Total Loss Event Sample Clauses

Total Loss Event. (a) In addition to Clause 2.2 (Termination), following the occurrence of a Total Loss Event: (i) if ASM elects by notice to the Facility Agent in accordance with Clause 4.4 of the Common Terms Agreement to apply any insurance proceeds receivable or received in or towards repair or reinstatement of the ASM Plant, this Agreement shall continue in full force and effect and the Processors shall continue to be obliged to perform their obligations under this Agreement for the remaining term of this Agreement; and (ii) if ASM elects not to apply any insurance proceeds receivable or received in or towards repair or reinstatement of the ASM Plant then such amount shall be applied in or towards prepayment of the Loan Facilities and: (A) if such insurance proceeds are applied in prepayment of the Loan Facilities in full, this Agreement shall immediately terminate; or (B) if such insurance proceeds are not sufficient to prepay the Loan Facilities in full, this Agreement shall continue in full force and effect until the Loan Facilities have been repaid in full.
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Total Loss Event. A Total Loss Event occurs.
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Total Loss Event. 6.1. From the Musharaka Commencement Date and for as long as the Forward Lease Agreement has not been terminated, the Managing Agent shall maintain insurances for all risks and in accordance with Schedule 2, for the full replacement value of the Asset and in any event for an aggregate amount of no less than the amount equal to the Bank’s Total Contribution from time to time. .ﺔﻴﻣﻼﺳﻻا ﺔﻌﻳﺮﺸﻟا مﺎﻜﺣأو ئدﺎﺒﻣ ﻊﻣ ﻰﻓﺎﻨﺘﺗ ﻻ ﺔﻘﻳﺮﻄﺑ ٣٫٢٫٣ ﺔﻘﺒـﺴﻣ ﺔـﺑﻮﺘﻜﻣ ﺔـﻘﻓاﻮﻣ ựـﺟﻮﻤﺑ ،ﻦـﻃﺎﺒﻟا ﻦـﻣ ﺪـﻗﺎﻌﺘﻟا ةراد ا ﻞـﻴﻛﻮﻟ زﻮـﺠﻳ ٣٫٣ ةراد ا ﻞـﻴﻛو ﻞـﻤﺤﺘﻳ نأ iﻤـﺋاد طﺮﺘـﺸﻳو ،ﺚـﻟﺎﺛ فﺮـﻄﻟ تﺎـﻣﺪﺧ يأ ﻰـﻠﻋ ،ﻚـﻨﺒﻟا ﻦـﻣ ﻦــﻴﻟوﺎﻘﻤﻟا ءﻻﺆــﻫ ﻞــﺒﻗ ﻦــﻣ ﺎــﻫﺬﻴﻔﻨﺗ ﻢــﺘﻳ لﺎــﻤﻋأ يأ ﻦــﻋ Iدﺮــﻔﻨﻣ ﺔﻴﻟﻮﺌــﺴﻤﻟا ةراد ا ﻞـﻴﻛو ﻲـﻔﻌﻳ ﻻ ﻦـﻴﻟوﺎﻘﻤﻟا ءﻻﺆـﻫ ﻰـﻟإ ﻪـﻴﻟإ رﺎـﺸﻣ ﺾـﻳﻮﻔﺗ يأ نأو ﻦـﻴﻴﻋﺮﻔﻟا .ﺔﻴﻗﺎﻔﺗﻻا هﺬﻫ ựﺟﻮﻤﺑ ﻪﺗﺎﻴﻟﻮﺌﺴﻣو ﻪﺗﺎﻣاﺰﺘﻟا ﻦﻣ ﻞــﺒﻗ ﺔــﻣﺬﻟا ﻲــﻓ ﺔــﻓﻮﺻﻮﻤﻟا ةرﺎــﺟ ا ﺔــﻴﻗﺎﻔﺗا ءﺎــﻬﻧإ هﺪــﻨﻋ ﻢــﺘﻳ يﺬــﻟا ﺪــﺤﻠﻟ ٤٫٣ ﺔــﺒﺟاو ﺔﻘﺒــﺴﻣ رﺎــﺠﻳإ تﺎــﻋﻮﻓﺪﻣ يأ ﺢــﺒﺼﺗ نأ ﻞــﺒﻗو لوﺪــﺠﻤﻟا زﺎــﺠﻧ ا ﺦــﻳرﺎﺗ ﺔــﻓﻮﺻﻮﻤﻟا ةرﺎــﺟ ا ﺔــﻴﻗﺎﻔﺗا ựــﺟﻮﻤﺑ ﺮــﺟﺆﻤﻟا ﻪــﺘﻔﺼﺑ) ﻚــﻨﺒﻟا ﻞــﺒﻗ ﻦــﻣ دادﺮﺘــﺳﻻا ﻢــﻳﺪﻘﺗ ﻲــﻓ ﻞــﺸﻓ ﺪــﻗ ﺬــﺋﺪﻨﻋ ةراد ا ﻞــﻴﻛو ﺮــﺒﺘﻌﻳو ،ﻞــﻴﻤﻌﻟا ﻰــﻟإ (ﺔــﻣﺬﻟا ﻲــﻓ تاﺪﻨﺘـﺴﻣو لﻮـﺻ ا تﺎـﻔﺻاﻮﻤﻟ iﻘـﻓو لﺎـﻤﻋ ﺎﺑ مﺎـﻴﻘﻟا صﺎـﺧ ﻞﻜـﺸﺑو) تﺎـﻣﺪﺨﻟا ﺾــﻳﻮﻌﺘﺑ رﻮــﻔﻟا ﻰــﻠﻋ مﺎــﻴﻘﻟا ﻪــﻴﻠﻋ ựــﺠﻳو لوﺪــﺠﻤﻟا زﺎــﺠﻧ ا ﺦــﻳرﺎﺗ ﻲــﻓ (عوﺮــﺸﻤﻟا .