For Replacement Plans Sample Clauses

For Replacement Plans. (a) At Our sole option, We will replace Your Covered Product or the damaged part with a new or refurbished unit or part of like or similar quality. The replacement product or part may be of a future version or current edition of Your original product or part. (b) In cases where replacement is not possible, You will be paid the retail value of Your Covered Product not to exceed the Purchase Price, excluding sales tax, delivery, and handling. (c) Coverage for Your replacement product will require the purchase of a new Plan. (d) The limit of liability under the Replacement Plan is the value of the Covered Product at the time of purchase, excluding sales tax, delivery, and handling. This Plan shall expire upon the earliest of the term of coverage ending, the replacement of Your Covered Product, or issuance of a compensation check in lieu of replacement.