Casualty Property definition

Casualty Property has the meaning set forth in Section 1.8.2 hereof.
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Casualty Property means any Item of Leased Property suffering a Casualty Event.
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Casualty Property has the meaning given to such term in Section 11.1(b).
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Examples of Casualty Property in a sentence

  • If, prior to the Closing, any of the Improvements are damaged by fire or other casualty (collectively, "Casualty"), as promptly as possible after Property Owner learns of such Casualty, Property Owner shall deliver to CBL/OP written notice thereof ("Casualty Loss Notice") together with Property Owner's determination as to whether the damage constitutes a "Material Damage" (as defined below).

  • Employer’s Liability; Fidelity and Surety; Motor Vehicle and Aircraft Property Damage, Fire, Theft, Comprehensive, Collision; Inland Marine (RESTRICTED – NO NEW BUSINESS) North Dakota December 11, 1989 July 16, 2001 Casualty; Property Ohio July 17, 1983 Accident & Health; Aircraft; Allied Lines; Boiler & Machinery; Burglary & Theft; Collectively Renewable A & H; Commercial Auto—Liability; Commercial Auto—No Fault; Commercial Auto—Phys.

  • The term "Seller Insurance Expirations": shall mean all insurance business of Seller including but not limited to Health, Life, Casualty, Property and Liability premiums either directly billed from the Insurance Company or Seller Agency ▇▇▇▇▇▇▇▇.

  • Upon notifi- cation of a covered event from the sponsor, the Claims Administrator shall review the notification for com- pleteness within thirty (30) days of re- ceipt.

  • In the event that the Agreement is terminated pursuant to this 1391 subsection, the Developer shall be required to remove or cause to be removed debris from and 1392 restore the Casualty Property to a reasonably clean and safe condition.

  • Employer’s Liability; Fidelity and Surety; Motor Vehicle and Aircraft Property Damage, Fire, Theft, Comprehensive, Collision; Inland Marine Affirmative Insurance Company North Dakota Casualty; Property Affirmative Insurance Company Ohio Accident & Health; Aircraft; Allied Lines; Boiler & Machinery; Burglary & Theft; Collectively Renewable A & H; Commercial Auto — Liability; Commercial Auto — No Fault; Commercial Auto — Phys.

  • A "Casualty Property" shall mean a Property that, between the Acceptance Date and the Closing Date incurs damage caused by fire or other casualty, and such damage is in excess of $100,000 and such damages have not been repaired and all liens applicable to such repairs have not been waived, released or expired prior to the Closing Date.

  • In the event the City elects to rebuild or restore the Casualty Property, all applicable 1405 insurance proceeds relative to the Casualty Property shall be applied first to complete such 1406 rebuilding or reconstruction.

  • Section 13.05 If this Lease is terminated with respect to a Casualty Property or a Condemned Property, the Fixed Rent due after the termination of the Lease shall be reduced by the amount of the Fixed Rent allocable to such Casualty Property or Condemnation Property pursuant to Exhibit E.

  • If Grantee has not timely delivered such notice of intent to Grantor, then upon the expiration of such thirty (30) day period, the Timber Rights shall terminate with respect to such Casualty Property, and such Casualty Property shall be released from the Timber Rights and shall become Released Property.


More Definitions of Casualty Property

Casualty Property has the meaning set forth in Section 20.7.1 (Notice to PGCPS). “Casualty Restoration” has the meaning set forth in Section 20.7.2 (Obligation to Restore).
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Casualty Property means a Property that, between the Acceptance Date and the Closing Date incurs damage caused by fire or other casualty, and such damage is in excess of $100,000 and such damages have not been repaired and all liens applicable to such repairs have not been waived, released or expired prior to the Closing Date. A "Condemnation Property") shall mean a Property that between the Acceptance Date and the Closing Date becomes subject to a taking or condemnation of all or any portion of such Property, which taking materially affects the Tenant's use of the Property. In the event of a condemnation or casualty with respect to any Property which qualifies such Property as a Condemnation Property or a Casualty Property, the Buyer may elect to either (i) terminate this Agreement, in which case the Deposit shall be promptly returned and neither party shall have any continuing obligations under this Agreement, or (ii) elect to close on the Closing Date, in which event there shall be no adjustment to the Total Purchase Price, but Buyer shall be entitled to receive the applicable condemnation award and all insurance proceeds otherwise payable to Seller with respect to such condemnation or casualty, as the case may be.
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Related to Casualty Property

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • City Property means any real property owned by City, whether in fee or other ownership estate of interest.

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