Catastrophe Event definition

Catastrophe Event as used herein shall mean any loss occurrence covered hereunder which has been assigned a catastrophe number by the Property Claim Services (hereinafter “PCS”).
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Catastrophe Event means a single incident or series of closely related incidents that result in $25,000,000 or more in United States industry-wide direct insured losses to property, as reported by Property Claims Services, and that affect a significant number of policyholders and insurers.
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Catastrophe Event means (i) a Seller Bankruptcy Event; or (ii) the complete cessation by Seller of its business relating to the design, manufacture and sale of laser projectors (it being understood and agreed that the failure by Seller to deliver any products at all under the Laser Supply Agreement for a period of at least three (3) years after Buyer has submitted and not withdrawn a purchase order for any products under the Laser Supply Agreement following manufacturing acceptance testing of the Motion-Based Laser Projector System shall be deemed to be such a cessation by Seller under this clause (ii), except to the extent that such failure is caused by a Force Majeure Event, in which event such three year period shall be extended by a number of days equal to the duration of such Force Majeure Event).
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Examples of Catastrophe Event in a sentence

  • CAT Field Task Adjusting Services is primarily intended for Catastrophe Deployment in response to a Catastrophe Event.

  • Ark’s Catastrophe Event Response Plan provides information to quantify liquidity implications of losses, reinsurance recoveries, cashflows and trust funds in the event of a catastrophe or large loss.

  • Seller and Buyer each intend, and Seller and Buyer each agree that they will not make any argument to the contrary in any court of law or equity, that the licenses and related rights and benefits granted to Buyer pursuant to this Agreement, including the release of escrow and Buyer’s right to make and have made upon the occurrence of a Catastrophe Event, shall be entitled to the benefits and protections of Section 365(n) of Title 11 of the U.S.

  • Table 5.1 provides an illustration of the difference in timing of financing needs resulting from recovery and reconstruction operations for a moderate damage.Table 5.1 Estimated Timing of Financial Needs due to a Catastrophe Event Short term Medium term Long term(1-3 months) (3-9 months) (over 9 months)Recovery operation Removal of debris MaintenanceReconstruction operationRebuild An optimal risk financing strategy will ensure that funds are available at the appropriate time in a post disaster situation.

  • To ensure Citizens’ ability to increase or decrease the need for Adjusters to support a Catastrophe Event as well as claims that may occur during non- Catastrophe periods, Citizens is seeking to contract with a panel of Vendors capable of providing at least 5,000 Adjusters to provide Non-Litigated, Litigated and Fast Track Claims Services throughout the State of Florida.

  • The Service Provider will update Youi Procurement of capacities during a Catastrophe Event at periods requested by Youi.

  • In addition, we evaluate the price of the bond for a scenario of extreme events of the magnitude of the 9/11 attacks (Catastrophe Event A in Table 3) and higher, as itcan be in the case of chemical, biological, radiological and nuclear terrorism incidents20 (Catastrophe Event B in Table 3).

  • Seller and Buyer each intend, and Seller and Buyer each agree that they will not make any argument to the contrary in any court of law or equity, that the licenses and related rights and benefits granted to Buyer pursuant to this Agreement, including the release of escrow and Buyer’s right to make and have made upon the occurrence of a Catastrophe Event, shall be entitled to the benefits and protections of Section 365(n) of Title 11 of the U.S. Code.

  • Estimated price of the coupon paying CAT bond in the case of Catastrophe Event A reaches 108.02 USD.

  • Similar results are obtained for the Catastrophe Event B.Finally, we see that despite the increase in the thresholds and/or in the dependence level, the price of a zero-coupon CAT bond stays at the level of 83.96 USD for T=3 and79.21 USD for T=4 starting from the Case VI.


More Definitions of Catastrophe Event

Catastrophe Event means (i) a single incident or series of closely related incidents that result in $25,000,000 or more in United States industry-wide direct insured losses to property and that affect a significant number of policyholders and insurers or (ii) an event, which may include losses, that the Company believes are, or will be, material to operations, either in amount or in number of claims made, each of which shall be noted as a catastrophe in the Company’s financial reporting.
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Catastrophe Event means a single incident or series of closely related incidents that result in $25,000,000 or more in United States industry-wide direct insured losses to property, as reported by Property Claims Services, and that affect a significant number of policyholders and insurers. “Change of Control” means: (1) any “person” or “group” of related persons (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of a majority of the total voting power of the Voting Stock of the Company (or its successors by merger, consolidation or purchase of all or substantially all of its assets); (2) during any period of twelve consecutive months, a majority of the members of the Board of Directors of the Company are not Continuing Directors; (3) the sale, assignment, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole to any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act); or (4) the adoption by the stockholders of the Company of a plan or proposal for the liquidation or dissolution of the Company; “Code” means the Internal Revenue Code of 1986, as amended. “Commodity Agreement” means any commodity futures contract, commodity option, commodity swap agreement, commodity collar agreement, commodity cap agreement or other similar agreement or arrangement entered into by the Company or any Subsidiary. 4
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Related to Catastrophe Event

  • Catastrophic Event : means an unforeseen event of biotic or abiotic nature caused by human action that leads to important disturbances of agricultural production systems and forest structures, eventually causing important economic damage to the farming or forestry sectors;

  • Catastrophe means a condition or occurrence that interferes with the ability of a district to comply with the requirements of the PIA, including:

  • Sabotage means deliberate damage, with malevolent intent, to a category 1 or category 2 quantity of radioactive material, a device that contains a category 1 or category 2 quantity of radioactive material, or the components of the security system.

