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Restoration
Restoration contract clause examples
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“Second Closing Restoration Cost” has the meaning set forth in [Section 5.12(c)].

If any property or asset of any Contributed Entity is damaged or destroyed (the “Initial Closing Casualty Items”) by casualty loss after the Execution Date and prior to the Initial Closing (an “Initial Closing Casualty Loss”), Crestwood shall prepare and deliver to CEGPS no later than 15 days following such event, a good faith and reasonable estimate of the sum of, without double-counting, # the cost of restoring (including by replacement) the Initial Closing Casualty Items to a condition substantially similar to its or their condition immediately prior to such Initial Closing Casualty Loss plus # the amount of any lost profits reasonably expected after the Initial Closing as a result of such Initial Closing Casualty Loss, in each case of the [foregoing clauses (i) and (ii)])], net of and after giving effect to (without double-counting): # the amount of any insurance proceeds reasonably expected to actually be received by the Contributed Entities as a result of the Initial Closing Casualty Loss (calculated net of reasonable third party out-of-pocket costs and expenses of such recoveries, including any costs or expenses attributable to increases in insurance premiums) and # any amounts actually expended by Crestwood or any of its Affiliates (including the Contributed Entities) to repair, replace or restore any assets or property subject to such Initial Closing Casualty Loss, provided that such repair, replacement and restoration efforts are reasonably satisfactory to CEGPS (such calculation, an “Initial Closing Restoration Cost Calculation”). If CEGPS reasonably objects to the Initial Closing Restoration Cost Calculation prepared by Crestwood and delivers a Notice of such objection to Crestwood within 10 days of receipt of the Initial Closing Restoration Cost Calculation prepared by Crestwood, then Crestwood shall cause an independent firm selected by Crestwood and reasonably acceptable to CEGPS to prepare, within a 20-day period, an alternative Initial Closing Restoration Cost Calculation which shall be final, conclusive and binding on the Parties (the “Initial Closing Restoration Cost”). If CEGPS fails to object to the Initial Closing Restoration Cost Calculation prepared by Crestwood within 10 days of having received such calculation, then the Initial Closing Restoration Cost Calculation prepared by Crestwood shall be deemed to be the Initial Closing Restoration Cost. If the Initial Closing or the Initial End Date is expected to occur prior to the finalization of the Initial Closing Restoration Cost, then the Initial Closing Date shall be extended, if necessary, to no earlier than the 15th Business Day after such Initial Closing Restoration Cost is finalized and the Initial End Date shall be extended to no earlier than the 17th Business Day after such Initial Closing Restoration Cost is finalized.

RESOLVED that the Wachovia Corporation Savings Restoration Plan (the “SRP”) is amended as follows:

Employer Retirement Restoration Account” shall mean the notional account described in Section 4.03 below.

DEFINED CONTRIBUTION RESTORATION PLAN FOR THE SAVINGS PLAN OF ENTERGY CORPORATION AND SUBSIDIARIES VIII

“Crestwood Pipeline East Restoration Cost” has the meaning set forth in [Section 5.12(b)].

Restoration – If a participant or beneficiary who has incurred a forfeiture of his accrued benefit under the provisions of this [Section 4.2(e)] makes a claim, at any time, for his forfeited accrued benefit, the plan administrator shall restore the participant's or beneficiary's forfeited accrued benefit to the same dollar amount as the dollar amount of the accrued benefit forfeited, unadjusted for any gains or losses occurring after the date of the forfeiture. During the plan year in which the participant or beneficiary makes the claim, the plan administrator shall make the restoration from forfeitures occurring in that plan year. If forfeitures are insufficient for the restoration, the employer shall make a contribution to the plan to satisfy the restoration. The plan administrator shall direct the trustee to distribute the participant's or beneficiary's restored accrued benefit to him not later than 60 days after the close of the plan year in which the plan administrator restores the forfeited accrued benefit.

Restoration Threshold” shall mean an amount equal to the lesser of $1,000,000 and five percent (5%) of the Outstanding Principal Balance.

Matching Restoration Credits shall be determined and credited as soon as administratively practicable following the end of the applicable Plan Year.

Section #(jj) of the Wachovia Corporation Savings Restoration Plan is amended effective January 1, 2020 to read in full as follows:

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