Major Loss definition

Major Loss has the meaning set forth in Section 5.10(b).

Major Loss shall have the meaning set forth in Section 8.3.

Major Loss means an aviation-related accident or incident that results in the combined policy insurance providers establishing a reserve in an amount greater than the aggregate combined base premium amount for the year in which such accident or incident occurs, net of contribution from or subrogation against any third parties. Exhibit A-11 Master Facility and Ground Handling Agreement - means that certain Master Facility and Ground Handling Agreement, dated as of January 1, 2001, between Continental and Contractor, in the form attached hereto as Exhibit C (or as otherwise agreed or amended).

Examples of Major Loss in a sentence

• If there is a Minor Loss and insurance coverage as set forth above is not available, Buyer shall have the same rights as if it was a Major Loss.

• If, prior to the Closing Date, any portion of the Property suffers a Minor or Major Loss, Seller shall immediately notify Buyer of that fact, which notice shall include sufficient detail to apprise Buyer of the current status of the Property following such loss.

• Damage or destruction to, or condemnation of, any Real Property that is not a Major Loss.

• In the event of a Major Loss, Buyer may, at its option to be exercised by written notice to Seller within twenty (20) days of Seller’s notice to Buyer of the occurrence thereof, elect to either (i) terminate this Agreement, or (ii) consummate the acquisition of the Property for the full Consideration, subject to the following.

• If there is a Major Loss under a combined placement insurance policy, Continental and Contractor will adjust the premium amounts paid by each party in accordance with the provisions set forth in Paragraph B(7) of Schedule 3.

More Definitions of Major Loss

Major Loss means substantial damage or destruction by fire or other casualty of the EG Facility or any portion thereof, or the taking, requisitioning or sale of the use, occupancy or title to the EG Facility or any substantial portion thereof in, by or on account of any actual or threatened eminent domain proceeding or other action by any person or entity having the power of eminent domain.

Major Loss is defined in Section 5.19(b).

Major Loss means any loss, theft, destruction, damage, casualty, title defect or failure, zoning change, taking, condemnation, seizure, confiscation or requisition of or with respect to the Project or any part thereof that, in the reasonable judgment of the Administrative Agent, in consultation with the Engineer, makes construction or operation of the Project uneconomical or unfeasible.

Major Loss means: (i) loss or damage to the Property or any portion thereof such that the cost of repairing or restoring the applicable Property to a condition substantially identical to that of the Property in question prior to the event of damage would be, in the opinion of a contractor selected by Seller and reasonably approved by Buyer, equal to or greater than 10% of the allocated Purchase Price for such Property, and (ii) any loss due to a condemnation which permanently and materially impairs the current use of the Property.

Major Loss means any damage, destruction or other casualty losses with respect to the assets of the Acquired Companies arising between the date of this Agreement and the Closing that individually or in the aggregate has an estimated repair cost (including the cost of any remediation necessary to restore the affected assets to their condition prior to such casualty) as reasonably determined by Sellers in excess of $98,250,000.00.

Major Loss means any damage, destruction or other casualty losses with respect to or taking of the Purchased Assets, that individually or in the aggregate have an estimated cost to repair or replace or a value of more than three percent (3%) of the Purchase Price.

Major Loss means any Event of Damage or Event of Taking, the restoration of which is reasonably estimated to cost $150,000,000 or more.