Material Casualty Event definition
Material Casualty Event means a Casualty Event with respect to which the cost of the repair and restoration of the Company Real Property, in each case, whether or not covered in whole or in part by insurance, would reasonably be expected to equal or exceed seventy-five million dollars ($75,000,000) in the aggregate.
Material Casualty Event means an insured event resulting from loss, physical destruction, damage or other similar event, but only if (i) such event affects at least fifty percent (50%) of the production capacity of the Refineries taken as a whole, in each case, relevant to the aggregate amount of Product to be delivered to Citi at Included Locations and otherwise, and (ii) such event extends, and the loss, destruction, or damage (however described) cannot be or is not reasonably expected to be able to be repaired or cured within two-hundred forty (240) days from its occurrence.
Material Casualty Event shall have the meaning assigned to such term in Section 3.05(c).
Examples of Material Casualty Event in a sentence
If a Material Casualty Event occurs prior to the Closing Date, the Parties shall have complied with the terms of Section 9.3.
More Definitions of Material Casualty Event
Material Casualty Event means any loss of title or any loss of or damage to or any destruction of, or condemnation or other taking (including by any Governmental Authority) of, any portion of the Plant, if the portion of the Plant subject to such loss, damage, destruction, condemnation or other taking is material to the operation, or income-producing capacity, of the Plant and cannot be repaired, replaced or restored in accordance with applicable laws (including the ▇▇ ▇▇▇▇▇▇▇ County, Illinois, County Code, Title 8 (Zoning Regulations) and other applicable zoning and permitting laws) within 180 days following the occurrence of such loss, damage, destruction, condemnation or other taking (or, if sooner, within 90 days prior to the Applicable Maturity Date).
Material Casualty Event means any Casualty Event affecting (i) all or any portion of any Borrowing Base Project the Net Cash Proceeds of which are equal to or greater than 5% of such Project’s Project Value or (ii) all or any portion of any Project (other than a Borrowing Base Project) of a Restricted Party the Net Cash Proceeds of which are equal to or greater than $500,000.
Material Casualty Event is defined in Section 5.15.
Material Casualty Event any Recovery Event that gives rise to the receipt of Net Cash Proceeds in an amount equal to or in excess of (a) $25,000,000 for any individual Recovery Event or series of related Recovery Events or (b) $50,000,000 when aggregated with all Recovery Events that are excluded as Material Casualty Events as a result of clause (a) of this definition.
Material Casualty Event shall have the meaning assigned thereto in Section 9.2(a).
Material Casualty Event means the occurrence of casualties with respect to Properties following the date hereof, the cost to restore the damage from which would reasonably be expected to exceed five percent (5%) of the Purchase Price.
Material Casualty Event means any physical damage or destruction to all or a portion of the Facility that would materially and adversely affect the capacity or output of the Facility, or Buyer’s ownership or operation of the Facility Assets as of and following the Closing. DB2/ 48370541.18