Damaged Asset definition

Damaged Asset shall have the meaning set forth in Section 4.4.
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Damaged Asset shall have the meaning set forth in Section 16.13. “Entercom” shall have the meaning set forth in the preamble to this Agreement. “Entercom Parties” shall mean ECC, Emmis Missouri, and Entercom License. “Emmis” shall have the meaning set forth in the preamble to this Agreement. “Emmis Parties” shall mean Emmis, Emmis Radio and Emmis License. “Environmental Laws” shall have the meaning set forth in Section 4.12(a). “ERISA Affiliate” shall have the meaning set forth in Section 4.20. “Excluded Assets” shall have the meaning set forth in Section 1.2. “Excluded Stations” means KSHE(FM), Crestwood, MO (FIN 19523) and KPNT(FM), Collinsville, IL (FIN 56525). “Excluded Liabilities” shall have the meaning set forth in Section 1.4. “FCC” shall have the meaning set forth in the recitals to this Agreement. 43 “FCC Applications” shall mean the application or applications that Sellers and Buyers must file with the FCC requesting its consent to the assignment of the FCC Licenses from Sellers to Buyers. “FCC Consents” shall mean the action or actions by the FCC granting or approving the FCC Applications. “FCC Licenses” shall have the meaning set forth in Section 1.1(a). “Final Order” shall mean a final, non-appealable Order of the FCC or its staff that is no longer subject to administrative or judicial action, review, rehearing or appeal. “Financial Statements” shall have the meaning set forth in Section 4.17. “GAAP” shall mean prevailing generally accepted accounting principles of the United States of America, in effect from time to time, consistently applied. “Governmental Authority” shall mean any: (a) nation, state, county, city, town, village, district, or other recognized jurisdiction of any nature; (b) federal, state, local, municipal, foreign, or other government; (c) governmental or quasi-governmental authority of any nature (including any governmental agency, branch, department, official, or entity and any court or other tribunal); (d) multi-national organization or body; or
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Damaged Asset shall have the meaning set forth in SECTION 6.4.
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Examples of Damaged Asset in a sentence

  • If Seller is unable to repair or replace a Damaged Asset by the date on which the Closing would otherwise occur under this Agreement, then the proceeds of any insurance covering such Damaged Asset shall be assigned to Buyer at Closing, and to the extent such proceeds are not sufficient to cover the reasonable out-of-pocket costs incurred by Buyer in repairing or replacing the Damaged Asset after the Closing, Seller shall reimburse Buyer by an amount equal to the deficiency.

  • In the event of any casualty loss or damage to the Assets prior to the Closing, Sellers shall be responsible for repairing or replacing (as appropriate under the circumstances) any lost or damaged Asset (the “Damaged Asset”) unless such Damaged Asset was obsolete and unnecessary for the continued operation of the Stations consistent with the Sellers’ past practices and the FCC Licenses.

  • If Sellers are unable to repair or replace a material Damaged Asset by the date on which the Closing would otherwise occur under this Agreement, then the Closing Date shall be extended until such repair or replacement is completed.

  • If Seller is unable to repair or replace prior to the First Closing Date a Damaged Asset for which the cost to repair is more than the Threshold Cost or if as a result of the Damaged Asset, the Stations are not operating at full authorized power and in normal working order consistent with operation as of the date hereof, then Seller or Buyer may delay the First Closing for up to sixty (60) days in order to allow Seller to complete such repairs.

  • In the event of any casualty loss or damage to the Entercom Station Assets prior to the Closing, Exchange Party shall be responsible for repairing or replacing (as appropriate under the circumstances) any lost or damaged Exchange Party Station Asset (the “Exchange Party Damaged Asset” ) unless such Exchange Party Damaged Asset was obsolete and unnecessary for the continued operation of the Exchange Party Stations consistent with Exchange Party’s past practices and the Exchange Party FCC Licenses.

  • If the Sellers are unable to repair or replace a Damaged Asset by the Effective Time, the Sellers shall reimburse Buyer for all reasonable out-of-pocket costs incurred by Buyer in repairing or replacing the Damaged Assets or assign to Buyer the applicable portion of any insurance proceeds not previously expended by the Sellers to repair or replace the damaged or destroyed property after the Effective Time.

  • If Exchange Party is unable to repair or replace an Exchange Party Damaged Asset by the date on which the Closing would otherwise occur under this Agreement, then the Closing Date shall be extended until such repair or replacement is completed.

  • In the event of any casualty loss or damage to the Station Assets prior to the LMA Commencement Date, Seller shall be responsible for repairing or replacing (as appropriate under the circumstances) any lost or damaged Station Asset (the “Damaged Asset”) unless such Damaged Asset was obsolete and unnecessary for the continued operation of the Stations consistent with Seller’s past practice and the FCC Licenses.

  • In the event of any casualty loss or damage to the Purchased Assets between the date of this Agreement and the Effective Time, Seller shall use commercially reasonable efforts to repair or replace (as appropriate under the circumstances) any lost or damaged Purchased Asset (the “Damaged Asset”) unless such Damaged Asset was obsolete and unnecessary for the continued operation of the Stations consistent with Seller’s or a High Plains Entity’s (as applicable) past practice and the FCC Licenses.

  • If Seller is unable to repair or replace a Damaged Asset by the LMA Commencement Date or the Effective Time, as applicable, Seller shall reimburse Buyer for all reasonable out-of-pocket costs incurred by Buyer in repairing or replacing the Damaged Assets or assign to Buyer the applicable portion of any insurance proceeds not previously expended by Seller to repair or replace the damaged or destroyed property, after the LMA Commencement Date or the Effective Time, as the case may be.


More Definitions of Damaged Asset

Damaged Asset has the meaning set forth in Section 7.13.
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Damaged Asset shall have the meaning set forth in Section 4.4. “Effective Time” shall have the meaning set forth in Section 1.1. “FCC” shall have the meaning set forth in the Recitals.
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Related to Damaged Asset

  • Managed Assets means the total assets of the Trust (including any assets attributable to money borrowed for investment purposes) minus the sum of the Trust’s accrued liabilities (other than money borrowed for investment purposes).

  • Rebuilt vehicle means a motor vehicle or mobile

  • Reconstructed vehicle means every vehicle of a type required to be registered under this title

  • Articulated vehicle means a vehicle which consists of two or more rigid sections which articulate relative to one another; the passenger compartments of each section intercommunicate so that passengers can move freely between them; the rigid sections are permanently connected so that they can only be separated by an operation involving facilities which are normally only found in a workshop;

  • Charged Assets means the assets and undertaking charged or to be charged to the Lender from time to time pursuant to the Security Documents;