Casualty Loss Value definition

Casualty Loss Value of each Item of Equipment as of any Casualty Loss Value Payment Date means an amount determined by multiplying the Acquisition Cost of such Item of Equipment by the percentage set forth opposite such Casualty Loss Value Payment Date on the Schedule of Casualty Loss Values attached to the Equipment Agreement Supplement for such Item.

Casualty Loss Value means as of any Casualty Loss Value Date during the Term an amount determined by multiplying (a) the Acquisition Cost for all Properties subject to a Casualty or Condemnation within the then current Basic Payment Period by (b) the percentage set forth opposite such Casualty Loss Value Date on Schedule B hereto.

Casualty Loss Value means the value of the loss of one hundred percent functionality of the Property resulting from an identifiable event of a sudden, unexpected, or unusual nature.

Examples of Casualty Loss Value in a sentence

• Upon receipt by Lessor of the Casualty Loss Value: (i) the applicable Equipment shall be removed from the Lease Schedule; and (ii) Lessee’s obligation to pay Lease Charges associated with the applicable Equipment shall cease.

• The proceeds of any loss or damage insurance shall be held in trust for Lessor until such time as Lessee either (i) provides Lessor satisfactory proof that the damage has been repaired and the Equipment has been restored to good working order and condition or (ii) pays to Lessor the Casualty Loss Value.

• Until the Equipment is returned to Lessor or as otherwise herein provided, whether or not this Lease Agreement has terminated as to the Equipment, Lessee, at its expense, shall maintain: (i) property and casualty insurance insuring the Equipment for its Casualty Loss Value naming Lessor or its assigns as sole loss payee; and (ii) commercial general liability insurance insuring against liability for bodily injury and property damage naming Lessor and its assigns as additional insureds.

• Lessee’s request for a Casualty Loss Value quote shall not constitute notice that Lessee has suffered a total loss of a unit of Equipment.

• If the Total Loss occurs after the final Rent due date of the Lease Term, the Casualty Loss Value will be determined as of the last Monthly Rent due date during the Lease Term.

More Definitions of Casualty Loss Value

Casualty Loss Value of each Item of Equipment means the amount set forth as such in the Lease Agreement Supplement for such Item which amount shall be equal to the Acquisition Cost of such Item.

Casualty Loss Value means the sum of: (i) the discounted present value of all unpaid future Rent for the Lost Units; (ii) the discounted present value of the Lost Unit’s Residual Value as determined by us; and (iii) all other amounts then due under this Lease with respect to the Lost Units (including all Other Payments then owing and unpaid). If the Total Loss occurs after the final Rent due date of the Lease Term, the Casualty Loss Value will be determined as of the last Monthly Rent due date during the Lease Term. (e) We are not required to pursue any claim against any person in connection with a Total Loss or other loss or damage. (f) If we receive a payment under an insurance policy required under this Lease in connection with any Total Loss or other loss or damage to a Unit, and such payment is both unconditional and indefeasible, then provided you have complied with the applicable provisions of this section, we will either (i) ) if the payment results from a Total Loss, send you proceeds up to an amount equal to the Casualty Loss Value you previously paid us, or credit the proceeds against any amounts you owe us or (ii) if the payment results from repairs made pursuant to Section 10(c), send you proceeds up to an amount equal to the amount of your actually incurred costs of repair.

Casualty Loss Value. See Schedule 1 attached hereto

Casualty Loss Value means the amounts payable by Lessee in any -------------------- Event of Loss and as otherwise provided in this Lease, which amounts are set forth in the Lease Supplements executed and delivered pursuant to this Lease.

Casualty Loss Value means the product of the Acquisition Cost for the item of Equipment and the applicable percentage factor set forth on the Casualty Loss Schedule attached to such Schedule. Casualty Loss Value shall be determined as of the next date on which a payment of Rent is or would be due after a Total Loss or other termination of this Lease, after payment of any Rent due on such date, and the applicable percentage factor shall be that which is set forth with respect to such Rent payment date. If a Total Loss occurs after the last Rent payment date in the Basic Term, then the applicable percentage factor shall be the last percentage factor set forth on the Casualty Loss Schedule, and the Casualty Loss Value shall be payable on the first to occur of either the expiration date of the Lease Term, or the next date for the payment of Rent after the Total Loss, or thirty (30) days after the Total Loss occurs.

Casualty Loss Value means the higher of the then current Fair Market Value or the applicable amount set forth in Table 1 to the Aircraft Lease Schedule attached hereto as Exhibit A.

Casualty Loss Value as of any date means an amount equal to the Acquisition Cost of such Asset minus all amounts of Casualty Loss Value allocable to such Asset to the extent actually paid on or prior to such date, whether pursuant to Section 16(c) or 23(a)(iv) of the Asset Use Agreement or otherwise.