Material Portion has the meaning set forth in Section 6.13(c).
Material Portion means any portion of the Real Property that has a "fair market value" exceeding 10% of the Purchase Price of the Real Property.
Material Portion means a taking of the Property which, as a result of the taking, in Hersha Owner’s reasonable estimation as reviewed and confirmed in good faith by Owner JV, will result in a decrease in value of the Property equal to or exceeding ten percent (10%) of the Purchase Price.
Examples of Material Portion in a sentence
If prior to the Closing Date, a Material Portion of a Property is destroyed by fire or other casualty (a “Material Casualty”), Sellers shall notify Buyer in writing of such fact (which writing shall detail the amount of insurance recoverable) and Buyer shall have the option to terminate this Agreement upon notice to Sellers given within fifteen (15) days after Buyer’s receipt of Sellers’ written notice aforesaid.
More Definitions of Material Portion
Material Portion shall have the same meaning with respect to a casualty as that set forth in Section 12.1 with respect to a Taking.
Material Portion as used in the preceding sentence shall mean a Taking of: (a) at least one-third (ILLEGIBLE) of the Premises; or (b) the Building or any part thereof; or (c) shall result in cutting off direct access to and from the Premises to any adjacent public street or highway; or (d) such portion of the Premises as shall otherwise substantially alter Tenant's ability to use the same in the manner used by Tenant immediately prior to the Taking. Notwithstanding the termination of this Lease, both Landlord and Tenant shall have the right to prosecute their claims for an award and/or to share in the proceeds of any award based upon their respective interests. If the interests of Landlord and Tenant are both compensated in a single award, then Tenant shall be entitled to that portion of the award necessary to compensate it for its leasehold improvements and moving expenses and Landlord shall be entitled to the remainder of the award.
Material Portion means the amount of property or other assets owned, leased or operated by the Borrower and its Subsidiaries which represents more than 10% of the consolidated assets of the Borrower and its Subsidiaries as would be shown in the most recent publicly filed consolidated financial statements of the Borrower and its Subsidiaries.
Material Portion means a portion equal to or greater than 5% of the Collateral by value or number of Properties affected.
Material Portion. As defined in Section 22.3.
Material Portion means, with respect to the Property of the Borrower and Guarantors (taken as a whole), Property which represents more than 20% of the book value of all assets of the Borrower and Guarantors (taken as a whole). If a Material Portion of the Property of the Borrower and Guarantors (taken as a whole) is leased, sold or disposed of in violation of this Section 6.14, the Borrower shall pay to Administrative Agent for the benefit of Lenders at the time of such lease, sale or disposal, all amounts owed by the Borrower pursuant to Section 2.2, taking into account the effect of such lease, sale or disposal. Notwithstanding anything else that could be construed to the contrary in this Section 6.14, the provisions of this Section 6.14 do not govern the circumstances under which Liens may be granted, created or otherwise permitted to exist (which shall be governed by Section 6.16) nor shall this Section 6.14 govern the circumstances under which Investments or Restricted Payments may be made (which shall be governed by Section 6.15 and 6.19, respectively).
Material Portion. More than 40% of the gross floor area of casino space (but not any hotel, convention or other space that is not casino space) of any Facility; provided, however, with respect to any Facility that is not located in Las Vegas, Nevada and the Excalibur Hotel and Casino, Tenant may sublease or enter into management agreements covering more than 40% of the gross floor area of the casino space of any such Facility without Landlord’s consent as would not reasonably be expected to result in a material adverse effect on the applicable Facility.