Restoring Party definition

Restoring Party has the meaning stated in Section 20.2
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Restoring Party means the party that is required to perform the Casualty Restoration. “Right of First Offer” shall mean the right of first offer to purchase the Premises or a majority interest in Landlord. “ROFO Negotiation Period” shall have the meaning set forth in Section 7.2(b). “ROFO Notice” shall have the meaning set forth in Section 7.2(a). “ROFO Offer” shall have the meaning set forth in Section 7.2(a). “Room Occupancy Agreements” shall mean lodging agreements (whether written or oral) entered into by Tenant and/or its property manager for overnight lodging of transient guests (including, without limitation, group business) entered into in the ordinary course of operating the Hotel. “Scheduled Expiration Date” shall mean the last day of the calendar month in which the twentieth (2Oth) anniversary of the Lease Commencement Date occurs, provided that if the Lease Commencement Date is the first day of a month, then the Scheduled Expiration Date shall be the last day of the calendar month immediately preceding the twentieth (20t1) anniversary of the Lease Commencement Date. “SNDA” shall mean a subordination, non-disturbance and attornment agreement in such reasonable form as may be provided by any Mortgagee or prospective Mortgagee and agreed to by Tenant (in its reasonable discretion). “Specially Designated National or Blocked Person” shall mean either: (a) a person or entity designated by OFAC from time to time as a “specially designated national or blocked person” or similar status; (b) a person or entity described in Section 1 of U.S. Executive Order 13224, issued on September 23, 2001; or (c) a person or entity otherwise identified by a Governmental Authority or legal authority as a person with whom Landlord or Tenant is prohibited from transacting business. “State” shall mean the State in which the Premises are located, as set forth in the Recitals hereof. “Sublease” or “Subleases” shall mean individually and collectively all subleases and occupancy, license and concession agreements under which a Subtenant uses or occupies or has the right to use or occupy the Premises or any portion thereof, now or in the future. “Subtenant” or “Subtenants” shall mean individually and collectively all subtenants, operators, licensees, concessionaires and other occupants of the Premises or portions thereof under Subleases. “Tenant Indemnified Party” shall mean Tenant, its Affiliates, and each of their respective partners, members, managers, officers, directors, invitees, employ...
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Restoring Party has the meaning specified in Section 7.1(c).
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Examples of Restoring Party in a sentence

  • Within fifteen (15) calendar days after submission thereof, the Non-restoring Party shall either approve the same or serve written notice upon the Restoring Party of its disapproval thereof and its objections thereto, in default of which such plans and specifications or such portion thereof not objected to shall be deemed to be approved by the Non-restoring Party, anything herein contained to the contrary notwithstanding.

  • During the course of such restoration and its completion, the Restoring Party shall keep copies of all plans, shop drawings and specifications relating to such restoration on the building site and permit the Non-restoring Party or its architect, engineer or other representative to examine them at all reasonable times, or, in the alternative, shall furnish the Non-restoring Party with copies of such plans, drawings and specifications.

  • Upon the receipt of any such notice, the Restoring Party shall take such steps as it deems necessary to cause corrections to be made as to any deficiencies, omissions or otherwise, and if necessary for the purpose of effectuating such corrections, shall immediately remove such materials and replace such construction and furnish materials in accordance with the approved plans and specifications or equally as good as those provided for in such plans and specifications.

  • For purposes of ARTICLES 8 and 9, the "RESTORING PARTY" shall mean Tenant; or, if Tenant allows Landlord, and Landlord (in its sole and absolute discretion) agrees, to be responsible for the Restoration, or if Landlord undertakes to restore in the event Tenant refuses or otherwise fails diligently to restore, Restoring Party shall then mean Landlord.

  • Secured Lender shall release to Restoring Party, as hereinafter provided, the Restoration Funds, for the purpose of Restoration to be made by Restoring Party to Restore the Buildings to a value not less than their value prior to such fire or other casualty.

  • The Restoration Funds shall be paid to or for the account of Restoring Party from time to time in installments as the Restoration progresses, upon application to be submitted from time to time by Restoring Party to the Secured Lender(s) as described in SECTION 8.

  • To the extent the Restoring Party is Landlord, Landlord shall use its good faith efforts to effect such repair or restoration in such manner as to not unreasonably interfere with use and occupancy by Tenant and its patrons of the portion of the Premises not affected by the Casualty Event.