ءﺎﻬﻧ ا ﺾﻳﻮﻌﺗ ﻎﻠﺒﻣ لدﺎﻌﻳ ﻎﻠﺒﻤﺑ ﻚﻨﺒﻟا صﺎــﺨﻟا بﺎــﺴﺤﻟا ﻰــﻠﻋ ﺔﻛرﺎــﺸﻤﻠﻟ ﻞﻴﻐــﺸﺘﻟا ﻒــﻴﻟﺎﻜﺘﻟا ﺪــﻴﻘﺗُ نأ ựــﺠﻳ ٥٫٣ ﺔــﻧﻮﻤﻀﻤﻟا ﺔــﻐﻴﺼﻟﺎﺑ ﻚــﻨﺒﻠﻟ ﺎــﻬﻤﻳﺪﻘﺗو ﺔﻘﺒــﺴﻤﻟا طوﺮــﺸﻟﺎﺑ ءﺎــﻓﻮﻟا رﻮــﻓ ١٫٤ ﻰـﻠﻋ لﻮـﺼﺤﻟا ﻲـﻓ ﻪـﻘﺣ ﻦـﻋ ﻚـﻨﺒﻟا لزﺎـﻨﺘﻳ ﺎـﻣﺪﻨﻋ وأ ﻚـﻨﺒﻟا ﻰـﻟإ ﺔﺒـﺴﻨﻟﺎﺑ ﺔـﻟﻮﺒﻘﻤﻟا وأ لﻮـﺒﻘﻟا ﻢـﺗ ﻪـﻧﺄﺑ ةراد ا ﻞـﻴﻛو رﺎـﻄﺧإ ﻚـﻨﺒﻟا ﻰـﻠﻋ ựـﺠﻳ ﻪـﻧﺈﻓ ، ﺔﻘﺒـﺴﻣ طوﺮـﺷ يأ .ﺔﻘﺒﺴﻤﻟا طوﺮﺸﻟا ﻦﻋ لزﺎﻨﺘﻟا ựــﻠﻃ ﻪــﻤﻳﺪﻘﺗ ﺪــﻌﺑ ﻂــﻘﻓ ﺔــﻴﻠﺣﺮﻤﻟا ﺔــﻌﻓﺪﻟا ựــﻠﻃ ةراد ا ﻞــﻴﻛﻮﻟ ﻖــﺤﻳ ٢٫٤ ﻞـﻤﻋ مﺎـﻳأ (٥) ﺔـﺴﻤﺧ ﻦـﻋ ﻞـﻘﺗ ﻻ ةﺮـﺘﻓ لﻼﺧ ﻚـﻨﺒﻟا ﻰـﻟإ ﺰـﺠﻨﻤﻟا ﺔـﻴﻠﺣﺮﻤﻟا ﺔـﻌﻓﺪﻟا ﻢــﺗ ﺮــﺧآ ﺖــﻗو ﻲــﻓ وأ ،بﻮــﻠﻄﻤﻟا ﺔــﻴﻠﺣﺮﻤﻟا ﺔــﻌﻓﺪﻟا ﻰــﻠﻋ لﻮــﺼﺤﻟا ﺦــﻳرﺎﺗ ﻞــﺒﻗ لﻮـﺻ ا هﺬـﻫ حﻼﺻإ وأ ﻢـﻴﻣﺮﺘﻟ ﺪـﺋاﻮﻌﻟا هﺬـﻫ ﻖـﻴﺒﻄﺗ يراد ا ﻞـﻴﻛﻮﻟا ﻰـﻠﻋ ựـﺠﻳ ٢٫٥ ﺪـﺋاﻮﻌﻟا ﻚـﻠﺗ نأ ﺔـﻟﺎﺣ ﻲـﻓو .ﺪـﺋاﻮﻌﻟا هﺬـﻫ مﻼﺘـﺳا ﺦـﻳرﺎﺗ ﻦـﻣ ﺮﻬـﺷأ (٣) ﺔـﺛﻼﺛ لﻼﺧ ﻞــﻴﻛﻮﻟا ﻰــﻠﻋ ựــﺠﻳ ﻪــﻧﺈﻓ ، لﻮــﺻ ا حﻼﺻإ وأ ﻢــﻴﻣﺮﺗ ﻒــﻴﻟﺎﻜﺗ ﺔــﻴﻄﻐﺘﻟ ﺔــﻴﻓﺎﻛ ﺮــﻴﻏ .ﺺﻘﻨﻟا اﺬﻫ ﺔﻴﻄﻐﺗ يراد ا ﺮﻬـﺷأ (٣) ﺔـﺛﻼﺜﻟا ةﺮـﺘﻓ ءﺎـﻬﺘﻧا ﺪـﻌﺑ رﻮـﻔﻟا ﻰـﻠﻋ مﺎـﻴﻘﻟا ةراد ا ﻞـﻴﻛو ﻰـﻠﻋ ựـﺠﻳ ٣٫٥ لﻮــﺻأ حﻼﺻإ وأ ﻢــﻴﻣﺮﺗ ﻲــﻓ مﺪﺨﺘــﺴﺗ ﻢــﻟ ﻲــﺘﻟا ،ﻎــﻟﺎﺒﻤﻟا ﻚــﻠﺗ ماﺪﺨﺘــﺳا تﺎـﻌﻓد داﺪـﺳ ﺦـﻳرﺎﺗ ﻲـﻓ ﻚـﻨﺒﻠﻟ ﺔـﻌﺑﺎﺘﻟا ﺔﻛرﺎـﺸﻤﻟا تاﺪـﺣو ءاﺮـﺷ ﻲـﻓ ،ﺔﻛرﺎـﺸﻤﻟا .ءاﺮﺸﻟﺎﺑ ﺪﻬﻌﺘﻟا طوﺮﺸﻟ iﻘﻓو ةﺮﺷﺎﺒﻣ ﺔﻴﻟﺎﺘﻟا ﺔﻛرﺎﺸﻤﻟا (تاﺪﺣو) ةﺪﺣو ﻦــﻴﻣﺄﺗ ﺔـ...
