Common use of Prepayments and Reductions from Net Insurance/Condemnation Proceeds Clause in Contracts

Prepayments and Reductions from Net Insurance/Condemnation Proceeds. No later than the third Business Day following the date of receipt by Administrative Agent or by Company or any of its Domestic Subsidiaries (including Borrowers) of any Net Insurance/Condemnation Proceeds that are required to be applied to prepay the Loans and/or reduce the Revolving Loan Commitments pursuant to the provisions of subsection 5.4, (i) the Borrowers shall prepay the Term Loans in an amount equal to the lesser of (A) the portion of the Net Insurance/ Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and (B) the aggregate outstanding amount of the Term Loans, and (ii) the Revolving Loan Commitment shall be permanently reduced by an amount equal to the Revolving Loan Commitments multiplied by the positive difference between the Net Insurance/Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and amounts applied to the Term Loans under clause (i) of this subsection.

Prepayments and Reductions from Net Insurance/Condemnation Proceeds. No later than the third Business Day following the date of receipt by Administrative Agent or by Company or any of its Domestic Subsidiaries that are Loan Parties (including Borrowers) of any Net Insurance/Condemnation Proceeds that are required to be applied to prepay the Loans and/or reduce the Revolving Loan Commitments pursuant to the provisions of subsection 5.45.4B, the Borrowers shall (i) the Borrowers shall prepay the Term Loans in an amount equal to the lesser of (A) the portion of the Net Insurance/ Insurance/Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and (B) the aggregate outstanding amount of the Term LoansLoans outstanding, and (ii) permanently reduce the Revolving Loan Commitment shall be permanently reduced Commitments by an amount equal to the Revolving Loan Commitments multiplied by the positive difference (if any) between the Net Insurance/Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and amounts applied to the Term Loans under clause (i) of this subsection.

Prepayments and Reductions from Net Insurance/Condemnation Proceeds. No later than the third Business Day following the date of receipt by Administrative Agent or by Company or any of its Domestic Subsidiaries (including Borrowers) of any Net Insurance/Condemnation Proceeds that are required to be applied to prepay the Loans and/or reduce the Revolving Loan Commitments pursuant to the provisions of subsection 5.4, (i) the Borrowers shall prepay the Term Loans in an amount equal to the lesser of (A) the portion of the Net Insurance/ Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and (B) the aggregate outstanding amount of the Term Loans, and (ii) the Revolving Loan Commitment Commitments shall be permanently reduced by an amount equal to the Revolving Loan Commitments multiplied by the positive difference between the Net Insurance/Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and amounts applied to the Term Loans under clause (i) of this subsection.