Nonseverable definition

Nonseverable means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed.

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Nonseverable shall describe an Alteration or part of an Alteration which cannot be removed from the Property or the existing Improvements without causing material damage to the Property or Improvements; provided that Lessee’s Equipment and Personalty shall not be deemed to be Nonseverable regardless of any damage that may be caused by the removal thereof.

Nonseverable means a Modification or part of a Modification the removal of which from the Leased Property would materially impair the Fair Market Value, utility, useful life or residual value thereof as set forth in the Appraisal.

Examples of Nonseverable in a sentence

• Type of Service Requirements Select Severable, Non-severable Service, or Not Applicable for this Order Line.

• All Required Modifications, all Nonseverable Modifications and all Modifications financed by the Owner Lessor by an Additional Equity Investment or a Supplemental Financing pursuant to Section 11.2 of the Participation Agreement shall automatically upon being affixed to or incorporated into the Facility become subject to this Head Lease without any action by any Person whatsoever and shall be deemed to be a part of the Facility for all purposes of this Head Lease.

• The Monongahela also includes all future Nonseverable Improvements.

• The Lessee shall notify the Lessor of any Mandatory Alterations, Nonseverable Modifications and Severable Modifications or any series of related Modifications (whether related by type or function) for the Facility installed and having an estimated cost per Modification or such series of related Modifications, as the case may be, in excess of $500,000.

• Except as required under Section 9.2(d) and as permitted under Section 10.1, Lessee may not remove any Nonseverable Alterations.

More Definitions of Nonseverable

Nonseverable shall describe (i) with respect to any Alteration, an Alteration which is a "nonseverable improvement" within the meaning of Revenue Procedure 79-48 and (ii) with respect to any part not constituting an Alteration or part of an Alteration, a part which cannot be readily removed from the equipment without causing material damage to the Facility.

Nonseverable shall describe an Alteration or part of an Alteration which cannot be readily removed from the Properties without causing damage (other than that of a de minimis nature) to the Properties.

Nonseverable shall describe a Modification or part of a Modification which cannot be readily removed from the Leased Property without causing material damage to or materially impairing the value of the Leased Property.

Nonseverable means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed. Precious metals means silver, gold, platinum, palladium, iridium, osmium, rhodium, and ruthenium. Production scrap means unusable material resulting from production, engineering, operations and maintenance, repair, and research and development contract activities. Production scrap may have value when re-melted or reprocessed, e.g., textile and metal clippings, borings, and faulty castings and forgings. Property means all tangible property, both real and personal.

Nonseverable means a Modification or part of a Modification which cannot be readily removed from the Leased Property without causing material damage to or materially impairing the Fair Market Value, utility, useful life or residual value thereof as set forth in the Appraisal delivered on or prior to the Document Closing Date.

Nonseverable means, with respect to any Alteration, any Alteration that is not a Severable Alteration.

Nonseverable means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed. "Precious metals" means silver, gold, platinum, palladium, iridium, osmium, rhodium, and ruthenium.