Nonseverable means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed.
Nonseverable shall describe an Alteration or part of an Alteration which cannot be removed from the Property or the existing Improvements without causing material damage to the Property or Improvements; provided that Lessee’s Equipment and Personalty shall not be deemed to be Nonseverable regardless of any damage that may be caused by the removal thereof.
Nonseverable means a Modification or part of a Modification which cannot be readily removed from the Leased Property without causing material damage to or materially impairing the Fair Market Value, utility, useful life or residual value thereof as set forth in the Appraisal delivered on or prior to the Document Closing Date.
Examples of Nonseverable in a sentence
Provisions of Plan and Order are Nonseverable and Mutually Dependent.
The Monongahela also includes all future Nonseverable Improvements.
Title to each Nonseverable Modification and each Mandatory Alteration shall, upon installation or affixation to the Facility, vest in the Lessor and thereupon such Nonseverable Modification or Mandatory Alteration, as the case may be, shall become a part of the Facility for all purposes hereof and become subject to this Lease.
Title to each Nonseverable Improvement shall, without further act, vest in the Owner Trustee.
The parties agree that the Well Improvements are Nonseverable Modifications.
More Definitions of Nonseverable
Nonseverable means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed. Precious metals means silver, gold, platinum, palladium, iridium, osmium, rhodium, and ruthenium.
Nonseverable shall describe (i) with respect to any Alteration, an Alteration which is a "nonseverable improvement" within the meaning of Revenue Procedure 79-48 and (ii) with respect to any part not constituting an Alteration or part of an Alteration, a part which cannot be readily removed from the equipment without causing material damage to the Facility.
Nonseverable shall describe a Modification or part of a Modification which cannot be readily removed from the Leased Property without causing material damage to or materially impairing the value of the Leased Property.
Nonseverable means a Modification or part of a Modification which cannot be readily removed from any Site Improvements or any Unit without causing material damage to or materially impairing the Fair Market Value, utility, useful life or residual value thereof as set forth in the Appraisal for such Site Improvements or Unit delivered on or prior to the initial Advance Date for such Facility or Equipment Group, as reduced for any Liquidated Damages paid by any manufacturer under any Equipment Contract as compensation for diminution in Fair Market Value of the Equipment.
Nonseverable means a Modification or part of a Modification which cannot be readily removed from the Leased Property without causing material damage to or materially impairing the Fair Market Value, utility, useful life or residual value thereof as set forth in the Appraisal delivered on or prior to the Restatement Date.
Nonseverable means, with respect to any Alteration, any Alteration that is not a Severable Alteration.
Nonseverable means property that cannot be removed after construction or installation without substantial loss of value or damage to the installed property or to the premises where installed. "Precious metals" means silver, gold, platinum, palladium, iridium, osmium, rhodium, and ruthenium.