Minor Casualty definition

Minor Casualty means any fire or other casualty which results in damage to the Facility and/or its contents, to the extent that the total cost (in Landlord's reasonable judgment) of repairing and/or replacing of the damaged portion of the Facility to the same condition as existed previously does not exceed the dollar amount of Two Million Dollars ($2,000,000), said dollar amount to be adjusted by the GDP Deflator.

Minor Casualty means any casualty, whether covered by insurance or not, which is not a Major Casualty.

Minor Casualty means any fire or other casualty that results in physical damage to the a Facility to the extent that the total cost (as estimated by the Project Engineer) of repairing and/or replacing the damaged portion of the Facility , as the case may be, to the same condition as previously existed would not exceed the amount of INR 25,00,000 (Rupees twenty five lakhs).

Examples of Minor Casualty in a sentence

• If, during the Term, the Facility is damaged by fire, casualty or other cause to a greater extent than a Minor Casualty, but not to the extent of a Total Casualty, or if the Facility suffers a Total Casualty but neither party elects to terminate under Section 10.1, Landlord shall, at its cost and expense and with all reasonable diligence, repair and/or replace the damaged portion of the Facility to the same condition as existed previously.

• There shall be no abatement or reduction of Rent on account of any Minor Casualty and all obligations of Tenant under this Agreement shall remain unchanged and in full force and effect.

• In the event of any Minor Casualty at any time during the Term, and regardless of whether such Minor Casualty is insured or uninsured, Tenant shall be obligated to repair, rebuild or restore the damaged improvements.

• The Improvements (including any partially constructed portion of the Project) shall not have been injured or damaged by fire, explosion, accident, flood or other casualty, unless (i) such injury or damage constitutes a Minor Casualty, or (ii) the damage therefrom shall have been fully Restored, or (iii) Net Proceeds in an amount sufficient for Restoration shall have been received by Borrowers or Lender as required pursuant to this Agreement.

• Graded S/U.Prerequisite: Economics major.604 Applied Statistics and Decision Analytics Assessment.

More Definitions of Minor Casualty

Minor Casualty means any fire or other casualty which results in damage to the Hotel and/or its contents, to the extent that the total cost (in Manager’s reasonable judgment) of repairing and/or replacing of the damaged portion of the Hotel to the same condition as existed previously does not exceed the dollar amount of Two Million Five Hundred Thousand Dollars ($2,500,000), said dollar amount to be adjusted by the GDP Deflator.

Minor Casualty means any casualty or accident other than a Major Casualty.

Minor Casualty means any fire or other casualty that results in damage to the Hotel and/or its contents, to the extent that the total cost of repairing and/or replacing of the damaged portion of the Hotel to the same condition as existed previously does not exceed an amount equal to ten percent (10%) of the total insured value of the Hotel.

Minor Casualty means an incident or occurrence whereby a Mortgaged Ship sustains damage or is the subject of a claim of the Casualty Amount or less;

Minor Casualty means any injury or damage to the Improvements on the Hotel/Casino Property and/or the Adjacent Property, including any partially constructed portion of the Project, (i) the cost of which to Restore, together with any prior such damages which (A) have not yet been Restored or (B) with respect to which Net Proceeds in an amount sufficient for Restoration have not yet been received by Borrowers or Lender as required pursuant to this Agreement, is less than $5,000,000.00, and (ii) is not materially interfering with, and is not, in Lender’s reasonable judgment, reasonably likely to materially interfere with, the progress of construction of the Project.

Minor Casualty means damage by fire or other casualty to the Property, the cost to repair will be in the amount of $1,000,000.00 or less, or the time to repair will be 180 days or less (as reasonably determined by Seller).

Minor Casualty means any fire or other casualty which results in damage to the Facility and/or its contents, and in the reasonable judgment of Manager the out-of-pocket expenses (to the extent not covered by insurance proceeds) of the “Repair and/or Replacement” equals or is less than One Million Dollars ($1,000,000) (excluding any required insurance deductibles). For purposes of this paragraph, “Repair and/or Replacement” shall mean the repair and/or replacement of the Facility and/or its contents to substantially the same condition as existed prior to the fire or other casualty resulting in damage to the Facility and its contents.