Casualty Date definition

Casualty Date means the date fire or other casualty damages any portion of the Leased Property.
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Casualty Date shall have the meaning set forth in § 11.2.
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Casualty Date means the date of a Casualty Event.
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Examples of Casualty Date in a sentence

  • If such damage cannot, in Landlord’s opinion, be repaired within the Restoration Period, then Landlord may nonetheless elect, upon notice to Tenant within sixty (60) days after the Casualty Date, to repair such damage to the Non Premises Portions and/or the Structural Premises Portions, as applicable, and shall thereafter diligently pursue the completion thereof.

  • If either (i) the rebuilding or repair work is not substantially completed within such one hundred twenty (120) day period or (ii) Landlord has not commenced such rebuilding and repair work within sixty (60) days after the Casualty Date, then Tenant may terminate this Lease with written notice to Landlord within thirty (30) days after such 120-day period or 60-day period (as applicable).

  • Landlord acknowledges that Minimum Annual Rent is to be prepaid on a semi-annual basis, and as a result Tenant shall receive a credit against the next payment of Minimum Annual Rent due for the amount of Minimum Annual Rent prepaid hereunder from the Casualty Date through the shorter of the end of the period for which such rental was prepaid or the date that the reconstruction and repair of the Leased Premises is substantially completed.

  • The Committee expressed its support for the formulation of international, subregional and bilateral agreements between landlocked and transit developing countries with a view to improving interconnectivity between subregions and transit transport for landlocked countries.

  • Partial Damage In the event of Partial Damage, Licensor shall elect in a written notice to Licensee within sixty (60), days of the Casualty Date whether to restore the Premises, at Licensor’s expense, to their condition prior to the Casualty Date.

  • Those working in the special libraries sector are accustomed to hearing and reading that their efforts need to become more closely aligned to business goals and practice, and many do indeed take pride in their level of corporate involvement.

  • If either (i) the rebuilding or repair work is not substantially completed within such 120 day period or (ii) Landlord has not commenced such rebuilding and repair work within 60 days after the Casualty Date, then Tenant may terminate this Lease with written notice to Landlord within 30 days after such 120-day period or 60-day period (as applicable).

  • If the Lease is not terminated as provided under this paragraph and either (i) the rebuilding or repair work is not substantially completed before the expiration of the Casualty Repair Period, or (ii) Landlord has not commenced such rebuilding or repair work within 60 days after the Casualty Date, then Tenant may terminate this Lease with written notice to Landlord within 30 days following the expiration of the Casualty Repair Period or the above-described 60-day period (as applicable).

  • In the event of Partial Damage, Agency shall elect in a written notice to Lessee within 60 days of the Casualty Date whether to restore the Premises, at Agency’s expense, to their condition prior to the Casualty Date.

  • Calderon and Allegheny Casualty Date: 2016 - CurrentAmount: $2,407,032Reason: Grunley subcontracted the drywall work on the Watergate project to C.


More Definitions of Casualty Date

Casualty Date means the first Business Day after a casualty that Landlord is permitted by civil authority to re-access the Property, and is actually able to safely re-access the Property.
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Casualty Date has the meaning set forth in Section 10.1.1 (Casualty Date). “Casualty Event” has the meaning set forth in Section 10.1.2 (Casualty Event).
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Casualty Date shall have the meaning set forth in Section 17.01 attached hereto.
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Related to Casualty Date

  • Casualty Amount means five hundred thousand Dollars (USD500,000) (or the equivalent in any other currency);

  • Casualty Value means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.

  • Casualty Loss has the meaning set forth in Section 5.06.

  • Casualty shall have the meaning set forth in Section 6.2 hereof.

  • Insurance and Condemnation Event means the receipt by any Credit Party or any of its Subsidiaries of any cash insurance proceeds or condemnation award payable by reason of theft, loss, physical destruction or damage, taking or similar event with respect to any of their respective Property.

  • Casualty Event means any event that gives rise to the receipt by the Borrower or any Restricted Subsidiary of any insurance proceeds or condemnation awards in respect of any equipment, fixed assets or real property (including any improvements thereon) to replace or repair such equipment, fixed assets or real property.

  • Condemnation Event means any act of taking by a public or quasi-public authority through condemnation, reverse condemnation or eminent domain.

