Common use of Casualty Insurance/Condemnation Proceeds Clause in Contracts

Casualty Insurance/Condemnation Proceeds. Upon receipt by Borrower or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, (a) so long as no Event of Default and no Potential Event of Default shall have occurred and be continuing, Borrower shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply all Net Insurance/Condemnation Proceeds in excess of $250,000 to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received within 180 days after receipt of such Net Insurance/Condemnation Proceeds or, to the extent not so applied within such 180 day period, to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b), and (b) if an Event of Default or a Potential Event of Default shall have occurred and be continuing, Borrower shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b).

Casualty Insurance/Condemnation Proceeds. Upon receipt by Borrower or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, (a) so long as no Event of Default and no or Potential Event of Default shall have occurred and be continuing, Borrower shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply all such Net Insurance/Condemnation Proceeds in excess of $250,000 to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received within 180 days after receipt of such Net Insurance/Condemnation Proceeds or, to the extent not so applied within such 180 day periodapplied, to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b), and (b) if an Event of Default or a Potential Event of Default shall have occurred and be continuing, Borrower shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b).

Casualty Insurance/Condemnation Proceeds. Upon receipt by Borrower ---------------------------------------- Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, (a) so long as no Event of Default and no or Potential Event of Default shall have occurred and be continuing, Borrower Company shall, or shall cause one or more of its Subsidiaries to, promptly and diligently (and in any event within 360 days of the date of receipt of such Net Insurance/Condemnation Proceeds) apply all such Net Insurance/Condemnation Proceeds in excess of $250,000 to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received within 180 days after receipt of such Net Insurance/Condemnation Proceeds or, to the extent not so applied within such 180 360-day period), to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b), and (b) if an Event of Default or a Potential Event of Default shall have occurred and be continuing, Borrower Company shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b).; and

Casualty Insurance/Condemnation Proceeds. Upon receipt by Borrower or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, (a) so long as no Event of Default Default, and no Potential Event of Default under subsections 8.1, 8.6, 8.7 or 8.9, shall have occurred and be continuing, Borrower shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply all Net Insurance/Condemnation Proceeds in excess of $250,000 to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received within 180 days after receipt of such Net Insurance/Condemnation Proceeds or, to the extent not so applied within such 180 day periodapplied, to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b2.8(b)(ix)(B), and (b) if an Event of Default Default, or a Potential Event of Default under subsections 8.1, 8.6, 8.7 or 8.9, shall have occurred and be continuing, Borrower shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b2.8(b)(ix)(B).

Casualty Insurance/Condemnation Proceeds. Upon receipt by Borrower Holdings or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, (a) so long as no Event of Default and no Potential Event of Default shall have occurred and be continuing, Borrower Holdings shall, or shall cause one or more of its Subsidiaries to, promptly and diligently (and in any event within 18 months of the date of receipt of such Net Insurance/Condemnation Proceeds) apply all such Net Insurance/Condemnation Proceeds in excess of $250,000 1,000,000 to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received within 180 days after receipt of such Net Insurance/Condemnation Proceeds or, to the extent not so applied within such 180 day period18-month period (other than as a result of the costs of repairing, restoring or replacing such assets being less than the amount of such excess Net Insurance Condemnation Proceeds, so long as Company has applied Net Insurance/Condemnation Proceeds adequate to prepay the Loans (and/or the Revolving Loan Commitments shall be reducedpay or reimburse such costs) as provided in subsection 2.4B(iii)(b2.4A(iii)(b), and (b) if an Event of Default or a Potential Event of Default shall have occurred and be continuing, Borrower shall Company shall, upon demand made therefor by Administrative Agent, apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or reduce the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b2.4A(iii)(b).

Casualty Insurance/Condemnation Proceeds. Upon receipt by Borrower Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insuranceinsurance and other than Net Insurance/ Condemnation Proceeds in an aggregate amount not exceeding $100,000 with respect to any occurrence, (a) so long as no Event of Default and no or Potential Event of Default shall have occurred and be continuing, Borrower Company shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply all such Net Insurance/Condemnation Proceeds in excess of $250,000 to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received within 180 days after receipt of such Net Insurance/Condemnation Proceeds or, to the extent not so applied within such 180 day periodapplied, to prepay the Loans (and or to the extent not so applied, to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b), and (b) if an Event of Default or a of Potential Event of Default shall have occurred and be continuing, Borrower Company shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b).;

Casualty Insurance/Condemnation Proceeds. Upon receipt by Borrower any Loan Party or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, (a) so long as no Event of Default Default, and no Potential Event of Default under subsections 8.1, 8.6, 8.7 or 8.9, shall have occurred and be continuing, Borrower the Loan Parties shall, or shall cause one or more of its their Subsidiaries to, promptly and diligently apply all Net Insurance/Condemnation Proceeds in excess of $250,000 to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received within 180 days after receipt of such Net Insurance/Condemnation Proceeds or, to the extent not so applied within such 180 day periodapplied, to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b2.8(b)(ix)(B), and (b) if an Event of Default Default, or a Potential Event of Default under subsections 8.1, 8.6, 8.7 or 8.9, shall have occurred and be continuing, Borrower shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b2.8(b)(ix)(B).

Casualty Insurance/Condemnation Proceeds. Upon receipt by ---------------------------------------- Borrower or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, (a) so long as no Event of Default and no Potential Event of Default shall have occurred and be continuing, Borrower shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply all such Net Insurance/Condemnation Proceeds in excess of $250,000 to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received within 180 days after receipt of such Net Insurance/Condemnation Proceeds or, to the extent not so applied within such 180 day periodapplied, to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b)2.4B, and (b) if an Event of Default or a Potential Event of Default shall have occurred and be continuing, Borrower shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitments shall be reduced) as provided in subsection 2.4B(iii)(b).2.4B.