Constructive Total Loss. In the event of an accident, occurrence or event resulting in a constructive total loss of any Vessel, the Mortgagee may claim for a constructive total loss of such Vessel and require that Mortgagor declare such to be a constructive total loss, and if both (i) such claim is accepted by all underwriters under all policies then in force as to such Vessel under which payment is due for total loss and (ii) payment in full is made in cash under such policies, then, with the underwriters’ approval, the Mortgagee shall abandon such Vessel to the underwriters under such policies, free from the lien of this Mortgage.
Constructive Total Loss. (1) In the event a Satellite is a Constructive Total Loss after successful injection of the Satellite into its specified orbit by the Launch Vehicle, Contractor shall not be entitled to be paid Incentive Amounts pursuant to this Article 12 (In-Orbit Performance Incentive Payments) with respect to such Satellite.
Constructive Total Loss. The Charterers shall, at the Owners’ request, provide evidence satisfactory to the Owners (acting reasonably) as to the date on which the constructive total loss of the Vessel occurred pursuant to the definition of Total Loss.
Constructive Total Loss. In the case of an Event of Loss that is a constructive total loss of the Vessel, Mortgagee shall have the right (but only with prior written consent of Mortgagor unless an Indenture Event of Default has occurred and is continuing) to join in Mortgagor's claim for a constructive total loss of the Vessel, and if both (i) such claims are accepted by all underwriters under all policies then in force as to the Vessel and (ii) payment in full is made in cash under such policies to Mortgagee in an amount at least equal to the then outstanding amount of the Obligations, then Mortgagee shall have the right to abandon the Vessel to the underwriters under such policies, free from the Lien of this Mortgage.
Constructive Total Loss. 11. Tenant agrees to carry “All Risk” Insurance, equal to the agreed amounts as per schedule on file with underwriters of the onshore assets included in the Leased Property (the “Onshore Assets”), with a minimum Named Windstorm limit of 5,000,000 which shall be payable in case of loss as outlined herein. Coverage shall be All Risks of loss or damage from any cause not excluded in relation to the property and interests of every description used for or in connection with the ownership, maintenance and operation of the Onshore Assets, including, but not limited to:
Constructive Total Loss. In the event of Loss or Damage to Insured Property comprising any Building covered for Reinstatement where the cost or reinstating the Loss or Damage to that Building is 60% or more of its reinstatement value the the Building will be treated as having been destroyed where the following conditions exist :
Constructive Total Loss. 1. We reserve the sole and exclusive right to determine when and if the Insured Vessel is a Constructive Total Loss.
Constructive Total Loss. If Lessee has redelivered a Container to CAI, and Lessee has received a damage estimate in accordance with Subsection 7(a), Lessee may, within the Authorization Period, authorize repairs in accordance with the estimate, or request that CAI supply details of the DRV for such Container. Provided that Lessee is in compliance with its obligations under this Agreement at the time Lessee’s request for DRV information is received by CAI, CAI will provide the DRV for such Container. If the repair estimate for such Container exceeds the DRV for the Container (“Constructive Total Loss”), Lessee will have seven (7) calendar days from receipt of the DRV information to notify CAI that Lessee has chosen to treat the Container as a Constructive Total Loss. Upon receipt of Lessee’s written election of Constructive Total Loss, CAI will issue an invoice for the DRV of the Container. Provided that payment of the DRV is received by CAI within thirty (30) days of the date of invoice therefor, daily rental charges for the Constructive Total Loss Container will terminate on the date it was redelivered to CAI’s depot. If payment is not received as aforesaid daily rental charges on the Constructive Total Loss Container will continue to accrue until payment in full of Lessee Initials: 3 CAI Initials: the DRV is received by CAI. Unless otherwise elected by CAI, title to the Constructive Total Loss Container will remain with CAI.
Constructive Total Loss. No claim for constructive total loss shall be recoverable unless the Insured Property is reasonably abandoned either on account of their actual total loss appearing to be unavoidable or because the cost of recovering, reconditioning and forwarding them to the intended destination would exceed their value on arrival.
Constructive Total Loss. 16.1 In ascertaining whether the Vessel is a constructive total loss, the insured value shall be taken as the repaired value and nothing in respect of the damaged or break-up value of the Vessel or wreck shall be taken into account.
