Major Replacement definition

Major Replacement means any structural repair or structural replacement which will cost more than $750,000.
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Major Replacement means the repair and replacement of any portion of the Project that becomes subject to a Major Loss and for which each of following conditions has been satisfied: (i) the Insurance Consultant has conducted a review of the available proceeds of insurance with respect to such Loss, including the amount and duration for which delay in start-up insurance proceeds or business interruption insurance proceeds will be available during the
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Major Replacement means work will requires a cost of replacement parts in excess of $500.00.
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Examples of Major Replacement in a sentence

  • Upon such approval, Landlord will cause such Major Replacement to be performed.

  • Other than Major Replacement Expenditures, Tenant will pay the cost for all HVAC service provided to a Single User Building, including the cost of maintenance, repair and replacement of the equipment, ducting and other connections providing the same, subject to Sections 5.7 and 5.8.

  • Tenant will provide notice to Landlord if a Major Replacement is required.

  • Tenant will provide notice to Landlord if Tenant determines, in its reasonable business judgement, that a Major Replacement is required, and Landlord will have the right to review and inspect the equipment or the portion of the Building requiring the Major Replacement and to approve the Major Replacement, which approval will not be unreasonably withheld, conditioned, or delayed.

  • Notwithstanding anything to the contrary contained in this Lease, Landlord will be permitted to include in Costs annual installments for the amortization of each Major Replacement Expenditure over the useful life of the applicable Major Replacement.

  • Upon Landlord's approval of a Major Replacement, Landlord will cause such Major Replacement to be performed.

  • Other than Major Replacement Expenditures, Tenant will pay the cost for any elevators located in a Single User Building, including the cost of maintenance, repair and replacement of the equipment, ducting and other connections providing the same, subject to Sections 5.7 and 5.8.

  • Either (i) a Loss shall have occurred and the amount of such Loss uncompensated by insurance shall exceed $2,000,000, (ii) a Major Loss shall have occurred for which the Borrower has undertaken to accomplish a Major Replacement and the Major Replacement Construction Requirements shall not have been satisfied by the Major Replacement Construction Deadline, or (iii) a Total Loss shall have occurred.

  • Throughout the Term, other than Major Replacement Expenditures, Tenant will be solely responsible for all costs and expenses incurred in updating, operating, maintaining, repairing and replacing the roofs of the Single User Buildings, subject to Sections 5.7 and 5.8.

  • If Landlord performs a Capital Major Replacement, Tenant shall reimburse Landlord for Tenant's Share of the cost of such Capital Major Replacement, within thirty (30) days following completion of the same.


More Definitions of Major Replacement

Major Replacement means changes to a dam structure that has a measurable effect on the storage behind the dam or flows from the dam. At a minimum, a major replacement involves any change in the outlet structure, impoundment structure, or operational conditions that affects downstream flows or upstream impoundment conditions.
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Major Replacement for dams or diversions means any alteration to the dam or diversion that allows for the consideration of fish passage that considers:
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Major Replacement means the replacement of a structural item, system or component costing $50,000.00 or more. If Landlord performs a Major Replacement pursuant to this Section, Tenant shall pay to Landlord, as an addition to the rent, an amount which will amortize the cost of the Major Replacement together with interest at the rate of 9% per annum in 120 equal monthly installments. The first monthly installment shall be due and payable on the first day of the month following the date that the Major Replacement is completed. Installments in the same amount shall continue to be due and payable on the first day of each month for the remainder of the term of this Lease, including any option term exercised by Tenant, until the cost of the Major Replacement has been fully reimbursed. However, if the term of this Lease expires before the cost of the Major Replacement is fully reimbursed, Tenant shall not be responsible for the unamortized balance remaining at the expiration of this Lease.
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Major Replacement means repairs that will be require a system to be shut down for more than four (4) hours or cost work and replacement parts is more than $200.00.
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Related to Major Replacement

  • Major repair means either: (1) for a dispersal system, repairs required for an OWTS dispersal system due to surfacing wastewater effluent from the dispersal field and/or wastewater backed up into plumbing fixtures because the dispersal system is not able to percolate the design flow of wastewater associated with the structure served, or (2) for a septic tank, repairs required to the tank for a compartment baffle failure or tank structural integrity failure such that either wastewater is exfiltrating or groundwater is infiltrating.

  • Benchmark Replacement means, with respect to any Benchmark Transition Event, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date:

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

  • Benchmark Replacement Date means the earliest to occur of the following events with respect to the then-current Benchmark:

  • Benchmark Replacement Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

  • Benchmark Replacement Conforming Changes means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

  • Replacement Facility means 1 of the following: