Common use of Prepayment Upon an Event of Loss Clause in Contracts

Prepayment Upon an Event of Loss. Borrowers shall bear the risk of any loss, theft, destruction, or damage of or to the Financed Equipment. If, during the term of this Agreement, any item of Financed Equipment becomes obsolete or is lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason for a period equal to at least the remainder of the term of this Agreement (an “Event of Loss”), then, within ten (10) days following the later of (i) the date of such Event of Loss or (ii) the settlement of any insurance claim relating thereto, but not later than one hundred ten (110) days following the Event of Loss, Borrowers shall either (i) pay to Bank on account of the Obligations all outstanding principal that had been advanced with respect to the Financed Equipment subject to the Event of Loss, plus all accrued interest relating to such principal; or, if no Event of Default has occurred and is continuing, at Borrowers’ option, (ii) repair or replace any Financed Equipment subject to the Event of Loss provided (x) the repaired or replaced Financed Equipment is of equal or like value to the Financed Equipment subject to an Event of Loss, (y) Bank has a first priority perfected security interest in such repaired or replaced Financed Equipment, and (z) the Borrowers shall be subject to any limit on the use of insurance proceeds contained in this Agreement. Principal prepayments pursuant to this subsection shall be applied to the principal payments due on the Equipment Advances in the inverse order of maturity.

Prepayment Upon an Event of Loss. Borrowers Borrower shall bear the risk of any loss, theft, destruction, or damage of or to the Financed Equipment. If, during the term of this Agreement, any item of Financed Equipment becomes obsolete or is lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason for a period equal ending beyond the Equipment Maturity Date or, as applicable, the 2009 Equipment Maturity Date with respect to at least the remainder of the term of this Agreement such Financed Equipment (an “"Event of Loss”"), then, within ten (10) days following the later of (i) the date of such Event of Loss or (ii) the settlement of any insurance claim relating thereto, but not later than one hundred ten (110) days following the Event of Loss, Borrowers Borrower shall either (i) pay to Bank on account of the Obligations all accrued interest to the date of the prepayment, plus all outstanding principal that had been advanced owing with respect to the Financed Equipment subject to the Event of Loss, plus all accrued interest relating to such principal; or, or (ii) if no Event of Default has occurred and is continuing, at Borrowers’ Borrower's option, (ii) repair or replace any Financed Equipment subject to the an Event of Loss provided (x) the repaired or replaced Financed Equipment is of equal or like value to the Financed Equipment subject to an Event of Loss, (y) Loss and provided further that Bank has a first priority perfected security interest in such repaired or replaced Financed Equipment, and (z) the Borrowers shall be subject to any limit . Any partial prepayment of an Equipment Advance or 2009 Equipment Advance paid by Borrower on the use account of insurance proceeds contained in this Agreement. Principal prepayments pursuant to this subsection an Event of Loss shall be applied to the principal payments due on the prepay amounts owing for such Equipment Advances Advance or 2009 Equipment Advance in the inverse order of maturity." 3. The Loan Agreement shall be amended by inserting the following new Section 2.1.6 (entitled "2009 Equipment Advances") to appear immediately following the existing Section 2.1.5 thereof (entitled "Equipment Advances"):

Prepayment Upon an Event of Loss. Borrowers shall bear the risk of any loss, theft, destruction, or damage of or to the Financed Equipment. If, during the term of this Agreement, any item of Financed Equipment becomes obsolete or is lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason for a period equal to at least the remainder of the term of this Agreement any Equipment Advance or Equipment B Advance that financed such Financed Equipment (an “Event of Loss”), then, within ten (10) days following the later of (i) the date of such Event of Loss or (ii) the settlement of any insurance claim relating thereto, but not later than one hundred ten (110) days following the Event of Loss, Borrowers shall either (i) pay to Bank on account of the Obligations all outstanding principal that had been advanced with respect to the Financed Equipment subject to the Event of Loss, plus all accrued interest relating to such principal; or, if no Event of Default has occurred and is continuing, at Borrowers’ option, (ii) repair or replace any Financed Equipment subject to the Event of Loss provided (x) the repaired or replaced Financed Equipment is of equal or like value to the Financed Equipment subject to an Event of Loss, (y) Bank has a first priority perfected security interest in such repaired or replaced Financed Equipment, and (z) the Borrowers shall be subject to any limit on the use of insurance proceeds contained in this Agreement. Principal prepayments pursuant to this subsection shall be applied to the principal payments due on the Equipment Advances or Equipment B Advance (as applicable) in the inverse order of maturity. 2.3 Section 2.3

