Common use of Insurance/Condemnation Proceeds Clause in Contracts

Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by Borrower or any of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, Borrower shall prepay the Loans as set forth in Section 2.15(b) in an aggregate amount equal to such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto; provided, so long as no Default or Event of Default shall have occurred and be continuing, Borrower shall have the option, directly or through one or more of its Subsidiaries, to invest or commit to invest such Net Insurance/Condemnation Proceeds within one year of receipt thereof in long term productive assets of the general type used in the business of Borrower and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided further, pending any such investment all such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto, as the case may be, shall be applied to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on or within five Business Days after the immediately succeeding Interest Payment Date.

Insurance/Condemnation Proceeds. No Subject to Section 2.15(e), no later than the first fifth Business Day following the date of receipt by the Borrower or any of its Subsidiaries, or the Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, the Borrower shall prepay the Loans as set forth in Section 2.15(b) in an aggregate amount equal to such Net Insurance/Condemnation Proceeds (in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto); provided, so long as no Default or Event of Default shall have occurred and be continuing, the Borrower shall have the option, directly or through one or more of its Subsidiaries, to invest or commit to invest such Net Insurance/Condemnation Proceeds within one year of receipt thereof in long long-term productive assets of the general type used in the business of the Borrower and its Subsidiaries, including through a Permitted Acquisition, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided furtherthat if any amount is so committed to be reinvested within such one-year period, pending any but is not reinvested within the later to occur of (x) six months of the date of such investment all commitment and (y) the end of such Net Insurance/Condemnation Proceeds one year period, the Borrower shall prepay the Loans in excess of $1,000,000 for any single event accordance with this Section 2.14(b) without giving rise thereto or series of related events giving rise thereto, as the case may be, shall be applied further effect to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on or within five Business Days after the immediately succeeding Interest Payment Datesuch reinvestment right.

Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by Borrower Holdings or any of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, Borrower Company shall prepay the Loans and/or the Revolving Commitments shall be permanently reduced as set forth in Section 2.15(b2.14(b) in an aggregate amount equal to such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds; provided, (i) so long as no Default or Event of Default shall have occurred and be continuing, Borrower and (ii) to the extent that aggregate Net Insurance/Condemnation Proceeds from the Closing Date through the applicable date of determination do not exceed $10,000,000, Company shall have the option, directly or through one or more of its Subsidiaries, to invest or commit Subsidiaries to invest such Net Insurance/Condemnation Proceeds within one year two hundred seventy (270) days of receipt thereof in long term productive assets of the general type used in the business of Borrower Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided further, pending any such investment all such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds, as the case may be, shall be applied to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on or within five Business Days after the immediately succeeding Interest Payment Date).

Insurance/Condemnation Proceeds. No later than In the first Business Day following event there are no Revolving Loans outstanding under the Revolving Credit Agreement (or any permitted refinancings thereof, including as term loans) on the date of receipt by Borrower Company or any of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, Borrower no later than the third Business Day thereafter, Company shall prepay the Loans as set forth in Section 2.15(b2.13(b) in an aggregate amount equal to such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds; provided, so long as no Default or Event of Default shall have occurred and be continuing, Borrower Company shall have the option, directly or through one or more of its Subsidiaries, to, subject to the provisions of Section 6.7 hereof, invest (or commit within ninety days to invest or commit in construction projects to invest be completed within 18 months after the date of receipt of such Net Insurance/Condemnation Proceeds) such Net Insurance/Condemnation Proceeds within one year hundred eighty days of receipt thereof in long term productive Consolidated Capital Expenditures or non-current assets of the general type used useful in the business of Borrower Company and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided further, pending any such investment . The foregoing provisions shall be applicable to all such Net Insurance/Condemnation Proceeds notwithstanding any contrary provisions that may be set forth in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto, as the case may be, shall be applied to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on or within five Business Days after the immediately succeeding Interest Payment DateMortgages.

Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by Borrower Holdings or any of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation ProceedsProceeds in excess of $1,000,000 from the Closing Date through the applicable date of determination, Borrower the Company 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 amount of Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto1,000,000; provided, so long as no Default or Event of Default shall have occurred and be continuing, Borrower the Company shall have the option, directly or through one or more of its Subsidiaries, to invest or commit Subsidiaries to invest such Net Insurance/Condemnation Proceeds within one year three hundred-sixty (360) days of receipt thereof in long term productive assets of the general type used in the business of Borrower Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided further, pending any such investment all such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds, as the case may be, shall be applied to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on or within five Business Days after the immediately succeeding Interest Payment Date).

