Casualty Termination definition

Casualty Termination as of any date means any Lease that has been terminated prior to its Maturity Date if the related Leased Vehicle has been lost, stolen or damaged beyond economic repair.
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Casualty Termination means a termination of this Lease because of a Substantial Casualty, when and as this Lease expressly allows such a termination.
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Casualty Termination means a termination of this Agreement because of a Substantial Casualty, when and as this Agreement expressly allows such a termination pursuant to Section 14.2.
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Examples of Casualty Termination in a sentence

  • Upon any Casualty Termination, Tenant shall assign and transfer to Landlord all of Tenant’s rights to Property Insurance Proceeds Tenant received, or is entitled to receive, because of the Casualty.

  • 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, however, pursuant to Law, the Premises cannot be Restored to the same bulk, and for the same use(s), as before the Casualty, then upon any resulting Casualty Termination, Tenant shall be entitled to receive and retain (as a first priority claim to the Property Insurance Proceeds) a portion of the Property Insurance Proceeds equal to the Market Value of the Leasehold Estate.


More Definitions of Casualty Termination

Casualty Termination means a termination of this Lease because of a Substantial Casualty, when and as this Lease expressly allows such a termination. Tenant’s election of a Casualty Termination shall not be effective without Leasehold Mortgagee’s consent.
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Casualty Termination means, with respect to all or any portion of the Leased Premises or all or any part of a Parcel, a termination of this Lease because of a Substantial Casualty, when and as this Lease expressly allows such a termination.
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Casualty Termination means termination pursuant to Section 23.2.
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Casualty Termination. Notice is defined in ___________________________ Section 11.7.
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Related to Casualty Termination

  • Disability Termination means the termination of a Participant’s employment under the disability provisions of the Participant’s Employment Agreement or, if the Participant is not a party to an Employment Agreement, then as a result of a “Disability” as defined in the Plan.

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Company Termination Event means any of the following:

  • Termination Upon a Change in Control means a termination by the Executive of the Executive's employment with the Corporation within 120 days following a "Change in Control."

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