Common use of Business Disruption; Condemnation Clause in Contracts

Business Disruption; Condemnation. (i) Any cessation of a substantial part of the business of any Borrower for a period which significantly affects its capacity to continue its business, on a profitable basis such that it is reasonably likely that Borrower will not be in compliance with Financial Covenants contained herein; (ii) the loss of any permits or licenses from any Governmental Authority to operate any of the [anaerobic digester facilities] at full nameplate capacity that continues for a period of 30 days; (iii) 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; (iv) any material lease or agreement pursuant to which Borrower leases, uses or occupies any of its properties shall be canceled or terminated prior to the expiration of its stated term; or (v) any part of the Collateral shall be taken through condemnation or the value of such properties shall be impaired through condemnation.

Appears in 3 contracts

Samples: Term Loan Agreement (Aemetis, Inc), Construction & Term Loan Agreement (Aemetis, Inc), Construction Loan Agreement (Aemetis, Inc)

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Business Disruption; Condemnation. (i) Any There shall occur a cessation of a substantial part of the business of Borrower or any Borrower Guarantor for a period which significantly affects its Borrower's or such Guarantor's capacity to continue its business, on a profitable basis such that it is reasonably likely that basis; or Borrower will not be in compliance with Financial Covenants contained herein; (ii) or any Guarantor shall suffer the loss or revocation of any permits license or licenses from any Governmental Authority permit now held or hereafter acquired by Borrower or such Guarantor which is necessary to operate any the continued or lawful operation of the [anaerobic digester facilities] at full nameplate capacity that continues for a period of 30 daysBorrower's business; (iii) or 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; (iv) or any material lease or agreement pursuant to which Borrower or any Guarantor leases, uses or occupies any of its properties Property shall be canceled or terminated prior to the expiration of its stated term; or (v) any part of the Collateral shall be taken through condemnation or the value of such properties Property shall be impaired through condemnation.. 44

Appears in 2 contracts

Samples: Loan and Security Agreement (Nations Flooring Inc), Loan and Security Agreement (Nations Flooring Inc)

Business Disruption; Condemnation. (i) Any There shall occur a cessation of a substantial part of the business of any Borrower, any Subsidiary of any Borrower for a period which significantly affects its any Borrower's capacity to continue its business, on a profitable basis such that it is reasonably likely that basis; or any Borrower, or any Subsidiary of Borrower will not be in compliance with Financial Covenants contained herein; (ii) shall suffer the loss or revocation of any permits license or licenses from permit now held or hereafter acquired by such Borrower which is necessary to the continued or lawful operation of its business; or any Governmental Authority to operate any of the [anaerobic digester facilities] at full nameplate capacity that continues for a period of 30 days; (iii) 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; (iv) or any material lease or agreement pursuant to which Borrower or any Guarantor leases, uses or occupies any of its properties Property shall be canceled or terminated prior to the expiration of its stated term; or (v) any part of the Collateral shall be taken through condemnation or the value of such properties Property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Tmci Electronics Inc)

Business Disruption; Condemnation. (i) Any cessation of a substantial part of the business of any Borrower Obligor for a period which significantly affects its such Obligor’s capacity to continue its business, on a profitable basis such that it is reasonably likely that Borrower will not be in compliance with Financial Covenants contained herein; (ii) the loss of any permits or licenses from any Governmental Authority to operate any of the [anaerobic digester facilities] Project at full nameplate capacity that continues for a period of 30 days; (iii) Borrower any Obligor 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; (iv) any material lease or agreement pursuant to which Borrower any Obligor leases, uses or occupies any of its properties shall be canceled or terminated prior to the expiration of its stated term; or (v) any part of the Collateral shall be taken through condemnation or the value of such properties shall be impaired through condemnation.;

Appears in 1 contract

Samples: Loan Agreement (Dixie Group Inc)

Business Disruption; Condemnation. (i) Any There shall occur a cessation of a substantial part of the business of any Borrower or any Subsidiary of any Borrower for a period which significantly affects its any Borrower's capacity to continue its business, on a profitable basis such that it is reasonably likely that basis; or any Borrower will not be in compliance with Financial Covenants contained herein; (ii) or any Subsidiary of any Borrower shall suffer the loss or revocation of any permits license or licenses from permit now held or hereafter acquired by such Borrower which is necessary to the continued or lawful operation of its business; or any Governmental Authority to operate any of the [anaerobic digester facilities] at full nameplate capacity that continues for a period of 30 days; (iii) 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; (iv) or any material lease or agreement pursuant to which any Borrower leases, uses or occupies any of its properties Property shall be canceled or terminated prior to the expiration of its stated term; or (v) any part of the Collateral shall be taken through condemnation or the value of such properties Property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Measurement Specialties Inc)

