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;
property damages. The Contractor shall be held responsible for damages that occur during the hours pertaining to performance of this contract to the interior of the facilities or contents thereof. The Contractor, at his/her expense, shall pay to repair the damage and/or replace the item(s) damaged.
property damages means physical injury to or destruction of tangible property, including loss of use.
More Definitions of property damages
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.
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 ▇▇▇▇▇ ▇▇▇▇▇▇▇ & 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).