Force Majeure Loss definition

Force Majeure Loss means the actual construction costs, determined by the applicable insurance company in assessing a claim for such costs under any policy of insurance, or if such loss is not fully insured in whole or in part under any policy of insurance, then as determined by a nationally recognized independent appraiser selected by the Agent, expended to repair and restore damage caused by a Force Majeure Event with respect to the Property (or portion thereof) to the condition of the Property immediately prior to such Force Majeure Event (but excluding all capitalized costs and other collateral costs and carrying costs whenever accrued).
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Force Majeure Loss means the actual construction costs, determined by the applicable insurance company in assessing a claim for such costs under any policy of insurance, or if such loss is not fully insured in whole or in part under any policy of insurance, then as determined by a nationally recognized independent appraiser selected by the Agent, expended to repair and restore damage caused by a Force Majeure Event with respect to the Property (or portion thereof) to the condition of the Property immediately prior to such Force Majeure Event (but excluding all capitalized costs and other collateral costs and carrying costs whenever accrued). “Foreign Subsidiary” shall mean a Subsidiary that is not organized under the laws of any political subdivision of the United States. “Fourth Amendment” shall mean the Fourth Amendment to Certain Operative Agreements dated as of September 21, 2022 by and among the Lessee, the parties referenced on the signature pages thereof as guarantors, the Lessor Parties and the Agent. “Fourth Amendment Closing Date” shall mean the date as of which all conditions precedent set forth in the Fourth Amendment are satisfied and the Fourth Amendment is effective. “Full Recourse Event of Default” shall mean (a) an Agency Agreement Event of Default arising in whole or in part as a consequence of any fraudulent act or omission of any Construction Agency Person in connection with the negotiation, execution, delivery, consummation and/or performance of any Operative Agreement or any other contractual agreement relating to the Property or the construction or work thereon; (b) an Agency Agreement Event of Default arising in whole or in part as a consequence of the misapplication of any Lessor Advance or any portion thereof or any other funds made available to, or on behalf of, the Construction Agent or any other Construction Agency Person under any Operative Agreement; (c) an Agency Agreement Event of Default arising in whole or in part as a consequence of an Insolvency Event; (d) an occurrence pursuant to which any Construction Agency Person shall willfully breach any of its respective obligations, covenants, representations or warranties under any Operative Agreement, Construction Document or any other contractual agreement or otherwise regarding any law
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Force Majeure Loss the loss incurred in connection with a Force Majeure Event measured by the lower of insurance proceeds paid with respect thereto plus the related deductible amount (if any) or the reduction in Fair Market Sales Value of the Property as a result of the Force Majeure Event as set forth in an Approved Appraisal (provided, that insurance proceeds shall be used in such calculation only to the extent the event giving rise to the loss can be remediated for an amount equal to the resulting insurance proceeds plus the deductible), or (b) any other loss or payment obligation arising out of a Force Majeure Event.
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Examples of Force Majeure Loss in a sentence

  • In case of a Force Majeure Loss, the Custodian shall use its best efforts to prevent further losses and to recover the Lost Allowances.

  • Any Custodial Allowances recovered by ECC in respect of a Force Majeure Loss of Custodial Allowances shall be shared among the Member States proportionally to their share in the reduction applied pursuant to Article 6.3.

  • In case of a Force Majeure Loss of Custodial Allowances, ECC shall use its best efforts to prevent further losses and to recover the Lost Allowances.


More Definitions of Force Majeure Loss

Force Majeure Loss shall have the meaning given to it in Article 7.3 of this Agreement.
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Force Majeure Loss means the actual construction costs (including all Soft Costs) necessary to repair and restore damage caused by a Force Majeure Event with respect to the Site Improvements (or portion thereof) for any Facility or Units of an Equipment Group, as applicable, to the condition of such Site Improvements of a Facility or Units of any Equipment Group immediately prior to such Force Majeure Event (but excluding (i) all Capitalized Costs and other collateral costs and carrying costs whenever accrued, (ii) any amounts which Lessor or Administrative Agent prefunds or prepays or otherwise deposits or pays to the Manufacturer with respect to any Project Agreement, and (iii) provided that Lessor has not terminated the applicable Equipment Contract solely as a result of the condition or event giving rise to a termination of Supervisory Agent's rights under Section 3.6 of the Supervisory Agreement prior to the date Lessor or Assignor assigns its interes ts in such Equipment Contract to any other Person, any other losses or costs arising from such termination pursuant to Section 3.6 of the Supervisory Agreement or from an event or condition which gives rise to or upon which such a termination is based) as determined by the insurance company in assessing any such claim under any policy of insurance, or if such loss is not insured or is less than the deductible under the applicable policy of insurance, as determined by a nationally recognized independent appraiser selected by Administrative Agent.
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Related to Force Majeure Loss

  • Force Majeure means an event beyond the control of the supplier and not involving the supplier’s fault or negligence and not foreseeable. Such events may include, but is not restricted to, acts of the purchaser in its sovereign capacity, wars or revolutions, fires, floods, epidemics, quarantine restrictions and freight embargoes.

