samples: Term Loan Agreement (Drypers Corp), Credit Agreement (Drypers Corp)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or Borrower, any Subsidiary of Borrower or any Guarantor for a period which materially adversely significantly affects Borrower’s 's, such Subsidiary's or such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower Borrower, such Subsidiary or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor 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 Borrower or Borrower, any Subsidiary of Borrower or any Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation.
Appears in 2 contracts
Samples: Loan and Security Agreement (Black Warrior Wireline Corp), Loan and Security Agreement (Black Warrior Wireline Corp)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Borrower, any Subsidiary of any Borrower or any Subsidiary of Borrower Guarantor for a period which materially adversely significantly affects such Borrower’s 's or such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or any Borrower, any Subsidiary of any Borrower or any Subsidiary of Borrower Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Borrower or such Guarantor which could reasonably be expected to have a Material Adverse Effect; or any Borrower or any Subsidiary of Borrower which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower Guarantor 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 any Subsidiary of Borrower Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.
Appears in 2 contracts
Samples: Loan and Security Agreement (Advanced Technical Products Inc), Loan and Security Agreement (Advanced Technical Products Inc)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or any Subsidiary of Borrower for a period which materially adversely significantly affects Borrower’s 's or such Subsidiary’s 's capacity to continue its business business, on a profitable basis; or Borrower or any Subsidiary of Borrower shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any such Subsidiary of Borrower which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower 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 Borrower or any Subsidiary of Borrower 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnationcondemnation and the fair market value of such Collateral exceeds Fifty Thousand Dollars ($50,000).
Appears in 1 contract
Samples: Loan and Security Agreement (Industrial Data Systems Corp)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Borrower, any Subsidiary of any Borrower or any Subsidiary of Borrower Guarantor for a period which materially adversely significantly affects such Borrower’s 's or such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or any Borrower, any Subsidiary of any Borrower or any Subsidiary of Borrower Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by any Borrower or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or any Borrower or any Subsidiary of Borrower Guarantor 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 any Subsidiary of Borrower Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation; and with respect to the occurrence of any of the above such events, Lender determines, in its sole discretion, that such occurrence may affect the ability of the Borrowers and Guarantors to repay the Obligations when due and payable.
Appears in 1 contract
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or Borrower, any Subsidiary of Borrower or any Guarantor, if any, for a period which materially adversely significantly affects Borrower’s 's or any such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower Guarantor 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 Borrower or any Subsidiary of Borrower Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation.
Appears in 1 contract
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or any Borrower, any Subsidiary of any Borrower for a period which materially adversely significantly affects such Borrower’s 's or such Subsidiary’s 's capacity to continue its business business, on a profitable basis; or any Borrower or any Subsidiary of any Borrower shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Borrower or any such Subsidiary of Borrower which is necessary to the continued or lawful operation of its business; or any Borrower or any Subsidiary of Borrower 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 any Subsidiary of any Borrower 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 part 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 (Bayard Drilling Technologies Inc)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or Borrower, any Subsidiary of Borrower for a period which materially adversely significantly affects Borrower’s 's or such Subsidiary’s 's capacity to continue its business business, on a profitable basis; or Borrower or any Subsidiary of Borrower shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Borrower or any such Subsidiary of Borrower which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower 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 Borrower or any Subsidiary of Borrower 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 part 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 (Bayard Drilling Technologies 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 any Subsidiary of Borrower Guarantor for a period which materially adversely significantly affects such Borrower’s 's or such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or any Borrower, any Subsidiary of any Borrower or any Subsidiary of Borrower Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by any Borrower or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or any Borrower or any Subsidiary of Borrower Guarantor 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 any Subsidiary of Borrower Guarantor 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 part 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 (Integra Lifesciences Corp)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or Borrower, any Subsidiary of Borrower or any Guarantor for a period which materially adversely significantly affects Borrower’s 's or such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor 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 Borrower or Borrower, any Subsidiary of Borrower or any Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation. Change in Control. A Change in Control shall occur.
Appears in 1 contract
Samples: Loan and Security Agreement (KVH Industries Inc \De\)
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or any Subsidiary of Borrower Guarantor for a period which materially adversely significantly affects Borrower’s 's or such Subsidiary’s Guarantor's capacity to continue its business business, on a profitable basis; or Borrower or any Subsidiary of Borrower Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower Guarantor which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower Guarantor 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 Borrower or any Subsidiary of Borrower Guarantor leases, uses or occupies any Property shall be canceled or terminated prior to the expiration of its stated term, except any such lease term and not concurrently replaced by Borrower or agreement the cancellation or termination of which could not reasonably be expected to have a Material Adverse EffectGuarantor; or any material portion part 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 (Financial Performance Corp)
Business Disruption; Condemnation. There shall occur a --------------------------------- cessation of a substantial part of the business of Borrower or Borrower, any Subsidiary of Borrower or any Guarantor for a period which materially adversely affects Borrower’s or such Subsidiary’s capacity may be reasonably expected to continue its business on have a profitable basisMaterial Adverse Effect; or Borrower or Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower such Guarantor which is necessary to the continued or lawful operation of its business; or Borrower or any Subsidiary of Borrower Guarantor 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 Borrower or any Subsidiary of Borrower Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.
Appears in 1 contract
Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or Parent, Borrower, any Subsidiary of Borrower or any Guarantor for a period which materially adversely significantly affects Borrower’s or such Subsidiary’s Person's capacity to continue its business business, on a profitable basis; or Borrower or Parent, Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by Borrower or any Subsidiary of Borrower such Person which is necessary to the continued or lawful operation of its business; or Parent, Borrower or any Subsidiary of Borrower Guarantor 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 Parent, Borrower or any Subsidiary of Borrower Guarantor 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 part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation.
Appears in 1 contract