Example ContractsClausesLoss of Collateral
Loss of Collateral
Loss of Collateral contract clause examples

The loss, theft, damage or destruction of any of the Collateral in an amount in excess of $1,000,000.00 in the aggregate for all such events during any Fiscal Year as determined by Administrative Agent in its sole discretion determined in good faith, or (except as permitted hereby) the sale, lease or furnishing under a contract of service of, any of the Collateral.

Loss of Collateral. There occurs any uninsured loss to any material portion of the Collateral; or

Loss of Collateral. There occurs any uninsured loss to any portion of the Collateral having a Value in excess of $10,000,0005,000,000; or

Extraordinary Loss. Promptly notify Secured Party in writing of any event (other than general market conditions) causing extraordinary loss or depreciation of the value of the Collateral and the facts with respect thereto.

Loss Notification. Collateral Parties shall promptly notify Agent of any single loss or event likely to give rise to a claim against an insurer for an amount in excess of ​ individually or ​ in the aggregate covered by the property related policies of insurance required to be maintained pursuant to Sections 1(a)-(b) of this [Schedule 8.4.1].

Casualty Loss. A standard mortgagee clause naming each Permitted Leasehold Mortgagee for which notice has been properly provided to Landlord pursuant to [Section 17.1(b)] hereof may be added to any and all insurance policies required to be carried by Tenant hereunder on condition that the insurance proceeds are to be applied in the manner specified in this ILEC Master Lease and the Permitted Leasehold Mortgage shall so provide; except that the Permitted Leasehold Mortgage may provide a manner for the disposition of such proceeds, if any, otherwise payable directly to the Tenant (but not such proceeds, if any, payable jointly to the Landlord and Tenant, to Landlord, or to the ILEC Facility Mortgagee) pursuant to the provisions of this ILEC Master Lease.

Net Loss. After giving effect to the special allocations set forth in [Section 1 of Exhibit C] of the Company Agreement and any special allocations required to be made pursuant to Sections 6.1.E, Net Loss shall be allocated:

Consequential Loss. Except as a consequence of death or personal injury caused by negligence, neither Party shall be liable to the other in contract, tort, negligence, breach of statutory duty or otherwise for any loss, damage, costs or expenses of any nature whatsoever incurred or suffered by the other or its Affiliates:

Loss of Note. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Note, and in case of loss, theft or destruction of indemnification in form and substance acceptable to the Company in its reasonable discretion, and upon surrender and cancellation of this Note, if mutilated, the Company shall execute and deliver a new Note of like tenor and date.

Loss Adjustment Expense” as used herein shall mean all costs and expenses allocable to a specific claim that are incurred by the Company in the investigation, appraisal, adjustment, settlement, litigation, arbitration, defense, disposition or appeal of a specific claim, including court costs and costs of supersedeas and appeal bonds, and including 1) pre‑judgment interest, unless included as part of the award or judgment; 2) post‑judgment interest; 3) legal expenses and costs incurred in connection with coverage questions and legal actions connected thereto, including Declaratory Judgment Expense; and 4) a pro rata share of salaries and expenses of Company field employees, and expenses of other Company employees who have been temporarily diverted from their normal and customary duties and assigned to the field adjustment of losses covered by this Contract. Loss Adjustment Expense does not include unallocated loss adjustment expense. Unallocated loss adjustment expense includes, but is not limited to, salaries and expenses of employees, other than # above, and office and other overhead expenses.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.