DAMAGE, DESTRUCTION OR LOSS. 11.1 Upon delivery of the Equipment to Lessee until the Equipment is redelivered to Lessor, Lessee shall bear the entire risk of loss, damage, or destruction with respect to the Equipment resulting from any cause whatsoever.
11.2 If any Unit becomes damaged, partially damaged or damaged beyond repair, lost, stolen, destroyed or permanently rendered unfit, or in the event of any condemnation or requisition of title or use of any Unit by any governmental authority (any such occurrence being hereinafter referred to as an “Event of Loss”), then Lessee shall promptly notify Lessor and shall do either of the following within thirty (30) days after the occurrence of an Event of Loss:
(a) At its expense, promptly repair the affected Unit to its original capacity and condition or replace the affected Unit with a newer unit of identical make, model, configuration, capacity and condition, in good repair, free and clear of all Liens, in which case any such replacement unit shall become the property of Lessor and for all purposes of this Master Lease shall be deemed to be the Unit which it replaced; or
(b) Terminate the Schedule with respect to the affected Unit and pay to Lessor on the next payment date, an amount equal to (i) if specified in the Schedule, the Casualty Value set forth therein or (ii) if not specified in the Schedule, an amount equal to the sum as calculated in Section 10(d) as of the date of the Event of Loss.
DAMAGE, DESTRUCTION OR LOSS. (a) Upon delivery of the Equipment to Lessee until the Equipment is redelivered to Lessor, Lessee shall bear the entire risk of loss, damage, or destruction with respect to the Equipment resulting from any cause whatsoever.
(b) If any Equipment becomes damaged beyond repair, lost, stolen, destroyed or permanently rendered unfit, or in the event of any condemnation or taking by any governmental authority (any such occurrence being hereinafter referred to as an "Event of Loss"), then Lessee shall promptly notify Lessor and shall do either of the following within thirty (30) days after the occurrence of an Event of Loss:
(i) At its expense, promptly replace the affected Equipment with like or better replacement equipment of identical make, model, configuration, capacity and condition, in good repair, free and clear of all liens, in which case any such replacement equipment shall become the property of Lessor and for all purposes of this Master Lease shall be deemed to be the Equipment which it replaced; or (ii) Terminate the Lease Order with respect to the affected Equipment and pay to Lessor on the next payment date, an amount equal to the present value of the remaining rental payments discounted by five percent (5%), plus the fair market value in continued use of the Equipment.
DAMAGE, DESTRUCTION OR LOSS. Any damage, destruction or loss, whether or not covered by insurance, materially and adversely effecting the properties or business of CommonWealth;
DAMAGE, DESTRUCTION OR LOSS. A. From and after an installation date, Customer shall be responsible for and hereby assumes the entire risk of loss, damage or destruction with respect to any installed System resulting from any cause whatsoever, except that caused by DirecPC or its agents.
B. In the event any System is materially damaged, Customer shall promptly notify DirecPC. If such damaged System can be repaired by DirecPC under the terms of this Agreement, DirecPC shall effect such repairs.
C. If any such System is damaged beyond repair or is lost, stolen, destroyed, in the opinion of DirecPC rendered permanently unusable or not economically repairable (any such occurrence hereinafter referred to as an "Event of Loss"), then this Agreement shall continue in full force and effect without any abatement of payments hereunder, unless such event is caused by DirecPC or its agents. Customer shall immediately notify DirecPC of the same and, at Customers expense, promptly replace the affected System with a like unit, in good condition and otherwise acceptable to DirecPC, and having a fair market value equal to that of the replaced System prior to its being so affected, free and clear of any liens or at the discretion of the Customer, Customer may elect to continue to make payments on the System until the end of the term without replacement. Any such replacement System shall be the property of DirecPC and for the purposes of this Agreement be deemed to be the System which it replaced and thereupon shall be subject to the terms of this Agreement.
