property damages definition

property damages means any claim for damage to property or for economic loss caused by the condition of a road or infrastructure but does not include any damage or loss arising out of personal injury or death;
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property damages means physical injury to tangible property, including all resulting loss of use of the property, or loss of use of tangible property not physically injured.
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property damages means, with respect to a Company Title Breach, an amount determined by the following calculation: (i) a fraction, (A) the numerator of which is the decrease in the Fair Market Value of the Idaho Properties, as a whole (with such Fair Market Value determined as of the Closing Date), resulting solely from a Company Title Breach, and (B) the denominator of which is the Fair Market Value of the Idaho Properties, as a whole (determined as of the Closing Date and assuming for such purposes that such Company Title Breach had not occurred); multiplied by (ii) $276,500,000.00 (less the aggregate amount of any prior decreases in value of the Idaho Properties related to prior Company Title Breaches for which Investor has made valid Claims); multiplied by (iii) 0.15; multiplied by (iv) a fraction, (A) the numerator of which is the number of Shares owned by Investor at the time a Claim is made by Investor under Section 8.02(a)(i) (as adjusted for stock splits, dividends, recapitalizations and the like) and (B) the denominator of which is the number of Shares owned by Investor immediately following the Closing (as adjusted for stock splits, dividends, recapitalizations and the like). If the parties cannot agree on the Fair Market Value of the Idaho Properties after good faith negotiation, for purposes of calculating the Property Damages, such Fair Market Value determinations shall be made by Xxxxx Xxxxxxx & Company, Inc. or such other independent mining consulting company as may be mutually agreeable to the parties (the “FMV Consultant”). All fees and expenses of the FMV Consultant will be allocated equally between the Company and Investor. For the avoidance of doubt, the calculation set forth in clause (i) above is intended to determine the percentage diminution in value of the Idaho Properties (as of the Closing Date) caused solely by the Company Title Breach. Solely by way of example, if a Company Title Breach is determined to have decreased the Fair Market Value of the Idaho Properties by $20,000,000 (as of the Closing Date) and the Fair Market Value of the Idaho Properties (as of the Closing Date) is determined to be $400,000,000, the Property Damages would be equal to (I) 0.05 (e.g., $20,000,000 divided by $400,000,000); multiplied by (II) $276,500,000.00; multiplied by (III) 15% (assuming, at such time, Investor continues to hold the same number of Shares Investor held on the Closing Date).
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Examples of property damages in a sentence

  • The easement prohibits residential development on the site and prohibits hotel development on a portion of the site.On October 20, 2015, the Company received notice from the Claims Administrator for the Deepwater Horizon Economic and Property Damages Settlement Program that the Company’s claim in the amount of $2,106,281 qualifies for payment under the terms of the Economic and Property Damages Settlement Agreement.

  • Certain Sellers have filed claims under the Deepwater Horizon Economic and Property Damages Settlement Agreement for economic damages arising from the oil spill that resulted from the explosion and sinking of the Deepwater Horizon drilling rig in the Gulf of Mexico on April 20, 2010.

  • Commercial General Liability insurance, Umbrella Liability or adequate reserves providing coverage for liability of not less than [***], Combined Single Limit and Products and Completed operations Liability Insurance of [***] aggregate, Bodily Injury and Property Damages shall be secured as of the date of the first commercial shipment of the Product.

  • DHEPDS Class means the Deepwater Horizon Economic and Property Damages Settlement Class defined in the DHEPDS, preliminarily certified in May of 2012, and formally certified by the Court on December 21, 2012.

  • The commercial General Liability Insurance shall include coverage of (i) Premises and operations, (ii) Contractual liability as applicable to any indemnification and hold harmless agreements in the Lease, (iii) Products and Completed Operations, (iv) Broadform Property Damages, including completed operation, and (v) Independent contractors.

  • On October 20, 2015, the Company received notice from the Claims Administrator for the Deepwater Horizon Economic and Property Damages Settlement Program that the Company’s claim in the amount of $2,106,281 qualifies for payment under the terms of the Economic and Property Damages Settlement Agreement.

  • Notwithstanding anything to the contrary contained herein, the Purchaser Indemnified Parties shall not be entitled to indemnification from the Holder for Exclusive Property Damages with respect to any Person that, to the actual knowledge of Xxxx Xxxx Xxxxxx Quires, Xxxxxxxx Xxxxx, Xxxx Xxxxxxxxx or Xxxx Xxxxxx Xxxxxxxxx on the date hereof, had any contractual rights that would result in such Lost Profit Damages.

