Major Replacement definition

Major Replacement means any structural repair or structural replacement which will cost more than $750,000.

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Major Replacement means repairs that will be require a system to be shut down for more than four (4) hours or cost work and replacement parts is more than $200.00.

Major Replacement means changes to a dam structure that has a measurable effect on the storage behind the dam or flows from the dam. At a minimum, a major replacement involves any change in the outlet structure, impoundment structure, or operational conditions that affects downstream flows or upstream impoundment conditions.

Examples of Major Replacement in a sentence

• Throughout the Term, other than Major Replacement Expenditures, Tenant will be solely responsible for all costs and expenses incurred in updating, operating, maintaining, repairing and replacing the roofs of the Single User Buildings, subject to Sections 5.7 and 5.8.

• Upon Landlord's approval of a Major Replacement, Landlord will cause such Major Replacement to be performed.

• Upon such approval, Landlord will cause such Major Replacement to be performed.

• Tenant will provide notice to Landlord if a Major Replacement is required.

• Notwithstanding anything to the contrary contained in this Lease, Landlord will be permitted to include in Costs annual installments for the amortization of each Major Replacement Expenditure over the useful life of the applicable Major Replacement.

• If Landlord does not, in the exercise of its reasonable business judgment, determine that a Major Replacement is required, then Tenant shall proceed with a repair (as required herein), unless such repair also constitutes a Major Replacement.

• Tenant will provide notice to Landlord if Tenant determines, in its reasonable business judgement, that a Major Replacement is required, and Landlord will have the right to review and inspect the equipment or the portion of the Building requiring the Major Replacement and to approve the Major Replacement, which approval will not be unreasonably withheld, conditioned, or delayed.

• Either (i) a Loss shall have occurred and the amount of such Loss uncompensated by insurance shall exceed $2,000,000, (ii) a Major Loss shall have occurred for which the Borrower has undertaken to accomplish a Major Replacement and the Major Replacement Construction Requirements shall not have been satisfied by the Major Replacement Construction Deadline, or (iii) a Total Loss shall have occurred.

• The Allocation Holder shall pay six (6) percent of the State’s share of Major Replacement Costs.

• EMCC is solely responsible for the cost of connecting EMCC’s irrigation system to EM3, for all future connections and for maintaining existing and future physical connections, which connections shall not be considered either a Major Replacement or Minor Replacement.

More Definitions of Major Replacement

Major Replacement means the repair and replacement of any portion of the Project that becomes subject to a Major Loss and for which each of following conditions has been satisfied: (i) the Insurance Consultant has conducted a review of the available proceeds of insurance with respect to such Loss, including the amount and duration for which delay in start-up insurance proceeds or business interruption insurance proceeds will be available during the

Major Replacement means work will requires a cost of replacement parts in excess of $500.00.

Major Replacement means the replacement of a structural item, system or component costing $50,000.00 or more. If Landlord performs a Major Replacement pursuant to this Section, Tenant shall pay to Landlord, as an addition to the rent, an amount which will amortize the cost of the Major Replacement together with interest at the rate of 9% per annum in 120 equal monthly installments. The first monthly installment shall be due and payable on the first day of the month following the date that the Major Replacement is completed. Installments in the same amount shall continue to be due and payable on the first day of each month for the remainder of the term of this Lease, including any option term exercised by Tenant, until the cost of the Major Replacement has been fully reimbursed. However, if the term of this Lease expires before the cost of the Major Replacement is fully reimbursed, Tenant shall not be responsible for the unamortized balance remaining at the expiration of this Lease.

Major Replacement for dams or diversions means any alteration to the dam or diversion that allows for the consideration of fish passage that considers: