Constructive or ‘Compromised’ Total Loss means where We determine that either the reasonable cost of repairs exceed the sum insured, or where the net value being the sum insured, less the resid‐ ual value of the Scheduled Vessel, is exceeded by or in Our opinion is likely to be exceeded by the reasonable cost of repairs.
Constructive. Termination is defined as (a) a material reduction of the Optionee's duties, responsibilities, or authorities or a material adverse change in the prestige of Optionee's title, including without limitation, if the Optionee is required to report to any individual other than the Board, if the Optionee is not the highest ranking officer of the Company's ultimate parent entity or if Optionee is assigned material duties or material responsibilities that are not normally associated with the position of President and Chief Executive Officer of a company of similar size and market capitalization to the Company, (b) a reduction by the Company of the then current Base Compensation of the Optionee, (c) a relocation of the Company's headquarters of more than 35 miles from its location on the date hereof or a change in the Optionee's principal business location to a location other than the corporate headquarters, (d) a failure of the Board to nominate Optionee as a director of the Company; provided, however, that the replacement of Optionee as Chairman of the Board shall not constitute a Constructive Termination or (e) a breach by the Company of a material provision of this Agreement. If the Company cures such Constructive Termination within 10 days after its receipt of the Optionee's written notice, then Optionee will not be able to terminate her employment in a Qualifying Termination based on the event(s) in question. Each provision of this Agreement that provides for payments to be paid or material benefits to be provided to Optionee shall be deemed to be a material provision of this Agreement. If the Optionee does not give the Company notice that she will terminate her employment as a result of a Constructive Termination within sixty (60) days following the date she has actual knowledge of the material facts giving rise to the basis for such termination, the Optionee shall be deemed to have irrevocably waived the right to give notice on such basis unless the Company consents in writing to an extension of such period. For purposes of the foregoing waiver provision, the Company shall have the burden of proving actual knowledge of the Optionee of the material facts giving rise to the basis for such termination.
Constructive. Constructive Owner," "Constructively Owns" and "Constructively Owned" shall have the correlative meanings.
Examples of Constructive in a sentence
Condition P5 – Constructive engagement concerning local tariff modifications 1.
Constructive comments noting areas in need of improvement are encouraged.
Any certificate representing Shares shall bear substantially the following legend: The Shares represented by this certificate are subject to restrictions on Beneficial and Constructive Ownership and Transfer for the purpose, among others, of the Corporation’s maintenance of its status as a real estate investment trust (a “REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”).
Customers may order switched access through a Constructive Order, as defined herein, or through an ASR.
IDV shall be treated as the ‘Market Value’ throughout the policy period without any further depreciation for the purpose of Total Loss (TL) / Constructive Total Loss (CTL) claims.
More Definitions of Constructive
Constructive or “Constructively”: the constructive stock ownership rules of Section 318 of the Code, as modified by Section 856(d)(5) of the Code.
Constructive means in the next section.) We can use tauto to dispatch all of the purely propositional theorems we have proved so far.
Constructive as defined in I.C.C. freight tariff 4-J). For each day cars are held in excess of this allowable detention time, Seller shall have the right to collect from Buyer as liquidated damages Seller’s then applicable daily rate for each day, or part thereof, that car is held by Buyer in excess of this allowable detention time. If any of Seller’s cars arrive at destination in damaged condition, Buyer shall immediately notify railroad agent at destination of such damage, and also make immediate report thereof to Seller. All repairs to cars shall be made under the supervision or the direction of the Seller. When Product(s) are to be shipped by barges or vessels, an addendum will be prepared.
Constructive knowledge of the Shareholders. For these purposes "CONSTRUCTIVE KNOWLEDGE" shall mean that knowledge or information that a prudent individual could be reasonably expected to discover or otherwise become aware of in the course of the Company's Business.
Constructive knowledge of the present officers of MIOA. For these purposes "CONSTRUCTIVE KNOWLEDGE" shall mean that knowledge or information that a prudent individual could be reasonably expected to discover or otherwise become aware of in the course of the Company's Business.
Constructive when used with respect to arrival of a Truck means upon notification by the carrier that such Truck is available for receipt.
Constructive is a legal word of art