Common use of Event or Event of Default Clause in Contracts

Event or Event of Default. Notwithstanding the foregoing, after any 97-10/Event, and when any Event of Default has occurred and is continuing, BNPPLC will be entitled to receive and collect all insurance, condemnation or other proceeds governed by this Paragraph 10 and to apply all Remaining Proceeds, when and to the extent deemed appropriate by BNPPLC in its sole discretion, either (A) to the reimbursement of NAI or BNPPLC for the out-of-pocket cost of repairing or restoring the Property, or (B) as Qualified Prepayments.

Event or Event of Default. Notwithstanding the foregoing, after any 97-10/Event, Event and when any Event of Default has occurred and is continuing, BNPPLC will be entitled to receive and collect all insurance, condemnation or other proceeds governed by this Paragraph 10 5 and to apply all Remaining Proceeds, when and in such order and to the such extent deemed appropriate by BNPPLC in its sole discretion, either (A) to the reimbursement of NAI or BNPPLC for the out-of-pocket cost of repairing or restoring the Property, or (B) as Qualified Prepayments.

Event or Event of Default. Notwithstanding the foregoing, after any 97-10/Event, and when any Event of Default has shall have occurred and is be continuing, BNPPLC will shall be entitled to receive and collect all insurance, condemnation or other proceeds governed by this Paragraph 10 9 and to apply all Remaining Proceeds, when and to the extent deemed appropriate by BNPPLC in its sole discretion, either (A) to the reimbursement of NAI Specialty Laboratories or BNPPLC for the out-of-pocket cost of repairing or restoring the Property, or (B) as Qualified Prepayments.

Event or Event of Default. Notwithstanding the foregoing, after any 97-10/Event, and when any Event of Default has shall have occurred and is be continuing, BNPPLC will shall be entitled to receive and collect all insurance, condemnation or other proceeds governed by this Paragraph 10 5 and to apply all Remaining Proceeds, when and in such order and to the such extent deemed appropriate by BNPPLC in its sole discretion, either (A) to the reimbursement of NAI Specialty Laboratories or BNPPLC for the out-of-pocket cost of repairing or restoring the Property, or (B) as Qualified Prepayments.