Economically Obsolete definition

Economically Obsolete means when a Bitcoin Miner or PDU has an Implied Bitcoin Mining Revenue that is less than the Agreement Cost of Power for three (3) consecutive months or if a Bitcoin Miner or PDU is not in working order.
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Economically Obsolete is defined as a Project having become uneconomic, obsolete or surplus, or because of the occurrence of any of such events, having become impracticable for Tenant's continued use and occupancy in Tenant's business, as determined in good faith by Tenant and certified by a Responsible Officer of Tenant in writing to Landlord, having exercised reasonable business judgment in making its determination.
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Economically Obsolete means (i) a Project occupied by Tenant which, for a period of the immediately preceding eight quarters, as of the end of any fiscal quarter, has a Rent Coverage Ratio of less than 1.25 to 1, as certified by a Responsible Officer of Tenant in writing to Landlord, having exercised reasonable business judgment in making its determination or (ii) a Project occupied by a sublessee permitted by this Lease pursuant to a sublease under which such sublessee is paying rent equal to less than 125% of the portion of Basic Rent allocable to such Project.
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Examples of Economically Obsolete in a sentence

  • In the case of a Substitution as a result of a Project becoming Economically Obsolete, the Fair Market Value of the Replaced Project shall be equal to the appraised value as of the date hereof (including, if construction is anticipated or being accomplished at such time with respect to a Project, the appraised value of the completed Project assuming that Completion of the Project has occurred).

  • In the case of a Substitution as a result of a Project becoming Economically Obsolete, the Fair Market Value of the Replaced Project shall be equal to the appraised value as of the date hereof (including, if construction (including, without limitation, any renovation required under Section 9.1) is anticipated or being accomplished at such time with respect to such Replaced Project, the appraised value of the completed Project assuming that Completion of the Project has occurred).

Related to Economically Obsolete

  • Technically Evaluated Entity means the company which has been evaluated for the satisfaction of the technical requirement set forth in Clause 2.1.2 hereof;

  • Reasonable and prudent parent standard means the

  • Repair means to restore to proper operating condition a tank, pipe, spill prevention equipment, overfill prevention equipment, corrosion protection equipment, release detection equipment or other UST system component that has caused a release of product from the UST system or has failed to function properly.