Total Loss Incident definition

Total Loss Incident means any incident or occurrence that results in the total loss or destruction of the Asset or any occurrence that makes the Asset permanently unfit for any economic use and the repair work in respect thereof is uneconomical.
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Total Loss Incident means any incident or occurrence that results in the total loss or destruction of, or damage to the whole of the Property or any incident or occurrence that makes the Property permanently unfit for any economic use and the repair or remedial work in respect thereof is uneconomical; Trade Transaction means the Purchase Transaction and the Sale Transaction collectively; Transaction Documents means collectively the following documents: (a) documents evidencing the Tawarruq Transactions including but not limited to the Purchase Request; (b) the Security Documents; and such other documents designated as such by the Bank; and Transaction Fees means, where applicable, the set-up fee and monthly service charge payable by the Customer(s) to the Bank under Clause 4.2 in the amount and in the manner as provided in the Letter Of Offer.
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Total Loss Incident means any incident or occurrence that results in the this Agreement means this Agreement entered into and executed Vendor means the party(ies) in relation to the Sale and Purchase Agreement whose name, description and present address as set out in Item 7 of Schedule 1 herein.
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Examples of Total Loss Incident in a sentence

  • Upon the occurrence of an Event of Default, and Illegality Event and a Total Loss Incident, the Ijara shall be terminated in accordance with the Musharaka Agreement and the terms in relation thereto in the Musharaka Agreement shall apply.

  • Except where the Total Loss Incident arises or results from a Force Majeure, the Managing Agent acknowledges that it has acted negligently in maintaining the Asset which has led to such Total Loss Incident and irrevocably and unconditionally undertakes to pay (in same day, freely transferable, cleared funds) an amount equal to any shortfall of the Outstanding Amounts directly into such bank account by no later than close of business on the 31st day after the date of the Total Loss Incident.

  • Except where the Total Loss Incident arises or results from a Force Majeure, the Service Agent acknowledges that it has acted negligently in maintaining the Asset which has led to such Total Loss Incident and irrevocably and unconditionally undertakes to pay (in same day, freely transferable, cleared funds) an amount equal to any shortfall of the Outstanding Amounts directly into such bank account by no later than close of business on the 31st day after the date of the Total Loss Incident.

  • Subject to the term s and conditions as set out in clause 13.1 (xxiii) of of Schedule 8 herein, the Customer and the Bank hereby agree that in case of Total Loss Incident due to the occurrence of any Force Majeure events (“ Total Loss ”), the Customer and the Bank shall bear any loss incurred pursuant thereto based on their respective proportionate ownership of Musharakah Units at the time of Total Loss.

  • Upon the occurrence of an Event of Default, an Illegality Event and a Total Loss Incident, the Ijara shall be deemed terminated and the terms in relation to Event of Default in clause 14 shall apply.


More Definitions of Total Loss Incident

Total Loss Incident means any incident or occurrence that results in the Transaction Documents means collectively the following documents:
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Related to Total Loss Incident

  • Total Loss means, in relation to a Ship:

  • serious incident means any incident that directly or indirectly led, might have led or might lead to any of the following:

  • 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:

  • Data Incident means a breach of Google’s security leading to the accidental or unlawful destruction, loss, alteration, unauthorized disclosure of, or access to, Customer Data on systems managed by or otherwise controlled by Google.

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

  • 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.

  • Cyber incident means actions taken through the use of computer networks that result in a compromise or an actual or potentially adverse effect on an information system and/or the information residing therein.

  • Unusual Incident means those incidents involving serious illness or accidents, death of an individual, injury or illness of an individual requiring inpatient or emergency hospitalization, suicide attempts, a fire requiring the services of a fire department, or any incident requiring abuse investigation.

