Determination of Replacement Value. The “full replacement value” of the building and other improvements to be insured under paragraph 14.7 shall be determined by the company issuing the insurance policy at the time the policy is initially obtained. Not more frequently than once every 3 years, either party shall have the right to notify the other party that it elects to have the replacement value redetermined by an insurance company. The redetermination shall be made promptly and in accordance with the rules and practices of the Board of Fire Underwriters, or a like board recognized and generally accepted by the insurance company, and each party shall be promptly notified of the results of the company. The insurance policy shall be adjusted according to the redetermination.
Determination of Replacement Value. (a) As used herein, "
Determination of Replacement Value. (a) To determine the Replacement Value, the Non-Defaulting Party shall in good faith calculate its Gains, Losses and Costs resulting from the termination of the Agreement.
Determination of Replacement Value. The "full replacement ---------------------------------- value" of the Building and other property to be insured under this Section 11 shall be determined by the company issuing the policy at the time the policy is initially obtained. Not more frequently than once every three years, either party shall have the right to notify the other party that it elects to have the replacement value redetermined by an insurance company. The redetermination shall be made promptly and in accordance with the rules and practice of the board of fire underwriters, or a like board recognized and generally accepted by the insurance company, and each party shall be promptly notified of the results by the company. The insurance policy shall be adjusted according to the redetermination.
Determination of Replacement Value
