Common use of Impairment of Business Clause in Contracts

Impairment of Business. (a) Either Borrower or any other Loan Party shall be prohibited or otherwise materially restrained, for a period of 10 or more consecutive days, from conducting all or any material part of its business in the ordinary course in accordance with past practice, as a result of (i) any casualty, strike, lockout, labor dispute, embargo, condemnation, order of any Governmental Authority or act of God, (ii) one or more licenses, permits, accreditations or authorizations of either Borrower or any other Loan Party being suspended, limited or terminated or (iii) any other reason.

Appears in 4 contracts

Samples: Credit Agreement (CatchMark Timber Trust, Inc.), Credit Agreement (Wells Timberland REIT, Inc.), Credit Agreement (Wells Timberland REIT, Inc.)

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Impairment of Business. (a) Either Borrower Any Loan Party or any other Loan Party of its Subsidiaries shall (i) be prohibited or otherwise materially restrained, for a period of 10 or more consecutive days, days from conducting all or any material part of its business business, in the ordinary course in accordance with past practice, as a result of (iA) any casualty, strike, lockout, labor dispute, embargo, condemnation, order of any Governmental Authority or act of God, (iiB) one or more licenses, permits, accreditations or authorizations of either Borrower any Loan Party or any other Loan Party of its Subsidiaries being suspended, limited or terminated or (iiiC) any other reasonreason and (ii) any of the foregoing could reasonably be expected to have a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Lannett Co Inc)

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