Common use of Prepayments and Reductions from Net Insurance/Condemnation Proceeds Clause in Contracts

Prepayments and Reductions from Net Insurance/Condemnation Proceeds. No later than the first Business Day following the date of receipt by Administrative Agent or by Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds that are required to be applied as a prepayment pursuant to the provisions of subsection 8.4C, Company shall prepay the Loans and collateralize Bankers’ Acceptances, and the Revolving Loan Commitments shall be permanently reduced, as provided in subsection 2.4A(iv) and subsection 2.4F, as applicable, in an aggregate amount equal to the amount of such Net Insurance/Condemnation Proceeds.