Common use of Casualty Events Clause in Contracts

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty Event, Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, an amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i); provided, that subject to Section 2.10(g) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall be used to repair, replace or restore any Property that is subject of a Casualty Event no later than 270 days following the date of receipt of such proceeds; provided, further, that all Property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12.

Casualty Events. Not later than one three (3) Business Day Days following the receipt of any Net Cash Proceeds from a Casualty EventEvent by the Borrower or any of its Restricted Subsidiaries, the Borrower shall apply, make prepayments in accordance with Section 2.10(g) and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicableh) to apply, in an aggregate amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i)Proceeds; provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in other fixed or capital assets, no later than 270 365 days (or in the event the Borrower or any Restricted Subsidiary has entered into a binding agreement to make such repair, replacement, restoration or reinvestment within such 365 day period, such period shall be extended for an additional 180 days with respect to the portion of such Net Cash Proceeds committed for such repair, replacement, restoration or reinvestment) following the date of receipt of such proceeds; provided, further, that all Property purchased with the and (ii) if any portion of such Net Cash Proceeds thereof shall not be so applied within such 365-day period (as such period may be extended pursuant to this subsection clause (i), above), such unused portion shall be made subject applied on the last day of such period to the Lien of the applicable Security Documents mandatory prepayments as provided in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12this Section 2.10(e).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Holdings or any of its Subsidiaries, the applicable Borrower shall apply, make any prepayments required by Section 2.10(b) as well as any prepayments in accordance with Sections 2.10(f) and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicableg) to apply, in an aggregate amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i)Proceeds; provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds (other than amounts required under Section 2.10(b) to be prepaid) shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower Borrowers shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent Agents on or prior to such date stating that such proceeds shall are expected to be used to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in other fixed or capital assets, no later than 270 180 days following the date of receipt of such proceeds; providedprovided that if the property subject to such Casualty Event constituted Collateral under the Security Documents, further, that then all Property property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the applicable Collateral Agent, Agents for its their benefit and for the benefit of the other Secured Parties in accordance with Sections Section 5.11 and Section 5.12; and (ii) if any portion of such Net Cash Proceeds shall not be so applied within such 180-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(d).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Borrower or any of its Subsidiaries, Borrower shall apply, make prepayments in accordance with Sections 2.10(h) and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicablei) to apply, in an aggregate amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i)Proceeds; provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in other fixed or capital assets, no later than 270 180 days following the date of receipt of such proceeds; providedprovided that if the property subject to such Casualty Event constituted Collateral under the Security Documents, further, that then all Property property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12; and (ii) if any portion of such Net Cash Proceeds shall not be so applied within such 180-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(f).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty Event, Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, an amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i); provided, that subject to Section 2.10(g) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ ' Certificate (which Officers’ ' Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall be used to repair, replace or restore any Property that is subject of a Casualty Event no later than 270 days following the date of receipt of such proceeds; provided, further, that all Property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12.

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Borrower or any of its Subsidiaries, Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, apply an amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i2.10(e) and (f); providedprovided that: (i) so long as no Event of Default then exist or arise therefrom, that subject no such prepayment shall be required under this Section 2.10(d) with respect to Section 2.10(gany Casualty Events resulting in no more than $2.0 million in Net Cash Proceeds per Casualty Event and less than $10.0 million in Casualty Events in any fiscal year; (ii) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ ' Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used used, to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in other fixed or capital assets, no later than 270 365 days following the date of receipt of such proceeds; provided, further, that all Property purchased with the and (iii) if any portion of such Net Cash Proceeds thereof pursuant to this subsection shall not be so applied within such 365-day period, such unused portion shall be made subject to applied on the Lien last day of the applicable Security Documents such period as a mandatory prepayment as provided in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12this Section 2.10(d).