  • To the extent the Restoring Party is Tenant, Tenant may, as part of the Casualty Restoration, make any other Alterations to the Premises desired by Tenant, and the Casualty Restoration and any such additional Alterations shall be reasonably approved by Landlord, but only if and to the extent such approval is required pursuant to Article 10 hereof.

  • The Restoring Party shall commence the Casualty Restoration as soon as reasonably practicable following the Casualty Event and pursue such work to completion with commercially reasonable diligence, subject to Force Majeure Events.

  • All proceeds payable under policies of insurance providing property coverage for Casualty Event shall be paid to the Restoring Party to be disbursed and applied for purposes of Casualty Restoration, subject to and in accordance with the provisions of this Section 13.2.

Related to Restoring Party

  • Substitute Improvements means the substitute or additional improvements of the Issuer described in Article V hereof.

  • Improvement warranty period means a period:

  • Needs Improvement the Educator’s performance on a standard or overall is below the requirements of a standard or overall, but is not considered to be unsatisfactory at this time. Improvement is necessary and expected. Unsatisfactory: the Educator’s performance on a standard or overall has not significantly improved following a rating of needs improvement, or the Educator’s performance is consistently below the requirements of a standard or overall and is considered inadequate, or both.

  • Tenant Improvement Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

  • Improvement warranty means an applicant's unconditional warranty that the

  • Maximum medical improvement means a point in time when any medically

  • Nonconforming structure means a structure the size, dimension

  • Work loss means loss of income from work the injured victim would have performed if the injured victim had not been injured and expenses reasonably incurred by the injured victim in obtaining services in lieu of those the injured victim would have performed for income,

  • Customer Premises Equipment or "CPE" means equipment employed on the premises of a Person other than a Carrier to originate, route or terminate Telecommunications (e.g., a telephone, PBX, modem pool, etc.).

  • Home improvement means the remodeling, altering,

  • Nonconforming lot means a lot that met dimensional requirements of the applicable master program at the time of its establishment but now contains less than the required width, depth or area due to subsequent changes to the master program.

  • Repair means to restore to proper operating condition a tank, pipe, spill prevention equipment, overfill prevention equipment, corrosion protection equipment, release detection equipment or other UST system component that has caused a release of product from the UST system or has failed to function properly.

  • Nonconforming sign means a sign or sign structure, other than a nonstandard sign or a sign that is erected and maintained in a business area along a scenic byway prior to the designation as a scenic byway, that satisfies 1 of the following:

  • Infrastructure improvement means permanent infrastructure that is essential for the public health and safety or that:

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Tenant Improvements Defined in Exhibit B, if any.

  • Substantial improvement means any combination of repairs, reconstruction, rehabilitation, addition, or other improvement of a structure, taking place during any one-year period for which the cost equals or exceeds 50 percent of the market value of the structure before the “start of construction” of the improvement. This term includes structures which have incurred “substantial damage”, regardless of the actual repair work performed. The term does not, however, include either:

  • Major renovation means the renovation of a building where:

  • Capital Improvement or "Capital Improvement Project" means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities of Local Subdivisions, including real property, interests in real property, and facilities and equipment of Local Subdivisions related or incidental thereto.

  • improvement notice means the notice issued by the Authority to the Supplier pursuant to Clause 32.1.3 (Authority Remedies) which will detail how the Supplier shall improve the provision of the Goods and/or Services;

  • Major Tenant means a tenant of a Loan Party under a lease of Property which entitles it to occupy 15,000 square feet or more of the net rentable area of such Property.

  • Modular building manufacturer means a person or corporation who owns or operates a

  • Substantial alteration means an alteration that has a major impact on the architectural features, characteristics, appearance, or integrity of a structure or lot. The term does not include routine maintenance that is reasonably necessary to maintain a dealership facility in attractive condition and does not include any changes to items protected by federal intellectual property rights.

  • Affordable Rent means a rent which does not exceed eighty per centum (80%) of the market rent (inclusive of service charges) for an equivalent property of the relevant size and location such rent to be assessed and set in accordance with the applicable requirements of Legislation and of the Rent Standard;

  • Public improvement costs means the costs of: