Common use of Business Disruption; Condemnation Clause in Contracts

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor for a period which may be reasonably expected to have a Material Adverse Effect; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Condition; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 13 contracts

Samples: Loan and Security Agreement (Dixie Group Inc), Loan and Security Agreement (Artesyn Technologies Inc), Loan and Security Agreement (Mastec Inc)

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Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor Borrower for a period which may be reasonably expected to have a Material Adverse Effect; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of any material portion of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Condition; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 3 contracts

Samples: Loan and Security Agreement (Integrated Electrical Services Inc), Loan and Security Agreement (Integrated Electrical Services Inc), Loan and Security Agreement (Integrated Electrical Services Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor for a period which may be reasonably expected to have a Material Adverse Effect; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Condition; or any material part of the Collateral shall be taken through condemnation or the value of such Property Collateral shall be materially impaired through condemnation.

Appears in 3 contracts

Samples: Credit Agreement (Ryerson Inc.), Credit Agreement (J.M. Tull Metals Company, Inc.), Credit Agreement (Ryerson Holding Corp)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or any Obligor Subsidiary of Borrower for a period which may be reasonably expected materially adversely affects Borrower’s or such Subsidiary’s capacity to have continue its business on a Material Adverse Effectprofitable basis; or Borrower or any Obligor Subsidiary of Borrower shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Obligor Borrower or any Subsidiary of Borrower which is necessary to the continued or lawful operation of its business; or Borrower or any Obligor Subsidiary of Borrower shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which Borrower or any Obligor leases Subsidiary of Borrower leases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term and term, except any such lease or agreement the cancellation or termination has of which could not reasonably be expected to have a Material Adverse Effect or results in an Out-of-Formula ConditionEffect; or any material part portion of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 3 contracts

Samples: Loan and Security Agreement (Pw Eagle Inc), Loan and Security Agreement (Pw Eagle Inc), Loan and Security Agreement (Pw Eagle Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor Borrower for a period which may be reasonably expected materially adversely affects such Borrower's capacity to have continue its business on a Material Adverse Effectprofitable basis; or any Obligor Borrower shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Obligor Borrower which is necessary to the continued or lawful operation of its business; or any Obligor Borrower shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases Borrower leases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term and term, except any such lease or agreement the cancellation or termination has of which could not reasonably be expected to have a Material Adverse Effect or results in an Out-of-Formula ConditionEffect; or any material part portion of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 2 contracts

Samples: Loan and Security Agreement (D & K Healthcare Resources Inc), Loan and Security Agreement (D & K Healthcare Resources Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor for a period which may be reasonably expected significantly affects such Obligor's capacity to have continue its business, on a Material Adverse Effectprofitable basis; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any such Obligor leases leases, uses or occupies any premises on which any Collateral is located of its properties shall be canceled or terminated other than by an Obligor prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Conditionterm; or any material part of the Collateral shall be taken through condemnation or the value of such Property properties shall be materially impaired through condemnation.; or

Appears in 1 contract

Samples: Loan and Security Agreement (Comtech Telecommunications Corp /De/)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor for a period which may could reasonably be reasonably expected to have a Material Adverse Effect; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary loss or revocation could reasonably be expected to the continued or lawful operation of its businesshave a Material Adverse Effect; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Condition; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Credit Agreement (Superior Essex Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor for a period which that may be reasonably expected to have a Material Adverse Effect; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Condition; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Proxymed Inc /Ft Lauderdale/)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor Borrower for a period which may be reasonably expected to have a Material Adverse Effect; or any Obligor Borrower shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor Borrower which is necessary to the continued or lawful operation of its business; or any Obligor Borrower shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor Borrower leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Condition; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Rhodes Inc)

Business Disruption; Condemnation. There Except with respect to Falcon Mimon, there shall occur a cessation of a substantial part of the business of any Obligor Borrower or any Subsidiary for a period which may be reasonably expected materially adversely affects such Borrower's or such Subsidiary's capacity to have continue its business on a Material Adverse Effectprofitable basis; or any Obligor Borrower or any Subsidiary shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Obligor Borrower or such Subsidiary which is necessary to the continued or lawful operation of its business; or any Obligor Borrower or any Subsidiary shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases Borrower or any Subsidiary leases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term and term, except any such lease or agreement the cancellation or termination of which has not resulted in, and could not reasonably be expected to result in, a Material Adverse Effect or results in an Out-of-Formula ConditionChange; or any material part portion of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Petition Credit Agreement (Falcon Products Inc /De/)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor for a period which may be reasonably expected to have a Material Adverse Effect; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor the loss of which is necessary may be reasonably expected to the continued or lawful operation of its businesshave a Material Adverse Effect; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Condition; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Rowe Companies)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor (other than as a result of a transaction permitted by Section 4.1 hereof) for a period which may be reasonably expected to have a Material Adverse Effect; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula ConditionEffect; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.; or

Appears in 1 contract

Samples: Note Agreement (Pameco Corp)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor Borrower for a period which may be reasonably expected significantly affects Borrower's capacity to have continue its business, on a Material Adverse Effectprofitable basis; or any Obligor Borrower shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor Borrower which is necessary to the continued or lawful operation of its businessbusiness and which loss or revocation will have a Material Adverse Effect; or any Obligor Borrower shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairsaffairs which will have a Material Adverse Effect; or any material lease or agreement pursuant to which any Obligor leases Borrower leases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has will have a Material Adverse Effect or results in an Out-of-Formula ConditionEffect; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Electronics Boutique Holdings Corp)