Prepayment Upon an Event of Loss. Borrowers Borrower shall bear the risk of any loss, theft, destruction, or damage of or to the Financed Equipment. If, during the term of this Agreement, any item of Financed Equipment becomes obsolete or is lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason for a period equal ending beyond the Equipment Maturity Date or, as applicable, the 2009 Equipment Maturity Date with respect to at least the remainder of the term of this Agreement such Financed Equipment (an “Event of Loss”), then, within ten (10) days following the later of (i) the date of such Event of Loss or (ii) the settlement of any insurance claim relating thereto, but not later than one hundred ten (110) days following the Event of Loss, Borrowers Borrower shall either (i) pay to Bank on account of the Obligations all accrued interest to the date of the prepayment, plus all outstanding principal that had been advanced owing with respect to the Financed Equipment subject to the Event of Loss, plus all accrued interest relating to such principal; or, or (ii) if no Event of Default has occurred and is continuing, at Borrowers’ Borrower’s option, (ii) repair or replace any Financed Equipment subject to the an Event of Loss provided (x) the repaired or replaced Financed Equipment is of equal or like value to the Financed Equipment subject to an Event of Loss, (y) Loss and provided further that Bank has a first priority perfected security interest in such repaired or replaced Financed Equipment, and (z) the Borrowers shall be subject to any limit . Any partial prepayment of an Equipment Advance or 2009 Equipment Advance paid by Borrower on the use account of insurance proceeds contained in this Agreement. Principal prepayments pursuant to this subsection an Event of Loss shall be applied to the principal payments due on the prepay amounts owing for such Equipment Advances Advance or 2009 Equipment Advance in the inverse order of maturity.” and inserting in lieu thereof the following:

Prepayment Upon an Event of Loss. Borrowers Borrower shall bear the risk of any loss, theft, destruction, or damage of or to the Financed Equipment. If, during the term of this Agreement, any item of Financed Equipment becomes obsolete or is lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason for a period equal ending beyond the Equipment Maturity Date, the 2009 Equipment Maturity Date, or the 2010 Equipment Maturity Date, as applicable, with respect to at least the remainder of the term of this Agreement such Financed Equipment (an “Event of Loss”), then, within ten (10) days following the later of (i) the date of such Event of Loss or (ii) the settlement of any insurance claim relating thereto, but not later than one hundred ten (110) days following the Event of Loss, Borrowers Borrower shall either (i) pay to Bank on account of the Obligations all accrued interest to the date of the prepayment, plus all outstanding principal that had been advanced owing with respect to the Financed Equipment subject to the Event of Loss, plus all accrued interest relating to such principal; or, or (ii) if no Event of Default has occurred and is continuing, at Borrowers’ Borrower’s option, (ii) repair or replace any Financed Equipment subject to the an Event of Loss provided (x) the repaired or replaced Financed Equipment is of equal or like value to the Financed Equipment subject to an Event of Loss, (y) Loss and provided further that Bank has a first priority perfected security interest in such repaired or replaced Financed Equipment. Any partial prepayment of an Equipment Advance, and (z) the Borrowers shall be subject to any limit 2009 Equipment Advance, or 2010 Equipment Advance paid by Borrower on the use account of insurance proceeds contained in this Agreement. Principal prepayments pursuant to this subsection an Event of Loss shall be applied to the principal payments due on the prepay amounts owing for such Equipment Advances Advance, 2009 Equipment Advance, or 2010 Equipment Advance in the inverse order of maturity.” 2. The Loan Agreement shall be amended by inserting the following new Section 2.1.7 (entitled “2010 Equipment Advances”) to appear immediately following the existing Section 2.1.6 thereof (entitled “2009 Equipment Advances”):