Substantial Project Impairment definition

Substantial Project Impairment means a decrease of twenty percent (20%) or more in the Company’s actual EBITDA during any period as compared to the Company’s projected EBITDA for the twelve (12) month period following the occurrence of a Trigger Event or deadlock pursuant to Section 10.1 (Deadlock). The Company’s projected EBITDA shall be calculated based on the Approved Operating Plan applicable as of the date that the Trigger Event or deadlock occurred and, to the extent the twelve (12) month period following the occurrence of the Trigger Event or deadlock extends into the next Fiscal Year, based on the Approved Strategic Business Plan applicable as of the date that the Trigger Event or deadlock occurred.
Substantial Project Impairment means a decrease of twenty percent (20%) or more in the Company’s actual EBITDA during any period as compared to the Company’s projected EBITDA for the twelve (12) month period following the occurrence of a Trigger Event or deadlock pursuant to Section 10.1 (Deadlock). The Company’s projected EBITDA shall be calculated based on the Approved Operating Plan applicable as of the date that the Trigger Event or deadlock occurred and, to the extent the twelve (12) month period following the occurrence of the Trigger Event or deadlock extends into the next Fiscal Year, based on the Strategic Business Plan applicable as of the date that the Trigger Event or deadlock occurred.

Examples of Substantial Project Impairment in a sentence

  • Such request shall be in writing and shall be accompanied by the requesting Shareholder’s statement of the matter and its position with respect thereto, including the reason for its belief that the inability to convene or failure to make a determination on the matter has caused or will cause a Substantial Project Impairment.

Related to Substantial Project Impairment

  • Substantial improvement means any combination of repairs, reconstruction, rehabilitation, addition, or other improvement of a structure, taking place during any one-year period for which the cost equals or exceeds 50 percent of the market value of the structure before the “start of construction” of the improvement. This term includes structures which have incurred “substantial damage”, regardless of the actual repair work performed. The term does not, however, include either:

  • Substantial or essential component means any component necessary for the proper function or performance of a piece of equipment, system, or service.

  • Processes with Significant Environmental Aspects means the Equipment which, during regular operation or if not properly operated or maintained, may cause or are likely to cause an adverse effect.

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • Needs Improvement the Educator’s performance on a standard or overall is below the requirements of a standard or overall, but is not considered to be unsatisfactory at this time. Improvement is necessary and expected.  Unsatisfactory: the Educator’s performance on a standard or overall has not significantly improved following a rating of needs improvement, or the Educator’s performance is consistently below the requirements of a standard or overall and is considered inadequate, or both.

  • Substantial development means any development of which the total cost or fair market value exceeds two thousand five hundred dollars, or any development which materially interferes with the normal public use of the water or shorelines of the state; except that the following shall not be considered substantial developments for the purpose of this chapter:

  • Project Improvements means site improvements and facilities that are:

  • Substantial Performance means the stage of completion when:(a) all Work, as certified by the Contract Administrator, is capable of completion or correction at a cost of not more than:

  • Material Project means the construction or expansion of any capital project of the Borrower or any of its Subsidiaries, the aggregate capital cost of which exceeds $50,000,000.

  • Substantial Completion Date means the date on which Substantial Completion occurs.

  • Substantial Block means a number of shares of the Voting Stock which has 15% or more of the aggregate voting power of all outstanding shares of Voting Stock.

  • Substantial rehabilitation means, with respect to the SAIL Program, to bring a Development back to its original state with added improvements, where the value of such repairs or improvements (excluding the costs of acquiring or moving a structure) exceeds 40 percent of the appraised as is value (excluding land) of such Development before repair and less than 50 percent of the proposed construction work consists of new construction. For purposes of this definition, the value of the repairs or improvements means the Development Cost. To be considered “Substantial Rehabilitation,” there must be at least the foundations remaining from the previous structures, suitable to support the proposed construction.

  • Substantial disruption means without limitation that any one or more of the following occur as a result of the bullying:

  • Substantial damage means damage of any origin sustained by a structure whereby the cost of restoring the structure to its before damaged condition would equal or exceed 50 percent of the market value of the structure before the damage occurred.

  • Substantial alteration means an alteration that has a major impact on the architectural features, characteristics, appearance, or integrity of a structure or lot. The term does not include routine maintenance that is reasonably necessary to maintain a dealership facility in attractive condition and does not include any changes to items protected by federal intellectual property rights.

  • Substantial action means adopting, publicizing, and implementing a formal plan to cease scrutinized business operations within 1 year and to refrain from any new business operations.

  • Continuous Improvement Plan means a plan for improving the provision of the Goods and/or Services and/or reducing the Charges produced by the Supplier pursuant to Framework Schedule 12 (Continuous Improvement and Benchmarking);

  • Ongoing Project means a multi-year project undertaken by a Company in fulfilment of its CSR obligation having timelines not exceeding three years excluding the financial year in which it was commenced, and shall include such project that was initially not approved as a multi-year project but whose duration has been extended beyond one year by the board based on reasonable justification;

  • Substantial modification means modification of a relevant source that results in a significant increase in emissions, excluding any change in emissions resulting from by-product recovery. It shall be a matter for the Party to decide whether a modification is substantial or not;

  • Substantial Completion Certificate means the certificate issued and approved by the Authority indicating the date upon which the Trade Contractor Work (or a designated portion thereof) is Substantially Complete.

  • Permanent Work means the permanent works including equipment to be supplied, executed, erected and maintained in accordance with the Contract.

  • Project Work means the work required to complete the Project.

  • Home improvement means the remodeling, altering,

  • Certificate of Substantial Performance means a certificate issued by the NCC when the Work reaches Substantial Performance;

  • Material and substantial disruption of a normal school activity means: