Economic Injury definition

Economic Injury means financial injury, other than “bodily injury”, “property damage” or “personal or advertising injury”, suffered by a person or organization and caused by a “wrongful act”.
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Economic Injury means any action which, in the judgment of a reasonable business person, with knowledge of the then available facts, would create a reasonable likelihood that the action will deprive the Company of an otherwise reasonably expected material economic benefit or inflict an otherwise reasonably avoidable material economic injury upon the Company or any Member's economic interest in the Company. In the event. that either Member makes a proposal as to a unanimous Approval Major Decision, and the other Member fails to agree thereto, such proposal shall not be implemented, and there shall be no means (through arbitration or otherwise) for such proposal to be implemented. Without limitation of the foregoing or the provisions of Subsection 5. 1 C(l) above, the Members acknowledge that there shall be no means (through arbitration or otherwise) for the implementation of any proposal by either Member to sell the Business Property if any other Member fails to agree thereto (each Member recognizing that its sole means of realizing upon the value of its interest in the Company is through a sale of its interest pursuant to the provisions of Article VI below).
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Examples of Economic Injury in a sentence

  • Refer to SOP 50 30 9, Appendix 7 for further information.• Business activity not eligible.• Economic injury not substantiated.

  • Economic injury may be reduced working capital, increased expenses, cash shortage due to frozen inventory or receivables, accelerated debt, etc.

  • You will also be advised in writing of all loan decisions. SBA will prepare and send your Loan Closing Documents to you for your signature. Once we receive your signed Loan Closing Documents, an initial disbursement will be made to you within 5 days: Physical damage: $25,000 Economic injury (working capital): $25,000 (In addition to the Physical damage disbursement) A case manager will be assigned to work with you to help you meet all loan conditions.

  • There are two assistance programs:• Physical damage loans that cover repairs and replacement of physical assets damaged in a declared disaster that are not covered by insurance.• Economic injury loans to cover small business operating expenses after a declared disaster.

  • Economic injury can result from being given a different, less valuable product than the one that was promised and paid for, and such an injury meets Article III’s injury-in-fact requirement.

  • Economic injury, on the other hand, occurs at “the location of the original event which caused the injury, not the location where the resultant damages are subsequently felt by the plaintiff.” Helmer v.

  • Economic injury due to COVID-19 constitutes as a “special need” and establishes eligibility without reference to other criteria.

  • Economic injury is sufficient to give standing to institute an action under the Act.

  • Economic injury may be reduced working capital, increased expenses, cash shortage due to frozen inventory or receivables, accelerated debt, etc.Economic injury loan proceeds can only be used for working capital necessary to carry the concern until resumption of normal operations and for expenditures necessary to alleviate the specific economic injury.

  • Economic injury is also considered.• The Amount of Substantiation that Experts in the Field Believe is Reasonable.

Related to Economic Injury

  • Catastrophic illness or injury means one of the following:

  • Traumatic brain injury means an acquired injury to the brain caused by an external physical force, resulting in total or partial functional disability or psychosocial impairment, or both, that adversely affects a child’s educational performance. Traumatic brain injury applies to open or closed head injuries resulting in impairments in one or more areas, such as cognition; lan- guage; memory; attention; reasoning; abstract thinking; judgment; problem- solving; sensory, perceptual, and motor abilities; psychosocial behavior; phys- ical functions; information processing; and speech. Traumatic brain injury does not apply to brain injuries that are congenital or degenerative, or to brain injuries induced by birth trauma.

  • Brain injury means clinically evident damage to the brain resulting directly or indirectly from trauma, infection, anoxia, vascular lesions or tumor of the brain, not primarily related to degenerative or aging processes, which temporarily or permanently impairs a person’s physical, cognitive, or behavioral functions. The person must have a diagnosis from the following list:

  • 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.

  • Serious injury means a significant overall impairment in the position of a domestic industry;

  • Bodily injury means bodily injury, sickness or disease sustained by a person, including death resulting from any of these at any time.

  • 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.

  • 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.

  • Advertising injury means injury arising out of one or more of the following offenses:

  • 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).

  • Personal Injury means injury, other than "bodily injury", arising out of one or more of the following offenses:

  • 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.

  • Serious physical injury means physical injury which creates a substantial risk of death or which causes serious and prolonged disfigurement, prolonged impairment of health, or prolonged loss or impairment of the function of any bodily member or organ;

  • Economic loss means any of the following types of pecuniary harm:

  • Serious injury or illness means an Injury or Illness incurred in the line of duty that may render the member of the Armed Forces medically unfit to perform his or her military duties.

  • 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.

  • Physical injury means substantial physical pain or any impairment of physical condition;

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

  • 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.

  • Economic damages means objectively verifiable monetary losses, including medical expenses, loss of earnings, burial costs, loss of use of property, cost of replacement or repair, cost of obtaining substitute domestic services, loss of employment, and loss of business or employment opportunities.

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.

  • Materially Damaged means damage which, in Seller's reasonable estimation, exceeds $500,000.00 to repair or which, in Seller's reasonable estimation, will take longer than ninety (90) days to repair.

  • Public liability means any legal liability arising out of or resulting from a nuclear in- cident or precautionary evacuation (includ- ing all reasonable additional costs incurred by a State, or a political subdivision of a State, in the course of responding to a nu- clear incident or precautionary evacuation), except (1) claims under State or Federal Workmen’s Compensation Acts of employees of persons indemnified who are employed (a) at the location or, if the nuclear incident oc- curs in the course of transportation of the radioactive material, on the transporting ve- hicle, and (b) in connection with the licens- ee’s possession, use or transfer of the radio- active material; (2) claims arising out of an act of war; and (3) claims for loss of, or dam- age to, or loss of use of (a) property which is located at the location and used in connec- tion with the licensee’s possession, use, or transfer of the radioactive material, and (b) if the nuclear incident occurs in the course of transportation of the radioactive mate- rial, the transporting vehicle, containers used in such transportation, and the radio- active material.

  • 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.

  • Accidental Injury means an Injury sustained as a result of an external force or forces that is/are sudden, direct and unforeseen and is/are exact as to time and place. A hernia of any kind will only be considered as an Illness.

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