Constructive Total Loss definition

Constructive Total Loss shall have the meaning ascribed to it in the Contract.

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Constructive Total Loss means that condition of the described motor vehicle that exists when it might be feasible to repair the described motor vehicle but the cost of repairs to the described motor vehicle exceeds the net actual cash value of the described motor vehicle as the condition of that vehicle was immediately prior to the occurrence of the loss or damage for which indemnity is afforded by this endorsement;

Constructive Total Loss means any event which is determined by the underwriters under the FSRU Owner’s hull and machinery insurance policy (excluding any “total loss only” coverage) to be constructive, compromised or arranged total loss of the FSRU for the purposes of such policy.

Examples of Constructive Total Loss in a sentence

• After the occurrence of any Termination Event or Mandatory Prepayment Event while it is continuing or after termination of leasing of the Ship to the Lessee pursuant to clause 18.1 or, as the case may be, clause 18.2 the Lessor alone shall have the right to settle, compromise or abandon any claims under the Insurances and/or give notice of abandonment of the Ship to the Insurers and/or claim a Constructive Total Loss.

• LESSOR may sign any required release in lieu of the Insured in the event of a Total Loss, Constructive Total Loss or Arranged Total Loss.

• In the event the first Satellite is a Constructive Total Loss or Total Loss, the requirements of this paragraph (a) shall apply to the second Satellite.

• Unless otherwise elected by CAI, title to the Constructive Total Loss container will remain with CAI.

• If Lessee elects the latter, Lessee shall give notice to CAI of its election to declare Constructive Total Loss within 7 calendar days of receipt of the details of the DRV and CAI will issue an invoice for the DRV of such Constructive Total Loss container.

More Definitions of Constructive Total Loss

Constructive Total Loss means that more than (***) percent ((***)%) of the Transponders are no longer Successfully Operating Transponders. This definition shall be modified, with effect as of the date notified by Customer to Boeing, to reflect the definition of “constructive total loss” in the Launch and In-Orbit Insurance Policy covering loss of or damage to the Satellite.

Constructive Total Loss means a loss where the cost to repair damage to “your covered auto” will exceed the agreed value of the vehicle when fully repaired.

Constructive Total Loss means the direct and accidental damage to or theft of the Collateral which meets one of these criteria; 1) Either the total cost to repair the Collateral is greater than or equal to the ACV of the Collateral immediately prior to the date of Loss; or 2) The Collateral is stolen and is not recovered within 30 days from the date a police report is filed.

Constructive Total Loss means the estimate for repair of damage is higher than the actual cash value of the

Constructive Total Loss means We have determined that the cost to recover and repair the Insured Vessel as the result of an Occurrence would exceed the lesser of the amount of insurance set forth on the Declarations Page, or the Actual Cash Value, and that We in our sole discretion have declared that the Insured Vessel is a Constructive Total Loss.

Constructive Total Loss means for NSS 7 the Satellite suffers or will suffer Transponder Failure resulting in a loss of seventy-five percent (75%) or more of its Transponder Unit Years, relative to the maximum number of Transponder Years as set forth in Definition 2 (Transponder Unit-Year).

Constructive Total Loss means that the cost to recover and/or repair the Insured Vessel exceeds the amount of insurance set forth on the Declarations Page or the Actual Cash Value, whichever is the lesser.