Material Casualty Loss definition

Material Casualty Loss has the meaning provided such term in Section 6.8.
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Material Casualty Loss is defined in Section 7.11.
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Material Casualty Loss has the meaning set forth in Section 7.2.
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Examples of Material Casualty Loss in a sentence

  • If a Casualty Loss occurs and such Casualty Loss would reasonably be expected to have a Material Adverse Effect (a “Material Casualty Loss”), PBF Energy shall have the right to extend the Closing Date for up to 45 days for the purpose of repairing or replacing the assets destroyed or damaged by the Material Casualty Loss.

  • The costs to repair or replace the assets destroyed or damaged by the Material Casualty Loss shall be borne by PBF Energy.

  • If HOLDINGS does not repair or replace the Assets destroyed or damaged by the Material Casualty Loss prior to the Closing to the reasonable satisfaction of MLP and the Parties are unable to agree on a value to compensate MLP for the Material Casualty Loss, MLP may terminate this Agreement upon fifteen (15) days written notice to HOLDINGS.

  • If a Casualty Loss occurs and such Casualty Loss would reasonably be expected to have a Material Adverse Effect (a “Material Casualty Loss”), MLP shall have the right to extend the Closing Date for up to forty-five (45) days for the purpose of repairing or replacing the Assets destroyed or damaged by the Material Casualty Loss.

  • The costs to repair or replace the Assets destroyed or damaged by the Material Casualty Loss shall be shared by the Parties in the same percentage of their respective ownership interest in the JV.

  • If a Casualty Loss occurs and such Casualty Loss would reasonably be expected to have a Material Adverse Effect (a “Material Casualty Loss”), MLP shall have the right to extend the Closing Date for up to (45) days for the purpose of repairing or replacing the Assets destroyed or damaged by the Material Casualty Loss.

  • The costs to repair or replace the Assets destroyed or damaged by the Material Casualty Loss shall be borne by Seller.

  • With respect to the JV, the costs to repair or replace the Assets destroyed or damaged by the Material Casualty Loss shall be shared by the Parties in the same percentage of their respective ownership interest in the JV.

  • If a Casualty Loss occurs and such Casualty Loss would reasonably be expected to have a Material Adverse Effect (a “Material Casualty Loss”), Buyer shall have the right to extend the Closing Date for up to forty-five (45) days for the purpose of repairing or replacing the Assets destroyed or damaged by the Material Casualty Loss.

  • If following the occurrence of a Material Casualty Loss the Company fails to make an election pursuant to this Section 7.15 on or prior to Closing, the Seller Representative shall be deemed to have made an election described in clause (a) immediately above.


More Definitions of Material Casualty Loss

Material Casualty Loss has the meaning set forth in Section 5.6.4 hereof.
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Material Casualty Loss shall have the meaning ascribed thereto in Section 7.15(a). "Material Environmental Condition" shall have the meaning ascribed thereto in Section 7.02(b).
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Material Casualty Loss. A casualty loss to any Project where (i) the damaged portion of such Project is more than 25% of the net leasable square footage of such Project; or (ii) the insurance proceeds for such damage are more than 25% of the outstanding balance of the Note secured by such Project.
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Material Casualty Loss shall have the meaning given such term in Section 6.2. “Materiality Condition” shall have the meaning given such term in Section 10.5. “MIDSTREAM” shall have the meaning given such term in the introductory paragraph. “MIDSTREAM Cash Consideration” shall have the meaning given such term in Section 2.2. “MIDSTREAM Consideration” shall have the meaning given such term in Section 2.2. “MIDSTREAM Contribution” shall have the meaning given such term in Section 2.1.
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Material Casualty Loss means, with respect to the Sale Property taken as a whole, any one or more events of Casualty resulting in loss or damage suffered to the land for which the cumulative effect, without consideration of any loss or damage suffered to the Improvements, results in damage suffered to the land portion of the Sale Property for which the uninsured or underinsured loss or estimated costs to restore such land portion to its pre-casualty condition exceeds Five Million and 00/100 Dollars ($5,000,000).
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Material Casualty Loss shall have the meaning given to it in Section 6.20(a). “Material Contracts” shall have the meaning given to it in Section 4.14(a). “Material Customer” shall have the meaning given to it in Section 4.20(a). “Material Debt Contract” shall have the meaning given to it in Section 4.14(a). “Material Leased Real Property” means (a) all real property leased, subleased or licensed to or from the Company and/or the Company Subsidiaries with an annual base rent payable to or by the Company or any Company Subsidiary in excess of $100,000, (b) all real property that provides the primary means of access to a road, dock or waterway that is necessary for the current operation of the Business at the applicable real property or (c) a material portion of a real property that is necessary for the current operation of the Business. “Material Supplier” shall have the meaning given to it in Section 4.20(a). “MGS” means MIC Global Services, LLC, a Delaware limited liability company. “MGS Employee” means those full time, active employees of MGS identified by name and employing entity on Section 1.1(e) of the Company Disclosure Letter. “MIC” shall have the meaning given to it in the Preamble. “MIC Equity Plan” means the MIC 2016 Omnibus Employee Incentive Plan. “MIC Group” means, as of a given date, the controlled Affiliates of MIC other than the Company and the Company Subsidiaries. “New Corporate Names” shall have the meaning given to it in Section 6.22(c). “NJDEP” means the New Jersey Department of Environmental Protection. “Non-Assignable Business Contracts” has the meaning given to it in Section 6.5(b)(iii). “Nonparty Affiliates” shall have the meaning given to it in Section 9.14(a). “Notice of Objection” shall have the meaning given to it in Section 2.3(b). “OFAC” has the meaning given to it in the definition of Specified Business Conduct Laws. 18
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Related to Material Casualty Loss

