Casualty Payment Date definition

Casualty Payment Date means each January 1, April 1, and July 1 and October 1 of each year, commencing on January 1, 1987, throughout (and including the last day of) the Primary Term. and each Renewal Term

Casualty Payment Date shall have the meaning assigned to it in SECTION 10(I)(L)(B). "CLAIM" shall have the meaning assigned to it in SECTION 10(M). "CLOSING DATE" shall have the meaning assigned to it in SECTION 7(A)(1). "CODE" shall mean the Uniform Commercial Code codified as Nevada Revised Statutes (NRS) Chapter 104, as the same may, from time to time, be in effect in the State of Nevada; provided, however, in the event that, by reason of mandatory provisions of law, any or all of the attachment, perfection or priority of Agent's security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of Nevada, the term "Code" shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such attachment, perfection or priority and for purposes of definitions related to such provisions. "COLLATERAL" shall mean the property, real or personal, tangible or intangible, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of GE Capital to secure the Obligations, including (without limitation) the Gaming Equipment. "COLLATERAL SCHEDULE" shall mean, collectively, each schedule describing the Gaming Equipment as to which a Funding under the Term Loan Facility is to be made, delivered by Aladdin Gaming to GE Capital pursuant to SECTION 7(B)(7). "COLLATERAL TAXES" shall mean all Taxes, including interest and penalties thereon, which at any time may be levied, assessed or imposed by any foreign or Federal, state or local authority upon or with respect to GE Capital or Aladdin Gaming by reason of the Collateral (or the purchase, ownership, delivery, leasing, possession, use or operation thereof) or any Operative Documents (or any rentals, payments or receipts thereunder) during or with respect to the Lease Term or the Term Loan Period.

Casualty Payment Date has the meaning set forth in paragraph (a) of Section 15 hereof.

Examples of Casualty Payment Date in a sentence

• Definitions for the following terms, to the extent they appear in any Transaction Document, shall be amended to conform with the amended definitions in the Equipment Lease: Basic Rent, Basic Rent Payment Date, Casualty Payment Date, Lease Term, Overdue Interest Rate, Primary Term, Renewal Term, and Termination Payment Date; provided that “Lease Term” as defined in the Easement Lease shall be amended as set forth herein.

• On the Casualty Payment Date, Lessee shall pay to Lessor any Rent then due, plus the Casualty Value of the Aircraft determined as of such Casualty Payment Date, together with interest at the Late Payment Rate for the period (if any) from the Casualty Payment Date through the date of payment.

• Each prepayment pursuant to this Section 2.10(a) shall be in an amount equal to the Applicable Principal Amount with respect to the Transponder that suffered the Event of Loss, together with accrued and unpaid interest on the principal amount so prepaid to, but excluding, the related Casualty Payment Date; provided that no Break Funding Costs, if any, shall be due or payable in connection with such prepayment.

• On the Casualty Payment Date, Sublessee shall pay to Sublessor any Rent then due, plus the Casualty Value of the Aircraft determined as of such Casualty Payment Date, together with interest at the Late Payment Rate for the period (if any) from the Casualty Payment Date through the date of payment.

• The CASUALTY VALUE of each Unit of the Equipment suffering an Event of Loss shall be deemed to be the Stipulated Loss Value with respect to such Unit on the Payment Date immediately following the Casualty Payment Date.

More Definitions of Casualty Payment Date

Casualty Payment Date means, with respect to an Event of Loss, whichever of the following dates as may then be applicable: (a) the next Basic Rent Date following the earlier of either (i) the receipt of the related casualty insurance proceeds payable pursuant to the Required Coverages, or (ii) the sixtieth (60th) day following the occurrence of such Event of Loss; or (b) if such Event of Loss occurs after the last Basic Rent Date, then on the earlier of either (i) the receipt of the related casualty insurance proceeds payable pursuant to the Required Coverages, or (ii) the sixtieth (60th) day following the occurrence of such Event of Loss.

Casualty Payment Date has the meaning specified in Section 2.10(a).

Casualty Payment Date means, with respect to an Event of Loss, whichever of the following dates as may then be applicable: (a) the next Basic Rent Date following the earlier of either (i) the receipt of the related casualty insurance proceeds payable pursuant to the Required Coverages, or (ii) the sixtieth (60th) day following the occurrence of such Event of Loss; or (b) if such Event of Loss occurs after the last Basic Rent Date, then on the earlier of either (i) the receipt of the related casualty insurance proceeds payable pursuant to the Required Coverages, or (ii) the sixtieth (60 th ) day following the occurrence of such Event of Loss.

Casualty Payment Date during the Lease Term, shall mean each of the dates set forth in Schedule C to the Lease, provided during the Renewal Term, “Casualty Payment Date” shall mean the day of each calendar month during the Renewal Term which is the same as the day of the calendar month on which the Renewal Term began.

Casualty Payment Date means the day of each calendar month during the Renewal Term which is the same as the day of the calendar month on which the Renewal Term began.

Casualty Payment Date shall have the meaning set forth in Section 10(a) of ---------------------- the Lease. Casualty Value for any Basic Rent Date shall be the amount equal to the --------------- Lessor's Cost multiplied by the applicable percentage set forth on Schedule No. 3 for such Basic Rent Date (or the corresponding Basic Rent number), or if the Casualty Payment Date is after the last Basic Rent Date, the Casualty Value for such date shall be the amount equal to the Lessor's Cost multiplied by the applicable percentage set forth on Schedule No. 3 for the last Basic Rent Date (or the corresponding Basic Rent number).

Casualty Payment Date shall have the meaning set forth in Section 10(a) of the Lease. Casualty Value for any Basic Rent Date shall be the amount equal to the Lessor's Cost multiplied by the applicable percentage set forth on Schedule No. 3 for such Basic Rent Date (or the corresponding Basic Rent number), or if the Casualty Payment Date is after the last Basic Rent Date, the Casualty Value for such date shall be the amount equal to the Lessor's Cost multiplied by the applicable percentage set forth on Schedule No. 3 for the last Basic Rent Date (or the corresponding Basic Rent number); provided, however, in the case of an Event of Loss covered by the insurance covering loss or damage to the Aircraft required to be maintained by Lessee pursuant to the Lease (or which would have been covered by such insurance, had such insurance been maintained as required), Casualty Value shall mean the higher of Fair Market Sales Value or the amount equal to the Lessor's Cost multiplied by the applicable percentage set forth on Schedule No. 3 for the applicable Basic Rent Date (or the corresponding Basic Rent number). Claims shall have the meaning set forth in Section 11 of the Lease. Collateral shall have the meaning set forth in Section 17(b) of the Lease. Code shall have the meaning set forth in the Special Tax Indemnity Rider.