Restoration Period definition

Restoration Period. The period of restoration established in the Restoration Schedule and as defined in Section 15.6(a).

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Restoration Period shall have the meaning set forth in Section 14.1 hereof.

Restoration Period means the period of time that:

Examples of Restoration Period in a sentence

• Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease upon written notice to the other if the Premises are damaged during the last year of the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage; provided, however, that such notice is delivered within 10 business days after the date that Landlord provides Tenant with written notice of the estimated Restoration Period.

• If the Restoration Period is estimated to exceed 12 months (the “Maximum Restoration Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is 75 days after the date of discovery of such damage or destruction.

• The Restoration Period and the Maximum Restoration Period shall not be extended by Force Majeure.

• Notwithstanding the foregoing, Landlord or Tenant may terminate this Lease if the Premises are damaged during the last year of the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage; provided, however, that such notice is delivered within 10 business days after the date that Landlord delivers notice to Tenant of the estimated Restoration Period.

• If Landlord elects to repair the damage and (i) the damage substantially interferes with Tenant’s ability, in its reasonable judgment, to conduct its business therefrom, or (ii) if the repairs and restoration cannot be completed within the Restoration Period as determined by Landlord, then Tenant may, at its option, within thirty (30) days of the receipt of the Landlord’s Notice, terminate this Lease effective as of the date of the casualty and the Rent shall be prorated as of that date.

More Definitions of Restoration Period

Restoration Period means a two hundred (200) day period beginning on the date that the Building has been damaged or destroyed by a casualty occurrence.

Restoration Period means the time it should reasonably take to resume "your" "business" starting from the date of loss to the described premises caused by a covered peril, and ending on the date the property should be rebuilt, repaired, or replaced. This is not limited by the expiration date of the policy.

Restoration Period means a period of time commencing 72 hours after the cessation of Business Activities because of Workplace Violence and ending on the earliest of the following dates:

Restoration Period means the period beginning on the date that the proceeds of insurance or condemnation, as applicable, are paid to Borrower and ending on the date, determined by Agent or its construction consultant, which would allow Borrower a sufficient amount of time to complete such repair, reconstruction or replacement if pursued diligently and continuously. Funds in the Pledged Account shall be disbursed upon satisfaction of such reasonable conditions as Agent may impose, including, without limitation, submission of invoices or paid receipts, lien waivers and evidence that funds adequate for completion of such repairs, reconstruction or replacement are available. Notwithstanding the foregoing provisions regarding the permanent reduction of the Revolving Loan Commitments, upon request by Borrower, Majority Lenders may agree to permit Borrower to use a portion of the Net Cash Proceeds of an Approved Sale or an Approved Sale and Leaseback not related to the Tandem Mill Collateral to purchase replacement Properties to be used in the business of making, processing or distributing steel products (including, without limitation, tin products or other coated steel products). If Majority Lenders so agree, the Net Cash Proceeds of such Approved Sale or Approved Sale and Leaseback shall be placed in and shall remain in a Pledged Account and shall be released to Borrower as required in order to permit the purchase of such replacement Properties; provided, that if (i) an Event of Default occurs during the period that all or a portion of such proceeds are located in the Pledged Account or (ii) such proceeds are not used for such purposes within 270 days after the original Approved Sale or Approved Sale and Leaseback, Majority Lenders shall have the right to (a) suspend Borrower's right to access such proceeds in the Pledged Account and (b) apply such amounts to the outstanding principal balance of the Revolving Credit Loans and shall permanently reduce the Revolving Loan Commitments by the amount of such proceeds so applied.

Restoration Period with respect to any Casualty Event, one hundred eighty (180) days following receipt by a Borrower of Insurance Proceeds paid in connection therewith, and with respect to any Disposition or condemnation proceeding, one hundred eighty (180) days following receipt by a Borrower of, respectively, Net Cash Proceeds or condemnation proceeds.

Restoration Period. With respect to any Casualty Event resulting in Insurance Proceeds one hundred eighty (180) days following receipt by the Borrower, or any other Company, of such Insurance Proceeds.

Restoration Period. With respect to any Casualty Event resulting in the proceeds of insurance, condemnation award or other compensation, one hundred eighty (I 80) days following receipt by the Borrower, or any other Company, of such proceeds or such longer period as the Borrower shall reasonably request, if the Borrower or such Company has commenced such restoration or replacement within forty-five (45) days after receipt of such proceeds and thereafter diligently pursues such restoration or replacement to completion. Restricted Payment. Any distribution or payment of cash or property, or both, directly or indirectly (a) in respect of any Subordinated Debt or (b) to any Subsidiary or to any partner, member, stockholder, optionholder, warrantholder or other equityholder of any of the Companies, any of the Parent Companies or of any of their respective Affiliates for any reason whatsoever, including without limitation, salaries, loans, debt repayment, consulting fees, management fees, expense reimbursements and dividends, distributions, put, call or redemption payments and any other payments in respect of equity interests; provided, however, that Restricted Payments shall not include