  • Force Majeure Event means an event beyond the reasonable control of any party including an outbreak of a serious disease or epidemic, or quarantine or other public health emergencies, fire, flood, earthquake, explosion or other casualty or accident or act of God, or war or other violence, strike, lock-out, labour dispute, acts of any governmental body, war, insurrection, sabotage, embargo, interruption of or delay in transportation, unavailability of or interruption or delay in telecommunications or inability to obtain raw materials, supplies or power.

  • Force Majeure Exception means any failure or delay in the performance of the Fund’s reporting obligation pursuant to Section 2.3 arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents; acts of civil or military authority and governmental action. The Fund shall use commercially reasonable efforts to commence performance of its obligations during any of the foregoing circumstances.

  • Force Majeure Delay means with respect to the Servicer, any cause or event which is beyond the control and not due to the negligence of the Servicer, which delays, prevents or prohibits such Person’s delivery of the reports required to be delivered or the performance of any other duty or obligation of the Servicer under the Indenture, as the case may be, including, without limitation, computer, electrical and mechanical failures, acts of God or the elements and fire; provided, that no such cause or event shall be deemed to be a Force Majeure Delay unless the Servicer shall have given the Indenture Trustee written notice thereof as soon as practicable after the beginning of such delay.

  • Force Majeure Events means acts of war, domestic and/or international terrorism, civil riots or rebellions, quarantines, embargoes and other similar unusual governmental actions, extraordinary elements of nature or acts of God.

  • Force Majeure Period has the meaning specified in Section 13.1.

  • Force Majeure Notice means a notice to be given by the Affected Party to the other party stating that a Force Majeure Event has occurred;

  • Force Majeure Report means a report to be given by the Affected Party to the other party following the giving of a Force Majeure Notice;

  • Force Majeure Delays means any actual delay in the construction of the Tenant Improvements, which is beyond the reasonable control of Landlord or Tenant, as the case may be, as described in Paragraph 33 of the Lease.

  • Relevant Force Majeure Event means a Force Majeure Event in relation to which an Affected Party is claiming relief under this Clause 17; and

  • Unavoidable Delay means an event which delays Closing which is a strike, fire, explosion, flood, act of God, civil insurrection, act of war, act of terrorism or pandemic, plus any period of delay directly caused by the event, which are beyond the reasonable control of the Vendor and are not caused or contributed to by the fault of the Vendor. “Unavoidable Delay Period” means the number of days between the Purchaser’s receipt of written notice of the commencement of the Unavoidable Delay, as required by paragraph 5(b), and the date on which the Unavoidable Delay concludes.

  • Work loss means loss of income from work the injured victim would have performed if the injured victim had not been injured and expenses reasonably incurred by the injured victim in obtaining services in lieu of those the injured victim would have performed for income,

  • Excusable Delay means a delay due to acts of God, governmental restrictions, stays, judgments, orders, decrees, enemy actions, civil commotion, fire, casualty, strikes, work stoppages, shortages of labor or materials or other causes beyond the reasonable control of Borrower, but lack of funds in and of itself shall not be deemed a cause beyond the control of Borrower.

  • Affected Party has the meaning specified in Section 5(b).

  • Unavoidable Delays means delays due to any of the following, and only the following, (provided that such delay is beyond Construction Manager’s reasonable control): war, insurrection, civil commotion, strikes, slowdowns, lock outs, riots, flood, earthquakes, fires, casualties, acts of God, acts of a public enemy, acts of terrorism, epidemics, quarantine restrictions, freight embargoes, lack of transportation, governmental moratoriums, unusually severe or abnormal weather conditions, failure of utilities, or a court order which causes a delay (unless resulting from a wrongful act of Construction Manager). In no event shall the application to Construction Manager of any applicable law, regulation, rule or other governmental requirement constitute an Unavoidable Delay. Contractor shall use reasonable good faith efforts to notify Owner not later than five (5) days after Construction Manager knows of the occurrence of an Unavoidable Delay. An extension of time for an Unavoidable Delay shall only be for the period of the Unavoidable Delay, which period shall commence to run from the time of the commencement of the cause of the Unavoidable Delay.

