Material Loss means an uninsured:
Material Loss means any damage, loss or destruction to any portion of the Real Property, the loss of which is equal to or greater than Five Hundred Thousand and No/100 Dollars ($500,000.00) (measured by the cost of repair or replacement).
Material Loss means all costs, expenses, damages or liabilities, including attorneys’ fees and other costs of litigation (either threatened or pending) arising out of or based on a breach by a Participant (“Indemnifying Participant”) of any representation, warranty or covenant contained in this Agreement, including without limitation:
Examples of Material Loss in a sentence
A Material Loss shall not be deemed to have occurred until, in the aggregate, an Indemnified Participant incurs losses, costs, damages or liabilities in excess of One Hundred Thousand Dollars ($100,000) relating to breaches of warranties, representations and covenants contained in this Agreement.
More Definitions of Material Loss
Material Loss means any Event of Loss the Restoration of which is reasonably estimated by the Borrower to cost more than $500,000.
Material Loss is defined in Section 17.3.
Material Loss is a casualty that results, as of the Closing Date, in the termination or announced termination of a Lease for an Anchor Tenant, or the cessation or announced cessation of business by an Anchor Department Store with no plans to reopen, or the termination of other Leases aggregating more than twenty percent (20%) of leasable area of the Real Property (excluding for these purposes space covered by Leases for Anchor Tenants), or a condemnation or taking which materially and adversely affects access to or from the Real Property on a permanent basis or results in the permanent loss of more than five percent (5%) of the existing leasable area of the Real Property or which will result in the termination of any Lease for an Anchor Tenant.
Material Loss has the meaning ascribed to it in Section 7.12(b).
Material Loss means a loss resulting from a casualty that either (i) diminishes the value of the Property in an amount of at least 10% of the Purchase Price or (ii) results in a loss of at least 10% of the aggregate square footage of the Land as of the Effective Date.
Material Loss shall occur to the Property prior to the Closing Date. For purposes of this Agreement, “Material Loss” means damage, loss, or destruction of the Property after the Effective Date in excess of One Hundred Thousand Dollars ($100,000) that is not caused by Buyer or Buyer’s employees, agents, consultants, or invitees. If, before the Closing Date, the Property suffers a Material Loss, then Buyer may either (i) terminate this Agreement and the rights and obligations of the parties hereunder by delivering written notice thereof to Seller and Escrow Holder (the “Termination Right”), in which event Sections 4.3(a) through (d) hereof shall apply, or (ii) accept the Property in its existing condition (the “Acceptance Right”). If Buyer exercises its Acceptance Right, Buyer will receive an assignment of all insurance proceeds, or other recoveries related thereto, at the Close of Escrow. If Buyer exercises its Termination Right, Buyer must notify Seller and Escrow Holder of this election within ten (10) business days after Buyer receives written notice from Seller of the damage or destruction.
Material Loss means damage, loss, or destruction of the Property after the Effective Date in excess of One Hundred Thousand Dollars ($100,000) that is not caused by Buyer or Buyer’s employees, agents, consultants, or invitees. If, before the Closing Date, the Property suffers a Material Loss, then Buyer may either (i) terminate this Agreement and the rights and obligations of the parties hereunder by delivering written notice thereof to Seller and Escrow Holder (the “Termination Right”), in which event Sections 4.3(a) through (d) hereof shall apply, or (ii) accept the Property in its existing condition (the “Acceptance Right”). If Buyer exercises its Acceptance Right, Buyer will receive an assignment of all insurance proceeds, or other recoveries related thereto, at the Close of Escrow. If Buyer exercises its Termination Right, Buyer must notify Seller and Escrow Holder of this election within ten (10) business days after Buyer receives written notice from Seller of the damage or destruction.