Common use of Damage to Collateral Clause in Contracts

Damage to Collateral. Notify Administrative Agent in writing promptly upon Borrower becoming aware of: (a) damage to any of the Collateral causing a loss in excess of $250,000 that is not fully covered by insurance, subject to normal deductibles; and (b) the occurrence or existence of any condition or event that could reasonably be expected to cause a loss or depreciation of any Collateral in excess of $250,000, excluding changes in the economy generally, e.g., fluctuations in the market price of Hydrocarbons.

Damage to Collateral. Notify Upon obtaining knowledge thereof, Borrower shall give the Administrative Agent in writing promptly upon Borrower becoming aware prompt written notice of: (a) damage to any of the Collateral causing a loss in excess of Fifty Thousand Dollars ($250,000 that is not fully covered by insurance, subject to normal deductibles50,000); and (b) the occurrence or existence of any condition or event that could which has caused or may reasonably be expected to cause a loss or depreciation of any Collateral in excess of Fifty Thousand Dollars ($250,000, 50,000) with respect to any of the Collateral excluding changes in market conditions such as market fluctuation for the economy generally, e.g., fluctuations in the market price of paid for Hydrocarbons.