Material Destruction definition

Material Destruction if: (i) the cost of restoration exceeds fifty percent (50%) of the then replacement value of the Leased Premises destroyed; or (ii) the time to restore such damage or destruction is reasonably expected to exceed nine (9) months." Paragraph 12(B) of the Lease is hereby amended and restated as follows:
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Examples of Material Destruction in a sentence

  • If all or any portion of the Center shall be damaged by fire or other casualty, and such damage materially and adversely affects Metropolitan's use of the Center (a "Material Destruction"), Darien may elect to repair and rebuild the Center by delivery of written notice to Metropolitan within 90 days after Darien determines the amount of insurance proceeds available to it arising out of the Material Destruction.

  • COMPANY will provide a Certificate of Microsoft and MS Material Destruction attached hereto as Exhibit D, signed by an officer of the COMPANY as verification of actual MS Material destroyed and/or a representative of Microsoft or MS witnessing such destruction.

  • Employees Excluded From Bargaining Unit: Personnel in the Security and Fire Protection organizations employed by the Company to work in the job classifications listed in Supplement "A" shall not be "employees" within this Agreement, except those assigned to the Material Destruction Worker, Fire Prevention Monitor, Identification/Visitor Control Specialist and Locksmith, Senior classifications.

Related to Material Destruction

  • Premises Total Destruction means damage or destruction to the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in six (6) months or less from the date of the damage or destruction. Lessor shall notify Lessee in writing within thirty (30) days from the date of the damage or destruction as to whether or not the damage is Partial or Total.

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • material hoist means a hoist used to lower or raise material and equipment, excluding passengers; "medical certificate of fitness" means a certificate contemplated in regulation 7(8);

  • 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.

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