Business Disruption; Condemnation. (i) Any There shall occur a cessation of a substantial part of the business of Borrower, any Subsidiary of Borrower or Parent for a period which significantly affects its Borrower’s or Parent’s capacity to continue its business, on a profitable basis such that it is reasonably likely that basis; or Borrower, any Subsidiary of Borrower will not be in compliance with Financial Covenants contained herein; (ii) or Parent shall suffer the loss or revocation of any permits license or licenses from any Governmental Authority permit now held or hereafter acquired by Borrower or Parent which is necessary to operate any the continued or lawful operation of the [anaerobic digester facilities] at full nameplate capacity that continues for a period of 30 daysits business; (iii) or Borrower or Parent 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; (iv) or any material lease or agreement pursuant to which Borrower or Parent’s leases, uses or occupies any of its properties Property shall be canceled or terminated prior to the expiration of its stated term; or (v) any part of the Collateral shall be taken through condemnation or the value of such properties shall Property which event, with respect to all of the foregoing, could reasonably be impaired through condemnationexpected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Home Products International Inc)

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Business Disruption; Condemnation. (i) Any There shall occur a cessation of a substantial part of the business of Borrower, any Subsidiary of Borrower or Parent for a period which significantly affects its Borrower's or Parent's capacity to continue its business, on a profitable basis such that it is reasonably likely that basis; or Borrower, any Subsidiary of Borrower will not be in compliance with Financial Covenants contained herein; (ii) or Parent shall suffer the loss or revocation of any permits license or licenses from any Governmental Authority permit now held or hereafter acquired by Borrower or Parent which is necessary to operate any the continued or lawful operation of the [anaerobic digester facilities] at full nameplate capacity that continues for a period of 30 daysits business; (iii) or Borrower or Parent 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; (iv) or any material lease or agreement pursuant to which Borrower or Parent's leases, uses or occupies any of its properties Property shall be canceled or terminated prior to the expiration of its stated term; or (v) any part of the Collateral shall be taken through condemnation or the value of such properties shall Property which event, with respect to all of the foregoing, could reasonably be impaired through condemnationexpected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Home Products International Inc)

Business Disruption; Condemnation. (i) Any There shall occur a cessation of a substantial part of the business of any Borrower, or any Subsidiary of any Borrower for a period which significantly affects its Borrower's capacity to continue its business, on a profitable basis such that it is reasonably likely that basis; or any Borrower will not be in compliance with Financial Covenants contained herein; (ii) or any Subsidiary of any Borrower shall suffer the loss or revocation of any permits material license or licenses from permit now held or hereafter acquired by any Governmental Authority Borrower or such Subsidiary which is necessary to operate the continued or lawful operation of its business; or any of the [anaerobic digester facilities] at full nameplate capacity that continues for a period of 30 days; (iii) 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; (iv) or any material lease or agreement pursuant to which any Borrower leases, uses or occupies any of its properties Property shall be canceled or terminated prior to the expiration of its stated term; or (v) any part of the Collateral shall be taken through condemnation or the value of such properties Property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (D & K Healthcare Resources Inc)

Business Disruption; Condemnation. (i) Any There shall occur a cessation of a substantial part of the business of Borrower, any Subsidiary of Borrower or any Guarantor for a period which significantly affects its capacity may be reasonably expected to continue have a Material Adverse Effect; or Borrower, any Subsidiary of Borrower or any Guarantor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by Borrower or such Guarantor which is necessary to the continued or lawful operation of its business, on a profitable basis such that it is reasonably likely that ; or Borrower will not be in compliance with Financial Covenants contained herein; (ii) the loss of or any permits or licenses from any Governmental Authority to operate any of the [anaerobic digester facilities] at full nameplate capacity that continues for a period of 30 days; (iii) 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; (iv) or any material lease or agreement pursuant to which Borrower or any Guarantor leases, uses or occupies any of its properties Property shall be canceled or terminated prior to the expiration of its stated term; or (v) any material part of the Collateral shall be taken through condemnation or the value of such properties Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Miltope Group Inc)

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