Common use of Insurance/Condemnation Proceeds Clause in Contracts

Insurance/Condemnation Proceeds. No later than the third Business Day following the date of receipt by Holdings or any of its Subsidiaries, or the Administrative Agent as loss payee, of any Net Cash Proceeds of the type described in clause (b) of the definition thereof, the U.S. Borrower shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceeds; provided, that so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below or at the proposed time of the investment of such Net Cash Proceeds described below, the U.S. Borrower shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries to invest such Net Cash Proceeds within two hundred seventy (270) days of receipt thereof in assets of the general type used in the business of Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof (provided that if, prior to the expiration of such two hundred seventy (270) day period, either Borrower, directly or through its respective Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two hundred seventy (270) day period, such two hundred seventy (270) day period shall be extended to the date provided for such investment in such binding agreement).

Insurance/Condemnation Proceeds. No later than the third first Business Day following the date of receipt by Holdings or any of its Subsidiaries, or the Administrative Agent as loss payee, of any Net Cash Proceeds of the type described in clause (b) of the definition thereof, the U.S. Borrower shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceeds; provided, that so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below in the following clause or at the proposed time of the investment of such Net Cash Proceeds as described belowin the following clause, the U.S. Borrower shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries to invest such Net Cash Proceeds within two onethree hundred seventy eightysixty-five (270180365) days of receipt thereof in long term productive assets of the general type used in the business of Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof (provided that if, prior to the expiration of such two onethree hundred seventy eightysixty-five (270180365) day period, either Borrower, directly or through its respective Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two hundred seventy an additional ninety (27090) day period, such two one hundred seventy eighty (270180) days, such three hundred sixty-five (365) day period shall be extended to the date provided for such investment in such binding agreement).

Insurance/Condemnation Proceeds. No later than the third first Business Day following the date of receipt by Holdings or any of its Subsidiaries, or the Administrative Agent as loss payee, of any Net Cash Proceeds of the type described in clause (b) of the definition thereof, the U.S. Borrower shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceeds; provided, that so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below in the following clause or at the proposed time of the investment of such Net Cash Proceeds as described belowin the following clause, the U.S. Borrower shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries to invest such Net Cash Proceeds within two one hundred seventy eighty (270180) days of receipt thereof in long term productive assets of the general type used in the business of Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof (provided that if, prior to the expiration of such two one hundred seventy eighty (270180) day period, either Borrower, directly or through its respective Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two hundred seventy an additional ninety (27090) day period, such two one hundred seventy eighty (270180) day period shall be extended to the date provided for such investment in such binding agreement); provided, further, that pending any such investment all such Net Cash Proceeds, as the case may be, shall be applied to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments).

Insurance/Condemnation Proceeds. No later than the third first Business Day following the date of receipt by Holdings or any of its Subsidiaries, or the Administrative Agent as loss payee, of any Net Cash Proceeds of the type described in clause (b) of the definition thereof, the U.S. Borrower shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceeds; provided, that so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below in the following clause or at the proposed time of the investment of such Net Cash Proceeds as described belowin the following clause, the U.S. Borrower shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries to invest such Net Cash Proceeds within two one hundred seventy eighty (270180) days of receipt thereof in long term productive assets of the general type used in the business of Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof (provided that if, prior to the expiration of such two one hundred seventy eighty (270180) day period, either Borrower, directly or through its respective Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two hundred seventy an additional ninety (27090) day period, such two one hundred seventy eighty (270180) day period shall be extended to the date provided for such investment in such binding agreement).

Insurance/Condemnation Proceeds. No later than the third first Business Day following the date of receipt by Holdings Parent, the Borrower or any of its their respective Subsidiaries, or the Administrative Agent as loss payee, of any Net Cash Proceeds of the type described in clause (b) of the definition thereofInsurance/Condemnation Proceeds, the U.S. Borrower shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Insurance/Condemnation Proceeds; providedprovided that, that so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below or at the proposed time of the investment of such Net Cash Proceeds described belowcontinuing, the U.S. Borrower shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries to invest use such Net Cash Insurance/Condemnation Proceeds within two hundred seventy (270) days of receipt thereof for repair of any damage related thereto or replacement of the affected assets or for investment in assets of the general type owned by or used in the business of Holdings the Borrower and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof Subsidiaries (provided that if, prior to the expiration of such two hundred seventy (270) day period, either the Borrower, directly or through its respective Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two hundred seventy an additional ninety (27090) day period, such two hundred seventy (270) day period shall be extended to the date provided for such investment in such binding agreement).

