Major Casualty Event definition

Major Casualty Event means any casualty event:
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Major Casualty Event has the meaning given in Section 3.5.2 of the Depositary Agreement.
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Major Casualty Event means any loss of or damage to property through one or more related events for which the Parent Guarantor or any of its Subsidiaries receives any insurance proceeds under any casualty insurance policy or any condemnation of property (or any transfer or disposition of property in lieu of condemnation) for which the Parent Guarantor or any of its Subsidiaries receives a condemnation award or other compensation, with respect to which the aggregate amount of such proceeds, award or other compensation exceeds $1,000,000.
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Examples of Major Casualty Event in a sentence

  • Should Lessor seek to terminate this Lease due to a Major Casualty Event or an Extended Force Majeure Event, Lessor will provide Notice to BREP at least ninety (90) days prior to the proposed Termination Date.

  • Should BREP seek to terminate this Lease due to a Major Casualty Event or an Extended Force Majeure Event, BREP will provide Notice to Lessor at least ninety (90) days prior to the proposed Termination Date.

  • Its strength determines the degree of power or dominance a person will seek.

  • Three (3) semester hours count as 1 unit of high school credit.Dual Credit CoursesA student who successfully completes a dual credit course may receive credit at both the college and high school level.1. The student is a junior or senior in good academic standing;2.

  • In determining whether to approve such plan the Intercreditor Agent shall give due regard to any off-hire or loss of earnings insurance that may be payable in respect of the relevant Major Casualty Event.

  • Should the State seek to terminate this Agreement due to a Major Casualty Event or an Extended Force Majeure Event, the State will provide Notice to BREP at least ninety (90) days prior to the proposed Termination Date.

  • Should BREP seek to terminate this Agreement due to a Major Casualty Event or an Extended Force Majeure Event, BREP will provide Notice to the State at least ninety (90) days prior to the proposed Termination Date.

  • In the event of a Casualty Event at the Shaw Center Plant that in the reasonable judgment of BREP does not constitute a Major Casualty Event, this Lease will remain in full force and effect, BREP will repair or replace the Covered Assets as quickly as practicable, and BREP will be obligated to apply any proceeds of insurance with respect to such Casualty Event maintained by BREP, but excluding business interruption proceeds, as necessary to complete such repair and replacement.


More Definitions of Major Casualty Event

Major Casualty Event means a Covered Asset Loss under a Lease that in the reasonable judgment of LAEP constitutes fifty percent or greater (=>50%) of the Thermal Services Capacity at such Covered Facility that was in place immediately prior to such Covered Asset Loss.
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Major Casualty Event has the meaning given in the respective Project Company Depositary Agreements.
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Major Casualty Event means, with respect to any Mortgaged Property, a Casualty Event that either results in (i) damage to such Mortgaged Property of $750,000 or more, as determined by the Borrower in good faith or (ii) a taking of such Mortgaged Property (or portion thereof) with a value
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Major Casualty Event means an event or circumstance that results in the loss, destruction or material damage to at least:
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Major Casualty Event a Recovery Event yielding gross proceeds to ASC or any of its Restricted Subsidiaries in excess of $15,000,000.
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Major Casualty Event means any loss of or damage to property through one or more related events for which New Valero or any of its Subsidiaries receives any insurance proceeds under any casualty insurance policy or any condemnation of property (or any transfer or disposition of property in lieu of condemnation) for which New Valero or any of its Subsidiaries receives a condemnation award or other compensation, with respect to which the aggregate amount of such proceeds, award or other compensation exceeds $5,000,000 ; provided that such event shall not constitute a Major Casualty Event if New Valero notifies the Administrative Agent promptly after receipt of such proceeds, award or other compensation that the same will be committed by New Valero and its Subsidiaries to be used to repair or replace the affected asset within six months of the date of such notice and will be so used within thirty-six months of the date of such notice, but only to the extent such proceeds, award or other compensation is actually so used.
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Related to Major Casualty Event

  • Casualty Event means any event that gives rise to the receipt by the Parent Borrower or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed assets or real property.

  • Foreign Casualty Event shall have the meaning assigned to such term in Section 2.05(b)(viii).

  • Major Casualty means, in relation to a Ship, any casualty to that Ship in respect of which the claim or the aggregate of the claims against all insurers, before adjustment for any relevant franchise or deductible, exceeds $500,000 or the equivalent in any other currency;

  • Condemnation Event means any act of taking by a public or quasi-public authority through condemnation, reverse condemnation or eminent domain.

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Recovery Event any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating to any asset of any Group Member.

  • Loss Event means (A) an annual pre-tax loss at GS Inc. or (B) annual negative revenues in one or more reporting segments as disclosed in the Firm’s Form 10-K other than the Investing & Lending segment, or annual negative revenues in the Investing & Lending segment of $5 billion or more, provided in either case that you are employed in a business within such reporting segment.

  • Insurance and Condemnation Event means the receipt by any Credit Party or any of its Subsidiaries of any cash insurance proceeds or condemnation award payable by reason of theft, loss, physical destruction or damage, taking or similar event with respect to any of their respective Property.

  • Major Asset Disposition means the sale or other disposition in one transaction or a series of related transactions of 50% or more of the assets of the Company and its subsidiaries on a consolidated basis; and any specified percentage or portion of the assets of the Company shall be based on fair market value, as determined by a majority of the members of the Incumbent Board;

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Cash Proceeds means proceeds that are money, checks, deposit accounts, or the like.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Asset Sale means any sale, issuance, conveyance, transfer, lease or other disposition (including, without limitation, by way of merger, consolidation or sale and leaseback transaction) (collectively, a “transfer”), directly or indirectly, in one or a series of related transactions, of:

  • Casualty Loss means, with respect to any item of Equipment, the loss, theft, damage beyond repair or governmental condemnation or seizure of such item of Equipment.

  • Material Condemnation has the meaning set forth in Section 14.2.1.

  • Casualty Value means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.

  • Asset Disposition means any sale, lease, transfer or other disposition (or series of related sales, leases, transfers or dispositions) by the Company or any Restricted Subsidiary, including any disposition by means of a merger, consolidation or similar transaction (each referred to for the purposes of this definition as a “disposition”), of:

  • Net Cash Proceeds with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of attorneys' fees, accountants' fees, underwriters' or placement agents' fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof.

  • Event of Loss means, with respect to any Property, any of the following: (a) any loss, destruction or damage of such Property; (b) any pending or threatened institution of any proceedings for the condemnation or seizure of such Property or for the exercise of any right of eminent domain; or (c) any actual condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, of such Property, or confiscation of such Property or the requisition of the use of such Property.

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Material Casualty has the meaning set forth in Section 14.1.1.

  • Noncash proceeds means proceeds other than cash proceeds.

  • Excluded Asset Disposition means an Asset Disposition permitted pursuant to Section 7.05 other than Asset Dispositions pursuant to Sections 7.05(vii), (xiii), and (xv).

  • Asset Sale Proceeds means, with respect to any Asset Sale,