Damage; Casualty. Any event occurs, whether or not insured or insurable, as a result of which revenue-producing activities cease or are substantially curtailed at any facility of any Credit Party generating more than 20% of the consolidated revenues of the Credit Parties for the Fiscal Year preceding such event and such cessation or curtailment continues for more than sixty (60) days; or
Damage; Casualty. Any casualty or damage occurs to any portion of the Collateral in excess of $5,000,000 (to the extent not covered by independent third-party insurance as to which the insurer is rated at least “A” by A.M. Best Company, has been notified of the potential claim and does not dispute coverage);
Damage; Casualty. Any material damage to, or loss, theft or destruction of, any Collateral, whether or not insured, or any embargo, condemnation, act of God or public enemy, or other casualty which causes, for more than fifteen (15) consecutive days, the cessation or substantial curtailment of revenue producing activities at any facility of Borrower or any of its Subsidiaries if any such event or circumstance would have a Material Adverse Effect; or
Damage; Casualty. Any event occurs, whether or not insured or insurable, as a result of which revenue-producing activities cease or are substantially curtailed at any facility of any Credit Party generating more than 10% of the EBITDA of Ultimate Holdings, Borrowers and their Subsidiaries for the Fiscal Year preceding such event and such cessation or curtailment continues for more than thirty (30) consecutive days; or
Damage; Casualty. Any event occurs, whether or not insured or insurable, as a result of which EBITDA for the immediately preceding 12-Fiscal Month period then ended, giving pro forma effect to any such event would be less than $160,000,000 and any such event cannot reasonably be expected to be corrected or reversed within 45 days; or
Damage; Casualty. Except as otherwise expressly permitted in this Agreement (including the Closure Plan and any Disposition approved by Agent), any event occurs, whether or not insured or insurable, as a result of which revenue-producing activities cease or are substantially curtailed with respect to the Facility of any Credit Party and such cessation or curtailment continues for more than 5 days;
Damage; Casualty. If, prior to the Closing Date, all or any portion of the Real Property shall be (i) destroyed or damaged by fire or any other hazard or casualty, or (ii) condemned or taken by any public or governmental authority, Seller shall immediately notify Purchaser in writing. Purchaser may then terminate this Agreement by written notice to Seller, and the parties shall be released from all further obligations under this Agreement.
Damage; Casualty. Any event occurs, whether or not insured or insurable, as a result of which revenue-producing activities generating more than 15% of Borrower’s revenues for the Fiscal Year preceding such event cease or are substantially curtailed and such cessation or curtailment continues for more than thirty (30) days; provided, that for greater certainty, neither (i) the commencement of the winter season and the cessation of the operation of the Vessels by the Credit Parties as a consequence thereof or (ii) the temporary lay-up from service of any Vessels in the ordinary course of business shall constitute an Event of Default; or
Damage; Casualty. Any event occurs, whether or not insured or insurable, as a result of which income-producing activities cease or are substantially curtailed at any facility of any Credit Party generating more than 20% of the consolidated net income of Ultimate Holdco and their Subsidiaries for the Fiscal Year preceding such event and such cessation or curtailment continues for more than 30 days (except to the extent any net income from such activities which is not generated as a result of such event is replaced or covered by payments made under business interruption insurance); or
Damage; Casualty of Section 7.1 (Event of Default) of the Credit Agreement is hereby amended by deleting such clause (l) and replacing it with the following new clause (l):
