Casualty Site definition

Casualty Site means a Portfolio Site with respect to which physical damage by way of a casualty event has been suffered with respect to such Site prior to the Initial Closing Date as a result of which (i) the Tower on such Site is unusable as a communications tower or (ii) (A) the ability of the Tower on such Site to continue to be usable as a communications tower and (B) the value of such Site is materially impaired.
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Casualty Site means a Tower with respect to which a Force ------------- Majeure event or occurrence in the nature of a casualty typically insured against through casualty insurance (excluding ordinary course deterioration or ordinary wear and tear) has occurred following the date hereof, which event or occurrence rendered such Tower unusable as a communications tower and would cost over $25,000 to bring the condition of such Tower to its condition immediately prior to such event or occurrence.
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Casualty Site means a Portfolio Site with respect to which (i) a casualty, condemnation or other taking, foreclosure, deed in lieu of foreclosure or similar proceeding involving a Lien or Ground Lessor Mortgage has occurred prior to the Applicable Closing Date that renders the Tower on such Site unusable as a communications tower or that otherwise materially impairs the value of such Site or (ii) a notice of condemnation or other taking, foreclosure, deed in lieu of foreclosure or similar proceeding involving a Lien or Ground Lessor Mortgage that is reasonably likely to render the Tower on such Site unusable as a communications tower or otherwise materially impair the value of such Site has been received prior to the Applicable Closing Date.
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Examples of Casualty Site in a sentence

  • The determination that a Site is a Casualty Site at the Initial Closing shall be made by Acquiror in its reasonable discretion acting in good faith, without regard to any Site Designation set forth on the Site List.

  • If such other Parties do not object within 10 business days of receipt of such notice, such Site shall be deemed to be a Casualty Site.

  • All Site Designation Pre-Closing Disputes concerning the designation of a Site as a Casualty Site shall be resolved by the dispute resolution process described in Section 4.4.

  • If such other party does not object within 10 business days of receipt of such notice and reasons, to the designation of such Site as a Casualty Site, such Site shall be deemed to be a Casualty Site.

  • All disputes concerning the designation of a Site as a Casualty Site shall be resolved by arbitration as described in Section 3.4, it being agreed that the burden of proof shall fall on the party asserting the existence of a Casualty Site.

  • With respect to each Casualty Site, if Seller does not repair the Tower or pay Buyer to repair the Tower pursuant to Section 3.8(b) prior to the Final Closing, then, in each such case, such Casualty Site shall be treated as an Excluded Site as if Seller had elected to exclude such Casualty Site pursuant to Section 3.8(a) unless Buyer shall elect to cause Seller to transfer such Site in accordance with Section 3.8(a).

  • Seller may elect to repair the Tower so as to bring the condition of such Tower to the condition that it was in immediately prior to the event or occurrence of casualty causing such Tower to be designated as a Casualty Site, or, in lieu thereof, pay Buyer at the relevant Closing the amount reasonably determined by Seller and agreed to by Buyer, such agreement by Buyer not to be unreasonably withheld, delayed or conditioned, to be required to repair the Tower in the manner described above.

  • Subject in its entirety to Sections 4.1(b)-(c), if, following the expiration of the Due Diligence Period, any Assignable Site is subject to an occurrence occurring after the expiration of the Due Diligence Period that would, if such occurrence had occurred prior to the expiration of the Due Diligence Period, have resulted in such Assignable Site being a Casualty Site or a Damaged Site, then Buyer shall be entitled to designate any such Assignable Site as an “Excluded Site”.

  • If prior to the Initial Closing, Contributors or Lessee discover that a Site constitutes a Casualty Site, Contributors or Lessee, as the case may be, will promptly notify the other parties in writing that it considers such Site to be a Casualty Site, with reasonable specificity as to the reasons therefor.

  • With respect to each damaged Casualty Site, if Contributors and/or Lessor do not, or do not elect to, repair the Tower or pay Lessee to repair the Tower pursuant to this Section 3.7(b) prior to the Initial Closing, then, in each such case, such Casualty Site will be treated as an Excluded Site as if Contributors had elected to exclude such Casualty Site pursuant to Section 3.7(a) unless Lessee will elect to cause Lessor to Lease the Leased Property of such Site in accordance with Section 3.7(a).


