Severable Modifications definition

Severable Modifications means any Modifications that are not Required Modifications and are removable from the Facility without causing material damage thereto.
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Severable Modifications means modifications (a) that are not Required Modifications and (b) that can be removed from the applicable Property without (i) causing damage to such Property that cannot be readily repaired or (ii) materially impairing the marketability, value, ▇▇▇ Research Corporation Definitions utility or useful life of such Property from that set forth in the Appraisal thereof delivered in connection with the Acquisition Date therefor.
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Examples of Severable Modifications in a sentence

  • If Lessee shall at its cost cause such Severable Modifications (other than Required Modifications) to be made to any Unit, Lessor shall have the right, upon 90 days prior written notice in the case of the return of such Unit pursuant to Section 6.1, to purchase any such Severable Modifications (other than Severable Modifications consisting of proprietary or communications equipment) title to which is held by Lessee at their then Fair Market Sales Value (taking into account their actual condition).

  • If Lessor does not elect to purchase such Severable Modifications, Lessee may remove, and shall remove if requested by Lessor, such Severable Modifications at Lessee’s cost and expense.

  • If Lessee shall at its cost cause such Severable Modifications to be made to any Unit and such Severable Modifications are reasonably necessary for the economic operation of any such Unit, Lessor shall have the right, prior to the return of such Unit to Lessor hereunder, to purchase such Severable Modifications (other than Severable Modifications consisting of proprietary or communications equipment) at their then Fair Market Sales Value (taking into account their actual condition).

  • On or prior to the 90th day prior to the expiration of the Charter Period, Charterer shall provide Owner with notice of such Severable Modifications that it intends to remove.

  • Owner may exercise its option to purchase such Severable Modifications by written notice to such effect delivered to Charterer at least 30 days prior to expiration of the Charter Period.

  • If the Borrower shall at its cost cause any Severable Modifications to be made to any Railcar, the Borrower may, at any time, remove such Severable Modifications at its cost and expense and the Borrower shall, at its expense, repair any damage resulting from the removal of any such Severable Modifications in a manner consistent with §8.19.4.

  • The Lessor may exercise its option to purchase such Severable Modifications by written notice to such effect delivered to the Lessee at least 30 days prior to expiration of the Lease Term.

  • On or prior to the 180th day prior to the expiration of the Lease Term, the Lessee shall provide the Lessor with a list of the Severable Modifications it intends to remove.

  • Optional Modifications which are Severable Modifications and which are not financed by the Owner Lessor by an Additional Equity Investment or a Supplemental Financing pursuant to Section 11.1 of the Participation Agreement are referred to herein as "Removable Modifications").

  • Any Optional Modifications that are Severable Modifications shall not become subject to the Lien of this Indenture.