Examples of Requisition of Use in a sentence
The date of such Event of Loss shall be the date of such theft, disappearance, destruction, damage, Requisition of Use, prohibition, unfitness for use for the stated period, removal for the stated period or Return to Manufacturer.
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The date of occurrence of such Event of Loss shall be the date of such theft, disappearance, destruction, damage, Requisition of Use or prohibition of, or unfitness for use, for the stated period.
So long as no Default or Event of Default shall have occurred and be continuing, the Lessee shall be entitled to all sums received by reason of any such Requisition of Use for the period ending on the Lease Termination Date, and the Lessor shall be entitled to all sums received by reason of any such Requisition of Use for the period after the Lease Termination Date.
In the case of a Requisition of Use with respect to any portion of the Leased Property which does not constitute an Event of Loss, such Requisition of Use shall not terminate this Lease with respect to such portion of the Leased Property and each and every obligation of the Lessee with respect thereto shall remain in full force and effect.
With respect to a Requisition of Use, Lessee will be entitled to all amounts paid by any governmental authority up to the Casualty Value actually paid by Lessee, and any excess will be paid over to, and retained by, Lessor.
Lessee hereby assumes and shall bear the entire risk of casualty, whether or not insured against, of the equipment from any and every cause whatsoever, and from requisition for use by governmental authority under the power of eminent domain or otherwise (Requisition of Use), from the date of commencement of this Lease.
In the case of a Requisition of Use with respect to a Unit which does not constitute a Casualty Occurrence, such Requisition of Use shall not terminate this Lease with respect to such Unit and each and every obligation of the Lessee with respect thereto shall remain in full force and effect.
This Time Charter shall terminate simultaneously upon a termination of the Sub- Bareboat Charter as set forth in Article 10, 11 and 12 thereof (relating to an Event of Loss (including requisition of title to the Vessel), Early Termination for obsolescence and Requisition of Use, respectively) or upon the election of Time Charterer, with the consent of Bareboat Charterer, for reasons of a Sub-Bareboat Charterer Default under Section 16 hereof.
This Time Charter shall terminate simultaneously upon a termination of the Bareboat Charter as set forth in Article 10 and 12 thereof (relating to an Event of Loss (including requisition of title to the Vessel), and Requisition of Use) or upon the election of Time Charterer, with the consent of Bareboat Charterer, for reasons of a Bareboat Charterer Default under Section 16 hereof.