Proceeds of Casualty Events. (a) So long as no Event of Default shall have occurred and be continuing, in the event there shall be any Net Cash Proceeds in respect of any Casualty Event, the applicable Credit Party shall have the right, at such Credit Party’s option, to apply such Net Cash Proceeds in accordance with the applicable provisions of this Agreement.
Appears in 7 contracts
Samples: Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.), Credit Agreement (Cpi International, Inc.)
Proceeds of Casualty Events. (a) So long as no Event of Default shall have occurred and be continuing, in the event there shall be any Net Cash Proceeds in respect of any Casualty Event, the applicable Credit Party shall have the right, at such Credit Party’s 's option, to apply such Net Cash Proceeds in accordance with the applicable provisions of this Agreement.
Appears in 2 contracts
Samples: Credit Agreement (Cpi Holdco Inc), Credit Agreement (Communications & Power Industries Inc)
