Destroyed Asset definition
Destroyed Asset has the meaning set forth in Section 6.14 hereof.
Destroyed Asset means any Portfolio Property owned by Buyer for purposes of the Code for which the representations and warranties set forth in Section 3.2(g)(iii)-(vi) were true and correct on the Closing Date when title to such Portfolio Property (or the Specified Financing and Lease Asset for which such Portfolio Property served as On-Lease Equipment) was transferred to Buyer and that is sufficiently destroyed by a casualty event as to be rendered, in the judgment of the insurance company insuring such Portfolio Property against loss or damage, a total loss.