Diminution definition

Diminution means the petroleum released into the environment prior to its intended beneficial use.

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Diminution means, in reference to ground or surface water supplies receiving ground water, any impairment of water quantity which makes the water unsuitable for a specific use.

Diminution shall have the same meaning as in the Employment Agreement.

Examples of Diminution in a sentence

In the event of a Diminution in Value of any Phase of the Project, the payment in lieu of taxes with regard to that Phase of the Project shall be reduced in the same proportion as the amount of such Diminution in Value bears to the original fair market value of that Phase of the Project as determined pursuant to Step 1 of Section 4.2 hereof.
If Landlord reasonably believes the Alterations have caused a FMV Diminution or objects to any proposed Alterations, Landlord must notify Master Tenant in writing within thirty (30) days after completion of such Alterations or notification of proposed Alterations.
If FMV Diminution is conclusively established with respect to Alterations that were not approved by Landlord or otherwise permitted under the initial Approved Sublease, then Master Tenant shall pay Landlord the amount of the FMV Diminution within sixty (60) days of receipt of the final written Appraisal(s) establishing such FMV Diminution.
If the Appraisal(s) conclusively establishes no FMV Diminution will be caused by proposed Alterations, the expenses of the Appraisal(s) will be borne by Landlord and withheld from Rent to the Landlord and such proposed Alterations are deemed permitted and approved.
Any FMV Diminution must be conclusively determined by an appraisal (“Appraisal”) conducted by an independent third party appraiser mutually agreed upon by the parties, which Appraisal shall not take into account any diminution in FMV attributable to a change in market conditions.
In the event of a Diminution in Value of any Phase of the Project, the Fee Payment with regard to that Phase of the Project shall be reduced in the same proportion as the amount of such Diminution in Value bears to the original fair market value of that Phase of the Project as determined pursuant to Step 1 of Section 4.1 hereof.
The Executive must deliver written notice of a Diminution to the Board of Directors of the Company and permit the Company thirty (30) days to cure such Diminution.
Subsequent to a termination without Cause of the Executive’s employment, the receipt of a notice of Diminution of Duties by the Board of Directors, or a Change in Control, the Company shall be prohibited from terminating the Executive for Cause.
The Diminution Claim payment and the Committee Settlement Payment may be satisfied by means of a net $4 million payment from the Liquidation Trust to the Post-Consummation Trust in satisfaction of both the Diminution Claim and the Committee Settlement Payment.
The Liquidation Trust is obligated under the Plan to make a payment in the amount of $10 million on the Effective Date to the Post- Consummation Trust in satisfaction of the Diminution Claim.

More Definitions of Diminution

Diminution. (as defined in Section 8c); provided that Executive will be required to give the Company at least 30 days advance written notice.

Diminution means, in respect of a Reference Obligation in respect of which a Credit Event has occurred, any reduction, cancellation, voiding or discharge of some or all of the principal or interest payable at its maturity, repayment or due date (or dates) with the agreement or approval of the relevant Servicer and in accordance with the Procedures, other than in accordance with the applicable terms of such Reference Obligation in effect on the date on which the relevant Credit Event occurred.

Diminution means any diminution in value of the Prepetition Secured Lenders' and Prepetition Agent's interests in the Prepetition Collateral resulting from (a) the use of the Cash Collateral and the use, sale, lease, other disposition and depreciation of the Prepetition Collateral (except the application of such Collateral to the repayment of Prepetition Debt other than Adequate Protection Obligations), (b) the priming of the Prepetition Liens on the Primed Prepetition Collateral by the Primary DIP Facility Liens and the Secondary DIP Facility Liens, (c) the priming of the Prepetition Liens on the Prepetition Collateral by the Carve-Out and (d) the imposition of the automatic stay pursuant to Section 362 of the Bankruptcy Code.

Diminution a Structural Change which results in: 2.2.40.1 HDPs Beneficially Owning in aggregate less than 26% of the Business; or, if at the applicable Base Date, HDPs already Beneficially Own In aggregate less than 26% of the Business, any further reduction in HDP Beneficial Ownership of the Business; and/or 2.2.40.2 HDPs no longer Controlling Holdco; provided that where a Structural Change prior to the applicable Base Date has already resulted in HDPs no longer Controlling Holdco, this paragraph 2.2.40.2 shall have no further application; and/or 2.2.40.3 the majority of the Directors no longer being HDPs; provided that where a Structural Change prior to the applicable Base Date has already resulted in the majority of the Directors no longer being HDPs, this paragraph 2.2.40.3 shall have no further application; and/or 2.2.40.4 to the extent that the Ultimate Control Person (as defined in the definition of “Control”) of Holdco is a company, HDPs no longer constituting the majority of directors on the board of directors of such company; provided that where a Structural Change prior to the applicable Base Date has already resulted in HDPs no longer constituting the majority of the board of directors of such company, this paragraph 2.2.40.4 shall have no further application.