Common use of Loss replacement Clause in Contracts

Loss replacement. To replace or repair as promptly as possible any machinery regularly rented by the renter from the owner that may be destroyed or damaged by fire, flood, or other cause beyond the control of the renter or to make rental adjustments in lieu of replacements.

Loss replacement. To replace or repair as promptly as possible any machinery regularly rented building or equipment leased by the renter operator from the owner that may be destroyed or damaged by fire, flood, flood or other cause beyond the control of the renter operator or to make rental adjustments in lieu of replacements.