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Total Loss Event. (a) If the Leased Yacht suffers a Total Loss Event, the lease thereof shall immediately terminate, and the Lessee shall be immediately liable to pay to the Lessor forthwith a Lease Termination Sum in respect of the Leased Yacht. (b) Payment of such sum may be satisfied by the receipt of the relevant insurance proceeds in respect of the Leased Yacht, provided that if the amount of such insurance proceeds shall be less than the applicable Lease Termination Sum then the Lessee shall indemnify the Lessor in respect of the amount of such deficiency and until such time as the Lessor has received an amount equal to the applicable Lease Termination Sum the obligations of the Lessee shall continue in all respects under this Finance Lease and the Lessee shall, in particular, continue to be liable to make Rental Payments. (c) In the event that the relevant insurance proceeds exceed the applicable Lease Termination Sum, then any excess shall be paid by the Lessor to the Lessee by way of a rebate of Rental Payments. (d) Upon settlement being made in full under this clause 15.6 (Total Loss Event), the Lessor shall transfer to the relevant insurer or the Lessee (if applicable) the ownership of (or any residual rights to) the Leased Yacht in their then existing condition together with whatever legal rights (if any) that the Lessor may have against third parties in respect of the Leased Yacht, provided however that the Lessor shall not in any way be responsible for the working condition, function or quality of the Leased Yacht or the financial ability of any such third parties (nor shall the Lessor be deemed to have made any representation or warranties whatsoever as to the validity of any such transfer or the ability to sustain any such claims at law).
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Total Loss Event. If there is a Total Loss Event, Seller shall have cured such Total Loss Event pursuant to Section 6.07.
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Total Loss Event. (a) In respect of any Total Loss Event that occurs at any time with respect to a Mortgaged Vessel (the Mortgaged Vessel suffering such Total Loss Event being the “Lost Mortgaged Vessel”), within 365 days (subject to extension as provided herein) after the receipt of any Total Loss Event Proceeds, the Issuer or the applicable Subsidiary shall: (1) apply an amount equal to such Total Loss Event Proceeds to: (A) repay or prepay obligations under the New Term Loan Facility or any other Indebtedness to the extent that such obligations rank super-senior to the Notes and any additional Notes under the Intercreditor Agreement; (B) acquire one or more Vessels and Related Assets thereof and make such Vessels and Related Assets subject to a first-priority Lien in accordance with Section 11.09; or (C) (I) redeem or repurchase Notes pursuant to the provisions in Section 3.07, a Total Loss Event Offer described below, open market purchases and/or privately negotiated transactions or otherwise or (II) repay or prepay any other Indebtedness that ranks pari passu with the Notes or the Guarantees; (2) enter into a binding commitment to apply all or part of the Total Loss Event Proceeds pursuant to clause (B) above or make a determination in good faith to potentially apply all or a portion of such Total Loss Event Proceeds towards the exercise of an outstanding Vessel Purchase Option Contract, provided that such binding commitment or determination shall be treated as a permitted application of the Net Proceeds from the date thereof until the earlier of (x) the date on which such acquisition or expenditure is consummated, (y) the date such Vessel Purchase Option Contract terminates or expires and (z) the 365th day following the expiration of the aforementioned 365-day period; and/or (3) any combination of the foregoing. provided that during such 365-day period (or any extension thereof pursuant to clause (2) above) and pending the final application of any Total Loss Event Proceeds in accordance with this Section 4.21(a) or Section 4.21(c), such Total Loss Event Proceeds shall be deposited in a Collateral Account charged with a first priority Lien in favor of the Holders and constitute Collateral, subject to release in accordance with the provisions of the Intercreditor Agreement. (b) Notwithstanding the foregoing, the Issuer may elect to repay or redeem Indebtedness or make an acquisition or otherwise apply cash in accordance with clauses (1), (2) or (3) of Section 4.21(a) ab...
