Damages Event definition

Damages Event means the receipt by the Parent, Holdings, the Borrower or any Affiliate of the Parent of any payment made by Qwest Corp., Qwest or any Affiliate thereof (i) constituting liquidated damages or other damages paid pursuant to, or as a result of the breach or asserted breach of obligations under, any Core Qwest Agreement or (ii) representing amounts paid in settlement or compromise of claims that Qwest Corp., Qwest or any Affiliate thereof has breached its obligations under any Core Qwest Agreement.

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Damages Event has the meaning ascribed thereto in Section 7.2;

Damages Event means the occurrence at any time of the following events:

Examples of Damages Event in a sentence

• Such payments shall begin to be made to Purchasers within sixty (60) days of receipt by Sellers from Purchasers of written notice of the existence of a Liquidated Damages Event, and thereafter shall be made within thirty (30) days of the end of any month in which a Liquidated Damages Event exists.

• Following a Penn West Damages Event but prior to payment of the applicable Penn West Termination Fee, Petrofund shall be deemed to hold such applicable Penn West Termination Fee in trust for Penn West.

• Following a Petrofund Damages Event but prior to payment of the applicable Petrofund Termination Fee, Penn West shall be deemed to hold such applicable Petrofund Termination Fee in trust for Petrofund.

• Following the occurrence of a Comamtech Damages Event, but prior to payment of the Termination Fee, Comamtech shall be deemed to hold such applicable payment in trust for the Corporation.

• Lost future profits shall be payable with respect to all of Franchisee's Offices, provided that in the case of clauses (iii) and (iv) of the definition of Liquidated Damages Event, lost future profits shall only be payable with respect to the Offices closed or deidentified in violation of Section 7C (including the 20 permitted to be closed or deidentified before clause (iv) becomes effective).

• Following a Purchaser Damages Event, but prior to payment of the Purchaser Termination Fee, Western shall be deemed to hold such applicable payment in trust for Purchaser.

• Following a Viking Damages Event but prior to payment of the applicable Viking Termination Fee, Harvest shall be deemed to hold such applicable Viking Termination Fee in trust for Viking.

• For purposes of this Agreement "lost future profits" for an office shall consist of all royalty fees which Franchisee would have paid to Franchisor with respect to such office from the date of the Liquidated Damages Event through the earlier of the end of the then-current term of this Agreement, had there been no Liquidated Damages Event, and 25 years from the date of the Liquidated Damages Event.

• Following a PhosCan Damages Event, and after such event but prior to payment of such amount, Petrus shall be deemed to hold such funds in trust for PhosCan.

• For the avoidance of doubt, the Trustee shall not be under any obligation with respect to a Liquidated Damages Event unless it receives written notice of the occurrence of such Liquidated Damages Event at its Corporate Trust Office (whether pursuant to Section 6.3(e)(iii) of the Purchase and Sale Agreement or otherwise).

More Definitions of Damages Event

Damages Event means any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation or similar proceeding of, any property or asset of the Borrower or any Subsidiary, but only to the extent that the Net Proceeds therefrom have not been applied to repair, restore or replace such property or asset within 270 days after receipt of such Net Proceeds or a written contract or agreement has not been entered into during such 270 day period to so apply such Net Proceeds (with the portion of any such Net Proceeds that has not been so applied by the end of the term of such contract or agreement being subject to the prepayment requirements set forth in Section 2.11(c)).

Damages Event has the meaning ascribed thereto in Section 7.2; (uu) "deliberate" breach of any representation, warranty or covenant by Trican or Canyon means that, as applicable, an executive officer of Trican or Canyon (a) had actual knowledge that a representation or warranty of the Party to which he served as an executive officer was materially false when made or (b) as to a covenant herein, directed or allowed Trican or Canyon, each as applicable, to take an action, fail to take an action or permit an action to be taken or occur that he knew at such time constituted or would result in a material breach of a covenant herein by such Party;