Examples of Diminution in Value in a sentence
The Warrantor’s liability and obligations are limited to the repair, replacement, or payment of the reasonable cost of repair or replacement, or payment of the Diminution in Value of the Home of warranted items not to exceed an aggregate equal to the original sales price of the Home (as shown on the Home Enrollment Application (HEA)) or $3 million, whichever is lower.
This must occur prior to payment for the reasonable cost of repair, replacement, or Diminution in Value.
If a Major Structural Defect claim qualifies for coverage in years one (1) through ten (10), the Insurer has the right to choose to repair or replace, pay the reasonable cost of repair or replacement, or pay You the Diminution in Value of any covered Major Structural Defect.
The choice to repair or replace or make payments and determination of Diminution in Value is solely determined by the Warrantor.
Nothing herein shall impair or modify the application of section 507(b) of the Bankruptcy Code if the adequate protection provided to the Lender hereunder is insufficient to compensate for any Diminution in Value during the Cases.