Severable Improvement definition
Severable Improvement means property affixed to the Land at Date of Policy or to be affixed in the locations according to the Plans, that would constitute an Electricity Facility but for its characterization as personal property, and that by law does not constitute real property because (a) of its character and manner of attachment to the Land and (b) the property can be severed from the Land without causing material damage to the property or to the Land.
Severable Improvement means any Improvement that is readily removable without causing material damage to the Facility.
Severable Improvement means a capital improvement which is not a Nonseverable Improvement.
Examples of Severable Improvement in a sentence
Lessee shall be responsible for the cost of repairing any damage to the Project Interest or the Project Location resulting from the removal of any Severable Improvement.
If the Lessor does not elect to purchase a Severable Improvement, the Lessee may remove, and shall remove if requested by the Lessor, such Severable Improvement from the applicable Project Interest on or prior to the expiration of the applicable Term at the Lessee’s cost and expense.
More Definitions of Severable Improvement
Severable Improvement means any Improvement that is removable without, other than in an immaterial respect, causing irreparable damage to the Facility.
Severable Improvement means property affixed to the Land on or after Date of Policy that by law does not constitute real property because:
Severable Improvement means property affixed to the Land at Date of Policy or to be affixed in the locations according to the Plans, that would constitute an Electricity Facility but for its characterization as personal property, and that by law does not constitute real property because
Severable Improvement means an Improvement to the technology disclosed in the Licensed Patents that can be Exploited without infringing a Valid Claim of the Licensed Patents.
Severable Improvement means an improvement that can be exploited without infringing the licensed technology.
Severable Improvement means a capital improvement that is not a Nonseverable Improvement, and specifically includes but is not limited to, track extensions to customer facilities. (bb) "STB" means the Surface Transportation Board, or if there shall be no Surface Transportation Board, any federal agency which is charged with the function of approving combinations by rail carriers or persons controlling them, or of other arrangements between such rail carriers, and granting exemptions from other laws with respect thereto or regulating other specific functions with respect to the context in which such term is employed or any successor entity thereof. (cc) "Tax" or "Taxes" means taxes, levies or other similar assessments, customs, duties, imposts, charges or fees, including, without limitation, ad valorem, excise, real or personal property, sales, use, payroll, withholding, unemployment, transfer and gains taxes or other governmental taxes imposed by or payable to the United States, or any state, local or foreign government or subdivision thereof, and in each instance such term shall include any interest, penalties or additions to tax attributable to such Tax or Taxes. (dd) "Total Monongahela Train Usage Percentage" means for either NSR or CSXT, for a particular time period, the percentage obtained by multiplying 100 by the quotient obtained by dividing (1) the total number of loaded and empty Railcars in the account of NSR or CSXT, as the case may be, that are in Monongahela Trains by (2) the sum of the total number of loaded and
Severable Improvement means any Improvement which is not a Nonseverable Improvement, but excluding any Replacement Parts.