Damage Limitation definition

Damage Limitation means (a) $1,000,000 with respect to a Known Breach, other than a wilful and intentional act taken after the date of this Agreement for which Seller is obligated under clauses (b) or (c) below; (b) an amount equal to the net proceeds of sale which would otherwise be due Seller hereunder (but for the wilful act of Seller described herein) with respect to a monetary Known Breach which is a wilful and intentional act of Seller (but not of its agents or third-party managers) taken after the date of this Agreement, for which Buyer's damages or other remedies are of a liquidated nature that is readily ascertainable; and (c) $6,000,000 with respect to all other Known Breachs which arise out of a wilful and intentional act of Seller (but not of its agents or third party managers) taken after the date of this Agreement. Seller may use the proceeds from the sale to cure any Known Breach and shall use the proceeds of sale to cure any Known Breach described under clause (a) which is liquidated and monetary in nature and readily ascertainable and under clause (b), in each case subject to the applicable Damage Limitation. Seller shall provide Buyer with notice of whether or not it has cured a Known Breach on or prior to the expiration of the Seller's Cure Period and evidence reasonably satisfactory to Buyer of any such cure. Notice of cure as required herein may be delivered by facsimile transmission to the FAX numbers set forth in Section 14 below (and such notice shall be deemed given on the date set forth in Section 14 below).
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Examples of Damage Limitation in a sentence

  • If any part of the foregoing provisions related to the agreement to arbitrate disputes is found to be unenforceable, then none of the provisions regarding arbitration will apply, but the Damage Limitation, Class Action Waiver and the Jury Trial Waiver shall continue to apply.

  • Except where prohibited, participation in the Contest constitutes entrant’s consent to use by the Station and its agent of entrant’s name, likeness, photograph, voice, opinions, entry, and/or biographical information (including hometown and state) for promotional purposes in any media, worldwide, without further payment or consideration, unless otherwise prohibited by law.

  • Notwithstanding the foregoing, this Damage Limitation shall not apply to claims alleging the breach of the nonsolicitation or confidentiality provisions contained in these Policies.

  • Preventing Chaos in a Crisis: Strategies for Prevention, Control, and Damage Limitation.

  • Email: ana@uniovi.es **This work has benefited from the financial support from the project ECO2013-43925-R (Ministry of Economy and Competitiveness) and the project “Oviedo Efficiency Group” FC-15- GRUPIN14-048 (European Regional Development Fund (FEDER) and Principality of Asturias, Science, Technology and Innovation Plan, 2013-2017).

  • The Fund understands the Damage Limitation and considers it reasonable and appropriate.

  • In both cases, however, it remains true that, contrary to conventional wisdom, the the range of 8m values for which more wage flexibility is welfare reducing increases with the size of the exchange rate coefficient in the interest rate rule.

  • Additional guidance can be found in our Flood Line Publication 'Damage Limitation'.

  • In particular, TSI limit applies to flat slab systems without walls, considered as systems of nominal ductility level (see Table 1).Regarding deformability, modern codes set acceptable values for interstorey drift ratio (IDR) –aimed at designing to Damage Limitation Limit State (DLS)— regardless of the structural system considered, but still some codes, such as NZS 3101, provide more restrictiveIDR limitations for flat-slab structures (see Table 1).

  • The authors would like to thank the Research Council of Norway and all partners in the R&D project "Damage Limitation" for their financial contribution.

Related to Damage Limitation

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Accidental Damage means physical damage, breakage or failure of Your Covered Equipment due to an unforeseen and unintentional event occurring either due to handling (e.g., dropping the Covered Equipment or through liquid contact) or due to an external event (e.g., extreme environmental or atmospheric conditions). The damage must affect the functionality of Your Covered Equipment, which includes cracks to the display screen that affect the visibility of the display.

  • 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:

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.