  • Lessee shall, at Lessee's expense, obtain and keep in force during the term of this Lease a policy of Combined Single Limit Bodily Injury and Property Damages Insurance insuring Lessee and Lessor against any liability arising out of the use, occupancy or maintenance of the Premises and all other areas appurtenant thereto.

  • DHEPDS means the Deepwater Horizon Economic and Property Damages Settlement Agreement as Amended on May 2, 2012.

  • Commercial General Liability including Products Completed Operations and Blanket Contractual “occurrence form” coverage with the following limits of liability: (i) $5,000,000 per occurrence combined single limit for Bodlly Injury and Property Damages; and (ii) minimum $5,000,000 limit of liability per occurrence for Products-Completed Operations, Product Liability and Contractual Liability to include liability assumed under this Agreement.


More Definitions of property damages

property damages means physical injury to or destruction of tangible property, including loss of use.
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property damages means any claim for damage to property or for economic loss caused by the condition of a road or infrastructure but does not include any damage or loss arising out of personal injury or death;ExampleProperty damages would include a windscreen cracked by a loose stone or damage to a tyre caused by a pothole but would not include damage to a vehicle caused by an unsecured temporary barrier.
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Related to property damages

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.

  • Severe property damage means substantial physical damage to property, damage to the treatment facilities which would cause them to become inoperable, or substantial and permanent loss of natural resources which can reasonably be expected to occur in the absence of a bypass. Severe property damage does not mean economic loss caused by delays in production.

  • Environmental Damages means all claims, judgments, damages, losses, penalties, fines, liabilities, encumbrances, liens, costs and expenses of investigation and defense of any claim, including, without limitation, attorney’s fees, that are incurred at any time as a result of the existence of Environmental Conditions upon, about or beneath the Project Site or migrating or threatening to migrate to or from the Site, and including, without limitation:

  • Delay Damages means the damages assessed pursuant to Section 3.2(a) hereof.

  • Direct Damage has the meaning given to it in clause 26.2;

  • Environmental Damage means any injury or damage to persons, living organisms or property (including offence to man’s senses) or any pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Economic damages means objectively verifiable monetary losses, including medical expenses, loss of earnings, burial costs, loss of use of property, cost of replacement or repair, cost of obtaining substitute domestic services, loss of employment, and loss of business or employment opportunities.

  • Materially Damaged means damage which, in Seller's reasonable estimation, exceeds $500,000.00 to repair or which, in Seller's reasonable estimation, will take longer than ninety (90) days to repair.

  • Damage to Property means physical injury to or destruction of tangible property, including the loss of its use. Tangible property includes the cost of recreating or replacing stocks, bonds, deeds, mortgages, bank deposits and similar instruments, but does not include the value represented by such instruments.

  • Bodily injury means bodily injury, sickness or disease sustained by a person, including death resulting from any of these at any time.

  • Punitive Damages are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.

  • Compensatory Damages are those amounts awarded to compensate for the actual damages sustained, and are not awarded as a penalty, nor fixed in amount by statute.

  • Special Damages shall have the meaning as set forth in Section 5.07.

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.

  • Seller Damages shall have the meaning given to such term in Section 14.3.

  • Serious bodily injury means bodily injury which involves a substantial risk of death, extreme physical pain, protracted obvious disfigurement or protracted loss or impairment of the function of a bodily member, organ or mental faculty.

  • Cover Damages means, with respect to any Delivery Shortfall, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 and the Cover Sheet, multiplied by the quantity of that Delivery Shortfall, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.

  • Personal Injury means injury, other than "bodily injury", arising out of one or more of the following offenses:

  • Accidental Bodily Injury means an Injury sustained as the result of an Accident and independently of all other causes by an outside traumatic event or due to exposure to the elements.

  • Accidental Damage means physical damage, breakage or failure of Your Covered Equipment due to an unforeseen and unintentional event occurring either due to handling (e.g., dropping the Covered Equipment or through liquid contact) or due to an external event (e.g., extreme environmental or atmospheric conditions). The damage must affect the functionality of Your Covered Equipment, which includes cracks to the display screen that affect the visibility of the display.

  • Daily Delay Damages means with respect to a Guaranteed Project Milestone, an amount equal to (a) the Project Development Security Amount posted as of the first date that Daily Delay Damages are payable under this Agreement with respect to such Guaranteed Project Milestone, divided by (b) 120.