Rig Total Loss definition

Rig Total Loss means an actual total casualty loss, a constructive total casualty loss or a compromised total casualty loss to a Rig, including by physical damage or by seizure or arrest, forced sale or other involuntary transfer, confiscation or requisition (of title or for hire) whether by any Government Authority or any other person;
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Examples of Rig Total Loss in a sentence

  • In the event of a Rig Total Loss Event, the Consideration shall be reduced by the value of the Assets attributed to the Rig the subject of a Rig Total Loss in the Allocation Schedule (such aggregate amount being“ Rig Total Loss Consideration”).

  • If between the date of this agreement and Completion a Rig Total Loss occurs (a“ Rig Total Loss Event”), the Seller Parent shall promptly notify the Buyer in writing of such loss and describe in reasonable detail the particulars of such Rig Total Loss Event.

  • In relation to Commercial Civil Suits involving company, there is no any constitutional provision that expressly allocate them solely under the powers federal courts, unlike the given provisions of federal courts proclamation.

Related to Rig Total Loss

  • Total Loss means, in relation to a Ship:

  • Total Loss Date means, in relation to a Ship:

  • Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

  • Partial Loss means any Physical Damage loss which is not a Total Loss.

  • Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Economic Risk of Loss has the meaning set forth in Treasury Regulation Section 1.752-2(a).

  • Replacement Cost means the cost to repair or rebuild the improvements owned by Lessor at the time of the occurrence to their condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of applicable building codes, ordinances or laws, and without deduction for depreciation.

  • 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,

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • or "Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Material Loss means an uninsured:

  • Principal Loss Amount With respect to each Payment Date, the sum of: (a) the aggregate amount of Credit Event Net Losses for all Credit Event Reference Obligations for the related Reporting Period; (b) the aggregate amount of court-approved principal reductions (“cramdowns”) on the Reference Obligations in the related Reporting Period; (c) subsequent losses on any Reference Obligation that became a Credit Event Reference Obligation on a prior Payment Date; and (d) amounts included in the second, fourth, seventh, eighth and tenth priorities set forth in Section 3.03(f) hereof.

  • Risk of Loss The risk for loss shall remain with the Contractor until any Goods that may be required to be delivered pursuant to this Contract or the Bid Documents are delivered to the Authority in accordance with the terms hereof. Contractor shall carry on the work of furnishing and delivering the Goods at Contractor’s own risk and expense until the same is fully completed and accepted by the Authority and shall be solely liable and responsible for the safety and security thereof.

  • Substantial damage means damage of any origin sustained by a structure whereby the cost of restoring the structure to its before damaged condition would equal or exceed 50 percent of the market value of the structure before the damage occurred.

  • Major Damage means damage that in the estimation of the surveyor exceeds USD

  • Physical Damage means any tangible injury to a Property, whether caused by accident, natural occurrence, or any other reason, including damage caused by defects in construction, land subsidence, earth movement or slippage, fire, flood, earthquake, riot, vandalism or any Environmental Condition.

  • Electrical Losses means all applicable losses, including the following: (a) any transmission or transformation losses between the CAISO revenue meter(s) and the Delivery Point; and

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • Insured Loss means damage or destruction to the Premises, other than Lessee-Owned Alterations and Utility Installations and Trade Fixtures, which was caused by an event required to be covered by the insurance described in Paragraph 8.3(a) irrespective of any deductible amounts or coverage limits involved.

  • Economic loss means any of the following types of pecuniary harm:

  • Vessel means the vessel/craft belonging to the Contractor for carrying out the work.

  • Extraordinary Loss Any Realized Loss or portion thereof caused by or resulting from:

  • Data Loss Event means any event that results, or may result, in unauthorised access to Personal Data held by the Contractor under this Agreement, and/or actual or potential loss and/or destruction of Personal Data in breach of this Agreement, including any Personal Data Breach.

  • Loss means any and all damages, fines, fees, penalties, deficiencies, losses and expenses (including without limitation interest, court costs, fees of attorneys, accountants and other experts or other expenses of litigation or other proceedings or of any claim, default or assessment).