Substantial Loss definition

Substantial Loss means damage or destruction in an amount in

Substantial Loss shall have the meaning ascribed to it in Section 12(b).

Substantial Loss generally means a loss which would equal or exceed 10 percent of the total project cost.

Examples of Substantial Loss in a sentence

• Neither the Prospective Purchaser nor any of its Associated Person(s) has borrowed money or guaranteed loans in more than one transaction with the intent to cause a loss or with reckless disregard for whether such transactions would cause a loss to any financial institution insured by the FDIC, where these loans, in the aggregate, caused a Substantial Loss to one or more Failed Institutions.

• If any such loss or damage which constitutes Substantial Loss or Damage occurs prior to Closing, Patriot shall have the right to terminate this Agreement.

• In the event any of the Property or any of the items constituting the Personal Property should be damaged or destroyed as a result of fire or other casualty and such damage does not constitute Substantial Loss or Damage and such damage is not repaired prior to Closing, the rights and obligations of Crow and Patriot hereunder with respect to the Property shall not be affected by such destruction or damage and Patriot shall accept title to the Property in its destroyed or damaged condition.

• In the event that Patriot and Crow are unable to agree on the cost of repair of any Substantial Loss or Damage, then such cost of repair shall be determined by an insurance adjuster selected by Crow and approved by Patriot, such approval not to be unreasonably withheld.

• Substantial Loss of Income – no income for at least 10 consecutive regular work days because annual and, if appropriate, sick leave accounts are exhausted.

More Definitions of Substantial Loss

Substantial Loss with respect to the Property shall mean a casualty or condemnation that either (i) shall entitle any anchor Space Tenant denoted as such on Schedule C annexed hereto (each an "Anchor Space Tenant" and collectively the "Anchor Space Tenants") to terminate its Space Lease on or after the Closing Date and Seller has failed to obtain a waiver of such termination right or (ii) requires repairs or restoration costs in excess of Seven Hundred Fifty Thousand ($750,000.00) Dollars. In the event Purchaser elects to cancel this Contract in accordance with subparagraph (a) above, Seller may rescind such cancellation by (iii) delivering, within one (1) year after the receipt of Purchaser's notice of cancellation, a waiver by each Anchor Space Tenant which was entitled to terminate its Space Lease by reason of the casualty or condemnation of its right or option to so terminate and (iv) within one (1) year after receipt of Purchaser's notice of cancellation, restorating and repairing the Property (A) if in connection with a casualty, substantially to its condition immediately prior to the casualty or (B) if in connection with a condemnation, as may be reasonably necessary as a result of the taking of property; provided, however, that Purchaser shall have no obligation to close title if, during such period of adjournment, an event occurs which materially and adversely affects the Premises and such event is not corrected or cured to the reasonable satisfaction of Purchaser.

Substantial Loss means damage or destruction in an

Substantial Loss defined in paragraph (b), means: (i) an obligation that is delinquent for ninety (90) or more days and on which a balance of more than $50,000 remains outstanding; (ii) a final judgment in excess of $50,000 remains unpaid, regardless of whether it becomes forgiven in whole or in part in a bankruptcy proceeding; (iii) a deficiency balance following a foreclosure or other sale of collateral in excess of $50,000 exists, regardless of whether it becomes forgiven in whole or in part in a bankruptcy proceeding; or (iv) any loss in excess of $50,000 evidenced by an IRS Form 1099–C (Information Reporting for Cancellation of Debt). There is no reprieve for a prospective purchaser who has participated in a material way in a transaction that caused a substantial loss to a covered financial company. Such prospective purchaser is indefinitely

Substantial Loss has the meaning given thereto in Section 9.02(e) hereof.

Substantial Loss means a loss in a

Substantial Loss means:

Substantial Loss means, with respect to the Project, any damage to, or ---------------- loss suffered by, the Project that results in either (i) a 25% or greater decrease in the value of the Project or (ii) a repair cost of more than $5,000,000.