Casualty Events. Not later than one five Business Day Days following the receipt of any Net Cash Proceeds (excluding any Net Cash Proceeds payable to the Sellers pursuant to the terms of the Acquisition Agreement) from a Casualty EventEvent by Holdings or any of its Subsidiaries, Borrower shall apply, make prepayments in accordance with Sections 2.10(i) and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicablej) to apply, in an aggregate amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i)Proceeds; provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Officer’s Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall Net Cash Proceeds are expected to be used to repair, replace or restore (or enter into a binding commitment for such repair, replacement or restoration) any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid no later than 270 360 days following the date of receipt of such proceeds; providedprovided that if the property subject to such Casualty Event constituted Collateral under the Security Documents, further, that then all Property property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12; and (ii) if any portion of such Net Cash Proceeds shall not be so applied within a 180-day period following such 360 day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(f).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Borrower or any of its Subsidiaries, Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, apply an amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i2.05(c) and (d); providedprovided that: (a) so long as no Event of Default then exist or arise therefrom, that subject no such prepayment shall be required under this Section 2.05(b)(iii) with respect to Section 2.10(gany Casualty Events resulting in no more than $2.0 million in Net Cash Proceeds per Casualty Event and less than $10.0 million in Casualty Events in any fiscal year; (b) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used used, to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in other fixed or capital assets, no later than 270 365 days following the date of receipt of such proceeds; provided, further, that all Property purchased with the and (c) if any portion of such Net Cash Proceeds thereof pursuant to this subsection shall not be so applied within such 365-day period, such unused portion shall be made subject applied on the last day of such period as a mandatory prepayment as provided in this Section 2.05(b)(iii), first, to the Lien next due principal amortization payment(s) of the applicable Security Documents in favor Term Loans and second, to the Revolving Loans (as a permanent reduction of the Collateral Agent, for its benefit and for Commitments thereunder in the benefit amount of the other Secured Parties in accordance with Sections 5.11 and 5.12such mandatory prepayments).

Casualty Events. Not later than one five Business Day Days following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Borrower or any of its Subsidiaries, Borrower shall apply, make prepayments in accordance with Sections 2.10(h) and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicablei) to apply, in an aggregate amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i)Proceeds; provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in other fixed or capital assets to be used in Borrower’s business, no later than 270 days 12 months following the date of receipt of such proceeds; providedprovided that if the property subject to such Casualty Event constituted Collateral under the Security Documents, further, that then all Property property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12; and (ii) if any portion of such Net Cash Proceeds shall not be so applied within such 12-month period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(f).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Holdings or any of its Subsidiaries, the Borrower shall apply, make prepayments in accordance with Sections 2.08(g) and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicableh) to apply, in an aggregate amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i)Proceeds; provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in assets useful for its business, no later than 270 days 24 months following the date of receipt of such proceeds; providedprovided that if the property subject to such Casualty Event constituted Collateral under the Security Instruments, further, that then all Property (to the extent of a type that would otherwise constitute Collateral) purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents Instruments in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 8.05 and 5.128.09; and (ii) if any portion of such Net Cash Proceeds shall not be so applied within such 365-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.08(e).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Holdings or any of its Subsidiaries, the applicable Borrower shall apply, make any prepayments required by Section 2.10(b) as well as any prepayments in accordance with Sections 2.10(f) and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicableg) to apply, in an aggregate amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i)Proceeds; provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds (other than amounts required under Section 2.10(b) to be prepaid) shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower Borrowers shall have delivered an Officers’ ' Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent Agents on or prior to such date stating that such proceeds shall are expected to be used to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in other fixed or capital assets, no later than 270 180 days following the date of receipt of such proceeds; providedprovided that if the property subject to such Casualty Event constituted Collateral under the Security Documents, further, that then all Property property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the applicable Collateral Agent, Agents for its their benefit and for the benefit of the other Secured Parties in accordance with Sections Section 5.11 and Section 5.12; and (ii) if any portion of such Net Cash Proceeds shall not be so applied within such 180-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(d).

Casualty Events. Not later than one three Business Day Days following the receipt of any Net Cash Proceeds from a Casualty EventEvent by any Company, Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, apply an amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(iSection 2.10(g); provided, that subject to Section 2.10(gprovided that: (i) and so long as no Default or Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that the Administrative Agent has elected by notice to Borrower on or prior to such date to require such proceeds to be used to repair, replace or restore any property in the event respect of which such Net Cash Proceeds shall not exceed $5.0 million were paid or to reinvest in fixed or capital assets of any Loan Party, no later than 360 days following the aggregate at any time, Borrower shall have delivered an Officers’ Certificate date of receipt of such proceeds (which Officers’ Officer’s Certificate shall set forth the estimates of the proceeds to be so expended) to ); provided that if the Administrative Agent and the Collateral Agent on or prior property subject to such date stating that such proceeds shall be used to repair, replace or restore any Property that is subject of a Casualty Event no later than 270 days following the date of receipt of such proceeds; providedconstituted Collateral, further, that then all Property property purchased or otherwise acquired with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the first priority perfected Lien (subject to Permitted Liens) of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12; and (ii) if all or any portion of such Net Cash Proceeds shall not be so applied within such 360-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(e).

Casualty Events. Not later than one three (3) Business Day Days following the receipt of any Net Cash Proceeds from a Casualty EventEvent by the Borrower or any of its Restricted Subsidiaries, the Borrower shall apply, make prepayments in accordance with Section 2.10(g) and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicableh) to apply, in an aggregate amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i)Proceeds; provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used (or have been used) to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid or to reinvest in other fixed or capital assets, no later than 270 365 days (or in the event the Borrower or any Restricted Subsidiary has entered into a binding agreement to make such repair, replacement, restoration or reinvestment within such 365 day period, such period shall be extended for an additional 365 days with respect to the portion of such Net Cash Proceeds committed for such repair, replacement, restoration or reinvestment, so long as such binding agreement is in effect at the end of such additional 365 day period) following the date of receipt of such proceeds; provided, further, that all Property purchased with the and (ii) if any portion of such Net Cash Proceeds thereof shall not be so applied within such 365-day period (as such period may be extended pursuant to this subsection clause (i), above), such unused portion shall be made subject applied on the last day of such period to the Lien of the applicable Security Documents mandatory prepayments as provided in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12this Section 2.10(e).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by any Company (other than (x) Xxxxxx and its Subsidiaries and (y) any Target and its Subsidiaries), Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, apply an amount equal to 10075% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(iSection 2.10(h); provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have has delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates a certificate of the proceeds to be so expended) a Responsible Officer of Borrower to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall be used setting forth Borrower’s intention to repair, replace or restore any Property the property that is was the subject of a such Casualty Event Event, no later than 270 180 days following the date of receipt of such proceedsproceeds (the “Casualty Proceeds Receipt Date”); providedprovided that if the property subject to such Casualty Event constituted Collateral, further, that then all Property property purchased or otherwise acquired with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the first priority perfected Lien (subject to Permitted Liens) of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12; and (ii) if all or any portion of such Net Cash Proceeds shall not be so applied within such 180-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(g).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Holdings or any of its Subsidiaries, Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, apply an amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i2.10(h) and (i); provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall is then exist continuing or would arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ ' Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid, no later than 270 365 days following the date of receipt of such proceeds; providedprovided that if the property subject to such Casualty Event constituted Collateral under the Security Documents, further, that then all Property property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12; and (ii) if any portion of such Net Cash Proceeds shall not be so applied within such 365-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(e).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by any Company (other than (x) Xxxxxx, Bridgehouse Marine and their respective Subsidiaries and (y) any Target and its Subsidiaries), Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, apply an amount equal to 10075% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(iSection 2.10(h); provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall then exist or arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have has delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates a certificate of the proceeds to be so expended) a Responsible Officer of Borrower to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall be used setting forth Borrower’s intention to repair, replace or restore any Property the property that is was the subject of a such Casualty Event Event, no later than 270 180 days following the date of receipt of such proceedsproceeds (the “Casualty Proceeds Receipt Date”); providedprovided that if the property subject to such Casualty Event constituted Collateral, further, that then all Property property purchased or otherwise acquired with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the first priority perfected Lien (subject to Permitted Liens) of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12; and (ii) if all or any portion of such Net Cash Proceeds shall not be so applied within such 180-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(g).

Casualty Events. Not later than one Business Day following the receipt of any Net Cash Proceeds from a Casualty EventEvent by Holdings or any of its Subsidiaries, Borrower shall apply, and shall cause other Loan Parties (with appropriate adjustments to any intercompany loan account balances or Borrowing Base Guarantor Intercompany Loan Account balances, as applicable) to apply, apply an amount equal to 100% of such Net Cash Proceeds to make prepayments in accordance with Sections 2.10(i2.10(h) and (i); provided, that subject to Section 2.10(gprovided that: (i) and so long as no Event of Default shall is then exist continuing or would arise therefrom, such proceeds shall not be required to be so applied on such date to the extent that in the event such Net Cash Proceeds shall not exceed $5.0 million in the aggregate at any time, Borrower shall have delivered an Officers’ Certificate (which Officers’ Certificate shall set forth the estimates of the proceeds to be so expended) to the Administrative Agent and the Collateral Agent on or prior to such date stating that such proceeds shall are expected to be used to repair, replace or restore any Property that is subject property in respect of a Casualty Event which such Net Cash Proceeds were paid, no later than 270 365 days following the date of receipt of such proceeds; providedprovided that if the property subject to such Casualty Event constituted Collateral under the Security Documents, further, that then all Property property purchased with the Net Cash Proceeds thereof pursuant to this subsection shall be made subject to the Lien of the applicable Security Documents in favor of the Collateral Agent, for its benefit and for the benefit of the other Secured Parties in accordance with Sections 5.11 and 5.12; and (ii) if any portion of such Net Cash Proceeds shall not be so applied within such 365-day period, such unused portion shall be applied on the last day of such period as a mandatory prepayment as provided in this Section 2.10(e).