Individual Threshold Amount definition

Individual Threshold Amount means, with respect to (a) each Environmental Loss related to Environmental Contamination associated with a Marathon Refinery or an Ashland Refinery, $1,000,000, (b) all Environmental Losses related to Environmental Contamination associated with any individual retail gasoline service station included in the Transferred Assets, $100,000, (c) each Environmental Loss related to Environmental Contamination associated with a pipeline, pipeline station or pipeline-related facility (other than a pipeline terminal) included in the Transferred Assets, $100,000; provided, however, that such amount shall be reduced to zero for purposes of each of Section 9.1(c)(ii) and Section 9.2(c)(ii) of the Asset Transfer and Contribution Agreement once the aggregate amount of Environmental Losses borne by the Company under each such section with respect to Environmental Contamination associated with pipelines, pipeline stations or pipeline-related facilities (other than pipeline terminals) as a result of application of the Individual Threshold Amount equals $5,000,000, (d) each Environmental Loss related to Environmental Contamination associated with a particular terminal (including a pipeline terminal) included in the Transferred Assets, $100,000, (e) each Environmental Loss related to Environmental Contamination associated with any other property included in the Transferred Assets, $100,000 and (f) each Environmental Violation (including a series of Environmental Violations arising from the same event, condition or set of circumstances), $100,000.
Sample 1Sample 2Sample 3
Individual Threshold Amount has the meaning specified in Section 14.6(d).
Sample 1Sample 2
Individual Threshold Amount means $1,000,000.
Sample 1

Examples of Individual Threshold Amount in a sentence

  • In addition, notice of any casualty, damage, injury or Taking, the restoration of which is estimated by Grantor in good faith to cost more than the Individual Threshold Amount, shall set forth such good faith estimate of the cost of repairing or restoring such casualty, damage, injury or Taking in reasonable detail if the same is then available and, if not, as soon thereafter as it can reasonably be provided.

  • Notwithstanding any provision in this Agreement, including Sections 1.4 and 1.5 above, to the contrary, all reductions from the Escrow Amount permitted pursuant to Sections 1.4 and 1.5 shall be made on a dollar-for-dollar basis regardless of amount and without regard to the Individual Threshold Amount or Aggregate Threshold Amount.

  • For the avoidance of doubt, if the Company reasonably expects an Environmental Loss to be less than or equal to fifty percent (50%) of the applicable Individual Threshold Amount and therefore does not follow the procedures outlined below, but subsequently reasonably expects such Environmental Loss to exceed fifty percent (50%) of the applicable Individual Threshold Amount, it shall thereafter be required to follow all of the procedures outlined below with respect to such Environmental Loss.

  • Whether or not an Event of Default shall have occurred and be continuing, Beneficiary shall have the right to approve, such approval not to be unreasonably withheld, any settlement which might result in any Proceeds in excess of the applicable Individual Threshold Amount and Grantor will deliver or cause to be delivered to Beneficiary all instruments reasonably requested by Beneficiary to permit such approval.

  • Marathon’s obligation to indemnify for (x) Environmental Contamination that is the subject of a Marathon Consent Decree or a Marathon Ongoing Remediation and (y) Marathon Designated UST Environmental Contamination is not subject to any Individual Threshold Amount.

  • Grantor will promptly notify Beneficiary in writing upon obtaining knowledge of (i) the institution of any proceedings relating to any Taking, or (ii) the occurrence of any casualty, damage or injury to, any Property or any portion thereof the restoration of which is estimated by Grantor in good faith to cost more than the Individual Threshold Amount.

  • Except upon the occurrence and during the continuance of an Event of Default, Grantor may settle any insurance claim with respect to Proceeds which does not exceed the applicable Individual Threshold Amount.

  • Ashland’s obligation to indemnify for (x) Environmental Contamination that is the subject of an Ashland Consent Decree or an Ashland Ongoing Remediation and (y) Ashland Designated UST Environmental Contamination is not subject to any Individual Threshold Amount.


