Casualty Losses definition
Examples of Casualty Losses in a sentence
The aggregate amount to be deducted from the Purchase Price at the Closing as determined by the Parties on account of Title Defects, Environmental Defects and Casualty Losses, and the Allocated Value of the Assets (or portion thereof) to be excluded on account of preferential purchase rights and consents shall not exceed twenty percent (20%) of the Purchase Price.
The aggregate amount to be deducted from the Purchase Price at the Closing as determined by the Parties on account of Title Defects, Environmental Defects and Casualty Losses, and the Allocated Value of the Assets (or portion thereof) to be excluded on account of preferential purchase rights and consents shall not exceed 20 percent (20%) of the Purchase Price.
For the purpose of this Section 7.1, the term “substantial” shall be defined as Casualty Losses or Properties taken in condemnation that, individually, or in the aggregate: (i) will materially interfere with the ownership or operation of the Properties; or (ii) is reasonably expected to result in a loss of revenue; or (iii) results in Claims, losses, damages or expenses, any of which are more than five hundred thousand dollars net to Seller’s interest.
The sum of all Consolidated Casualty Losses shall be less than ten percent (10%) of the Consolidated Purchase Price.
There have been no Casualty Losses since the Effective Time with respect to any Company Assets with Damages estimated to exceed Seven Hundred Fifty Thousand Dollars ($750,000) net to the interest of the applicable Company(ies).
The aggregate Casualty Losses since the Balance Sheet Date shall be less than 20% of the Purchase Price, prior to any adjustments thereto.
If, prior to the date of shipment of the Assets from Seller's facilities to Buyer's facilities, all or part of the Assets are damaged or destroyed by fire, flood, storm or other casualty ("Casualty Losses"), Seller must promptly notify the Buyer in writing of the nature and extent of the Casualty Loss and Seller's estimate of the cost required to repair or replace that portion of the Assets affected by the Casualty Loss.
Excluding liability for Casualty Losses, Patheon's liability for Active Material calculated in accordance with this Section 2.2 the Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D.
There are no other Casualty Losses affecting any of the Properties.
The aggregate Casualty Losses shall be less than 20% of the unadjusted Purchase Price.