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 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.

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.