Immaterial Loss definition

Immaterial Loss means a Casualty or Condemnation where the Loss Proceeds or the Condemnation Award, respectively, is less than $500,000.
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Immaterial Loss means a Casualty or Condemnation resulting in a loss of ten thousand dollars ($10,000) or less.
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Immaterial Loss means a Condemnation that does not significantly adversely affect the use of the Premises as a whole.
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Examples of Immaterial Loss in a sentence

  • If an Immaterial Loss occurs, then the Operator shall receive any Condemnation Award in trust to be applied first to Restoration.

  • If an Immaterial Loss occurs, then Tenant or those claiming under Tenant shall receive any Condemnation Award in trust to be applied first to Restoration without affecting the obligations of Tenant or those claiming under Tenant in any way.

  • Any Condemnation Award remaining after Restoration shall be applied in the same manner as a Condemnation Award from an Immaterial Loss.

  • If a Loss is not an Immaterial Loss, then Depository shall retain the Loss Proceeds and pay them over to Tenant from time to time, upon the following terms, for Restoration.

  • If the Restoration Cost equals or exceeds the Immaterial Loss Threshold, then the Insurance Proceeds shall be applied to Restoration, but only if the conditions set forth below are satisfied or waived by Lender.

  • If a Loss is an Immaterial Loss, then (subject to disbursement of Loss Proceeds to Tenant to Restore) Landlord shall release all such Loss Proceeds to Tenant and/or any Subtenant, as applicable, to be applied first to Tenant's and/or any Subtenant's Restoration, in accordance with this Article 17.

  • Notwithstanding the foregoing provisions of this paragraph, provided no Event of Default then exists, Borrower is authorized to negotiate, compromise and settle in a commercially reasonable manner, without participation by Lender, Condemnation Proceeds of up to the Immaterial Loss Threshold in connection with any Taking.

  • Property Insurance Proceeds shall be disbursed: (a) in the case of an Immaterial Loss, to the Operator, to be held in trust to be applied first for Restoration; and (b) in the case of any other Casualty, to the City, to be released in installments for Restoration provided that Restoration Funds are sufficient to Restore.

  • If a Loss is not an Immaterial Loss, then Landlord shall retain such Loss Proceeds and pay them over to Tenant from time to time, upon the following terms, for Restoration in accordance with this Article 17.

  • The Property Insurance Proceeds shall be disbursed: (a) in the case of an Immaterial Loss, to Lessee, to be held in trust to be applied first for Restoration; and (b) in the case of any other Casualty, to Depository or the first-position Leasehold Mortgagee , if required by such Leasehold Mortgagee, to be released in installments for Restoration.


More Definitions of Immaterial Loss

Immaterial Loss means a Casualty or Condemnation whose estimated cost to Restore or value does not exceed $____________ times the CPI Adjustment Factor.
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Immaterial Loss means any Casualty or Condemnation if: (a) Restoration is reasonably feasible; and (b) the cost to Restore would not exceed $500,000 times the CPI Adjustment Factor.
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Immaterial Loss means a Casualty or Condemnation that is not a Substantial Casualty or Substantial Condemnation, respectively.
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Immaterial Loss means a loss or taking costing or valued at less than One Million Two Hundred and Fifty Thousand Dollars ($1,250,000) and which will not permit Starbucks or TD Bank to terminate its Lease and a “Material Loss” shall mean a loss or taking costing or valued at One Million Two Hundred and Fifty Thousand Dollars ($1,250,000) or more or which will permit Starbucks or TD Bank to terminate its Lease, unless such termination right shall be waived. The determination by a contractor or third party mutually agreed to by Seller and Purchaser in good faith within ten (10) Business Days of such loss or taking shall be final as to whether a loss or taking is an Immaterial Loss or a Material Loss.
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Related to Immaterial Loss

  • Material Loss means an uninsured:

  • Immaterial Foreign Subsidiary means any Foreign Subsidiary of the Borrower that is not a Material Foreign Subsidiary.

  • Immaterial Title Deficiencies means minor defects or deficiencies in title which do not diminish more than 2% of the aggregate value of the Oil and Gas Properties evaluated in the Reserve Report used in the most recent determination of the Borrowing Base.

  • Immaterial Subsidiary means any Subsidiary that is not a Material Subsidiary.

  • Immaterial Domestic Subsidiary means any Domestic Subsidiary that is not a Material Domestic Subsidiary.

  • Immaterial Subsidiaries means those Subsidiaries of the Borrower that are “designated” as Immaterial Subsidiaries by the Borrower from time to time (it being understood that the Borrower may at any time change any such designation); provided that such designated Immaterial Subsidiaries shall collectively meet all of the following criteria as of the date of the most recent balance sheet required to be delivered pursuant to Section 5.01: (a) the aggregate assets of such Subsidiaries and their Subsidiaries (on a consolidated basis) as of such date do not exceed an amount equal to 3% of the consolidated assets of the Borrower and its Subsidiaries as of such date; and (b) the aggregate revenues of such Subsidiaries and their Subsidiaries (on a consolidated basis) for the fiscal quarter ending on such date do not exceed an amount equal to 3% of the consolidated revenues of the Borrower and its Subsidiaries for such period.

  • Property Loss Event means any loss of or damage to property of Group or any Subsidiary thereof that results in the receipt by such Person of proceeds of insurance in excess of $2,000,000 or any taking of property of Group or any Subsidiary thereof that results in the receipt by such Person of a compensation payment in respect thereof in excess of $2,000,000.

  • Environmental Loss means any loss, cost, damage, liability, deficiency, fine, penalty or expense (including, without limitation, reasonable attorneys' fees, engineering and other professional or expert fees), investigation, removal, cleanup and remedial costs (voluntarily or involuntarily incurred) and damages to, loss of the use of or decrease in value of the Equipment arising out of or related to any Adverse Environmental Condition.

  • immaterial financial interest means any financial interest with a determinable monetary value, the aggregate of which does not exceed R1 000 in any calendar year from the same third party in that calendar year received by –

  • Material Foreign Subsidiary means any Foreign Subsidiary that is a Material Subsidiary.

  • Material Damage and “Materially damaged” means damage (w) resulting in the Property not complying with all legal requirements applicable to the Property, (x) reasonably exceeding $300,000 or (y) that entitles any tenant of the Property to terminate its Lease, or (z) which, in Buyer’s or Seller’s reasonable estimation, will take longer than 120 days to repair.

  • Partial Loss means any Physical Damage loss which is not a Total Loss.

  • 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 Loss means, with respect to any Property, any of the following: (a) any loss, destruction or damage of such Property or (b) any condemnation, seizure, or taking, by exercise of the power of eminent domain or otherwise, of such Property, or confiscation of such Property or the requisition of the use of such Property.

  • Warranty Event As to any Asset, the discovery that as of the related Cut-Off Date or Funding Date there had existed a breach of any representation or warranty relating to such Asset and the continuance of such breach through any applicable determination date or beyond any applicable cure period.

  • Environmental Losses means all costs and expenses of any kind, damages, including foreseeable and unforeseeable consequential damages, fines and penalties incurred in connection with any violation of and compliance with Environmental Requirements and all losses of any kind attributable to the diminution of value, loss of use or adverse effects on marketability or use of any portion of the Premises or Property.

  • Material Disposition means any Disposition of property or series of related Dispositions of property that yields gross proceeds to the Borrower or any of its Subsidiaries in excess of $1,000,000.

  • Loss Event means (A) an annual pre-tax loss at GS Inc. or (B) annual negative revenues in one or more reporting segments as disclosed in the Firm’s Form 10-K other than the Investing & Lending segment, or annual negative revenues in the Investing & Lending segment of $5 billion or more, provided in either case that you are employed in a business within such reporting segment.

  • Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Material Casualty has the meaning set forth in Section 14.1.1.

  • Excluded Asset Disposition means, with respect to any Consolidated Party, any Asset Disposition consisting of (i) the sale, lease, license, transfer or other disposition of inventory or other assets in the ordinary course of such Consolidated Party's business, (ii) the sale, lease, license, transfer or other disposition of Property no longer used or useful in the conduct of such Consolidated Party's business, (iii) any Involuntary Disposition by such Consolidated Party, (iv) any sale, lease, license, transfer or other disposition of Property by such Consolidated Party to any Credit Party, PROVIDED that the Credit Parties shall cause to be executed and delivered such documents, instruments and certificates as the Agent may reasonably request so as to cause the Credit Parties to be in compliance with the terms of Section 7.12 after giving effect to such transaction, (v) any portion of an Asset Disposition by such Consolidated Party constituting a Permitted Investment, (vi) if such Consolidated Party is not a Credit Party, any sale, lease, license, transfer or other disposition of Property by such Consolidated Party to any Consolidated Party that is not a Credit Party, (vii) the sale or disposition of Cash Equivalents for fair market value, (viii) any sale of accounts receivable in connection with the compromise thereof, (ix) the assignment of past due accounts for collection or (x) the licensing of Intellectual Property to third Persons on customary terms as determined by the licensor's board of directors in good faith; PROVIDED, HOWEVER, that the term "Excluded Asset Disposition" shall not include any Asset Disposition to the extent of the portion of the proceeds of such Asset Disposition that would be required under any Junior Financing Documentation to be applied to permanently retire Indebtedness of the Consolidated Parties.

  • Consequential Loss means indirect or consequential loss or damage such as, but not limited to, loss of contract, bargain, expectation, opportunity, profit, production, revenue, anticipated cost reduction or interest payable howsoever caused, arising out of or in connection with this Contract.

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Casualty shall have the meaning set forth in Section 6.2 hereof.

  • Total Loss means, in relation to a Ship:

  • Material Condemnation has the meaning set forth in Section 14.2.1.