Casualty Cost definition

Casualty Cost has the meaning ascribed thereto in Section 13.3(a).
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Casualty Cost means the aggregate cost to restore, repair or replace the affected Purchased Assets subject to such Casualty Loss to a condition substantially equivalent to its or their condition prior to such Casualty Loss (including, for the avoidance of doubt, obtaining any replacement licenses, registrations or approvals) minus any Casualty Recovery Amounts.
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Casualty Cost is defined in Section 13.3.
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Examples of Casualty Cost in a sentence

  • If the aggregate Casualty Cost associated with all Casualty Losses is greater than $5,000,000, then USAC may elect to decrease the number of New Common Units issuable by USAC at Closing by an amount equal to (i) the absolute value of the difference between (A) the Restoration Cost and (B) $5,000,000 divided by (ii) the Execution Price.

  • If the Casualty Costs are in excess of twenty percent (20%) of the Purchase Price, then each of Buyer and Seller may, within thirty (30) days following the calculation of the Casualty Cost elect, at its option and by written notice to the other Party, to terminate this Agreement.

  • If the Casualty Cost for such Casualty Event is equal to or less than two percent (2%) of the Purchase Price, this Agreement shall remain in full force and effect, no failure of a condition to Closing shall be deemed to exist by virtue of such event(s), and the Purchase Price shall remain unchanged provided that any insurance proceeds received by Seller or any Affiliate thereof including the Project Company shall be paid to Buyer at the Closing for Buyer.

  • Notwithstanding the foregoing, if any Casualty Event results in the termination of the SEPA or the Ground Lease, or a right of any third party to terminate any such agreement (that is not waived by such third party), then, notwithstanding the amount of the Casualty Cost, Buyer shall have the right to terminate this Agreement by provision of written notice to Seller.

  • If the Casualty Costs are in excess of two percent (2%) but equal to or less than twenty percent (20%), or if the Casualty Costs are in excess of twenty percent (20%) but neither Party elects to terminate this Agreement, the Parties shall proceed with the transactions contemplated by this Agreement (and Seller shall not be deemed to be in breach of this Agreement as a result of such Casualty Event) and the Purchase Price will be reduced by the full amount of the Casualty Cost.

  • If the aggregate Casualty Cost associated with all Casualty Losses is greater than 20% of the Base Purchase Price, then either Buyer or Seller may terminate this Agreement pursuant to Section 8.1(e) hereof.

  • If the Casualty Cost is equal to or less than $1,500,000 of the Base Purchase Price, (x) neither Buyer nor Seller shall have the right or option to terminate this Agreement and (y) there shall be no reduction in the amount of the Purchase Price.


More Definitions of Casualty Cost

Casualty Cost has the meaning set forth in Section 5.10(a).
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Casualty Cost has the meaning ascribed thereto in Section 13.3(a). “CE-Dispute Notice” has the meaning ascribed thereto in Section 15.3(c). “CE-Notice” has the meaning ascribed thereto in Section 15.3(a).
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Casualty Cost has the meaning specified in Section 6.6.
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