More Definitions of Casualty Site

Casualty Site means a Site with respect to which a Force
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Casualty Site means a Portfolio Site with respect to which (i) a casualty occurs prior to the applicable Closing (subject to Section 8.16) and which renders the Tower or the appurtenant facilities on such Portfolio Site unusable as a communications tower as determined and certified by the Structural Engineer.
Sample 1
Casualty Site means a Site with respect to which a Force Majeure event occurs prior to the Initial Closing Date for the applicable Site, which event or occurrence renders the Tower on such Site unusable as a communications tower or that otherwise materially impairs the value of such Site.
Sample 1
Casualty Site means a Portfolio Site with respect to which physical damage has been suffered with respect to such Portfolio Site prior to the applicable Closing Date for such Sale Site as a result of which (i) the Tower on such Portfolio Site is unusable as a communications tower or (ii) (A) the ability of the Tower on such Portfolio Site to continue to be usable as a communications tower and (B) the value of such Portfolio Site is materially impaired.
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Related to Casualty Site

  • Casualty insurance means liability insurance.

  • the Property means the Property more particularly described in Condition 2 of the Conditions of Sale (as defined in 1.6 below);

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

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Property, Plant and Equipment means any item of real property, or any interest therein, buildings, improvements and machinery.

  • Repair means to restore to proper operating condition a tank, pipe, spill prevention equipment, overfill prevention equipment, corrosion protection equipment, release detection equipment or other UST system component that has caused a release of product from the UST system or has failed to function properly.

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Notes Mortgage.

  • Casualty Loss means, with respect to all or any portion of the Assets, any destruction by fire, storm or other casualty, or any condemnation or taking or threatened condemnation or taking, of all or any portion of the Assets.

  • farm building means that part of a bona fide farming operation encompassing barns, silos and other ancillary development to an agricultural use, but excluding a residential use;

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II hereof.

  • The Project Site, where applicable, means the place or places named in the SCC.

  • Premises means the location where the Services are to be supplied, as set out in the Specification.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Tenant’s Property means Removable Installations and, other than Installations, any personal property or equipment of Tenant that may be removed without material damage to the Premises, and (z) “Installations” means all property of any kind paid for by Landlord, all Alterations, all fixtures, and all partitions, hardware, built-in machinery, built-in casework and cabinets and other similar additions, equipment, property and improvements built into the Premises so as to become an integral part of the Premises, including, without limitation, fume hoods which penetrate the roof or plenum area, built-in cold rooms, built-in warm rooms, walk-in cold rooms, walk-in warm rooms, deionized water systems, glass washing equipment, autoclaves, chillers, built-in plumbing, electrical and mechanical equipment and systems, and any power generator and transfer switch.

  • Project Equipment means the items of machinery, equipment or other personal property used in connection with the construction and development of the Project pursuant to the provisions hereof, and all replacements thereof and substitutions therefor made pursuant to this Agreement.

  • Personal Property means any machinery, equipment, tools, vehicles, furniture, leasehold improvements, office equipment, plant, parts and other tangible personal property.

  • The Site, where applicable, means the designated project place(s) named in the bidding document.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Project site, where applicable, means the place indicated in bidding documents.

  • the Premises means the building or part of the building booked and referred to in the contract

  • Plant Site (Works, Factory) means the local integration of one or more plants, with any intermediate administrative levels, which are under one operational control, and includes common infrastructure, such as:

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.

  • business premises means premises on which a business is conducted, premises rented in whole or in part to others, or held for rental.

  • Emergency repair means work necessary to prevent destruction or dilapidation to real property or structural appurtenances thereto immediately threatened or damaged by fire, flood, earthquake or other disaster.

  • Standard equipment means the basic configuration of a vehicle which is equipped with all the features that are required under the regulatory acts of the Contracting Party including all features that are fitted without giving rise to any further specifications on configuration or equipment level.

  • Common Areas and Facilities means collectively the Development Common Areas and Facilities and the Residential Common Areas and Facilities and all those parts and such of the facilities of the Development designated as common areas and facilities in any Sub-Deed;