Substantial Casualty definition

Substantial Casualty shall have the meaning set forth in Section 3.04 hereof.

Substantial Casualty has the meaning assigned to such term in Section 7.07(b).

Substantial Casualty or "Substantial Taking" shall mean, a Casualty or Taking, as the case may be, where:

Examples of Substantial Casualty in a sentence

• If any Casualty occurs that is not a Substantial Casualty, then Tenant shall, except as otherwise provided in this paragraph, Restore with reasonable promptness.

• If the Casualty is a Substantial Casualty, then Tenant may, by Notice to Landlord given within six (6) months after the Casualty elect a Casualty Termination effective thirty (30) days after such Notice.

• If the Casualty is a Substantial Casualty, then either Landlord or Tenant may, by Notice to the other party hereto given within ninety (90) days after the Casualty, elect a Casualty Termination effective ninety (90) days after such Notice.

• If, however, the Casualty is a Substantial Casualty, then the Operator may, by Notice to the Authority, given within thirty (30) days after the occurrence of the Casualty, terminate this Agreement effective sixty (60) days after such Notice, provided that the Operator assigns to the Authority all of the Operator’s right, title and interest in and to any Property Insurance Proceeds (and rights thereto) arising from the Casualty.

• For purposes of this section, the "Purchase Price" shall be the greater of (a) the fair market value of the Leased Property on the date immediately preceding the date the Substantial Casualty occurred, or (b) the sum of the outstanding principal balance of any existing loans in favor of Landlord which are secured, in whole or in part, by the Leased Property and all accrued but unpaid interest thereon, as of the Purchase Date.

More Definitions of Substantial Casualty

Substantial Casualty means a Casualty that: (a) renders 10% or more of the Premises used for a general acute care hospital facility not capable of being used or occupied; (b) requires Restoration whose cost Tenant reasonably estimates in writing would exceed Two Million Dollars ($2,000,000); or (c) pursuant to Law, prevents the Premises from being Restored to the same bulk, and for the same use(s), as before the Casualty.

Substantial Casualty means a Casualty that (a) occurs less than five (5) years before the end of the Term and renders the Premises, in Lessee’s reasonable judgment (with Leasehold Mortgagee’s consent), not capable of being economically Restored, or (b) pursuant to Law, prevents the Premises from being Restored to substantially the same condition, and for the same use, as before the Casualty.

Substantial Casualty means a Casualty that: (a) renders 25% or more of the Premises used for a general acute care hospital facility not capable of being used or occupied; (b) occurs less than five (5) years before the end of the Term and renders 10% or more of the Premises used for a general acute care hospital facility not capable of being used or occupied; (cb) requires Restoration whose cost Tenant reasonably estimates in writing would exceed Two Million Dollars ($2,000,000); or (dc) pursuant to Law, prevents the Premises from being Restored to the same bulk, and for the same use(s), as before the Casualty.

Substantial Casualty means any Casualty that, in Tenant's reasonable judgment, renders a Property unsuitable for the then current use of such Property at the time of the Casualty.

Substantial Casualty means, with respect to the applicable Improvements as the context requires, any damage or destruction to all or any portion of the applicable portion of such Improvements which may, in the reasonable opinion of the Redeveloper’s Architect, equal or exceed $500,000 in the aggregate.

Substantial Casualty shall have the meaning specified in Section 12.2(a).

Substantial Casualty means a Casualty that: (a) renders 40% (forty percent) or more of the Garden not capable of being used or occupied for more than one hundred eighty (180) days; (b) requires Restoration whose cost the Authority reasonably estimates in writing would exceed Two Hundred Thousand Dollars ($200,000); or (c) pursuant to Law, prevents the Garden from being Restored to substantially the same bulk, and for the same use(s), as before the Casualty.