Define: Material Damage
Material Damage means damage exceeding a certain cost to repair, or requiring an extensive repair period, based on reasonable estimation
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Material Damage means damage exceeding a certain cost to repair, or requiring an extensive repair period, based on reasonable estimation.
Relevant Circumstances
- Property purchase transactions
- Entering a new lease agreement
- Filing insurance claims due to property damage
- Commencing a new construction project