Casualty definition

Casualty shall have the meaning set forth in Section 6.2 hereof.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Casualty means the occurrence of any casualty, damage or injury, by fire or otherwise, to the Property or any part thereof.

Casualty means any casualty, loss, damage, destruction or other similar loss with respect to real or personal property or improvements.

Examples of Casualty in a sentence

If neither Holder Representative nor Buyer timely makes such an election, then the Parties shall proceed to the Closing in accordance with this Agreement and reduce the Base Merger Consideration by the aggregate amount of the Casualty Estimates.
If Holder Representative does not make any election as set forth in the preceding sentence within ten (10) Business Days after receipt of such Casualty Estimate, then the amount of the Base Merger Consideration shall automatically be reduced by the Casualty Estimate.
If the Casualty Estimate is equal to or less than an amount equal to one percent (1%) of the Base Merger Consideration, then (A) neither Buyer nor Holder Representative shall have the right or option to terminate this Agreement as a result thereof and (B) there shall be no reduction in the amount of the Base Merger Consideration in respect of the Casualty Estimate as provided in clause (i) above, and the Parties shall proceed to the Closing in accordance with this Agreement.
If the aggregate amount of the Casualty Estimates is in excess of or equal to an amount equal to ten percent (10) of the Base Merger Consideration, then either Holder Representative or Buyer may, by written notice to the other Parties within ten (10) Business Days after the date of receipt of such Casualty Estimate, elect to terminate this Agreement.
Following the Closing, until ▇▇▇▇▇ makes such Casualty Loss Assignment, Buyer shall use commercially reasonable efforts to recover all available amounts under Proceedings against third parties, insurance Proceedings or Insurance Policies.

More Definitions of Casualty

Casualty means any loss of or damage to any property included within or related to the Properties or arising from an adjoining property caused by an Act of God, fire, flood or other catastrophe.

Casualty means any damage or destruction of any kind or nature, ordinary or extraordinary, foreseen or unforeseen, affecting any or all Improvements, whether or not insured or insurable.

Casualty has the meaning set forth in Section 12.13.1 hereof.

Casualty means, with respect to a Financed Vehicle, the total loss or destruction of such Financed Vehicle.

Casualty shall have the meaning specified in Section 6.2 hereof.

Casualty is defined as damage to or destruction of the Property by fire or other casualty.

Casualty means any fire, storm, earthquake, tornado, flood or natural disaster or other sudden, unexpected or unusual cause of damage or destruction.