Casualty definition

Casualty shall have the meaning set forth in Section 6.2 hereof.

Casualty means the occurrence of any casualty, damage or injury, by fire or otherwise, to the Property or any part thereof.

Casualty means any casualty, loss, damage, destruction or other similar loss with respect to real or personal property or improvements.

Examples of Casualty in a sentence

• For the avoidance of doubt, any prepayment of the Loan in connection with a Condemnation or Casualty, and the related release of any Lien of any Mortgage on such Property in connection with such Condemnation or Casualty, if applicable, shall be governed solely by Section 2.4.2, Section 6.3 and Section 6.4 hereof.

• If the Premises or any Common Areas serving or providing access to the Premises shall be damaged by Casualty, then unless this Lease is terminated in accordance with Section 11.2 below, Landlord shall promptly and diligently, subject to all other terms of this Article 11, restore the Base Building and such Common Areas.

• Such restoration shall be to substantially the same condition of the Base Building and the Common Areas prior to the Casualty, except for modifications required by zoning and building codes and other laws or by any Mortgagee or any other modifications to the Common Areas deemed desirable by Landlord and which are consistent with the character of the Project (provided that access to the Premises shall not be materially impaired by such modifications to the Common Areas).

• In addition, Lender may participate in any settlement discussions with any insurance companies with respect to any Casualty in which the Net Proceeds or the costs of completing the Restoration are equal to or greater than the Casualty/Condemnation Threshold 161 Amount, and Borrower shall deliver to Lender all instruments reasonably required by Lender to permit such participation.

• In the Expense Year in which a Casualty occurs, there shall be included in Operating Expenses Landlord’s commercially reasonable deductible under its property insurance policy.

More Definitions of Casualty

Casualty has the meaning set forth in Section 12.13.1 hereof.

Casualty means, with respect to any Property, any fire, explosion, flood, collapse or other casualty affecting all or any portion of such Property.

Casualty means, with respect to a Financed Vehicle, the total loss or destruction of such Financed Vehicle.

Casualty shall have the meaning specified in Section 6.2 hereof.

Casualty means, with respect to any Transaction Unit, that the Servicer has actual knowledge that the Closed-End Vehicle included in such Transaction Unit (a) shall have suffered damage or destruction resulting in an insurance settlement on the basis of an actual, constructive or compromised total loss, (b) shall have suffered destruction or damage beyond repair, (c) shall have suffered damage that makes repairs uneconomic or (d) shall have suffered destruction, damage, theft, loss or disappearance that, in accordance with Customary Servicing Practices, results in a termination of the related Transaction Lease.

Casualty means any damage to or destruction of or which affects the Leased Premises or Adjoining Property or which arises from the Adjoining Property.

Casualty is defined in Section 12.1.