Commercially Reasonable Manner or “Commercially Reasonable” means, with respect to a given goal or requirement, the manner, efforts and resources a reasonable person in the position of the promisor would use, in the exercise of its reasonable business discretion and industry practice, so as to achieve that goal or requirement, which in no event shall be less than the level of efforts and resources standard in the industry for comparable companies with respect to comparable products. Factors used to determine whether a goal or requirement has been performed in a “Commercially Reasonable Manner” may include, but shall not be limited to, any specific factors or considerations identified in the Agreement as relevant to such goal or requirement.
Commercially Reasonable Manner means a public sale of the
Commercially Reasonable Manner means a public sale of the personal property in the self-storage space. The personal property may be sold in the owner's discretion on or off the self-service storage facility site as a single lot or in parcels. If five or more bidders are in attendance at a public sale of the personal property, the proceeds received are deemed to be commercially reasonable.
Examples of Commercially Reasonable Manner in a sentence
Seller shall determine the number and extent of Planned Outages in a Commercially Reasonable Manner recognizing that it is the intent of the Parties to maximize production of the Facility and to such extent Seller shall be excused from providing the Product during such Planned Outage(s).
If the Non-Defaulting Party establishes an Early Termination Date, then the Non-Defaulting Party shall calculate its Gains or Losses and Costs resulting from the termination as of the Early Termination Date, in a Commercially Reasonable Manner.
The Party claiming Force Majeure shall act in a Commercially Reasonable Manner to remedy the Force Majeure as soon as practicable and shall keep the other Party advised as to the continuance of the Force Majeure event.
If any such obligation is unascertained, the Non-Defaulting Party may in a Commercially Reasonable Manner estimate that obligation and set-off in respect of the estimate, subject to the relevant Party providing an accounting and true-up to the other Party after the amount of the obligation is ascertained.
Seller shall act in a Commercially Reasonable Manner to maximize the output of the Facility in a safe manner to generate the Product and to minimize the occurrence, extent, and duration of any event adversely affecting the generation of the Product, in each case consistent with Prudent Utility Practice.
More Definitions of Commercially Reasonable Manner
Commercially Reasonable Manner means, with respect to any purchase or sale or other action required to be made, attempted, or taken by a Party under this Agreement, such efforts as a prudent business would undertake (x) for the protection of its own interests under the conditions affecting such purchase or sale or other action, including the amount of notice of the need to take such purchase or sale or other action, the duration and type of the purchase or sale or other action, the competitive environment in which such purchase or sale or other action occurs, the risk and cost to the Party required to take such purchase or sale or other action, the obligations of the Party under this Agreement to the other Party, and (y) to mitigate any disproportionate impact of such purchase or sale or other action on the other Party.
Commercially Reasonable Manner means methods reasonably estimated to have the lowest cost on a present value basis (from the perspective of a reasonable business person acting without regard to the availability of indemnification hereunder) for performing a particular Response Action, without changing the use of any real property, to achieve compliance with Environmental Law or an order by a Governmental Authority or judgment or settlement in connection with a Proceeding (including for these purposes only any administrative action) brought by an unaffiliated third party; it being understood that such “commercially reasonable manner” shall include methods to obtain a covenant not to xxx or a no further action letter or other release from a Governmental Authority from an asserted violation of or liability under Environmental Laws; it being further understood that such Commercially Reasonable Manner shall include, where appropriate, risk-based remedies or remedial standards, institutional or engineering controls or deed restrictions on real property; and
Commercially Reasonable Manner means (i) providing the Business with a level of administrative, maintenance and marketing support that is consistent with the support being provided to the Business by the Company as of the Closing Date (as adjusted to take into consideration any growth of the Business during the Earn-out Period) and (ii) providing, subject to Section 3(b) hereof, the Company with sufficient funding or access to funding to enable the Company to continue to make available its consumer finance products to current or new customers in the ordinary course of its business reflecting new origination volume consistent with the Company’s projections provided to Parent prior to the date of the Agreement.
Commercially Reasonable Manner has the meaning set forth in Section 9.6(b) hereof.
Commercially Reasonable Manner means a commercially reasonable, cost-effective method for investigation, remediation, removal, corrective action, containment, monitoring and/or other response action, determined from the perspective of a reasonable business person acting without regard to the availability of indemnification under this Agreement to achieve compliance with Environmental Laws in effect as of the time such actions are being performed (and with respect to the Leased Real Property, to achieve compliance with any Real Property Lease as in effect as of the Closing Date or, if less restrictive, as amended thereafter), including the reasonable use of risk-based remedies, institutional or engineering controls or deed restrictions; provided that such remedies, controls or restrictions do not prevent or inhibit any commercial or industrial use (as applicable) of the Real Property at the time such actions are being performed and provided, further, that, with respect to any Leased Real Property, the applicable lessor consents to any such remedies, controls or restrictions to the extent such consent is required by the relevant Real Property Lease or any Applicable Law.
Commercially Reasonable Manner means a reasonable and cost-effective method available under the circumstances determined (x) from the perspective of a reasonable business person (acting without regard to the availability of indemnification under this Agreement) to meet the requirements of any applicable Environmental Law or to meet the demands of any applicable Governmental Authority or as required by any judicial or administrative resolution, order or settlement agreement of a Third Party Claim, it being understood that such Commercially Reasonable Manner may include, where appropriate, the use of engineering or institutional controls and a deed or other restriction, so long as such control or restriction would be acceptable to a reasonable business person (acting without regard to the availability of indemnification under this Agreement), does not materially limit the use of the relevant property for industrial or commercial activities and so long as such control or restriction is acceptable to the Governmental Authority with primary jurisdiction over the matter.
Commercially Reasonable Manner has the meaning set forth in Section 10.06(c).