Lost IBCs Sample Clauses

Lost IBCs. As used herein, (i) a “Third Party IBC” is an IBC owned by Customer or a third party that is the subject of Cleaning Services under this Agreement, and (ii) a “First Party IBC” is an IBC leased to Customer by ▇▇▇▇▇▇ that is the subject of the Cleaning Services under this Agreement. If Customer fails to receive a cleaned and returned IBC duly delivered to ▇▇▇▇▇▇ according to the signed ▇▇▇▇ of Lading, Customer shall notify ▇▇▇▇▇▇ in writing within twenty-four (24) hours of discovery of the loss. If ▇▇▇▇▇▇ is unable to produce a ▇▇▇▇ of Lading which shows that said IBC was delivered to an approved shipper/carrier for return to the Customer, or otherwise locate the IBC in question within seventy-two (72) hours of receipt of such notice from Customer, then either: (a) if such IBC is a Third Party IBC, then Customer shall be entitled to invoice ▇▇▇▇▇▇ for the depreciated replacement value of such Third Party IBC, and ▇▇▇▇▇▇ shall pay such invoice within thirty (30) days of receipt thereof, or (b) if the IBC is a First Party IBC, then ▇▇▇▇▇▇ shall replace such IBC with an IBC of like kind and condition as soon as reasonably possible.