No Material Loss Sample Clauses
The "No Material Loss" clause serves to ensure that neither party to an agreement suffers a significant financial or operational detriment as a result of the contract or its execution. In practice, this clause may require parties to take reasonable steps to prevent or mitigate substantial losses, or it may set thresholds for what constitutes a "material" loss, such as losses exceeding a certain monetary value. Its core function is to allocate risk and provide assurance that minor or incidental losses will not trigger contractual remedies or disputes, thereby focusing attention on only significant issues that could impact the parties' interests.
No Material Loss. The Company has not sustained any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or action, order or decree of any governmental entity; and, since the date as of which information is given in the Prospectus, there has not been any material change in the ownership or long-term debt of the Company or any material adverse change, or any development that may cause a prospective material adverse change, in or affecting the general affairs, management, financial position, business prospects or results of operations of the Company, otherwise than as set forth or contemplated in the Prospectus;
No Material Loss. If, prior to the Close of Escrow, and subject to the satisfaction or waiver of all conditions precedent in favor of Buyer and Seller, the Property shall suffer a Material Loss, Buyer shall have the right to elect, within 30 days of receipt of notice of such Material Loss, (a) to terminate this Agreement under Section 8.4.1 and receive a return of Buyer's Deposit or (b) to purchase the Property as provided in this Agreement and receive an assignment of any insurance proceeds Seller receives, or to which Seller is or may become entitled, with respect to such Material Loss upon Seller's receipt of such proceeds. The parties acknowledge and agree in no event shall the Close of Escrow be extended due to a Material Loss. Notwithstanding the foregoing, the assignment of any insurance proceeds as provided herein shall not include any proceeds received for items not related to the physical condition of the Property, such as proceeds from Seller's business interruption insurance, if any. For purposes of this Agreement, a "Material Loss" means a loss resulting from a casualty that either (i) diminishes the value of the Property in an amount of at least 10% of the Purchase Price or (ii) results in a loss of at least 10% of the aggregate square footage of the Land as of the Effective Date.
No Material Loss. Since December 31, 2002, neither the Company nor any of its subsidiaries has sustained any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree.
No Material Loss. If, prior to the Close of Escrow, and subject to the satisfaction or waiver of all conditions precedent in favor of Buyer and Seller, the Property shall suffer a Material Loss, Buyer shall have the right to elect, within 30 days of receipt of notice of such Material Loss, (a) to terminate this Agreement under Section 8.4.1 and receive a return of Buyer's Deposit or (b) to purchase the Property as provided in this Agreement and receive an assignment of any insurance proceeds Seller receives, or to which Seller is or may become entitled, with respect to such Material Loss upon Seller's receipt of such proceeds. The parties acknowledge and agree in
No Material Loss. Neither the Borrower nor any Guarantor shall have sustained any loss or interference with respect to its businesses or properties from fire, flood, hurricane, accident or other calamity, whether or not covered by insurance, or from any labor dispute or any legal or governmental proceeding which could reasonably be expected to have a Material Adverse Effect.
No Material Loss. Neither the Company nor any of its subsidiaries has sustained since the date of the latest audited financial statements included in the Prospectus any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Prospectus; and, since the respective dates as of which information is given in the Registration Statement and the Prospectus, there has not been any change in the capital stock or long-term debt of the Company or any of its subsidiaries or any material adverse change, or any development that may cause a prospective material adverse change, in or affecting the general affairs, management, financial position, stockholders' equity or results of operations of the Company and its subsidiaries, otherwise than as set forth or contemplated in the Prospectus.
No Material Loss. Since January 1, 1997, Seller has not suffered or been threatened with any material loss of any Included Assets and has not entered into any material transaction related to the Included Assets.
No Material Loss. To Seller’s Knowledge, no Material Loss or event that, with the lapse of time or the making of a determination, reasonably could be expected to become a Material Loss, has occurred or is in existence on such Closing Date in respect of the relevant Aircraft.
No Material Loss. Neither the Company nor any Significant Subsidiary has sustained since the date of the latest audited financial statements included in the Prospectus any material loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Prospectus; and, since the respective dates as of which information is given in the registration statement of which the Prospectus forms a part (the “Registration Statement”) and the Prospectus, and there has not been (i) any change in the capital stock or members’ equity, as applicable, or long-term debt of the Company or any of its subsidiaries or (ii) any Material Adverse Effect.
No Material Loss. Neither the Company nor any of its subsidiaries has sustained, since the date of the latest audited financial statements included in the Base Prospectus, the Prospectus Supplement or the Registration Statement, or incorporated by reference therein, as the case may be, any material loss or interference with its business from fire, explosion, flood, terrorist act or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth in or contemplated by the Base Prospectus and the Prospectus Supplement.