Common use of Repair and Replacement Clause in Contracts

Repair and Replacement. Company shall be responsible to Lessor for reasonable replacement costs, or reasonable repair costs of all Equipment which is lost, stolen, or damaged while in the care, custody and control of Company as a result of Company's sole negligence in accordance with paragraph 2 above, reasonable wear and tear excepted, using the Actual Cash Value of the Equipment at the time of such loss. Prior to repairing the Equipment, Lessor shall submit to Company at least three estimates, including at least one estimate from a repair facility designated by Company. In the event the Equipment is lost or stolen, Company shall file a police report.

Repair and Replacement. Company shall be responsible to Lessor for the lesser of reasonable replacement costs, or reasonable repair costs of all Equipment which is lost, stolen, or damaged while in the care, custody and control of Company as a result of Company's sole negligence in accordance with paragraph 2 above, reasonable wear and tear excepted, using the Actual Cash Value of the Equipment at the time of such loss. Prior to repairing the Equipment, Lessor shall submit to Company at least three estimates, including at least one estimate from a repair facility designated by Company. In the event the Equipment is lost or stolen, Company shall file a police report.

Repair and Replacement. Company shall be responsible to Lessor for reasonable replacement costs, or reasonable repair costs of all Equipment Prop(s) which is lost, stolen, or damaged while in the care, custody and control of Company as a result of Company's sole negligence in accordance with paragraph 2 above, reasonable wear and tear excepted, using the Actual Cash Value of the Equipment Prop(s) at the time of such loss. Prior to repairing the EquipmentProp(s), Lessor shall submit to Company at least three estimates, including at least one estimate from a repair facility designated by Company. In the event the Equipment Prop(s) is lost or stolen, Company shall file a police report.

Repair and Replacement. Company shall be responsible to Lessor for reasonable replacement costs, or reasonable repair costs of all Equipment Props which is lost, stolen, or damaged while in the care, custody and control of Company as a result of Company's sole negligence in accordance with paragraph 2 above, reasonable wear and tear excepted, using the Actual Cash Value of the Equipment Props at the time of such loss. Prior to repairing the EquipmentProps, Lessor shall submit to Company at least three estimates, including at least one estimate from a repair facility designated by Company. In the event the Equipment Props is lost or stolen, Company shall file a police report.

Repair and Replacement. Company shall be responsible to Lessor for the lesser of reasonable replacement costs, or reasonable repair costs of all Equipment Props which is are lost, stolen, or damaged while in the care, custody and control of Company as a result of Company's sole negligence in accordance with paragraph 2 above, reasonable wear and tear excepted, using the Actual Cash Value of the Equipment Props at the time of such loss. Prior to repairing the EquipmentProps, Lessor shall submit to Company at least three estimates, including at least one estimate from a repair facility designated by Company. In the event the Equipment is Props are lost or stolen, Company shall file a police report.