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Catastrophic illness or “injury” means an illness or injury that is expected to incapacitate the employee for an extended period of time, or that incapacitates a member of the employee’s family which incapacity requires the employee to take time off from work for an extended period of time to care for that family member, and taking extended time off work creates a financial hardship for the employee because he or she has exhausted all of his or her sick leave and other paid time off.

  • Epidemic means a sudden development and rapid spreading of a contagious disease in a region where it developed in a simply endemic state or within a previously unscathed community.

  • Catastrophic injury or illness means a life-threatening injury or illness of an employee or a member of an employee's immediate family that totally incapacitates the employee from work, as verified by a licensed physician, and forces the employee to exhaust all leave time earned by that employee, resulting in the loss of compensation from the state for the employee. Conditions that are short-term in nature, including, but not limited to, common illnesses such as influenza and the measles, and common injuries, are not catastrophic. Chronic illnesses or injuries, such as cancer or major surgery, that result in intermittent absences from work and that are long-term in nature and require long recuperation periods may be considered catastrophic.

  • War means war, whether declared or not, or any warlike activities, including use of military force by any sovereign nation to achieve economic, geographic, nationalistic, political, racial, religious or other ends.

  • Catastrophic illness or injury means one of the following:

  • Pandemic means any outbreaks, epidemics or pandemics relating to SARS-CoV-2 or COVID-19, or any evolutions or mutations thereof, and the governmental and other responses thereto.

  • Explosion means the sudden release of energy sufficient to cause pressure waves and/or projectiles that may cause structural and/or physical damage to the surrounding of the tested-device.

  • Landslide means episodic down slope movement of a mass of soil or rock that includes, but is not limited to, rock falls, slumps, mudflows, and earth flows.

  • windstorm means straight line winds of at least 80 miles per

  • Act of God means a cataclysmic phenomenon of nature, including earthquake, flood or cyclone. Rain, snow, wind, high water or any other natural phenomenon, which might reasonably have been anticipated from historical records of the general locality of the City, shall be deemed not to be acts of God;

  • Earthquake insurance, if the Leased Property is currently, or at any time in the future, located within a major earthquake disaster area, in amount, and in such form and substance and with such limits and deductibles as are satisfactory to Landlord; and

  • Force Majeure Events means acts of war, domestic and/or international terrorism, civil riots or rebellions, quarantines, embargoes and other similar unusual governmental actions, extraordinary elements of nature or acts of God.

  • Riot means a tumultuous disturbance of the public peace by three or more persons assembled together and acting with a common intent.

  • Acute toxicity means concurrent and delayed adverse effects that result from an acute exposure and occur within any short observation period, which begins when the exposure begins, may extend beyond the exposure period, and usually does not constitute a substantial portion of the life span of the organism.

  • Mental, Nervous or Psychological Disorder means a mental or nervous health condition including, but not limited to: anxiety, depression, neurosis, phobia, psychosis; or any related physical manifestation.

  • COVID-19 Pandemic means the epidemic, pandemic or disease outbreak associated with COVID-19.

  • Force Majeure Event means an event beyond the reasonable control of any party including an outbreak of a serious disease or epidemic, or quarantine or other public health emergencies, fire, flood, earthquake, explosion or other casualty or accident or act of God, or war or other violence, strike, lock-out, labour dispute, acts of any governmental body, war, insurrection, sabotage, embargo, interruption of or delay in transportation, unavailability of or interruption or delay in telecommunications or inability to obtain raw materials, supplies or power.

  • Epidemic Failure means a series of repeating failures or defects resulting in at least a 0.5% failure rate for the same Product or Material during any twelve-month period.

  • Disaster means a sudden emergency occurrence beyond the control of the licensee, whether natural, technological, or man-made, that renders the licensee unable to operate the facility or makes the facility uninhabitable.

  • Embargo means a ban placed by the Board on a Club in respect of player registrations, as more fully defined in Appendix H.

  • Expropriation Event means the appropriation, confiscation, expropriation, cancellation, seizure or nationalization (by Requirement of Law, intervention, court order, condemnation, exercise of eminent domain or other action or form of taking) of ownership or control of a Credit Party or any of its Subsidiaries or of any Project or any substantial portion thereof, or any substantial portion of the rights related thereto, or any substantial portion of the economic value thereof, or which prevents or materially interferes with the ability of a Person to own or operate the property subject to such action, including by the imposition of any Tax, fee, charge or royalty.

  • Natural Disaster means a flood, hurricane, tornado, earthquake, mudslide, tsunami, avalanche, landslide, volcanic eruption, fire, wildfire or blizzard that is due to natural causes.