Loss replacement Sample Clauses

Loss replacement. To replace or repair as promptly as possible any building or equipment leased by operator from the owner that may be destroyed or damaged by fire, flood or other cause beyond the control of the operator or to make rental adjustments in lieu of replacements.

Loss replacement. To replace or repair as promptly as possible conservation structures damaged by natural causes.

Loss replacement. ‌ (1) In the event that any item of the Property shall become lost, stolen, destroyed or damaged beyond repair for any reason, or in the event of any condemnation, confiscation, theft or seizure or expropriation of such items, other than a confiscation, seizure or expropriation by Her Majesty, the Borrower shall promptly inform the Minister thereof. The Minister may elect to receive a cash payment equal to the replacement value of such item or to direct the Borrower to take immediate steps to cause the replacement of such item with property which is free and clear of all liens and encumbrances and which, in the opinion of the Minister, is similar in condition and value to the item of Property prior to the occurrence of any of the foregoing events. Such replacement shall take place at the Borrower's expense and, upon completion of the replacement, such replacement or part shall become subject to this Loan Agreement and the replaced item of the Property shall simultaneously be released from the terms hereof. (2) The Minister agrees not to elect to receive a cash payment if the item of the Property is still required to complete the uses as specified at Article 2 or if the Borrower’s insurance policy precludes the payment of cash instead of replacing the item, as evidenced to the reasonable satisfaction of the Minister. The Term "Property" as used in this Loan Agreement shall include such replacement or part unless the context otherwise requires. Nothing herein shall require the Borrower to expend any sum greater than the replacement value of the Property, as set forth in Schedule "A" hereto, as to any single occurrence of loss or damage.

Loss replacement. Subject to the provisions of and upon the completion of three months continuous employment, a person employed for fifty percent (50%) or more of the normal working hours who is absent from work due to personal illness or injury, which absence is covered by the Compensation Act or the Canada Pension Flan, shall be eligible to receive a disability income benefit. The benefit will equal sixty percent (60%) of the employee's insurable earnings a8 determined by the Unemployment Insurance Act Regulations and be paid for a maximum of fifteen (15) weeks commencing the sixth (6th) working day of disability. Should the disability exceed five (5) consecutive working days, the benefit will commence on the first day of disability.