Business Disruption; Condemnation. (a) There shall occur a cessation of a substantial part of the business of any Obligor for Borrower, any Subsidiary of a period which may be reasonably expected to have a Material Adverse EffectBorrower or any Guarantor; or any Obligor Borrower, any Subsidiary of a Borrower or any Guarantor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued Borrower, Subsidiary or lawful operation of its businessGuarantor; or any Obligor Borrower or any Guarantor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases Borrower or any Guarantor leases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term term, and such cancellation any of the foregoing, has or termination has could reasonably be expected to have a Material Adverse Effect material adverse effect on the business, operations, prospects, properties or results in an Out-of-Formula Conditioncondition of the Borrowers taken as a whole, or on the ability of the Borrowers to perform the Obligations; or (b) any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (United Natural Foods Inc)

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Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor either Borrower for a period which may be reasonably expected significantly affects either Borrower's capacity to have continue its business, on a Material Adverse Effectprofitable basis; or any Obligor either Borrower shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor either Borrower which is necessary to the continued or lawful operation of its business; or any Obligor either Borrower shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases either Borrower leases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has will have a Material Adverse Effect material adverse effect on such Borrower's business, financial condition, Collateral or results in an Out-of-Formula Conditionprospects; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Open Plan Systems Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor for a period which may be reasonably expected significantly affects such Obligor’s capacity to have continue its business, on a Material Adverse Effectprofitable basis; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases leases, uses or occupies any premises on which any Collateral is located of its properties shall be canceled or terminated without such Obligor’s consent or approval prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Conditionterm; or any material part of the Collateral Property shall be taken through condemnation or the value of such Property properties shall be materially impaired through condemnation.; or

Appears in 1 contract

Samples: Loan and Security Agreement (Crown Andersen Inc)

Business Disruption; Condemnation. There shall occur --------------------------------- a cessation of a substantial part of the business of any Obligor for a period which may be reasonably expected to have a Material Adverse Effect; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Condition; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Gulf States Steel Inc /Al/)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor Borrower for a period which may be reasonably expected significantly affects Borrower's capacity to continue its business, on a profitable basis and any loss which could result from such cessation is not fully covered by business interruption insurance (as required by this Agreement and subject to such deductibles as Lender shall have a Material Adverse Effectagreed to in writing); or any Obligor Borrower shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor Borrower which is necessary essential to the continued or lawful operation of its business; or any Obligor Borrower shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases Borrower leases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Conditionterm; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Lowrance Electronics Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor Loan Party for a period which may be reasonably expected to have a Material Adverse Effect; or any Obligor Loan Party shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor Loan Party which is necessary to the continued or lawful operation of any material portion of its business, except for any such loss or revocation that does not have a Material Adverse Effect; or any Obligor Loan Party shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor Loan Party leases or occupies any premises on which any Collateral is located shall be canceled cancelled or terminated prior to the expiration of its stated term terms and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula ConditionEffect; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.; or

Appears in 1 contract

Samples: Credit Agreement (Harris & Harris Group Inc /Ny/)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of Borrower or any Obligor Subsidiary of Borrower for a period which may be reasonably expected materially adversely affects Borrower’s or such Subsidiary’s capacity to have continue its business on a Material Adverse Effectprofitable basis; or Borrower or any Obligor Subsidiary of Borrower shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Obligor Borrower or any Subsidiary of Borrower which is necessary to the continued or lawful operation of its business; or Borrower or any Obligor Subsidiary of Borrower shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which Borrower or any Obligor leases Subsidiary of Borrowerleases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term and Table of Contents term, except any such lease or agreement the cancellation or termination has of which could not reasonably be expected to have a Material Adverse Effect or results in an Out-of-Formula ConditionEffect; or any material part portion of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Pw Eagle Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of the Company, or any Obligor of its Subsidiaries (other than as a result of a transaction permitted by Section 9.1 hereof) for a period which may be reasonably expected significantly affects such Obligor's capacity to have continue its business, consistent with its financial position as of the Closing Date, on a Material Adverse Effectprofitable basis; or any Obligor shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor which is necessary to the continued or lawful operation of its business; or any Obligor shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairs; or any material lease or agreement pursuant to which any Obligor leases or occupies any premises on which any Collateral is located shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has a Material Adverse Effect or results in an Out-of-Formula Conditionterm; or any material part of the Collateral with a value individually or in the aggregate in excess of $50,000 shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.; or

Appears in 1 contract

Samples: Note Purchase Agreement (Rowecom Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Obligor Borrower for a period which may be reasonably expected significantly affects such Borrower's capacity to have continue its business, on a Material Adverse Effectprofitable basis; or any Obligor Borrower shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Obligor Borrower which is necessary to the continued or lawful operation of its businessbusiness and which loss or revocation will have a Material Adverse Effect; or any Obligor Borrower shall be enjoined, restrained or in any way prevented by court, governmental or administrative order from conducting all or any material part of its business affairsaffairs which will have a Material Adverse Effect; or any material lease or agreement pursuant to which any Obligor leases Borrower leases, uses or occupies any premises on which any Collateral is located Property shall be canceled or terminated prior to the expiration of its stated term and such cancellation or termination has will have a Material Adverse Effect or results in an Out-of-Formula ConditionEffect; or any material part of the Collateral shall be taken through condemnation or the value of such Property shall be materially impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Mothers Work Inc)

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