  • Replacement Date has the meaning set forth in Section 2.08(b).

  • Policy Date means the date on which the Search Report was prepared.

  • Extended Repayment Date shall have the meaning provided in Section 2.5(c).

  • Increased Facility Closing Date any Business Day designated as such in an Increased Facility Activation Notice.

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Lease Termination Date means the last day of the Lease Term.

  • Installation Date means the date specified in the Statement of Work by which the Contractor must have the ordered Equipment ready (certified) for use by the State.

  • Loan Commencement Date means, with respect to each Loan, the first Business Day of the calendar month following the Funding Date of such Loan.

  • Event of Loss means, with respect to any Property, any of the following: (a) any loss, destruction or damage of such Property; (b) any pending or threatened institution of any proceedings for the condemnation or seizure of such Property or for the exercise of any right of eminent domain; or (c) any actual condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, of such Property, or confiscation of such Property or the requisition of the use of such Property.

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • Insurance and Condemnation Proceeds shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Casualty Consultant shall have the meaning set forth in Section 6.4(b)(iii) hereof.

  • Casualty Retainage means an amount equal to ten percent (10%) of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until the Restoration has been completed. The Casualty Retainage shall in no event, and notwithstanding anything to the contrary set forth above in this Section 6.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Casualty Retainage shall not be released until the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Section 6.4(b) and that all approvals necessary for the re-occupancy and use of the Property have been obtained from all appropriate governmental and quasi-governmental authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Casualty Retainage; provided, however, that Lender will release the portion of the Casualty Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor, subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, the contractor, subcontractor or materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company issuing the Title Insurance Policy, and Lender receives an endorsement to the Title Insurance Policy insuring the continued priority of the lien of the Mortgage and evidence of payment of any premium payable for such endorsement. If required by Lender, the release of any such portion of the Casualty Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman.

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Casualty insurance means liability insurance.

  • Anticipated Repayment Date With respect to any ARD Mortgage Loan, the date specified in the related Mortgage Note, as of which Post-ARD Additional Interest shall begin to accrue on such Mortgage Loan, which date is prior to the Stated Maturity Date for such Mortgage Loan.

  • Lease Date means the later date upon which this Lease is signed by Landlord and Tenant.

  • Net Insurance/Condemnation Proceeds means an amount equal to: (a) any Cash payment or proceeds (including Cash Equivalents) received by the Borrower or any of its Restricted Subsidiaries (i) under any casualty insurance policy in respect of a covered loss thereunder of any assets of the Borrower or any of its Restricted Subsidiaries or (ii) as a result of the taking of any assets of the Borrower or any of its Restricted Subsidiaries by any Person pursuant to the power of eminent domain, condemnation, expropriation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, minus (b) (i) any actual out-of-pocket costs incurred by the Borrower or any of its Restricted Subsidiaries in connection with the adjustment, settlement or collection of any claims of the Borrower or the relevant Restricted Subsidiary in respect thereof, (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the Loans, Indebtedness outstanding with respect to the Second Lien Term Loans and any Indebtedness secured by a Lien on the Collateral that is pari passu with or expressly subordinated to the Lien on the Collateral securing any Secured Obligation) that is secured by a Lien on the assets in question and that is required to be repaid or otherwise comes due under the terms thereof as a result of such loss, taking or sale, (iii) in the case of a taking, the reasonable out-of-pocket costs of putting any affected property in a safe and secure position, (iv) any selling costs and out-of-pocket expenses (including reasonable broker’s fees or commissions, legal fees, transfer and similar Taxes and the Borrower’s good faith estimate of income or other Taxes paid or payable (including pursuant to Tax sharing arrangements or any Tax distribution)) in connection with any sale or taking of such assets as described in clause (a) of this definition, (v) any amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments associated with any sale or taking of such assets as referred to in clause (a) of this definition (provided that to the extent and at the time any such amounts are released from such reserve (other than in connection with a payment in respect of such liability), such amounts shall constitute Net Insurance/Condemnation Proceeds) and (vi) the pro rata portion of such Net Insurance/Condemnation Proceeds (calculated without regard to this clause vi) attributable to minority interests and not available for distribution to or for the account of the Borrower and the Restricted Subsidiaries as a result thereof.