Material Casualty Loss has the meaning provided such term in Section 6.8.
Material Casualty Loss is defined in Section 7.11.
Material Casualty Loss has the meaning set forth in Section 7.2.
Examples of Material Casualty Loss in a sentence
If a Casualty Loss occurs and such Casualty Loss would reasonably be expected to have a Material Adverse Effect (a “Material Casualty Loss”), PBF Energy shall have the right to extend the Closing Date for up to 45 days for the purpose of repairing or replacing the assets destroyed or damaged by the Material Casualty Loss.
The costs to repair or replace the assets destroyed or damaged by the Material Casualty Loss shall be borne by PBF Energy.
If a Casualty Loss occurs and such Casualty Loss would reasonably be expected to have a Material Adverse Effect (a “Material Casualty Loss”), MLP shall have the right to extend the Closing Date for up to forty-five (45) days for the purpose of repairing or replacing the Assets destroyed or damaged by the Material Casualty Loss.
With respect to SAND HILLS and SOUTHERN HILLS, the costs to repair or replace the Assets destroyed or damaged by the Material Casualty Loss shall be shared among the members pursuant to the Sand Hills LLC Agreement or the Southern Hills LLC Agreement as applicable.
With respect to the JV, the costs to repair or replace the Assets destroyed or damaged by the Material Casualty Loss shall be shared by the Parties in the same percentage of their respective ownership interest in the JV.
More Definitions of Material Casualty Loss
Material Casualty Loss has the meaning set forth in Section 5.6.4 hereof.
Material Casualty Loss shall have the meaning given such term in Section 6.2. “Materiality Condition” shall have the meaning given such term in Section 10.5. “MIDSTREAM” shall have the meaning given such term in the introductory paragraph. “MLP” shall have the meaning given such term in the introductory paragraph. “MLP Indemnitees” shall have the meaning given such term in Section 10.2. “MLP’s Knowledge” or the “Knowledge of MLP” or any similar term, shall mean the actual knowledge of any officer of MLP having a title of vice president or higher. “MLP Required Consents” shall have the meaning given such term in Section 5.4. “Net Working Capital” means, as to the JV, and determined as of the Effective Time, an amount (which may be positive or negative) equal to (i) the total current assets of the JV and its Subsidiaries minus (ii) the total current liabilities of the JV and its Subsidiaries, in each case determined in accordance with GAAP. “New Capital Projects” shall have the meaning given such term in Section 6.9(b). “Notice Period” shall have the meaning given such term in Section 10.4(c). “Ordinary Course of Business” shall mean the ordinary course of business consistent with past practices. “Permits” shall have the meaning given such term in the definition of Assets. “Permitted Encumbrances” shall mean the following: (a) the terms, conditions, restrictions, exceptions, reservations, limitations, and other matters contained in any document creating the Real Property Interests, or in any Permit or Contract; (b) Liens for property Taxes and assessments that are not yet due and payable (or that are being contested in good faith by appropriate Proceedings for which adequate reserves in accordance with GAAP have been established on the books of account of the applicable Entity); (c) mechanic’s, materialmen’s, repairmen’s and other statutory Liens arising in the Ordinary Course of Business and securing obligations incurred prior to the Effective Time and (i) for which adequate reserves in accordance with GAAP have been established on the books of account of the applicable Entity, or (ii) that are not delinquent and that will be paid and discharged in the Ordinary Course of Business or, if delinquent, that are being contested in good faith with any action to foreclose on or attach any Assets on account thereof properly stayed and for which adequate reserves in accordance with GAAP have been established on the books of account of the applicable Entity;
Material Casualty Loss shall have the meaning given such term in Section 6.2. “Materiality Condition” shall have the meaning given such term in Section 10.5. “MIDSTREAM” shall have the meaning given such term in the introductory paragraph. “MIDSTREAM Cash Consideration” shall have the meaning given such term in Section 2.2. “MIDSTREAM Consideration” shall have the meaning given such term in Section 2.2. “MIDSTREAM Contribution” shall have the meaning given such term in Section 2.1.
Material Casualty Loss shall have the meaning given to it in Section 6.20(a). “Material Contracts” shall have the meaning given to it in Section 4.14(a). “Material Customer” shall have the meaning given to it in Section 4.20(a). “Material Debt Contract” shall have the meaning given to it in Section 4.14(a). “Material Leased Real Property” means (a) all real property leased, subleased or licensed to or from the Company and/or the Company Subsidiaries with an annual base rent payable to or by the Company or any Company Subsidiary in excess of $100,000, (b) all real property that provides the primary means of access to a road, dock or waterway that is necessary for the current operation of the Business at the applicable real property or (c) a material portion of a real property that is necessary for the current operation of the Business. “Material Supplier” shall have the meaning given to it in Section 4.20(a). “MGS” means MIC Global Services, LLC, a Delaware limited liability company. “MGS Employee” means those full time, active employees of MGS identified by name and employing entity on Section 1.1(e) of the Company Disclosure Letter. “MIC” shall have the meaning given to it in the Preamble. “MIC Equity Plan” means the MIC 2016 Omnibus Employee Incentive Plan. “MIC Group” means, as of a given date, the controlled Affiliates of MIC other than the Company and the Company Subsidiaries. “New Corporate Names” shall have the meaning given to it in Section 6.22(c). “NJDEP” means the New Jersey Department of Environmental Protection. “Non-Assignable Business Contracts” has the meaning given to it in Section 6.5(b)(iii). “Nonparty Affiliates” shall have the meaning given to it in Section 9.14(a). “Notice of Objection” shall have the meaning given to it in Section 2.3(b). “OFAC” has the meaning given to it in the definition of Specified Business Conduct Laws. 18
Material Casualty Loss. A casualty loss to any Project where (i) the damaged portion of such Project is more than 25% of the net leasable square footage of such Project; or (ii) the insurance proceeds for such damage are more than 25% of the outstanding balance of the Note secured by such Project.
Material Casualty Loss shall have the meaning ascribed thereto in Section 7.15(a). "Material Environmental Condition" shall have the meaning ascribed thereto in Section 7.02(b).
Material Casualty Loss means, with respect to the Sale Property taken as a whole, any one or more events of Casualty resulting in loss or damage suffered to the land for which the cumulative effect, without consideration of any loss or damage suffered to the Improvements, results in damage suffered to the land portion of the Sale Property for which the uninsured or underinsured loss or estimated costs to restore such land portion to its pre-casualty condition exceeds Five Million and 00/100 Dollars ($5,000,000).