Recovery Event

Recovery Event. Shall mean the receipt by the Borrower or any of its Subsidiaries of any cash insurance proceeds or condemnation award payable by reason of theft, loss, physical destruction or damage, taking or similar event with respect to any of their respective property or assets (other than, solely for purposes of Section 2.7(b)(vi), property or assets of a Foreign Subsidiary which are subject to a Lien of the type described in clause (xi) of the definition of "Permitted Liens").

Recovery Event. Any settlement of or payment to Borrower with respect to any property or casualty insurance claim or any condemnation proceeding relating to any asset of such party.