Common use of Insurance and Condemnation Events Clause in Contracts

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Loans in the manner set forth in clause (vi) below in an amount equal to 100% of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries to the extent that the aggregate amount of such Net Cash Proceeds exceed the Threshold Amount during any Fiscal Year. Such prepayments shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such Credit Party or such Subsidiary; provided that, so long as no Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d) to the extent that such Net Cash Proceeds are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower within twelve (12) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary (or if so committed to reinvestment, reinvested within 180 days after such commitment); provided further that any portion of the Net Cash Proceeds not actually reinvested (or committed to be reinvested) within such twelve (12) month period shall be prepaid in accordance with this Section 5.16(d) on or before the last day of such twelve (12) month period.

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Loans and/or Cash Collateralize the L/C Obligations in the manner set forth in clause (vi) below in an amount equal to one hundred percent (100% %) of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries to the extent that the aggregate amount of such Net Cash Proceeds exceed the Threshold Amount $1,000,000 during any Fiscal Yearfiscal year. Such prepayments shall be made within three (3) Business Days after the date of receipt of such excess Net Cash Proceeds of any such Insurance and Condemnation Event by such Credit Party or such Subsidiaryany of its Subsidiaries; provided that, so long as no Default or Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d4.4(b)(iv) to the extent that (x) such excess Net Cash Proceeds are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower and its Subsidiaries within twelve six (126) months after receipt of such excess Net Cash Proceeds or (y) such excess Net Cash Proceeds are committed to be reinvested pursuant to a legally binding agreement in assets used or useful in the business of the Borrower and its Subsidiaries within six (6) months after the receipt of such excess Net Cash Proceeds and are thereafter actually reinvested by such Credit Party or such Subsidiary (in assets used or if so committed to reinvestment, reinvested within 180 days after such commitment); provided further that any portion useful in the business of the Net Cash Proceeds not actually reinvested (or committed to be reinvested) Borrower and its Subsidiaries within such twelve (12) month period shall be prepaid in accordance with this Section 5.16(d) on or before months of the last day date of such twelve (12) month periodlegally binding agreement.

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Loans and/or Cash Collateralize the L/C Obligations in the manner set forth in clause (vi) below in an amount equal to one hundred percent (100% %) of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries Material Foreign Subsidiary to the extent that the aggregate amount of such Net Cash Proceeds from this clause (iv) and clause (iii) above exceed the Threshold Amount $10,000,000 during any Fiscal Year. Such prepayments shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such Credit Party or such Material Foreign Subsidiary; provided that, so long as no Default or Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d4.4(b)(iv) to the extent that such Net Cash Proceeds otherwise required to be prepaid are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower a Credit Party or Material Foreign Subsidiary within twelve (12) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary (or if so committed to reinvestment, reinvested within 180 days after such commitment)Material Foreign Subsidiary; provided further that any portion of the Net Cash Proceeds otherwise required to be prepaid but not actually reinvested (or committed to be reinvested) within such twelve (12) month period shall be prepaid in accordance with this Section 5.16(d4.4(b)(iv) on or before the last day of such twelve (12) month period.

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in clause (viv) below in an amount equal to one hundred percent (100% %) of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by (other than any Credit Party Insurance and Condemnation Event relating to ABL Priority Collateral, the proceeds of which are used to prepay the ABL Facility or any cash collateralize undrawn letters of its Subsidiaries credit thereunder) to the extent that the aggregate amount of such Net Cash Proceeds exceed the Threshold Amount $25,000,000 during any Fiscal Year. Such prepayments shall be made within three five (35) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such Credit Party or such Restricted Subsidiary; provided that, so long as no Default or Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d2.4(b)(iii) to the extent that such Net Cash Proceeds are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower Company and its Restricted Subsidiaries, including any Permitted Acquisition, within twelve (12) months 365 days after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary (or if so committed to reinvestment, reinvested within 180 days after such commitment)Restricted Subsidiary; provided further that any portion of the Net Cash Proceeds not actually reinvested (or committed to be reinvested) within such twelve (12) month six 365-day period shall be prepaid in accordance with this Section 5.16(d2.4(b)(iii) on or before the last day of such twelve (12) month 365-day period.

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Loans in the manner set forth in clause (vi) below in an amount equal to one hundred percent (100% %) of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries to the extent that the aggregate amount of such Net Cash Proceeds exceed the Threshold Amount during any Fiscal YearEvent. Such prepayments shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such Credit Party or such Subsidiary; provided that, so long as no Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d4.4(b)(iv) to the extent that such Net Cash Proceeds are reinvested (or committed to be reinvestedreinvested pursuant to a legally binding agreement in assets used or useful in the business of the Borrower and its Subsidiaries within nine (9) months after receipt of such Net Cash Proceeds and are thereafter actually reinvested in assets used or useful in the business of the Borrower within twelve eighteen (1218) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary (or if so committed to reinvestment, reinvested within 180 days after such commitment)Subsidiary; provided further that any portion of the Net Cash Proceeds not actually reinvested (or committed to be reinvested) reinvested pursuant to a legally binding agreement within such twelve nine (129) month period or actually reinvested within such eighteen (18) month period shall be prepaid in accordance with this Section 5.16(d4.4(b)(iv) on or before the last day of such twelve (12) month applicable period.

