Common use of Recovery Event Clause in Contracts

Recovery Event. To the extent cash proceeds are received in connection with a Recovery Event and are not applied to repair, replace or relocate damaged property or to purchase or acquire fixed or capital assets in replacement of the assets lost or destroyed within one hundred eighty (180) days of the receipt of such cash proceeds, the Borrower shall prepay the Revolving Loans in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds not so applied (such prepayment to be applied as set forth in clause (v) below).

Recovery Event. To the extent of cash proceeds are received in connection with a Recovery Event which are in excess of $10,000,000 in the aggregate and which are not applied to repair, replace or relocate damaged property or to purchase or acquire fixed or capital assets in replacement of the assets lost or destroyed within one hundred eighty 270 days (180or 360 days, in the case of improvements to real property) days of the receipt of such cash proceeds, the Borrower shall prepay the Revolving Loans in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds not so applied such cash proceeds (such prepayment to be applied as set forth in clause (vvi) below).

Recovery Event. To the extent of cash proceeds are received in connection with a Recovery Event and in excess of $1,000,000 in the aggregate in any 44 fiscal year which are not applied to toward the repair, replace replacement or relocate damaged property or to purchase or acquire fixed or capital assets in replacement relocation of the assets lost or destroyed property subject to such Recovery Event within one hundred eighty 180 days (180or, if contractually obligated otherwise, a longer period, but in any event not to exceed 365 days) days of the receipt of such cash proceeds, immediately following the expiration of such 180 day or longer period, the Borrower shall prepay the Revolving Loans and cash collateralize the LOC Obligations in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds not so applied such cash proceeds (such prepayment to be applied as set forth in clause (vvi) below).

Recovery Event. To the extent of cash proceeds are received in connection with a Recovery Event which are in excess of $10,000,000 in the aggregate and which are not applied to repair, replace or relocate damaged property or to purchase or acquire fixed or capital assets in replacement of the assets lost or destroyed within one two hundred eighty seventy (180270) days (or three hundred sixty (360) days, in the case of improvements to real property) of the receipt of such cash proceeds, the Borrower shall prepay the Revolving Loans in an aggregate amount equal to one hundred percent (100%) of the Net Cash Proceeds not so applied such cash proceeds (such prepayment to be applied as set forth in clause (viv) below).