Common use of Net Insurance/Condemnation Proceeds Received by Company Clause in Contracts

Net Insurance/Condemnation Proceeds Received by Company. Upon receipt by Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, (a) so long as no Event of Default shall have occurred and be continuing, Company shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply such Net Insurance/Condemnation Proceeds to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received or, to the extent not so applied, to prepay the Loans (and/or the Revolving Loan Commitment Amount shall be reduced) as provided in subsection 2.4B, and (b) if an Event of Default shall have occurred and be continuing, Company shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitment Amount shall be reduced) as provided in subsection 2.4B.

Net Insurance/Condemnation Proceeds Received by Company. Upon receipt by Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, , (a) so long as no Event of Default or Potential Event of Default shall have occurred and be continuing, Company shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply such Net Insurance/Condemnation Proceeds to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received or, to the extent not so applied, to prepay the Loans Loans, including collateralizing Bankers’ Acceptances (and/or the Revolving Loan Commitment Amount Commitments shall be reduced) as provided in subsection 2.4B2.4A, and and (b) if an Event of Default or Potential Event of Default shall have occurred and be continuing, Company shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans Loans, including collateralizing Bankers’ Acceptances (and/or the Revolving Loan Commitment Amount Commitments shall be reduced) as provided in subsection 2.4B.2.4A.

Net Insurance/Condemnation Proceeds Received by Company. Upon receipt by Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, , (a) so long as no Event of Default shall have occurred and be continuing, if the amount of such Net Insurance/Condemnation Proceeds exceed $2,000,000, Company shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply an amount equal to such Net Insurance/Condemnation Proceeds to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received or, to the extent not so appliedapplied within 270 days of receipt, to prepay the Loans (and/or the Revolving Loan Commitment Amount Commitments shall be reduced) as provided in subsection 2.4B, and and (b) if an Event of Default shall have occurred and be continuing, Company shall apply an amount equal to such Net Insurance/Insurance/ Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitment Amount Commitments shall be reduced) as provided in subsection 2.4B.

Net Insurance/Condemnation Proceeds Received by Company. Upon receipt by Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds other than from business interruption insurance, , (a) so long as no Event of Default shall have occurred and be continuing, if the amount of such Net Insurance/Condemnation Proceeds exceed $2,000,000, Company shall, or shall cause one or more of its Subsidiaries to, promptly and diligently apply an amount equal to such Net Insurance/Condemnation Proceeds to pay or reimburse the costs of repairing, restoring or replacing the assets in respect of which such Net Insurance/Condemnation Proceeds were received or, to the extent not so appliedapplied within 270 days of receipt, to prepay the Loans (and/or the Revolving Loan Commitment Amount Commitments shall be reduced) as provided in subsection 2.4B, and and (b) if an Event of Default shall have occurred and be continuing, Company shall apply an amount equal to such Net Insurance/Condemnation Proceeds to prepay the Loans (and/or the Revolving Loan Commitment Amount Commitments shall be reduced) as provided in subsection 2.4B.