Common use of Definition of Material Damage Clause in Contracts

Definition of Material Damage. For purposes of this Section 15, damage to the Property shall be deemed to involve a material portion thereof if the estimated cost of restoration or repair of such damage reasonably estimated by Seller shall exceed the greater of (i) One Million Dollars ($1,000,000) or (ii) ten percent (10%) of the Purchase Price.

Definition of Material Damage. For the purposes of this Section 159.2, damage to the Property shall be deemed to involve a is material portion thereof if the estimated actual cost of restoration repairing or repair of such damage reasonably estimated by Seller shall exceed replacing the greater of (i) One Million Dollars ($1,000,000) or (ii) ten percent (10%) damaged portions of the Purchase PriceImprovements on the Property exceeds $100,000 for an uninsured casualty or $200,000 for an insured casualty.

Definition of Material Damage. For purposes of this Section 1516, damage to the Property shall be deemed to involve a material portion thereof if the estimated cost of restoration or repair of such damage reasonably estimated by Seller shall exceed the greater of (i) One Million Dollars (be $1,000,000) or (ii) ten percent (10%) of the Purchase Price5,600,000.

Definition of Material Damage. For the purposes of this Section 159.2, damage to the Property shall be deemed to involve a is material portion thereof if the estimated actual cost of restoration repairing or repair of such damage reasonably estimated by Seller shall exceed replacing the greater of (i) One Million Dollars ($1,000,000) or (ii) ten percent (10%) damaged portions of the Purchase PriceImprovements on the Property exceeds $100,000, or if it would take more than forty-five (45) days to perform such repair or replacement using reasonably diligent efforts.