  • Minor incident means an occurrence involving a consumer during service provision that is not a major incident and that:

  • Nuclear incident means any occur- rence including an extraordinary nuclear oc- currence or series of occurrences at the loca- tion or in the course of transportation caus- ing bodily injury, sickness, disease, or death, or loss of or damage to property, or loss of use of property, arising out of or resulting from the radioactive, toxic, explosive, or other hazardous properties of the radioactive material.(b) Any occurrence including an extraor- dinary nuclear occurrence or series of occur- rences causing bodily injury, sickness, dis- ease or death, or loss of or damage to prop- erty, or loss of use of property, arising out of or resulting from the radioactive, toxic, ex- plosive or other hazardous properties of

  • Catastrophic Event : means an unforeseen event of biotic or abiotic nature caused by human action that leads to important disturbances of agricultural production systems and forest structures, eventually causing important economic damage to the farming or forestry sectors;

  • Insured Loss means damage or destruction to improvements on 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.

  • Critical incident means an occurrence or set of events inconsistent with the routine operation of the facility, or the routine care of a consumer. Critical incidents specifically include but are not necessarily limited to the following: adverse drug events; self-destructive behavior; deaths and injuries to consumers, staff and visitors; medication errors; consumers that are absent without leave (AWOL); neglect or abuse of a consumer; fire; unauthorized disclosure of information; damage to or theft of property belonging to a consumers or the facility; other unexpected occurrences; or events potentially subject to litigation. A critical incident may involve multiple individuals or results.

  • Privacy Incident means violation of the Minnesota Government Data Practices Act (Minnesota Statutes chapter 13); violation of federal data disclosure or privacy requirements in federal laws, rules and regulations; and/or breach of a contractual obligation to protect State data. This includes, but is not limited to, improper or unauthorized access to, viewing of, obtaining of, acquisition of, use of, disclosure of, damage to, loss of, modification of, alteration to or destruction of State data protected by such State or federal laws or by contract.

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

  • 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.

  • Loss Event means (A) an annual pre-tax loss at GS Inc. or (B) annual negative revenues in one or more reporting segments as disclosed in the Firm’s Form 10-K other than the Investing & Lending segment, or annual negative revenues in the Investing & Lending segment of $5 billion or more, provided in either case that you are employed in a business within such reporting segment.

  • Consequential Loss means indirect or consequential loss or damage such as, but not limited to, loss of contract, bargain, expectation, opportunity, profit, production, revenue, anticipated cost reduction or interest payable howsoever caused, arising out of or in connection with this Contract.

  • Material Damage and “Materially damaged” means damage (w) resulting in the Property not complying with all legal requirements applicable to the Property, (x) reasonably exceeding $300,000 or (y) that entitles any tenant of the Property to terminate its Lease, or (z) which, in Buyer’s or Seller’s reasonable estimation, will take longer than 120 days to repair.

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

  • Catastrophic illness or “injury” means an illness or injury that is expected to incapacitate the employee for an extended period of time, or that incapacitates a member of the employee’s family which incapacity requires the employee to take time off from work for an extended period of time to care for that family member, and taking extended time off work creates a financial hardship for the employee because he or she has exhausted all of his or her sick leave and other paid time off.

  • Loss Occurrence means the sum of all individual losses directly occasioned by any one disaster, accident or loss or series of disasters, accidents or losses arising out of one event which occurs within the area of one state of the United States or province of Canada and states or provinces contiguous thereto and to one another. However, the duration and extent of any one "loss occurrence" shall be limited to all individual losses sustained by the Company occurring during any period of 168 consecutive hours arising out of and directly occasioned by the same event, except that the term "loss occurrence" shall be further defined as follows:

  • Environmental Incident means, in relation to each Ship:

  • Pollution Incident means an occurrence or series of occurrences having the same origin, which results or may result in a discharge of oil and/or hazardous and noxious substances and which poses or may pose a threat to the marine environment, or to the coastline or related interests of one or more States, and which requires emergency action or other immediate response;

  • Direct Damage has the meaning given to it in clause 26.2;

  • Terrorist Incident means an act of violence by any person acting on behalf of or in connection with any organization which is generally recognized as having the intent to overthrow or influence the control of any government, that is deemed terrorism by the United States Government other than civil disorder or riot, that is not an act of war, declared or undeclared, that results in Loss of life or major damage to property.