D. Any insurance proceeds received as a result of any damage to the System or an Event of Loss shall be applied first in respect of any then unpaid obligations of Customer hereunder, and second, provided Customer is not then in default under this Agreement, to reimburse Customer for any payment made with respect to the provisions of subparagraphs (B) and (C) of this Article.
DAMAGE, DESTRUCTION OR LOSS. There shall have been no damage, destruction or loss (whether or not covered by insurance), and no other event or condition not existing on the date of the termination of the Feasibility Period shall have occurred or shall exist, as the case may be, which materially and adversely affects the zoning, entitlements or development rights attendant to the Property or the construction thereon of improvements to the full extent as permitted under current zoning.
DAMAGE, DESTRUCTION OR LOSS. (a) From the date the Supplier(s) ships the Equipment to Lessee and until the Equipment is redelivered to Lessor, Lessee shall bear the entire risk of loss, damage, or destruction with respect to the Equipment resulting from any cause whatsoever.
(b) If any Equipment becomes damaged beyond repair, lost, stolen, destroyed or permanently rendered unfit, or in the event of any condemnation or taking by any governmental authority (any such occurrence being hereinafter referred to as an “Event of Loss”), then Lessee shall promptly notify Lessor, and Lessor shall, at its sole option and in its sole discretion, do either of the following:
(i) At Lessee’s expense, permit Lessee, provided there exists no other Event of Default at such time, to promptly replace the affected Equipment with like or better replacement equipment of identical make, model, configuration, capacity and condition, in good repair, free and clear of all liens, in which case any such replacement equipment shall become the property of Lessor and for all purposes of this Lease Agreement shall be deemed to be the Equipment which at replaced (in which event, Lessee shall certify to Lessor that such replaced Equipment shall no longer be in use and shall never again be placed in use); or
(ii) Terminate the Schedule with respect to the affected Equipment and directed Lessee to pay to Lessor on the next payment date, all past due rents and all obligations due under the Lease with respect to the affected Equipment, including taxes, indemnities and attorney’s fees, plus an amount equal to the sum of (A) the present value of the remaining rental payments discounted by five percent (5%), plus (B) the fair market value in continued use of the Equipment as of the date of such Event of Loss (which fair market value the parties hereby agree shall not be less than 25% of the “Capitalized Lessor’s Cost” (as indicated in the applicable Schedule) for the Equipment) (such amount shall be the “Stipulated Loss Value”).
DAMAGE, DESTRUCTION OR LOSS. (a) From the date the Supplier(s) ships the Equipment to Customer and until the Equipment is redelivered to SWBT, Customer shall bear the entire risk of loss, damage, or destruction with respect to the Equipment resulting from any cause whatsoever.
(b) If any Equipment becomes damaged beyond repair, lost, stolen, destroyed or permanently rendered unfit, or in the event of any condemnation or taking by any governmental authority (any such occurrence being hereinafter referred to as an "Event of Loss"), then Customer shall promptly notify SWBT and shall do either of the following within thirty (30) days after the occurrence of an Event of Loss:
(i) At its expense, promptly replace the affected Equipment with like or better equipment of identical make, model, configuration, capacity and condition, in good repair, free and clear of all liens, in which case any such rep1acement equipment shall become the property of SWBT and for all purposes of this Lease Agreement shall be deemed to be the Equipment which it replaced; or (ii) Terminate the Schedule with respect to the affected Equipment and pay to SWBT on the next payment date, all past: due rents and all obligations due under the Lease with respect to the affected Equipment, including taxes, indemnities and attorney's fees, plus an amount equal to the present value of the remaining rental payments discounted by five percent (5%), plus the fair market value in continued use of the Equipment (such amount shall be the "Stipulated Loss Value").
