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 Borrower or any of its Subsidiaries for a period which would have a Material Adverse Effect; any Borrower or any of its Subsidiaries shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Borrower or such Subsidiary which is necessary to the continued or lawful operation of its business and which loss or revocation has a Material Adverse Effect; or any Borrower or any of its Subsidiaries 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; and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Borrower or any of its Subsidiaries leases, uses or occupies any Property shall be canceled or terminated prior to the expiration of its stated term and which cancellation or termination has a Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Gentiva Health Services Inc)

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Business Disruption; Condemnation. There shall occur --------------------------------- a cessation of a substantial part of the business of any Borrower Company Party or any of its their Subsidiaries for a period which would have materially adversely affects such Person's capacity to continue its business on a Material Adverse Effectprofitable basis; or any Borrower Company Party or any of its their Subsidiaries shall suffer the loss or revocation of any material license or permit now held or hereafter acquired by such Borrower or such Subsidiary Person which is necessary to the continued or lawful operation of its business and which loss or revocation has a Material Adverse Effectbusiness; or any Borrower Company Party or any of its their Subsidiaries 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; and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Borrower Company Party or any of its their Subsidiaries leases, uses or occupies any Property property shall be canceled or terminated prior to the expiration of its stated term and which 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 any material portion of the Collateral shall be taken through condemnation or the value of such property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Securities Purchase Agreement (Falcon Products Inc /De/)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Borrower, any Subsidiary of any Borrower or any of its Subsidiaries for a period which would have significantly affects any Borrower's capacity to continue its business, on a Material Adverse Effectprofitable basis; any Borrower or any Borrower, or any Subsidiary of its Subsidiaries Borrower shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Borrower or such Subsidiary which is necessary to the continued or lawful operation of its business and which loss or revocation has a Material Adverse Effectbusiness; or any Borrower or any of its Subsidiaries 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; and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Borrower or any of its Subsidiaries Guarantor leases, uses or occupies any Property shall be canceled or terminated prior to the expiration of its stated term and which cancellation term; or termination has a Material Adverse Effectany part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Tmci Electronics Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Borrower, any Subsidiary of any Borrower or any of its Subsidiaries Company for a period which would have significantly affects any Borrower's or Company's capacity to continue its business, on a Material Adverse Effectprofitable basis; or any Borrower, any Subsidiary of any Borrower or any of its Subsidiaries Company shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such any Borrower or such Subsidiary Company which is necessary to the continued or lawful operation of its business and which loss or revocation has a Material Adverse Effectbusiness; or any Borrower or any of its Subsidiaries Company 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; and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Borrower or any of its Subsidiaries Company leases, uses or occupies any Property shall be canceled or terminated prior to the expiration of its stated term and which cancellation term; or termination has a Material Adverse Effectany part of the Collateral shall be taken through condemnation or the value of such Property shall be impaired through condemnation.

Appears in 1 contract

Samples: Loan and Security Agreement (Eagle Pacific Industries Inc/Mn)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Borrower Obligor or any of its Subsidiaries for a period which would have significantly affects such Obligor's capacity to continue its business, on a Material Adverse Effectprofitable basis; or any Borrower Obligor or any of its Subsidiaries shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Borrower or such Subsidiary Subsidiaries which is necessary to the continued or lawful operation of its business and which loss or revocation has a Material Adverse Effectbusiness; or any Borrower such Obligor or any of its such Subsidiaries 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; and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Borrower such Obligor or any of its Subsidiaries such Subsidiary leases, uses or occupies any Property shall be canceled or terminated prior to the expiration of its stated term and which cancellation term; or termination has a Material Adverse Effectany material portion of any Property of the Company or any Subsidiary of the Company shall be taken through condemnation or the value of such Property shall be impaired through condemnation.

Appears in 1 contract

Samples: Securities Purchase Agreement (Eagle Pacific Industries Inc/Mn)

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Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Borrower or any of its Subsidiaries for a period which would have a Material Adverse Effect; any Borrower or any of its Subsidiaries shall suffer the loss or revocation of any license or permit now held or hereafter acquired by such Borrower or such Subsidiary which is necessary to the continued or lawful operation of its business and which loss or revocation has a Material Adverse Effect; or any Borrower or any of its Subsidiaries 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; affairs and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Borrower or any of its Subsidiaries leases, uses or occupies any Property shall be canceled or terminated prior to the expiration of its stated term and which cancellation loss or termination has a Material Adverse Effect.

Appears in 1 contract

Samples: Loan and Security Agreement (Gentiva Health Services Inc)

Business Disruption; Condemnation. There shall occur a cessation of a substantial part of the business of any Borrower or any of its Subsidiaries Subsidiary thereof for a period which would have significantly affects such Borrower's or such Subsidiary's capacity to continue its business, on a Material Adverse Effect; profitable basis, or any Borrower or any of its Subsidiaries Subsidiary thereof shall suffer the loss or revocation of any license or permit material Permit now held or hereafter acquired by such Borrower or such Subsidiary which that is necessary to the continued or lawful operation of its business and which loss or revocation has a Material Adverse Effect; business, or any Borrower or any of its Subsidiaries Subsidiary thereof 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; and such enjoining, restraint or prevention has a Material Adverse Effect; or any material lease or agreement pursuant to which any Borrower or any of its Subsidiaries Subsidiary thereof leases, uses or occupies any Property shall be canceled or terminated prior to the expiration of its stated term and which cancellation term, or termination has a Material Adverse Effectany 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 (Questron Technology Inc)

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