Event of Total Loss means the occurrence of a Casualty Event affecting all or substantially all of the Project or the assets of the Borrower.
Event of Total Loss means the occurrence of an Event of Loss affecting all or substantially all of the Project or the Property of the Borrower.
Event of Total Loss means, in relation to any Project, any of the following: (a) the complete destruction of such Project, (b) the destruction of such Project such that there remains no substantial remnant thereof which a prudent owner, uninsured, desiring to restore such Project to its original condition would utilize as the basis of such restoration, (c) the destruction of such affected Property irretrievably beyond repair or (d) the destruction of such Project such that the insured may claim the whole amount of any insurance policy covering such Project upon abandoning such Project to the insurance underwriters therefor.
Examples of Event of Total Loss in a sentence
An Event of Taking with respect to all or a material portion of the Project or any Equity Interests in the Borrower occurs, or an Event of Total Loss occurs.
An Event of Taking with respect to all or a material portion of any Plant or any Equity Interests in any Borrower occurs, or an Event of Total Loss occurs.
Lessee and Lessor shall cooperate and consult with each other in all matters pertaining to the settlement or adjustment of any and all claims and demands for damages on account of any Event of Loss or Event of Total Loss or the settlement, compromise or arbitration of any claim with respect to an Event of Loss or Event of Total Loss.
If the Event(s) of Total Loss Amount is less than the then Aggregate Principal Amount, Lessee shall pay to Lessor, within ninety (90) days of the date of termination of this Facility Lease, the difference between the Event of Total Loss Amount and the Aggregate Principal Amount.
In addition, each of the Parties shall take all other steps necessary or requested by the other Party to collect from insurers any insurance proceeds with respect to an Event of Loss or an Event of Total Loss covered by any of the insurance policies required under this Schedule 13.2.
More Definitions of Event of Total Loss
Event of Total Loss means: (a) all or substantially all of the Facility shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the Facility that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the Facility; or (c) all or substantially all of or a material portion of the Facility shall be taken by exercise of a power of eminent domain or similar right or power, or a Governmental Authority shall order that the Facility shall cease to operate permanently.
Event of Total Loss means: (a) all or substantially all of the Unit 1 Facility shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the Unit 1 Facility that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the Unit 1 Facility; or (c) all or substantially all of or a material portion of the Unit 1 Facility has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority or a Governmental Authority shall order that the Unit 1 Facility cease to operate permanently.
Event of Total Loss means, with respect to the New Common Facilities (or any Component): (a) all or substantially all of the New Common Facilities (or any Component), shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the New Common Facilities (or any Component) that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the New Common Facilities (or any Component); or (c) all or substantially all of or a material portion of the New Common Facilities (or any Component) has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority, or a Governmental Authority shall order the New Common Facilities (or any Component) to cease to operate permanently.
Event of Total Loss means the occurrence of a Casualty Event affecting all or substantially all of any Plant with respect to which any Funding has been made or is being requested, the Project or the assets of Pacific Holding or any Borrower that is the owner of a Plant with respect to which any Funding has been made or is being requested.
Event of Total Loss means: (a) all or substantially all of Elm Road Unit 2 shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to Elm Road Unit 2 that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of Elm Road Unit 2; or (c) all or substantially all of or a material portion of Elm Road Unit 2 has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority or a Governmental Authority shall order Xxx Xxxx Xxxx 0 to cease to operate permanently.
Event of Total Loss means: (a) all or substantially all of the Leased Facility or Unit 1, as the case may be, shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the Leased Facility or Unit 1, as the case may be, that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the Leased Facility or Unit 1, as the case may be; or (c) all or substantially all of or a material portion of the Leased Facility or Unit 1, as the case may be, has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority or a Governmental Authority shall order that the Leased Facility or Unit 1, as the case may be, shall cease to operate permanently.
Event of Total Loss means: (a) all or substantially all of the Common Facilities or any Component(s) shall be damaged to the extent of being completely or substantially completely destroyed; (b) any damage to the Common Facilities or any Component(s) that results in an insurance settlement with respect thereto on the basis of a total loss or an agreed constructive or a compromised total loss of the Common Facilities or any Component(s); or (c) all or substantially all of or a material portion of the Common Facilities or any Component(s) has been taken by exercise of eminent domain or a similar right or power by a Governmental Authority or a Governmental Authority shall order the Common Facilities or any Component(s) to cease to operate permanently.