  • Casualty Loss means, with respect to all or any portion of the Assets, any destruction by fire, storm or other casualty, or any condemnation or taking or threatened condemnation or taking, of all or any portion of the Assets.

  • Event of Force Majeure means one of the following events:

  • Excused Outage means any disruption to or unavailability of Services caused by or due to (i) Scheduled Maintenance,

  • Excusable Delays mean delays arising without the fault or negligence of Lessor and Lessor's subcontractors and suppliers at any tier, and shall include, without limitation: (1) acts of God or of the public enemy, (2) acts of the United States of America in either its sovereign or contractual capacity, (3) acts of another contractor in the performance of a contract with the Government, (4) fires, (5) floods, (6) epidemics, (7) quarantine restrictions, (8) strikes, (9) freight embargoes, (10) unusually severe weather, or (11) delays of subcontractors or suppliers at any tier arising from unforeseeable causes beyond the control and without the fault or negligence of both the Lessor and any such subcontractor or supplier.

  • Unplanned Service Interruption means any Service Interruption where events or circumstances prevent the timely communication of prior warning or notice to the Trader or any affected Customer;

  • Excused Downtime means the number of minutes in the Charging Period that the LSP is unavailable due to:

  • Landlord Delay means a delay in the construction of the Tenant Improvements or Compliance Work resulting directly from the acts or omissions of Landlord, Landlord’s employees, agents, or contractors including, but not limited to (i) failure of Landlord to timely approve or disapprove any plans; (ii) interference by Landlord, its employees, agents or contractors with the completion of the Tenant Improvements or Compliance Work (including the impairment of Tenant’s contractors’ or vendors’ or employees’ access to the Premises for any reason (including due to the presence of Landlord’s contractors, vendors or personnel), failure to provide reasonable access to the Building’s loading docks or other facilities necessary for the construction of the Tenant Improvements or Compliance Work and/or the movement of materials and personnel to the Premises for such purpose) and (iii) delays due to the acts or failures to act of Landlord, its agents or contractors with respect to payment of the Tenant Improvement Allowance. If Tenant contends that a Force Majeure Construction Delay or a Landlord Delay has occurred, Tenant acknowledges and agrees that it has inspected the Building and the Site and in no event shall the physical character or condition of the Building and/or Site existing as of the Effective Date constitute a basis for a Landlord Delay (this agreement does not apply to the failure of any Building component to properly operate). Further, in no event shall any delay of Landlord constitute a Landlord Delay unless such delay results in a full day of delay in the construction of the Tenant Improvements or Compliance Work. Tenant shall notify Landlord in writing (the “Delay Notice”) of the event which constitutes such Force Majeure Construction Delay or Landlord Delay; such notice may be via electronic mail to Landlord’s construction representative described above. Tenant will additionally use reasonable efforts to mitigate the effects of any Force Majeure Construction Delay or Landlord Delay through the re-sequencing or re-scheduling of work, if feasible, but this sentence will not be deemed to require Tenant to incur overtime or after-hours costs unless Landlord agrees in writing to bear such costs. If the actions or inactions or circumstances described in the Delay Notice constitute a Landlord Delay, and are not cured by Landlord within one (1) business day after Landlord’s receipt of the Delay Notice, then a Landlord Delay shall be deemed to have occurred commencing as of the expiration of such one (l)-business day period. The Lease Commencement Date and the Lease Expiration Date will each be delayed on a day for day basis for each day of Force Majeure Construction Delay or Landlord Delay.

  • Outage has the meaning set forth in the CAISO Tariff.

  • Unavoidable means adverse impacts that remain after all appropriate and practicable avoidance and minimization have been achieved.

  • Forced Outage means any unplanned reduction or suspension of the electrical output from the Facility resulting in the unavailability of the Facility, in whole or in part, in response to a mechanical, electrical, or hydraulic control system trip or operator-initiated trip in response to an alarm or equipment malfunction and any other unavailability of the Facility for operation, in whole or in part, for maintenance or repair that is not a scheduled maintenance outage and not the result of Force Majeure.

  • Service Interruption means the cessation of electricity supply to an ICP for a period of 1 minute or longer, other than by reason of De-energisation of that ICP: