Brands and Labels Clause Samples

Brands and Labels. In the event of direct physical loss or damage arising out of a “breakdown” to “insured property” bearing a “brand”, the sale of which carries or implies the guarantee or the responsibility of the Insured or the manufacturer, the Insurer will pay the cost of removing or re-identifying the “brand” from such damaged “insured property”. Any salvage of such damaged “insured property” will not be disposed of by sale without the Insured’s consent. If removing or re-identifying of the “brand” is not possible or is impractical, the Insurer will pay the cost to dispose of the damaged “insured property”. The Insured shall have the right to dispose of the salvage in the manner it considers appropriate. If the salvage of the damaged “insured property” is not disposed of by sale by the Insurer, the Insured will allow the Insurer to deduct the salvage value from the amount payable to the Insured. Salvage value will be determined as the value that could have been realized after removal or re-identifying of the “brand”.

Brands and Labels. If branded or labeled merchandise that is Covered Property is damaged by a Covered Cause of Loss, but retains a salvage value, the Member District may: a. Stamp the word SALVAGE on the merchandise or its containers if the stamp will not physically damage the merchandise; or b. Remove the brands or labels, if doing so will not physically damage the merchandise. The Member District must re-label the merchandise or its containers to comply with the law. The CSD Pool will pay for any reduction in value of the salvage merchandise resulting from either of these two actions listed in 3.a. or b. above, subject to all applicable limits. The CSD Pool will also pay the reasonable and necessary expenses the Member District incurs to perform either of the two actions described in 3.a. or b. above. The CSD Pool will pay for such expenses to the extent that they do not exceed the amount recoverable from salvage. If a Brands and Labels Limit is shown on the Member District’s Equipment Breakdown Declarations, the CSD Pool will not pay more than the indicated amount for coverage under this Condition.

Brands and Labels. If branded or labeled merchandise that is Insured Property is damaged as a direct result of a Breakdown or Electronic Circuitry Impairment, but retains a salvage value, you may: (a) stamp the word SALVAGE on the merchandise or its containers if the stamp will not physically damage the merchandise; or (b) remove the brands or labels, if doing so will not physically damage the merchandise. You must re-label the merchandise or its containers to comply with any applicable law. We will pay for the reasonable and necessary expenses you incur to perform either of these two actions to the extent that they do not exceed the amount recoverable from salvage We shall not be liable for loss under this coverage if coverage is provided by any other policy of insurance in effect at the time of the loss whether collectable or not. In no event shall we be liable for loss in excess of $100,000.

Brands and Labels. This Extension applies in the event of loss or damage (arising out of a “Breakdown”) to “Insured Property” bearing a brand name or trademark. The salvage value of such damaged “Insured Property” is determined after removal (in the customary manner) of all such brands or trademarks or other identifying characteristics. Insurance under this Form is extended to insure, up to a maximum of $100,000.00, the cost of removal of such brands, trademarks or other identifying characteristics (provided that such removal will not physically damage the “Insured Property”) prior to the sale, as salvage, of such “Insured Property “ damaged by a “Breakdown”; in accordance with value established by the Insurer during loss adjustment. Such limit is part of and is not in addition to the Limit of Insurance for this Form.

Brands and Labels. If branded or labeled merchandise that is Insured Property is damaged as a direct result of a Breakdown or Electronic circuitry Impairment but retains a salvage value, the Insured may: a. stamp the word SALVAGE on the merchandise or its containers if the stamp will not physically damage the merchandise; or b. remove the brands or labels, if doing so will not physically damage the merchandise. The Insured must re-label the merchandise or its containers to comply with any applicable law. The Company will pay for the reasonable and necessary expenses the Insured incurs to perform either of these two actions to the extent that they do not exceed the amount recoverable from salvage The Company shall not be liable for loss under this Coverage if coverage is provided by any other policy of insurance in effect at the time of the loss whether collectable or not. In no event shall the Company be liable for loss in excess of $100,000.

Brands and Labels. This Coverage Extension 14 applies in the event of loss or damage (arising out of an "Accident") to insured property bearing a brand name or trademark. The salvage value of such damaged insured property is determined after removal (in the customary manner) of all such brands or trademarks or other identifying characteristics. Insurance under this policy is extended to insure, up to a maximum of $100,000.00, the cost of removal of such brands, trademarks or other identifying characteristics (provided that such removal will not physically damage the insured property) prior to the sale, as salvage, of such insured property damaged by an "Accident"; in accordance with value established by the Insurer during loss adjustment.

Brands and Labels. If branded or labeled property covered by this Agreement is physically damaged and IRMA elects to take all or any part of that property, the Named Member may at IRMA’s expense: 1) Stamp "salvage" on the property or its containers; or 2) Remove or obliterate the brands or labels; if doing so will not damage the property. In either event, the Named Member must relabel such property or its containers to be in compliance with any applicable law.

Brands and Labels. If the Insurer exercises its option to take all or any part of the Stock involved in a loss, the Insured reserves the right to first remove their trademarks, guarantees, names or other evidence of their interest or connection from the Stock. Where the removal of such marks is impossible or impractical, the Stock may be stamped salvage and/or transferred to bulk containers with the cost to be borne by the Insurer. This extension is limited to a maximum recovery as shown on the Declaration Pages in any one occurrence.

Brands and Labels. In the event of damage to covered property carrying a brand name, trade mark or label or where the sale of such property in any way carries a guarantee or where the sale of such property might have an adverse effect upon the market value of similar property, this cover extends to include the cost of removing all such brand names, trademarks, labels or guarantees before disposal and determination of the value of the salvage. It is further agreed that, in respect of any containers from which the brand name, trade mark, label or guarantee cannot be removed, the contents shall be removed to plain containers. In the event of damage to labels or names, the amount payable shall be the cost of relabeling or reconditioning the property.