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 third Business Day following the date of receipt by Administrative Agent or by Company or any of its Domestic Subsidiaries (including Domestic Borrowers) of any Net Insurance/Condemnation Proceeds that are required to be applied to prepay the Loans and/or reduce the Revolving Loan Commitments pursuant to the provisions of subsection 5.4B, (i) each Domestic Borrower shall prepay its Term Loans in an amount equal to the result of the following calculation: such Borrower's Proportionate Percentage of the Term Loans times the lesser of (A) the portion of the Net Insurance/Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and (B) the aggregate amount of the Term Loans and (ii) the Revolving Loan Commitment to each Domestic Borrower shall be permanently reduced by an amount equal to the applicable Domestic Borrower's Proportionate Percentage of Revolving Loan Commitments multiplied by the positive difference between the Net Insurance/Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and amounts applied to the Term Loans under clause (i) of this subsection.

Prepayments and Reductions from Net Insurance/Condemnation Proceeds. No later than the third Business Day ten days following the date of receipt by Administrative Collateral Agent or by Company or any of its Domestic Restricted Subsidiaries that are Loan Parties (including Domestic Borrowers) of any Net Insurance/Condemnation Proceeds that are required to be applied to prepay the Loans and/or permanently reduce the US Revolving Loan Commitments and the Multicurrency Revolving Loan Commitments on a pro rata basis pursuant to the provisions of subsection 5.4B, the Borrowers shall (i) each Domestic Borrower shall prepay its the Term Loans in an amount equal to the result of the following calculation: such Borrower's Proportionate Percentage of the Term Loans times the lesser of (A) the portion of the Net Insurance/Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and (B) the aggregate amount of the Term Loans and outstanding, and/or (ii) if and to the extent required by subsection 2.4B(iii), permanently reduce the US Revolving Loan Commitment to each Domestic Borrower shall be permanently reduced Commitments and the Multicurrency Revolving Loan Commitments on a pro rata basis by an amount equal to the applicable Domestic Borrower's Proportionate Percentage of respective US Revolving Loan Commitments and Multicurrency Revolving Loan Commitments, as the case may be, multiplied by the positive difference (if any) between the Net Insurance/Condemnation Proceeds permitted to be applied to the Loans under the terms of the Intercreditor Agreement and amounts applied to the Term Loans under clause (i) of this subsectionsubsection (c).