Impaired property definition

Impaired property means tangible property, other than "your product" or "your work", that cannot be used or is less useful because:

Impaired property means tangible property, other than "the Named Insured’s product" or "the Named Insured’s work", that cannot be used or is less useful because:

Impaired property means tangible property other than your product or your work: a. whose value has been decreased: 1) because it includes your product or your work that is, or is thought to be, defective, deficient or dangerous; or 2) because you failed to comply with the terms of a contract or agreement; and b. whose usefulness can be restored: 1) by the repair, replacement, adjustment or removal of your product or your work; or 2) by your compliance with the terms of the contract.

Examples of Impaired property in a sentence

• Impaired property, plant and equipment are depreciated net of accumulated impairment losses.

• This insurance is not permitted to include any type of exclusion or limitation of coverage applicable to claims arising from: ▪ Contractual assumption of liability; ▪ Impaired property that has not been physically injured; ▪ Materials supplied or handled by the named insured; ▪ Property damage to the work performed by the named insured; ▪ Punitive, exemplary, or multiplied damages; or work performed by subcontractors.

• Median filter is extensively used for smoothing and restoring images corrupted by noise.

• Impaired property, plant and equipment consists primarily of an idle bearing plant in Columbus, Ohio, certain leasehold improvements and equipment at the company's subsidiary in Brazil and steel mill assets which became excess as a result of the installation of a new continuous caster in 1993.

• Impaired property and equipment was comprised of purchased software that was written off because it was unusable and a printing press that was unable to meet printing quality standards.Foreign Currency Translation and TransactionsThe balance sheet accounts of the Company’s foreign subsidiaries are translated into U.S. dollars using the current exchange rate.

More Definitions of Impaired property

Impaired property means tangible property, other than your product or your work that cannot be used or is less useful because:

Impaired property means tangible property, other than your product or your work, that cannot be used or is less useful because it incorporates your product or your work that is known or thought to be defective, deficient, inadequate, or dangerous, or if such property can be restored to use by the repair, replacement, adjustment or removal of your product or your work.

Impaired property means tangible property, other than work performed for you, that cannot be used or is less useful because:

Impaired property means tangible prop- erty, other than "your product" or "your work", that cannot be used or is less useful because:

Impaired property means tangible property, other than your product or your work, that can- not be used or is less useful because:

Impaired property means tangible property, other than "your product" or "your work", that cannot be used or is less useful because: (a) It incorporates "your product" or "your work" that is known or thought to be defective, deficient, inadequate or dangerous; or (b) You have failed to fulfill the terms of a contract or agreement;

Impaired property means tangible "business" property, other than "your product" or "your work":