Common use of Loss of Licenses Clause in Contracts

Loss of Licenses. Any governmental authority revokes or fails to renew any material license, permit or franchise of the Borrower or any Subsidiary, or the Borrower or any Subsidiary for any reason loses any material license, permit or franchise, or the Borrower or any Subsidiary suffers the imposition of any restraining order, escrow, suspension or impound of funds in connection with any proceeding (judicial or administrative) with respect to any material license, permit or franchise, which could reasonably be expected to result in (i) a reduction of Consolidated Net Income attributable thereto in excess of $2,000,000 or (ii) losses or liability of the Borrower or any of its Subsidiaries, individually or in the aggregate, in excess of $2,000,000.

Loss of Licenses. Any governmental authority revokes or fails to renew any material license, permit or franchise of the Borrower or any Subsidiary, or the Borrower or any Subsidiary for any reason loses any material license, permit or franchise, or the Borrower or any Subsidiary suffers the imposition of any restraining order, escrow, suspension or impound of funds in connection with any proceeding (judicial or administrative) with respect to any material license, permit or franchise, which could reasonably be expected to result in (i) a reduction of Consolidated Net Income attributable thereto in excess of $2,000,000 or (ii) losses or liability of the Borrower or any of its Subsidiaries, individually or in the aggregate, in excess of $2,000,000.