More Definitions of Individual Threshold Amount

Individual Threshold Amount shall have the meaning set forth in Section 7.4 hereof.
Sample 1
Individual Threshold Amount means, with respect to each Property, the greater of $250,000 or ten percent (10%) of the Allocated Loan Amount therefor.
Sample 1
Individual Threshold Amount has the meaning set forth in SECTION 5.2(g)(i).
Sample 1
Individual Threshold Amount means, with respect to the Property --------------------------- described on Schedule 1 attached hereto as the [Xxxxxx Airport] Property, ---------- $1,000,000, and with respect to each other Property, the greater of $250,000 and five percent (5%) of the Allocated Loan Amount therefor.
Sample 1

Related to Individual Threshold Amount

  • Threshold Amount means $5,000,000.

  • Dividend Threshold Amount has the meaning set forth in Section 5.04(a).

  • Restoration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

  • Indemnity Threshold has the meaning set forth in Section 9.3.

  • Alteration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

  • Withheld Amount means any amount required to be withheld by the Partnership to pay over to any taxing authority as a result of any allocation or distribution of income to a Partner.

  • Threshold Appreciation Price has the meaning specified in Section 5.1.

  • Indemnification Threshold has the meaning set forth in Section 11.5.

  • Micro-purchase threshold means the dollar amount at or below which a district may purchase property or services using micro-pur- chase procedures. Generally, the micro-purchase threshold for pro- curement activities administered under federal awards is not to ex- ceed the amount set by the Federal Acquisition Regulations (FAR) at 48 C.F.R. Part 2, Subpart 2.1 [see below], unless a higher threshold is requested by the district and approved by the cogni- zant agency for indirect costs.

  • Bid threshold means the dollar amount set in N.J.S.A. 18A:18A-3, above which a Board shall advertise for and receive sealed bids in accordance with procedures set forth in N.J.S.A. 18A:18A-1 et seq.

  • Five Percent Owner means an Employee who, with respect to a Participating Company, is described in section 423(b)(3) of the Code.

  • Threshold Percentage means 15%.

  • Below Threshold Asset Sale Proceeds shall have the meaning assigned to such term in the definition of the term “Cumulative Credit.”

  • Stated Threshold means total losses under the shared loss agreements in the amount of $41,000,000.00.

  • Threshold means with respect to Party B: infinity.

  • Terrorism Cap Amount is the specified percentage (which is at least equal to 200%) of the amount of the insurance premium that is payable at such time in respect of the property and business interruption/rental loss insurance required under the related Loan Documents (without giving effect to the cost of terrorism and earthquake components of such casualty and business interruption/rental loss insurance).

  • Materiality Threshold means limits for related party transactions beyond which the shareholders' approval will be required as specified in Companies Act, 2013 and rules thereof and amendments thereto.

  • Ownership Threshold means, with respect to any Person, Beneficial Ownership of the greater of (A) 15% of the Common Shares at any time outstanding or (B) the percentage of the outstanding Common Shares Beneficially Owned by such Person on the date of this Rights Agreement, plus in the case of this clause (B) 1% of the Common Shares outstanding on such date.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Initial Bankruptcy Loss Coverage Amount $226,715.

  • Fifty-Percent or Greater Interest shall have the meaning ascribed to such term for purposes of Sections 355(d) and (e) of the Code.

  • Deductible Amount means, with respect to any Insuring Agreement, the amount set forth under the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Debt Amount means all accrued and unpaid interest and any “make whole” payments or breakage fees (less any breakage benefits) which Project Co is obligated to pay to Lender pursuant to the Lending Agreements, together with the outstanding principal amount of debt funded under the Lending Agreements.

  • Annual Specified Amount means $400,000 escalated on each Anniversary Date by the percentage by which the CPI last published prior to such Anniversary Date has increased over the CPI last published prior to the grant of the Burswood Casino Licence.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and