Replacement Cost Terms Sample Clauses

Replacement Cost Terms a. The Replacement Cost Terms apply only to buildings covered under Coverages A and B that have a permanent foundation and roof. They do not apply to: 1) mobile homes whether or not on a permanent foundation; 2) window air-conditioners; 3) awnings and canopies; 4) antennas; 5) appliances; 6) carpets; 7) window coverings; and 8) tenant's improvements b. In determining the replacement cost, do not include the cost of: 1) excavations; 2) brick, stone, or concrete foundations; 3) piers and other supports which are below the surface of the ground inside the foundation walls; and 4) underground flues, pipes, wiring, and drains. c. When the cost to repair or replace exceeds the lesser of $2,500 or five percent of the limit on the damaged building, we do not pay for more than the actual cash value of the loss until repair or replacement is completed. You may make a claim for the actual cash value amount of the loss before repairs are made. A claim for an additional amount payable under these terms must be made within six months of whichever is the latest: 1) the last date on which you received a payment for the actual cash value; or 2) the date of entry of a final order by a court declaring your right to full replacement cost. d. If the limit on the damaged building is less than 80 percent of its replacement cost at the time of loss, the larger of the following amounts is used in applying the Loss Settlement Terms: 1) the actual cash value at the time of the loss; or 2) that part of the replacement cost of the damaged part which our limit on the building bears to 80 percent of the full current replacement cost of the building. e. If the limit on the damaged building is at least 80 percent of its replacement cost at the time of loss, the smaller of the following amounts is used in applying the Loss Settlement Terms: 1) the cost to repair or replace the damage on the same premises using materials of like kind and quality; or 2) the amount spent to repair or replace the damage.
Sample 1
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Replacement Cost Terms a) The Replacement Cost Terms apply only to property covered under Coverage A. b) If the damage is repaired or replaced within a reasonable time, the amount used in applying the “terms” under Our Limit is the actual cost to repair or replace the damage. c) If the damage is not repaired or replaced within a reasonable time, the smaller of the following amounts is used in applying the “terms” under Our Limit: (1) the cost to repair or replace the damaged part of the property with materials of like kind and quality, to the extent practical; or (2) the “actual cash value” of the damaged part of the property just before the loss.
Sample 1
Replacement Cost Terms a) The Replacement Cost Terms apply only to buildings covered under Coverage A and Coverage B that have a permanent foundation and roof. However, Replacement Cost Terms do not apply to: (1) window air conditioners; (2) awnings and canopies; (3) appliances; (4) carpets; or (5) antennas; whether or not attached to a building. b) If the “limit” that applies to the damaged building at the time of loss is less than 80% of its full replacement cost just before the loss, the larger of the following amounts is used in applying the “terms” under Our Limit: (1) the “actual cash value” of the damaged part of the building just before the loss; or (2) that part of the cost to repair or replace the damaged part, after application of any deductible, which the “limit” on the damaged building bears to 80% of its full replacement cost just before the loss. c) If the “limit” that applies to the damaged building at the time of loss is at least 80% of its full replacement cost just before the loss, the smaller of the following amounts is used in applying the “terms” under Our Limit: (1) the amount actually and necessarily spent to repair or replace the damaged building; or (2) the cost to repair or replace the damage: (a) using materials of like kind and quality; and (b) for like use. However, when a damaged building is rebuilt at another location, such cost is limited to the cost that would have been incurred if the building had been repaired or replaced at the location where the damage occurred. d) In determining the replacement cost, do not include the cost of: (1) excavations; brick, stone, or concrete foundations; piers; footings; or other structures or features that support all or part of the building that are: (a) below the undersurface of the lowest basement floor; or (b) below the surface of the ground inside the foundation walls, if there is no basement; and (2) underground flues, pipes, wiring, or drains. e) When the cost to repair or replace exceeds the lesser of $2,500 or 5% of the “limit” that applies to the damaged building, “we” will pay no more than the “actual cash value” of the loss until repair or replacement is completed. Once repair or replacement is completed, “we” will settle the loss as described in b) and c) above.
Sample 1
Replacement Cost Terms a) The Replacement Cost Terms apply only to buildings covered under Coverage A and Coverage B that have a permanent foundation and roof. However, Replacement Cost Terms do not apply to:
Sample 1

Related to Replacement Cost Terms

  • Replacement Cost The term “full replacement cost” as used herein shall mean the actual replacement cost of the Leased Property requiring replacement from time to time including an increased cost of construction endorsement, if available, and the cost of debris removal. In the event either party believes that full replacement cost (the then-replacement cost less such exclusions) has increased or decreased at any time during the Lease Term, it shall have the right to have such full replacement cost re-determined.

  • Boiler and Machinery Insurance The Owner shall have the option of purchasing and maintaining boiler and machinery insurance required by the Contract Documents or by law, which shall specifically cover such insured objects during installation and until final acceptance by the Owner. If purchased this insurance shall include interests of the Owner, Contractor, Subcontractors and Sub-subcontrators in the Work.

  • Insurance Terms and Conditions Company must maintain the following limits and coverages uninterrupted or amended through the term of this Agreement. In the event Company becomes in default of the following requirements, Authority reserves the right to take whatever actions it deems necessary to protect its interests. Required liability policies other than Workers’ Compensation / Employer’s Liability will provide that Authority, members of Authority’s governing body, and Authority’s officers, volunteers and employees are included as additional insureds.

  • 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.