  • Serious damage ’ means any specific defect defined in this section; or an equally objectionable variation of any one of these defects, any other defect, or any combination of defects which se- riously detracts from the appearance, or the edible or marketing quality of the fruit. The following specific defects shall be considered as serious damage:

  • Damage means actual and/or physical damage to tangible property;

  • Serious bodily injury means bodily injury which involves a substantial risk of death, extreme physical pain, protracted obvious disfigurement or protracted loss or impairment of the function of a bodily member, organ or mental faculty.

  • Injury/Injured means a bodily injury caused by an accident occurring while the Insured’s coverage under this Policy is in force and resulting directly and independently of all other causes of Loss covered by this Policy. The injury must be verified by a Physician.

  • Major Damage means damage that in the estimation of the surveyor exceeds USD

  • Catastrophic illness or injury means one of the following:

  • Consequential Loss means indirect or consequential loss or damage such as, but not limited to, loss of contract, bargain, expectation, opportunity, profit, production, revenue, anticipated cost reduction or interest payable howsoever caused, arising out of or in connection with this Contract.

  • Premises Partial Damage means damage or destruction to the Premises, other than Lessee-Owned Alterations and Utility Installations, the repair cost of which damage or destruction is less than fifty percent (50%) of the then Replacement Cost (as defined in Paragraph 9.1(d)) of the Premises (excluding Lessee-Owned Alterations and Utility Installations and Trade Fixtures) immediately prior to such damage or destruction.

  • Severe property damage means substantial physical damage to property, damage to the treatment facilities which would cause them to become inoperable, or substantial and permanent loss of natural resources which can reasonably be expected to occur in the absence of a bypass. Severe property damage does not mean economic loss caused by delays in production.

  • Electrical Losses means all applicable losses, including the following: (a) any transmission or transformation losses between the CAISO revenue meter(s) and the Delivery Point; and (b) the Distribution Loss Factor, if applicable.

  • Environmental Damage means any material injury or damage to persons, living organisms or property or any material pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Damage to Property means physical injury to or destruction of tangible property, including the loss of its use. Tangible property includes the cost of recreating or replacing stocks, bonds, deeds, mortgages, bank deposits and similar instruments, but does not include the value represented by such instruments.

  • Two-year claim limitation means no benefit is payable for any claim submitted two years or more from the date of admission or service provision.

  • Injury means accidental physical bodily harm excluding illness or disease solely and directly caused by external, violent and visible and evident means which is verified and certified by a Medical Practitioner.

  • threat of serious injury means serious injury that is clearly imminent;

  • 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.

  • Compensable injury means an injury by accident arising out of and in the course of hazardous employment which must be established by medical evidence supported by objective medical findings.

  • Substantial bodily injury means "bodily injury which involves (A) a temporary but substantial disfigurement; or (B) a temporary but substantial loss or impairment of the function of any bodily member, organ, or mental faculty." See 18 U.S.C. § 113(b)(1).

  • Accidental Bodily Injury means an Injury sustained as the result of an Accident and independently of all other causes by an outside traumatic event or due to exposure to the elements.

  • Direct Damage has the meaning given to it in clause 26.2;

  • Physical Damage means tangible damage to a Property that materially adversely affects the use, marketability, or value of the Property, whether caused by accident or otherwise, including, but not limited to damage caused by reason of fire, destruction of tangible property, defects in construction, land subsidence, earth movement or slippage, flood, earthquake, war, civil insurrection, or riot; and further, Physical Damage includes Environmental Impairment and the destruction or removal of chattel items that are considered part of the Property (see Section I., KK., [Property]) For purposes of this definition "material" shall mean an amount equal to or greater than $1,500.00 such that the estimated cost to repair a Property is $1,500.00 or more before the exclusion set forth in Section III., G., (Physical Damage Exclusion) would apply to exclude coverage for a Loan. The presence of radon gas, lead paint or asbestos in the dwelling on the Property shall not be deemed to be Physical Damage.

  • Landlord Parties means Landlord and Property Manager and their respective officers, directors, partners, shareholders, members and employees.