Casualty Event. With respect to any property (including any interest in property) of the Borrower, any loss of, damage to, or condemnation or other taking of, such property for which the Borrower receives insurance proceeds, proceeds of a condemnation award or other compensation.
Casualty Event. With respect to any property (including any interest in property) of the Borrower or any of its Subsidiaries, any loss of, damage to, or condemnation or other taking of, such property for which the Borrower or such Subsidiary receives insurance proceeds, proceeds of a condemnation award or other compensation. CERCLA. See §7.12.
Casualty Event. Without prejudice to Clause 11.4(a) above,
(i) Following any Casualty Event (if the Casualty Proceeds with respect thereto could reasonably be expected to exceed U.S.$5,000,000), all Casualty Proceeds payable to or received by the Credit Parties in respect of such Casualty Event shall on the date of receipt by such Credit Party be deposited with the Collateral Agent as security for the Obligations and applied in accordance with this Agreement.
(ii) If (A) no Event of Default has occurred and is continuing, (B) the applicable Credit Party reasonably believes that all necessary repairs to any Mortgaged Revolving Credit Facility Rig affected by a Casualty Event can be completed within 270 days following such Casualty Event, and (C) during the 270-day period following such Casualty Event, the applicable Credit Party works diligently to complete all such repairs, then the Collateral Agent shall from time to time apply such Casualty Proceeds in payment for all necessary repairs to the extent that the costs of such repairs shall have been paid by a Credit Party upon receipt of satisfactory evidence of such repairs, and following completion of such repairs within 270 days after the Casualty Event and no Event of Default has occurred and is continuing, the Collateral Agent shall refund the remainder of such Casualty Proceeds (together with accrued interest thereon), if any, to the Borrower or any other appropriate Credit Party.
(iii) If (A) no Event of Default has occurred and is continuing and (B) all necessary repairs to any Mortgaged Revolving Credit Facility Rig affected by a Casualty Event or other arrangement permitted by Clause 10.2(c) shall not have been made within 270 days following such Casualty Event, then the Collateral Agent shall (1) apply the Casualty Proceeds in an amount equal to the lesser of (x) 50% of any Casualty Proceeds still held by the Collateral Agent or (y) the outstanding amount of the Loans to prepay the Swingline Loans, or if the Swingline Loans have been repaid in full, prepay the Revolving Credit Loans, or if the Revolving Credit Loans and Swingline Loans have been repaid in full, make deposits of cash cover or provide cash collateral for the Letter of Credit Exposure and (2) refund the balance (together with accrued interest thereon) to the Borrower or any other Credit Party as appropriate.
(iv) If an Event of Default has occurred and is continuing, the Collateral Agent shall apply such Casualty Proceeds in accordance with Clause 3...
Casualty Event. Any loss of title or any loss of or damage to or destruction of, or any condemnation or other taking (including by any governmental authority) of, any asset for which Tenant or any of its Subsidiaries (directly or through Tenant’s Parent) receives cash insurance proceeds or proceeds of a condemnation award or other similar compensation (excluding proceeds of business interruption insurance). “Casualty Event” shall include, but not be limited to, any taking of all or any part of any real property of Tenant or any of its Subsidiaries or any part thereof, in or by condemnation or other eminent domain proceedings pursuant to any applicable law, or by reason of the temporary requisition of the use or occupancy of all or any part of any real property of Tenant or any of its Subsidiaries or any part thereof by any governmental authority, civil or military.
Casualty Event. With reasonable promptness, but in any event within five (5) days after any Credit Party obtains knowledge thereof, notice of any casualty or condemnation event with respect to a material portion of the Collateral.
Casualty Event. If there shall occur any Casualty Event (or, in the case of any condemnation, taking or other proceeding in the nature thereof, upon the occurrence thereof or notice of the commencement of any proceedings therefor), the Mortgagor shall promptly send to the Mortgagee a written notice setting forth the nature and extent thereof. The proceeds payable in respect of any such Casualty Event are hereby assigned and shall be paid to the Mortgagee. The Net Cash Proceeds of each Casualty Event shall be applied, allocated and distributed in accordance with the provisions of Section 2.10 of the Credit Agreement.
Casualty Event. If a Borrower or any of its Subsidiaries receives Casualty Proceeds in excess of $500,000 (or, if denominated in a non-Dollar currency, the Dollar Equivalent thereof calculated as of the date of receipt), such Borrower shall (and shall ensure that such Subsidiary will) no later than the last day of the Interest Period in which such Casualty Proceeds are received (A) apply an amount equal to such Casualty Proceeds to prepay the Loans and (B) if such prepayment occurs during the Commitment Period and if so required by the Majority Lenders, reduce the aggregate Commitments by an amount equal to such Casualty Proceeds; provided that if a Casualty Reinvestment Notice has been delivered in respect of the relevant Casualty Event, then such Borrower shall (and shall ensure that such Subsidiary will) no later than the last day of the Interest Period in which the Casualty Reinvestment Prepayment Date occurs (C) apply an amount equal to the Casualty Reinvestment Prepayment Amount to prepay the Loans and (D) if such prepayment occurs during the Commitment Period and if so required by the Majority Lenders, reduce the aggregate Commitments by an amount equal to the Casualty Reinvestment Prepayment Amount.
Casualty Event. If the Aircraft suffers a Casualty Event prior to Delivery the Seller shall not be required to deliver, and the Purchaser will not be required to purchase, the Aircraft in accordance with this Agreement.
Casualty Event. If the Deposit is refunded in accordance with this clause then the Purchaser will not be entitled to any interest on the Deposit.
Casualty Event. Any loss of, or damages to, or any condemnation or other taking of any assets or property of the Borrower or any Subsidiary for which the Borrower or any Subsidiary receives insurance proceeds, proceeds of a condemnation award or other compensation.