DAMAGE, DESTRUCTION OR LOSS. In Subsection (b)(i), delete the words, "At its expense," and at the end of the sentence, add the following: "PROVIDED HOWEVER, that SWBT shall be required to promptly contribute the entire amount of any insurance proceeds received or receivable by it in respect of the affected Equipment to the cost of replacement, in such manner that Customer shall not be required to advance or otherwise fund such amount". In Subsection (b)(ii), after the words "plus the fair market value in continued use of the Equipment" add ", less the amount of any insurance proceeds received or receivable by SWBT in respect of the affected Equipment" and at the end of Subsection (b)(ii), add the following, "If the Stipulated Loss Value is negative, then SWBT will promptly refund to the Customer an amount equal to the amount that the Stipulated Loss Value is less than zero."
DAMAGE, DESTRUCTION OR LOSS. 12.6.1 StorageTek shall bear the entire risk of loss, theft, damage or destruction with respect to the Secondary Storage Equipment from any cause other than EDS's (which, for purposes of this Section 12.6.1 shall include all persons other than StorageTek or its designees) negligence or willful misconduct, from the date of delivery of the Secondary Storage Equipment to the Data Centers until the Secondary Storage Equipment is removed from the Data Centers. In the event EDS's negligence or willful misconduct results in any loss, theft, damage or destruction to the Secondary Storage Equipment, StorageTek shall be relieved of its Services obligations to the extent any such loss, theft, damage or destruction to the Secondary Storage Equipment impacts StorageTek's ability to provide such Services until such time as EDS replaces or repairs the Secondary Storage Equipment.
12.6.2 In the event any Secondary Storage Equipment is materially damaged, EDS shall promptly notify StorageTek. If such damage is caused by EDS's negligence or willful misconduct, and such damaged Secondary Storage Equipment is economically repairable, EDS, at its expense, shall promptly repair (or reimburse StorageTek for the cost to repair) the Secondary Storage Equipment.
12.6.3 If, as a result of EDS's negligence or willful misconduct, any Secondary Storage Equipment is damaged beyond repair or stolen, destroyed or, in the opinion of EDS, not economically repairable EDS shall promptly notify StorageTek and EDS shall, at its expense, promptly replace the affected Secondary Storage Equipment with equipment of the same manufacturer, model, configuration and condition, free and clear of any liens. Upon replacement of any Secondary Storage Equipment, the replacement unit shall be the property of StorageTek and, for purposes of this Section 12, shall be deemed to be the Secondary Storage Equipment, which it replaced and thereupon shall be subject to the terms of this Agreement.
DAMAGE, DESTRUCTION OR LOSS. (a) If any non-material damage, destruction or loss is known to have occurred after the SPA Effective Time and prior to the Effective Time with respect to any assets of any Hospital Group, at the Effective Time, LifePoint shall pay or assign to Purchaser (i) all insurance proceeds previously paid to LifePoint or its Affiliates arising out of such damage, destruction or loss that have not been used to repair or replace the damaged, destroyed or lost assets, (ii) all future insurance proceeds to which LifePoint or its Affiliates is entitled arising out of such damage, destruction or loss (except to the extent LifePoint has not been reimbursed through insurance proceeds for its payment of the cost of repairing or replacing the damaged, destroyed or lost assets), and (iii) to the extent that such insurance proceeds are limited by a deductible under such policies, payment of an amount equal to such deductible minus $100,000 (but if such amount is a negative number, Purchaser will not be required to reimburse LifePoint for such amount or share any of the insurance proceeds described in clauses (i) and (ii), above).
(b) If a material damage, destruction or loss is known to have occurred prior to the Effective Time with respect to any assets of any Hospital Group, at the Effective Time, LifePoint shall (i) pay or assign to Purchaser the insurance proceeds described in clauses (a)(i) and (ii), above, and (ii) indemnify Purchaser (with first dollar indemnification) for any other Damages that Purchaser suffers as a result of such damage, destruction or loss.
(c) LifePoint shall cause any such proceeds pursuant to such insurance policies in respect of such damage, destruction or loss to be paid to Purchaser.