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

  • 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.

  • Material Loss means an uninsured:

  • 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;

  • Casualty shall have the meaning set forth in Section 6.2 hereof.

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

  • Insured Casualty has the meaning set forth in Section 5.1(x)(iv)(B).

  • Force Majeure Exception means any failure or delay in the performance of the Fund’s reporting obligation pursuant to Section 2.3 arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents; acts of civil or military authority and governmental action. The Fund shall use commercially reasonable efforts to commence performance of its obligations during any of the foregoing circumstances.

  • Condemnation means a temporary or permanent taking by any Governmental Authority as the result or in lieu or in anticipation of the exercise of the right of condemnation or eminent domain, of all or any part of the Property, or any interest therein or right accruing thereto, including any right of access thereto or any change of grade affecting the Property or any part thereof.

  • Property Loss Event means any loss of or damage to property of Group or any Subsidiary thereof that results in the receipt by such Person of proceeds of insurance in excess of $2,000,000 or any taking of property of Group or any Subsidiary thereof that results in the receipt by such Person of a compensation payment in respect thereof in excess of $2,000,000.

  • Environmental Loss means any loss, cost, damage, liability, deficiency, fine, penalty or expense (including, without limitation, reasonable attorneys' fees, engineering and other professional or expert fees), investigation, removal, cleanup and remedial costs (voluntarily or involuntarily incurred) and damages to, loss of the use of or decrease in value of the Equipment arising out of or related to any Adverse Environmental Condition.

  • 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.

  • Environmental Defect means, with respect to any given Asset, a material violation of Environmental Laws in effect as of the Effective Time in the jurisdiction in which such Asset is located.

  • Significant change means a major decline or improvement in the tenant’s status which does not normally resolve itself without further interventions by staff or by implementing standard disease-related clinical interventions that have an impact on the tenant’s mental, physical, or functional health status.

  • Material Project means the construction or expansion of any capital project of the Borrower or any of its Subsidiaries, the aggregate capital cost of which exceeds $50,000,000.

  • 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.

  • Major Defect means a condition that exists on a ground ambulance vehicle that requires the Department or the certificate holder to place the ground ambulance vehicle out-of-service.

  • Casualty Consultant shall have the meaning set forth in Section 6.4(b)(iii) hereof.

  • Material Defect As defined in Section 2.02(c) hereof.

  • 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.

  • Material Property means all Real Property owned in fee in the United States by any Credit Party, in each case, with a fair market value of $7,425,000 (as determined by the Borrower in good faith) or more, as determined (i) with respect to any Real Property owned by any Credit Party on the Closing Date, as of the Closing Date, and (ii) with respect to any Real Property acquired by a Credit Party after the Closing Date, as of the date of such acquisition.

  • Partial Condemnation means any Condemnation which does not constitute a Termination Event.

  • Uninsured motor vehicle" means a land motor vehicle or trailer of any type:

  • Adverse Effect has the meaning assigned to such term in Section 2.1.5;

  • 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.