Common use of Events of Loss Clause in Contracts

Events of Loss. (a) Subject to the Collateral Documents, in the case of an Event of Loss with respect to any Notes Collateral, the Borrower or the affected Restricted Subsidiary, as the case may be, shall apply the Net Loss Proceeds from such Event of Loss, within 450 days after receipt, at its option to:

Events of Loss. (a) Subject to the Collateral Documents, in the case of an Event of Loss with respect to any Notes Collateral, the Borrower Company or the affected Restricted Subsidiary, as the case may be, shall apply the Net Loss Proceeds from such Event of Loss, within 450 days after receipt, at its option to:

Events of Loss. (a) Subject to the Collateral Documents, in the case of an Event of Loss with respect to any Notes Term Priority Collateral, or, after the Discharge of the ABL Obligations, an Event of Loss with respect to ABL Collateral, the Borrower or the affected Restricted Subsidiary, as the case may be, shall apply the Net Loss Proceeds from such Event of Loss, within 450 365 days after receipt, at its option to: