Materially Damaged definition

Materially Damaged means damage which, in Seller's reasonable estimation, exceeds $200,000.00 to repair or which, in Seller's reasonable estimation, will take longer than ninety (90) days to repair.
Materially Damaged means damage (w) resulting in the Property not complying with all legal requirements applicable to the Property, (x) reasonably exceeding $300,000 or (y) that entitles any tenant of the Property to terminate its Lease, or (z) which, in Buyer’s or Seller’s reasonable estimation, will take longer than 120 days to repair.
Materially Damaged means, with respect to the Property, damage which in REIT’s and Contributor’s reasonable estimation (based on a third party report, prepared by a qualified third party, that is mutually acceptable to REIT and Contributor, each acting in its reasonable discretion) exceeds $100,000 to repair. Such third party report shall not be required where it is evident that such damage will not exceed $100,000 to repair.

Examples of Materially Damaged in a sentence

  • If such Property is not Materially Damaged, then neither Purchaser nor Seller shall have the right to terminate this Agreement; however, the obligations with respect to the insurance policies and the deductible set forth in subsection (i) above shall still apply.


More Definitions of Materially Damaged

Materially Damaged means damage which, in Hersha Owner’s reasonable estimation as reviewed and confirmed in good faith by Owner JV, equals or exceeds ten percent (10%) of the Purchase Price.
Materially Damaged means damage which, in Seller’s reasonable estimation, exceeds $250,000.00 to repair.
Materially Damaged means damage reasonably exceeding ten percent of the Purchase Price of the Real Property, and (ii) "MATERIAL PORTION" means any portion of the Real Property that has a "fair market value" exceeding 10% of the Purchase Price of the Real Property.
Materially Damaged means and refer to any damage for which the cost of repair or reconstruction, as determined by bids solicited and obtained from at least two (2) licensed contractors selected by the Board, is equal to or greater than One Million Dollars ($1,000,000.00) as adjusted by a fraction whose numerator is the CPI last published as of the date of such damage or destruction and whose denominator is the CPI last published as of the date of recordation of this Declaration.
Materially Damaged means damage reasonably exceeding $25,000 to repair or which, in the reasonable estimation of a mutually acceptable third party contractor, will take longer than 30 days to repair.
Materially Damaged means damage reasonably exceeding 10 percent of the Purchase Price to repair.
Materially Damaged means damage (i) reasonably exceeding two (2%) percent of the purchase price to repair, (ii) that entitles a tenant to terminate its Lease, or (iii) which, in Buyer's reasonable estimation, will take longer than ninety (90) days to repair.