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 physical damage by way of a Casualty Event has been suffered with respect to such Portfolio Site prior to the Initial Closing Date as a result of which (a) the Tower on such Portfolio Site is unusable as a communications tower, or (b)(i) the ability of the Tower on such Portfolio Site to continue to be usable as a communications tower and (ii) the value of such Portfolio Site is materially impaired.
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Examples of Casualty Site in a sentence

  • 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. (b) If a Site is deemed a Casualty Site, then: (i) Excluded Site.

  • 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.


More Definitions of Casualty Site

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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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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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.
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Casualty Site means a Site with respect to which a Force
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Related to Casualty Site

  • 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.

  • 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.

  • Casualty Loss has the meaning set forth in Section 6.3(b).

  • 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 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.

  • 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

  • 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.

  • Leasehold Improvements means all buildings, structures, improvements and fixtures located on any Leased Real Property which are owned by Company or any Company Subsidiary, regardless of whether title to such buildings, structures, improvements or fixtures are subject to reversion to the landlord or other third party upon the expiration or termination of the lease for such Leased Real Property.