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Loans in the manner set forth in clause (vi) below in an amount equal to one hundred percent (100% %) of the aggregate Net Cash Proceeds in excess of $25.0 million from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries to the extent that the aggregate amount of such Net Cash Proceeds exceed the Threshold Amount during any Fiscal YearSubsidiaries. Such prepayments shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such Credit Party or such Subsidiary; provided that, so long as no Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d2.4(b)(iv) to the extent that such the Net Cash Proceeds are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower and its Subsidiaries (a) within twelve (12) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary or ( b) if the Borrower enters into a legally binding commitment to reinvest such Net Cash Proceeds within six (or if so committed to reinvestment6) months after the receipt thereof, reinvested then within 180 days after twelve (12) months following the date of such legally binding commitment); provided further that any portion of the Net Cash Proceeds not actually reinvested (or committed according to be reinvested) within such twelve (12) month period the preceding shall be prepaid in accordance with this Section 5.16(d2.4(b)(iv) on or before within three (3) Business Days after receipt of the last day written demand of Administrative Agent; provided, that the Borrower shall not be required to comply with this Section 2.4(b)(iv) to the extent that such twelve (12) month periodprepayment is prohibited by the ABL Facility.

Insurance and Condemnation Events. The US Borrower shall make mandatory principal prepayments of the Term Loans in the manner set forth in clause (viiv) below in an amount equal to one hundred percent (100% %) of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries to the extent that the aggregate amount of such Net Cash Proceeds exceed $5,000,000 during the Threshold Amount during any Fiscal Yearterm of this Agreement. Such prepayments shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such any Credit Party or such Subsidiaryany of its Subsidiaries; provided that, so long as no Default or Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d5.4(b)(iii) to the extent that such Net Cash Proceeds are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower Holdings and its Subsidiaries within twelve (12) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary (or if so committed to reinvestment, reinvested within 180 days after such commitment)Subsidiary; provided further that any portion of the Net Cash Proceeds not actually reinvested (or committed to be reinvested) within such twelve (12) month period shall be prepaid in accordance with this Section 5.16(d5.4(b)(iii) on or before the last day of such twelve (12) month period.

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Loans in the manner set forth in clause (vi) below in an amount equal to 100% of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries to the extent that the aggregate amount of such Net Cash Proceeds exceed the Threshold Amount during any Fiscal Year. Such prepayments shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such Credit Party or such Subsidiary; provided that, so long as no Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d2.5(b)(iv) to the extent that such Net Cash Proceeds are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower within twelve (12) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary (or if so committed to reinvestment, reinvested within 180 days after such commitment)Subsidiary; provided further that any portion of the Net Cash Proceeds not actually reinvested (or committed to be reinvested) within such twelve (12) month period shall be prepaid in accordance with this Section 5.16(d2.5(b)(iv) on or before the last day of such twelve (12) month period.

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Loans Initial Term Loan, and to the extent provided in the applicable Lender Joinder Agreement (or other applicable governing documents) with respect to each then outstanding Incremental Term Loan, the Incremental Terms, in the manner set forth in clause (viv) below in an amount equal to one hundred percent (100% %) of the aggregate Net Cash Proceeds from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries to the extent that the aggregate amount of such Net Cash Proceeds exceed the Threshold Amount $2,500,000 during any Fiscal Year. Such prepayments shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such any Credit Party or such Subsidiaryany of its Subsidiaries (other than Excluded Subsidiaries); provided that, so long as no Default or Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d2.4(b)(iii) to the extent that such Net Cash Proceeds are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower Credit Parties within twelve six (126) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary (or if so committed to reinvestment, reinvested within 180 days after such commitment)Subsidiary; provided further that any portion of the Net Cash Proceeds not actually reinvested (or committed to be reinvested) within such twelve six (126) month period shall be prepaid in accordance with this Section 5.16(d2.4(b)(iii) on or before the last day of such twelve six (126) month period.

Insurance and Condemnation Events. The Borrower shall make mandatory principal prepayments of the Loans in the manner set forth in clause (viv) below in an amount equal to one hundred percent (100% %) of the aggregate Net Cash Proceeds in excess of $25.0 million from any Insurance and Condemnation Event by any Credit Party or any of its Subsidiaries to the extent that the aggregate amount of such Net Cash Proceeds exceed the Threshold Amount during any Fiscal YearSubsidiaries. Such prepayments shall be made within three (3) Business Days after the date of receipt of Net Cash Proceeds of any such Insurance and Condemnation Event by such Credit Party or such Subsidiary; provided that, so long as no Event of Default has occurred and is continuing, no prepayment shall be required under this Section 5.16(d2.4(b)(iii) to the extent that such the Net Cash Proceeds are reinvested (or committed to be reinvested) in assets used or useful in the business of the Borrower and its Subsidiaries (a) within twelve (12) months after receipt of such Net Cash Proceeds by such Credit Party or such Subsidiary or ( b) if the Borrower enters into a legally binding commitment to reinvest such Net Cash Proceeds within six (or if so committed to reinvestment6) months after the receipt thereof, reinvested then within 180 days after twelve (12) months following the date of such legally binding commitment); provided further provided, further, that any portion of the Net Cash Proceeds not actually reinvested (or committed according to be reinvested) within such twelve (12) month period the preceding shall be prepaid in accordance with this Section 5.16(d2.4(b)(iii) on or before within three (3) Business Days after receipt of the last day written demand of Administrative Agent; provided, that the Borrower shall not be required to comply with this Section 2.4(b)(iii) to the extent that such twelve (12) month periodprepayment is prohibited by the ABL Credit Agreement.