Event of Total Loss means the occurrence of a Casualty Event affecting all or substantially all of the Project or the assets of the Borrower.
Event of Total Loss means, in relation to any Project, any of the following: (a) the complete destruction of such Project, (b) the destruction of such Project such that there remains no substantial remnant thereof which a prudent owner, uninsured, desiring to restore such Project to its original condition would utilize as the basis of such restoration, (c) the destruction of such affected Property irretrievably beyond repair or (d) the destruction of such Project such that the insured may claim the whole amount of any insurance policy covering such Project upon abandoning such Project to the insurance underwriters therefor.
Event of Total Loss means: (a) all or substantially all of the Facility shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the Facility that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the Facility; or (c) all or substantially all of or a material portion of the Facility shall be taken by exercise of a power of eminent domain or similar right or power, or a Governmental Authority shall order that the Facility shall cease to operate permanently.
Examples of Event of Total Loss in a sentence
Group B Equipment Each Unit, including the Components, identified by Clause 2 of Schedule 1; provided that if any of the Units is excluded from this Agreement due to the occurrence of the Event of Total Loss and the exercise of the purchase option, the remaining Units shall consist of the Group B Equipment.
Event of Total Loss In respect of the Equipment, the Units or the Components consisting thereof, the occurrence of : (a) loss or disappearance; (b) damage or trouble which the Lessee reasonably determines, and an appraiser appointed by the Lessor confirms, to be beyond economic repair or reuse; or (c) the confiscation, condemnation or theft.
Group A Equipment Each Unit, including the Components, identified by Clause 1 of Schedule 1; provided that if any of the Units is excluded from this Agreement due to the occurrence of the Event of Total Loss and the exercise of the purchase option, the remaining Units shall consist of the Group A Equipment.
More Definitions of Event of Total Loss
Event of Total Loss means: (a) all or substantially all of the Unit 1 Facility shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the Unit 1 Facility that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the Unit 1 Facility; or (c) all or substantially all of or a material portion of the Unit 1 Facility has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority or a Governmental Authority shall order that the Unit 1 Facility cease to operate permanently.
Event of Total Loss means, with respect to the New Common Facilities (or any Component): (a) all or substantially all of the New Common Facilities (or any Component), shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the New Common Facilities (or any Component) that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the New Common Facilities (or any Component); or (c) all or substantially all of or a material portion of the New Common Facilities (or any Component) has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority, or a Governmental Authority shall order the New Common Facilities (or any Component) to cease to operate permanently.
Event of Total Loss means the occurrence of a Casualty Event affecting all or substantially all of any Plant with respect to which any Funding has been made or is being requested, the Project or the assets of Pacific Holding or any Borrower that is the owner of a Plant with respect to which any Funding has been made or is being requested.
Event of Total Loss means: (a) all or substantially all of the Leased Facility or Unit 1, as the case may be, shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the Leased Facility or Unit 1, as the case may be, that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the Leased Facility or Unit 1, as the case may be; or (c) all or substantially all of or a material portion of the Leased Facility or Unit 1, as the case may be, has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority or a Governmental Authority shall order that the Leased Facility or Unit 1, as the case may be, shall cease to operate permanently.
Event of Total Loss means: (a) all or substantially all of Elm Road Unit 2 shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to Elm Road Unit 2 that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of Elm Road Unit 2; or (c) all or substantially all of or a material portion of Elm Road Unit 2 has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority or a Governmental Authority shall order Xxx Xxxx Xxxx 0 to cease to operate permanently.
Event of Total Loss under the Unit 1 Ownership Agreement and/or the Unit 2 Ownership Agreement and that all or a portion of any Loss Proceeds received by the New Common Facilities Owners pursuant to this Agreement may also constitute “Loss Proceeds” subject to the Xxxx 0 Ownership Agreement and/or the Unit 2 Ownership Agreement. The Parties further acknowledge and agree that if and to the extent that there is any conflict between the insurance provisions (including any provisions with respect to the receipt, payment, control and use of Loss Proceeds) in this Agreement and in the Unit 1 Ownership Agreement and/or the Unit 2 Ownership Agreement, that all such insurance provisions shall be interpreted and construed, if possible, so as to avoid or minimize any such conflict.
Event of Total Loss has the meaning given to that term in the Platform Use Agreement.