Insurance/Condemnation Proceeds. No later than Following the first Business Day following the date of receipt by Borrower Holdings or any of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, Borrower Company shall immediately prepay the Loans Notes as set forth in Section 2.15(b1.8(e) in an aggregate amount equal to such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds; provided, (i) so long as no Default or Event of Default shall have occurred and be continuing, Borrower and (ii) to the extent that aggregate Net Insurance/Condemnation Proceeds do not exceed $2,000,000, Issuers shall have the option, directly or through one or more of its Subsidiaries, to invest or commit Subsidiaries to invest such Net Insurance/Condemnation Proceeds within one year 180 days of receipt thereof in long term productive the repair, restoration or replacement of the applicable assets giving rise to such Net Insurance/Condemnation Proceeds which, in the case of the replacement of such assets, in assets of the general type used in the business of Borrower Issuers and its SubsidiariesSubsidiaries and, which investment may include if such assets are long term assets, the repairreplacement assets shall be long term assets, restoration or replacement and provided that the Lien of the applicable Agent on such replacement assets thereof; provided further, pending any such investment all such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto, shall have the same priority as the case may be, shall be applied assets subject to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on such condemnation or within five Business Days after the immediately succeeding Interest Payment Date.casualty event

Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by the Borrower or any of its Subsidiaries, or the Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, the Borrower shall prepay the Loans as set forth in Section 2.15(b) in an aggregate amount equal to such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto; provided, so long as no Default or Event of Default shall have occurred and be continuing, the Borrower shall have the option, directly or through one or more of its Subsidiaries, to invest or commit to invest such Net Insurance/Condemnation Proceeds within one year of receipt thereof in long term productive assets of the general type used in the business of the Borrower and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided further, pending any such investment all such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto, as the case may be, shall be applied to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on or within five (5) Business Days after the immediately succeeding Interest Payment Date.

Insurance/Condemnation Proceeds. No later than Following the first Business Day following the date of receipt by Borrower Holdings or any of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, Borrower Issuers shall immediately prepay the Loans Notes as set forth in Section 2.15(b1.8(f) in an aggregate amount equal to such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds; provided, (i) so long as no Default or Event of Default shall have occurred and be continuing, Borrower and (ii) to the extent that aggregate Net Insurance/Condemnation Proceeds do not exceed $2,000,000, Issuers shall have the option, directly or through one or more of its Subsidiaries, to invest or commit Subsidiaries to invest such Net Insurance/Condemnation Proceeds within one year 180 days of receipt thereof in long term productive the repair, restoration or replacement of the applicable assets giving rise to such Net Insurance/Condemnation Proceeds which, in the case of the replacement of such assets, in assets of the general type used in the business of Borrower Issuers and its SubsidiariesSubsidiaries and, which investment may include if such assets are long term assets, the repairreplacement assets shall be long term assets, restoration or replacement and provided that the Lien of the applicable Agent on such replacement assets thereof; provided further, pending any such investment all such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto, shall have the same priority as the case may be, shall be applied assets subject to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on such condemnation or within five Business Days after the immediately succeeding Interest Payment Datecasualty event.

Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by Borrower Holdings or any of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation ProceedsProceeds in excess of $2,000,000 from the Closing Date through the applicable date of determination, Borrower the Company 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 amount of Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise thereto2,000,000; provided, so long as no Default or Event of Default shall have occurred and be continuing, Borrower the Company shall have the option, directly or through one or more of its Subsidiaries, to invest or commit Subsidiaries to invest such Net Insurance/Condemnation Proceeds within one year three hundred-sixty (360) days of receipt thereof in long term productive assets of the general type used in the business of Borrower Holdings and its Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided further, pending any such investment all such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds, as the case may be, shall be applied to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on or within five Business Days after the immediately succeeding Interest Payment Date).

Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by any Borrower or any of its Subsidiaries, or Administrative Agent as loss payee, of any Net Insurance/Condemnation Proceeds, Borrower Borrowers shall prepay the Loans as set forth in Section 2.15(b2.30(b) in an aggregate amount equal to 100% of such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds; provided, so long as no Default or Event of Default shall have occurred and be continuingcontinuing on the date of the receipt of such Net Insurance/Condemnation Proceeds and through the date of such investment, Borrower Borrowers shall have the option, directly or through one or more of its Subsidiaries, to invest or commit their Subsidiaries to invest such Net Insurance/Condemnation Proceeds up to an amount not to exceed $250,000 within one year hundred eighty (180) days of receipt thereof in long term productive assets of the general type used in the business of Borrower Borrowers and its their Subsidiaries, which investment may include the repair, restoration or replacement of the applicable assets thereof; provided further, pending any such investment all such Net Insurance/Condemnation Proceeds in excess of $1,000,000 for any single event giving rise thereto or series of related events giving rise theretoProceeds, as the case may be, shall be applied to prepay Revolving Loans to the extent outstanding (without a reduction in Revolving Commitments) on or within five Business Days after the immediately succeeding Interest Payment Dateotherwise held in a Deposit Account subject to Collateral Agent’s security interest.