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Total Loss Event. (a) If, prior to the Closing, there is an event or occurrence that, individually or in the aggregate with other circumstances, matters, events or occurrences, would reasonably be expected to result in more than fifty percent (50%) of the total installed manufacturing capacity at the EFK Facility becoming inoperable for a period of six (6) consecutive months (a “Total Loss Event”), and such Total Loss Event would reasonably be expected to be capable of being cured within eighteen (18) months after such Total Loss Event (the “Maximum Cure Period”) but prior to June 30, 2024, Seller and Seller Insurance Affiliate shall use their respective commercially reasonable efforts to cure such Total Loss Event (including Seller and Seller Insurance Affiliate (i) making claims upon all their respective property and casualty insurance policies that may cover losses in respect of such Total Loss Event (the “Total Loss Event Policies”), (ii) utilizing insurance proceeds received or receivable by Seller and Seller Insurance Affiliate with respect to the Total Loss Event Policies equal to at least the lesser of (A) the amount required to cure such Total Loss Event and (B) $750,000,000 (such amount, plus the aggregate amount of any deductible or retention payments payable under the Total Loss Event Policies, the “Total Loss Event Cap”), and (iii) paying all deductibles and retention payments under the Total Loss Event Policies in respect of such Total Loss Event). To the extent that the Total Loss Event Cap is not sufficient to cure the Total Loss Event, Buyer may, in its sole discretion (x) terminate this Agreement in accordance with Section 10.01(d)(ii) or (y) agree to pay the difference in excess of the Total Loss Event Cap to cure such Total Loss Event. Each of Seller and Seller Insurance Affiliate shall maintain all its insurance policies covering the EFK Facility and assets and properties related thereto in existence on the date hereof, in each case with terms no less favorable than those in existence on the date hereof and without (w) change in beneficiary, (x) lapse in coverage or (y) material increase in required deductibles or retention payments. Buyer shall maintain insurance policies adequate to cover losses related to the Consigned Tools (as such term is defined in the FTSA Attachment No.1) and shall apply any proceeds from such policies received in connection with any Total Loss Event to mitigate such losses; provided that such application of proceeds shall not ...
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Related to Total Loss Event

  • Total Loss An Event of Loss shall occur resulting in the actual or constructive total loss of the Vessel or the agreed or compromised total loss of the Vessel and the proceeds of the insurance in respect thereof shall not have been received within 150 days of the event giving rise to such Event of Loss; or

  • Risk of Loss/Condemnation Upon an occurrence of a casualty, condemnation or taking with respect to any Property, Seller shall notify Buyer in writing of same. Until Closing, the risk of loss or damage to the Property, except as otherwise expressly provided herein, shall be borne by Seller. In the event all or any portion of any Property is damaged in any casualty or condemned or taken (or notice of any condemnation or taking is issued) so that: (a) Tenant has a right of termination or abatement of rent under the Lease for such Property, or (b) with respect to any casualty, if the cost to repair such casualty would exceed $50,000, or (c) with respect to any condemnation, any Improvements or access to the Property or more than five percent (5%) of the Property is (or will be) condemned or taken, then, Buyer may elect to terminate this Agreement with respect to each such Property by providing written notice of such termination to Seller within ten (10) business days after Buyer’s receipt of notice of such condemnation, taking or damage, upon which termination a proportionate part of the ▇▇▇▇▇▇▇ Money shall be returned to the Buyer in accordance with the Purchase Price as set forth on Exhibit A1 and neither party hereto shall have any further rights, obligations or liabilities under this Agreement with respect to such Property, except as otherwise expressly set forth herein. With respect to any condemnation or taking (of any notice thereof), if Buyer does not elect to cancel this Agreement as aforesaid, there shall be no abatement of the Purchase Price and Seller shall assign to Buyer at the Closing the rights of Seller to the awards, if any, for the condemnation or taking, and Buyer shall be entitled to receive and keep all such awards. With respect to a casualty, if Buyer does not elect to terminate this Agreement with respect to any such Property or does not have the right to terminate this Agreement as aforesaid, there shall be no abatement of the Purchase Price and Seller shall assign to Buyer at the Closing the rights of Seller to the proceeds under Seller’s insurance policies covering such Property with respect to such damage or destruction (or pay to Buyer any such proceeds received prior to Closing) and pay to Buyer the amount of any deductible with respect thereto, and Buyer shall be entitled to receive and keep any monies received from such insurance policies.

  • Event of Loss Grantor shall at its expense promptly repair all repairable damage to any tangible Collateral. In the event that any tangible Collateral is damaged beyond repair, lost, totally destroyed or confiscated (an "Event of Loss") and such Collateral had a value prior to such Event of Loss of $25,000.00 or more, then, on or before the first to occur of (i) 90 days after the occurrence of such Event of Loss, or (ii) 10 Business Days after the date on which either Grantor or MLBFS shall receive any proceeds of insurance on account of such Event of Loss, or any underwriter of insurance on such tangible Collateral shall advise either Grantor or MLBFS that it disclaims liability in respect of such Event of Loss, Grantor shall, at Grantor's option, either replace the Collateral subject to such Event of Loss with comparable Collateral free of all liens other than Permitted Liens (in which event Grantor shall be entitled to utilize the proceeds of insurance on account of such Event of Loss for such purpose, and may retain any excess proceeds of such insurance), or pay to MLBFS on account of the Obligations an amount equal to the actual cash value of such Collateral as determined by either the applicable insurance company's payment (plus any applicable deductible) or, in absence of insurance company payment, as reasonably determined by MLBFS. Notwithstanding the foregoing, if at the time of occurrence of such Event of Loss or any time thereafter prior to replacement or payment, as aforesaid, an Event of Default shall have occurred and be continuing hereunder, then MLBFS may at its sole option, exercisable at any time while such Event of Default shall be continuing, require Grantor to either replace such Collateral or make a payment on account of the Obligations, as aforesaid.

  • Damage or Destruction Condemnation (a) The risk of loss, damage or destruction to the Property by fire or other casualty or the taking of all or part of the Property by condemnation or eminent domain or by an agreement in lieu thereof until the Closing is assumed by Seller, except to the extent otherwise provided in paragraph 6(d) of this Contract. (b) In the event that the Property shall have been damaged or destroyed, the cost of repair or restoration of which would, in Buyer's and Seller's reasonable determination, exceed the sum of One Hundred Thousand and 00/100 Dollars ($100,000.00) (the "Casualty Amount"), then at Buyer's election, Seller shall, unless Seller has previously repaired or restored the Property to its former condition, either (i) pay over or assign to Buyer, on delivery of the Deeds all amounts recovered or recoverable on account of any insurance, together with amounts equal to any deductibles thereunder, less any amounts reasonably expended by Seller for partial restoration, or (ii) direct Escrow Agent to return the Deposit to Buyer in which case all other obligations of the parties hereto shall cease and this Contract shall be void and without recourse to the parties hereto, except such liabilities and obligations as expressly survive termination of this Contract. If the Property, or any part thereof, suffers any damage, the cost of repair or restoration of which would, in Buyer's and Seller's reasonable estimation, be less than the Casualty Amount, then Buyer shall consummate the Closing, without reduction in the Purchase Price, and accept the assignment of all amounts recovered or recoverable on account of any insurance, together with the amount of any deductibles thereunder, less any amounts reasonably expended by Seller for partial restoration. (c) If all or any portion of the Property is taken by condemnation, eminent domain or by agreement in lieu thereof, or any proceeding to acquire, take or condemn all or part of the Property is threatened or commenced, Buyer may either terminate this Contract (in which event Buyer shall be entitled to a return of the Deposit) or purchase the Property in accordance with the terms hereof, without reduction in the Purchase Price, together with an assignment of Seller's right to any award paid or payable by or on behalf of the condemning authority. If Seller has received payments from the condemning authority and if Buyer elects to purchase the Property, Seller shall credit the amount of said payments against the Purchase Price at the Closing. (d) Seller shall immediately notify Buyer of any damage or destruction to the Property or any notice received by it or information or awareness acquired by it regarding the threatening of or commencement of condemnation or similar proceedings.

  • Return or Destruction Upon termination of this Agreement or upon any earlier written request by Sponsor at any time, Institution shall return to Sponsor, or destroy, at Sponsor’s option, all Confidential Information other than Study Data.