  • Replacement Parts Replacement parts for goods purchased by Buyer are for the purpose of this Section defined as “Parts” (and are also considered “goods” under this Order). Unless specified otherwise by Buyer in writing, Supplier shall provide Parts (or upon Buyer’s written consent, an alternative replacement part that provides the same form, fit and function as the Part(s)) for a period of twenty (20) years after production of the goods (into which the applicable Parts are incorporated) ceases. Supplier shall continue to supply such Parts past the twenty (20) year period if Buyer orders at least twenty (20) Parts per year during such twenty-year period. The prices for any Parts purchased in the first two (2) years of the twenty-year period shall not exceed those prices in effect at the time production of the goods ceases, and no set up charges shall be permitted by Supplier or paid by Xxxxx during this two-year period. Thereafter, the prices for Parts shall be negotiated based on Supplier’s actual cost of production of such Parts plus any special packaging costs. No minimum order requirements shall apply unless the parties mutually agree in advance. After the end of the twenty-year period, Supplier shall continue to maintain in good working condition all Supplier-owned tooling required to produce the Parts and shall not dispose of such tooling without offering Buyer the right of first refusal to purchase such tooling.

  • Construction Contract; Cost Budget Prior to execution of a construction contract, Tenant shall submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the general conditions with Contractor (the “Contract”) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant’s Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the “Construction Budget”), which costs shall include, but not be limited to, the costs of the Architect’s and Engineers’ fees and the Landlord Coordination Fee. The amount, if any, by which the total costs set forth in the Construction Budget exceed the amount of the Tenant Improvement Allowance is referred to herein as the “Over Allowance Amount”. In the event that an Over-Allowance Amount exists, then prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with cash in an amount equal to the Over-Allowance Amount. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the total costs set forth in the Construction Budget have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs for such design and construction in excess of the total costs set forth in the Construction Budget shall be added to the Over-Allowance Amount and the total costs set forth in the Construction Budget, and such additional costs shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in items (i), (ii), (iii) and (iv) of Section 2.2.2.1 of this Tenant Work Letter, above, for Landlord’s approval, prior to Tenant paying such costs. All Tenant Improvements paid for by the Over-Allowance Amount shall be deemed Landlord’s property under the terms of the Lease.

  • MAINTENANCE, REPAIR, AND RULES Tenant will, at Tenant’s sole expense, keep and maintain the Property in a good, clean and sanitary condition and repair during the term of this Agreement and any renewal thereof. Tenant shall be responsible to make all repairs to the Property, fixtures, appliances, and equipment therein that may have been damaged by Tenant’s misuse, waste or neglect, or that of the Tenant’s family or visitors. Tenant agrees that no painting will be done on or about the Property without the prior written consent of Landlord. Tenant shall promptly notify Landlord of any damage, defect or destruction of the Property or in the event of the failure of any of the appliances or equipment. The Landlord will use their best efforts to repair or replace any such damaged or defective areas, appliances or equipment.

  • Construction Cost Budget The total cost to District of all elements of the Project designed or specified by the Architect, as adjusted at the end of each design phase in accordance with this Agreement. The Construction Cost Budget does not include the compensation of the Architect and the Architect’s Consultants, the cost of land, rights-of-way, financing or other costs which are the responsibility of the District, including construction management.

  • Deductibles and Self-Insurance Retentions Any deductibles or self-insured retentions must be declared to and approved by the City. The City may require the Consultant to provide proof of ability to pay losses and related investigation, claims administration and defense expenses within the deductible or self-insured retention. The deductible or self-insured retention may be satisfied by either the named insured or the City.

  • MAINTENANCE AND REPAIR; RULES Tenant will, at its sole expense, keep and maintain the Premises and appurtenances in good and sanitary condition and repair during the term of this Agreement and any renewal thereof. Without limiting the generality of the foregoing, Tenant shall: (a) Not obstruct the driveways, sidewalks, courts, entry ways, stairs and/or halls, which shall be used for the purposes of ingress and egress only; (b) Keep all windows, glass, window coverings, doors, locks and hardware in good, clean order and repair; (c) Not obstruct or cover the windows or doors; (d) Not leave windows or doors in an open position during any inclement weather; (e) Not hang any laundry, clothing, sheets, etc. from any window, rail, porch or balcony nor air or dry any of same within any yard area or space; (f) Not cause or permit any locks or hooks to be placed upon any door or window without the prior written consent of Landlord; (g) Keep all air conditioning filters clean and free from dirt; (h) Keep all lavatories, sinks, toilets, and all other water and plumbing apparatus in good order and repair and shall use same only for the purposes for which they were constructed. Tenant shall not allow any sweepings, rubbish, sand, rags, ashes or other substances to be thrown or deposited therein. Any damage to any such apparatus and the cost of clearing stopped plumbing resulting from misuse shall be borne by Tenant; (i) And Tenant's family and guests shall at all times maintain order in the Premises and at all places on the Premises, and shall not make or permit any loud or improper noises, or otherwise disturb other residents; (j) Keep all radios, television sets, stereos, phonographs, etc., turned down to a level of sound that does not annoy or interfere with other residents; (k) Deposit all trash, garbage, rubbish or refuse in the locations provided therefor and shall not allow any trash, garbage, rubbish or refuse to be deposited or permitted to stand on the exterior of any building or within the common elements; (l) Abide by and be bound by any and all rules and regulations affecting the Premises or the common area appurtenant thereto which may be adopted or promulgated by the Condominium or Homeowners' Association having control over them.

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