Value Impact definition

Value Impact means the actual cash impact or the cash impact that would reasonably be expected as a result of the applicable Casualty Loss in order to repair or replace the assets affected, excluding the extent to which such repair or replacement is to be completed at Seller's expense, but including for purposes of such calculation the losses and expenses associated with the duration and timing of downtime of or reduction in operating capacity of such assets until such repair or replacement is completed, increase in operating and/or maintenance costs and loss of revenues, in each case with respect to measurements of the costs of downtime and the resulting lost revenue of the LIG Companies' existing requirements at the time of such event. The calculation of the Value Impact shall take into consideration any insurance recovered with respect to such event and any other amounts recovered from third parties in connection with such Casualty Loss.
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Examples of Value Impact in a sentence

  • Each of Seller and Buyer shall notify the other in writing of any matter which such party reasonably believes constitutes an Aggregate Problem or a value Impact within five (5) days of such party's determination that the Aggregate Problem or a Value Impact exists (each, a "Problem Notice").

  • Each Problem Notice shall specify in reasonable detail the nature of the matter and the Seller's or Buyer's (as applicable) determination of the cost to remedy the Aggregate Problems plus the Value Impact, if any.

  • If the Buyer and Sellers cannot agree on the Value Impact of the Casualty Loss within ten (10) Business Days (or such other period as the Buyer and Sellers agree) of Buyer receiving notice of the Casualty Loss, then the Neutral Auditor (which shall be required to employ appraisers knowledgeable on the subject matter of the Casualty Loss to assist in determining the Value Impact) shall determine the Value Impact within fifteen (15) Business Days of receiving such notice.

  • If Buyer and Seller disagree on whether the cost to remedy all Aggregate Problems plus the Value Impact specified in Problem Notices equals or exceeds $500,000, then Buyer and Seller shall use best efforts to select an independent arbitrator to resolve the dispute.

  • If the parties cannot agree on such Title Value Impact or Fair Market Value of any Site, then for Closing purposes only, the Parties agree to establish a tentative Title Value Impact and Fair Market Value.

  • There shall have been no Casualty Losses affecting any LIG Company with a Value Impact that Seller is unable or unwilling to cure prior to the Closing Date in excess of $25,000,000.

  • Such negative effect on such business operations and/or lien is herein referred to as the “Title Value Impact.” Purchaser’s Notice shall include reasonably detailed information and supporting documents concerning the basis of the Title Value Impact.

  • Following notice of the Casualty Loss, in the event Seller notifies Buyer in writing that it will not undertake the repair of the Casualty Loss (such notice to be provided within ten (10) Business Days of the event) or upon written notice from Buyer or Seller if Seller does not adequately cure any Casualty Loss that it elected to cure, the parties will promptly meet and attempt to agree upon the Value Impact reasonably expected.

  • If the appraiser determines different Title Value Impact and Fair Market Value of each Site than what the Parties had tentatively established for the Title Value Impact and Fair Market Value, the appropriate party shall promptly pay the other party the corresponding adjustment amount.