Material Problem definition

Material Problem means a material problem in a manufacturing or processing facility which (i) is unrelated to changes in Law, any attack, terrorist activity, vandalism, or act of public enemies, unfavorable weather conditions, or interruptions in utilities, (ii) is reasonably likely to result in a Consolidated Business Plan Deviation or a Consolidated EBITDA Default, and (iii) results in damages that are not at least eighty percent (80%) covered by insurance proceeds actually received by such affected Person.
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Material Problem means: (i) the Healer’s Healerverse Rating Scale drops below three stars from Seekers who are confirmed to have used the Healer’s Services;
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Material Problem means a problem with the Expansion Land itself which would make it commercially unreasonable for Landlord to acquire the Expansion Land, such as a material title problem which is not curable on or before the closing (e.g., lis pendens), environmental problems (e.g., groundwater contamination), and changes in zoning or building ordinances which would materially interfere with the construction of the Expansion Premises as outlined in Exhibit K. If any Material Problem arises during a due diligence period available to Landlord with respect to the Expansion Land, Landlord shall immediately notify Tenant of such Material Problem by telephone and in writing. Tenant shall have the right, at Tenant's option, to work with Landlord to determine whether or not a reasonable cure for such Material Problem can be effected at no cost or expense to Landlord. Landlord shall cooperate with Tenant to effect such reasonable cure and shall not disapprove any cure proposed by Tenant which is commercially reasonable and can be effected on or before the expiration of Landlord's due diligence period (as it may be extended as set forth hereafter). If Tenant so requests, ▇▇▇▇▇▇▇▇ will request an extension of any such due diligence period. If the seller of the Expansion Land requires the payment of a fee or an increased purchase price as a condition to granting an extension to the due diligence period, Landlord will not be required to agree to such condition unless Tenant agrees to pay such fee or such increased purchase price. Landlord and Tenant agree to use the procedures, appraisal process and time frames outlined on Exhibit C for the Expansion Premises. If Landlord is not Prime West Development, Inc., Landlord may retain a developer for the construction of the Expansion Premises, which developer shall work directly with Tenant subject to the written direction and approval of the Landlord. The Base Rental Rate for the Expansion Premises shall be calculated in the same manner, using the same methods as the Base Rental Rate for the Premises as described in Exhibit J. Exhibits E and H shall be applicable to the Expansion Premises. The time frames for the Construction Date, the Financing Contingency, and defined dates for construction and completion shall be calculated for the Expansion Premises using the same time frames as presently set forth in the Lease. Tenant acknowledges that the Landlord's option price for the Expansion Land is $4.00 per square foot and escalates by five perc...
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Examples of Material Problem in a sentence

  • Once the Threshold Amount has been reached for each repair, all additional Refrigeration System repairs with respect to such identified Refrigeration System problem shall be conclusively deemed to be a Major Material Problem.

  • If Healer’s account or its ability to book new appointments has been suspended for more than 30 days and Healer has still failed to pay the Cancellation Invoice(s), then it will be considered a Material Problem and resolved accordingly as outlined in Section 4.3.

  • Healerverse may terminate this Agreement and any active Healerverse Healer Account for cause, after 10 days written notice sent to the Healer about a Material Problem if the Material Problem is not addressed or remedied upon expiration of the 10 days.

Related to Material Problem

  • Material Project means the construction or expansion of any capital project of the Borrower or any of its Subsidiaries, the aggregate capital cost of which exceeds $25,000,000.

  • Material Property means all Real Property owned in fee in the United States by any Credit Party, in each case, with a fair market value of $7,425,000 (as determined by the Borrower in good faith) or more, as determined (i) with respect to any Real Property owned by any Credit Party on the Closing Date, as of the Closing Date, and (ii) with respect to any Real Property acquired by a Credit Party after the Closing Date, as of the date of such acquisition.

  • Material Properties means (a) those Mortgaged Properties designated on Schedule 3.12 as Material Properties and (b) each other Mortgaged Property with respect to which a Mortgage is granted pursuant to Section 5.11 after the Restatement Effective Date.

  • Material Plan means at any time a Plan or Plans having aggregate Unfunded Liabilities in excess of $100,000,000.

  • material hoist means a hoist used to lower or raise material and equipment, excluding passengers; "medical certificate of fitness" means a certificate contemplated in regulation 7(8);