Significant Portion definition

Significant Portion means, for purposes of the casualty provisions set forth in Article XI hereof, damage by fire or other casualty to the Real Property and the Improvements or a portion thereof, the cost of which to repair would exceed ten percent (10%) of the Purchase Price.

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Significant Portion means, when acquired in one transaction or in a related or integrated series of transactions within any consecutive twelve-month period, ten percent or more of:

Significant Portion means damage by fire or other casualty (or loss of value due to condemnation or eminent domain proceedings) to the Property or a portion thereof requiring repair costs (or resulting in a loss of value) in excess of an amount equal to five percent (5%) of the Purchase Price, as such repair costs or loss of value calculation may reasonably be estimated and substantiated by Seller in accordance with the terms of Section 9.2.

Examples of Significant Portion in a sentence

• If, prior to the Closing Date, all or a Significant Portion of the Property is destroyed or damaged by fire or other casualty, Seller will notify Purchaser of such casualty.

• If, prior to the Closing Date, all or a Significant Portion of the Real Property and Improvements is destroyed or damaged by fire or other casualty, Seller will notify Purchaser of such casualty.

• Purchaser will have the option to terminate this Agreement upon notice to Seller given not later than fifteen (15) days after receipt of Seller's notice if all or a Significant Portion of the Real Property and Improvements are damaged or destroyed or if that portion so damaged or destroyed is uninsured.

• The Lessor may also solicit bids for the cash purchase of all of Lessor's right, title and interest in and to the Undivided Interest or the Significant Portion thereof, as the case may be, on the Termination Date independent of the Lessee.

• Upon payment to the Lessor of the purchase price in immediately available funds (and all other amounts due pursuant to the next sentence) on the Termination Date, the Lessor shall sell to the highest bona fide bidder all right, title and interest of the Lessor in and to the Undivided Interest or such Significant Portion, as the case may be, as is and where is, free and clear of Lessor's Liens and Owner Participant's Liens but otherwise without representation, warranty or recourse.

More Definitions of Significant Portion

Significant Portion means, for purposes of the casualty provisions set forth in Article XI hereof, damage by fire or other casualty to the Real Property and the Improvements or a portion thereof, the cost of which to repair would equal or exceed $250,000.00.

Significant Portion means, for purposes of the casualty provisions set forth in Article XI hereof, damage by fire or other casualty to the Real Property and the Improvements relating to a particular Project or a portion thereof, the cost of which to repair would exceed Five Hundred Thousand Dollars ($500,000) in the aggregate.

Significant Portion with respect to a Property means any taking by condemnation or destruction or damage by fire or other casualty in excess of 25% of the gross leaseable area of a Property or that deprives the affected Property of any major access to public roads or allows an anchor tenant to terminate its Lease.

Significant Portion means, for purposes of the casualty provisions set forth in Article XI hereof, damage by fire or other casualty to the Real Property and the Improvements or a portion thereof, the cost of which to repair would exceed Five Hundred Thousand Dollars ($500,000.00) in the aggregate.

Significant Portion means damage by fire or other casualty to the Real Property and the Improvements or a portion thereof requiring repair costs in excess of $2,000,000.00 as such repair costs are reasonably estimated by Seller.

Significant Portion means 25% of the assets or liabilities of DFC. The term "significant number" means 20% of the outstanding shares of Common Stock.

Significant Portion. : means A school district must use at least forty percent (40%) or more of the gross square footage of a public school facility on a regular basis to be using a “significant portion.” is used by the school district for public educational, academic, extracurricular, or administrative purposes on a regular basis.