Insurance/Condemnation Proceeds. No later than the third Within ten (10) Business Day Days following the date of receipt by Holdings or any of its Subsidiaries, Restricted Subsidiary (or the Administrative Agent as loss payee), of any Net Cash Insurance/Condemnation Proceeds in excess of the type described in $10,000,000 (provided that all such proceeds excluded pursuant to this clause (biii) of shall not exceed $15,000,000 in the definition thereofaggregate during any Fiscal Year), the U.S. Borrower shall prepay the Term Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceedsexcess; providedprovided that, that so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below or at the proposed time of the investment of such Net Cash Proceeds described below, the U.S. Borrower shall have the optionContinuing, upon written notice to the Administrative Agent, the Borrower shall have the option, directly or through one or more of its Subsidiaries Restricted Subsidiaries, to invest such Net Cash Insurance/Condemnation Proceeds within two three hundred seventy sixty-five (270365) days of receipt thereof in assets of the general type used in the business of Holdings the Borrower and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof Restricted Subsidiaries (provided that if, prior to the expiration of such two three hundred seventy sixty-five (270365) day period, either the Borrower, directly or through its respective the Restricted Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two an additional one hundred seventy eighty (270180) day period, such two three hundred seventy sixty-five (270365) day period shall be extended to the date provided for such investment in such binding agreement).

Insurance/Condemnation Proceeds. (i) No later than the third Business Day following the date of receipt by Holdings the Partnership, the Borrower or any of its Subsidiaries, or the Administrative Agent or Collateral Agent as loss payee, of Net Insurance/Condemnation Proceeds (other than Net Insurance/Condemnation Proceeds arising from any Net Cash Proceeds event or series of the type described related events in clause (b) of the definition thereofan amount less than $20,000,000), the U.S. unless waived by Required Lenders, Borrower shall prepay the Loans and/or the Revolving Delayed Draw Term Loan Commitments shall be permanently reduced as set forth in Section 2.15(b2.14(b) in an aggregate amount equal to such Net Cash Insurance/Condemnation Proceeds; provided. (ii) Notwithstanding the foregoing clause (i), that except in the case of any total loss of any Major Initial Project, so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below or at the proposed time of the investment of such Net Cash Proceeds described belowcontinuing, the U.S. Borrower shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries to invest such Net Cash Insurance/Condemnation Proceeds within two three hundred seventy (270) sixty days of receipt thereof (or, if committed to be reinvested within such three hundred sixty day-period, within one hundred eighty days after the expiration of such period) in long-term productive assets of the general type used in the business of Holdings Borrower and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof (provided that if, prior to the expiration of such two hundred seventy (270) day period, either Borrower, directly or through its respective Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two hundred seventy (270) day period, such two hundred seventy (270) day period shall be extended to the date provided for such investment in such binding agreement)thereof.

Insurance/Condemnation Proceeds. No later than the third Within ten (10) Business Day Days following the date of receipt by Holdings or any of its Subsidiaries, Restricted Subsidiary (or the Administrative Agent as loss payee), of any Net Cash Insurance/Condemnation Proceeds in excess of $10,000,000 individually or $15,000,000 in the type described aggregate in clause (b) of the definition thereofany Fiscal Year, the U.S. Borrower shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceedsexcess; providedprovided that, that so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below or at the proposed time of the investment of such Net Cash Proceeds described belowContinuing, the U.S. Borrower shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries Restricted Subsidiaries, to invest such Net Cash Insurance/Condemnation Proceeds within two three hundred seventy sixty-five (270365) days of receipt thereof in assets of the general type used in the business of Holdings the Borrower and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof Restricted Subsidiaries (provided that if, prior to the expiration of such two three hundred seventy sixty-five (270365) day period, either the Borrower, directly or through its respective the Restricted Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two an additional one hundred seventy eighty (270180) day period, such two three hundred seventy sixty-five (270365) day period shall be extended to the date provided for such investment in such binding agreement).

Insurance/Condemnation Proceeds. No later than the third first Business Day following the date of receipt by Holdings or any of its Subsidiaries, or the Administrative Agent as loss payee, of any Net Cash Proceeds of the type described in clause (b) of the definition thereof, the U.S. Borrower shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b) in an aggregate amount equal to such Net Cash Proceeds; provided, that so long as no Default or Event of Default shall have occurred and be continuing at the time of the delivery of the notice described below in the following clause or at the proposed time of the investment of such Net Cash Proceeds as described belowin the following clause, the U.S. Borrower shall have the option, upon written notice to the Administrative Agent, directly or through one or more of its Subsidiaries to invest such Net Cash Proceeds within two one hundred seventy eighty (270180) days of receipt thereof in long term productive assets of the general type used in the business of Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof (provided that if, prior to the expiration of such two one hundred seventy eighty (270180) day period, either Borrower, directly or through its respective Subsidiaries, shall have entered into a binding agreement providing for such investment on or prior to the expiration of a two hundred seventy an additional ninety (27090) day period, such two one hundred seventy eighty (270180) day period shall be extended to the date provided for such investment in such binding agreement).