Liability Reduction definition

Liability Reduction means the amount for which You will be liable to pay in the event of Loss or Damage to the Vehicle as set out in Rental Vehicle Agreement Part A, which may be reduced by purchase of Reduction Options subject to the terms and conditions of this Agreement.
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Liability Reduction means the ability of the Underwriters, in their sole and absolute discretion, to reduce the size of the Offering by an amount which does not exceed the amount by which the aggregate Offering Price subscribed for by Partially Excluded Purchasers is less than $1,500,000;
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Examples of Liability Reduction in a sentence

  • Liability Reduction Options There are 3 (three) Liability Reduction Options available: • Platinum Package; • Silver Package; • Bronze Package.

  • These Liability Reduction Options are an additional cost to all quoted rental rates and We reserve the right to restrict the availability of PLATINUM and SILVER PACKAGE options in certain areas due to adverse road or weather conditions.

  • The Vehicle Security Deposit amount is determined by the Liability Reduction Option selected.

  • The Liability Reduction applies in respect of each claim, not per rental.

  • You will remain responsible up to the amount of the applicable Liability Reduction set out in Rental Vehicle Agreement Part A for the cost of such damage to the Vehicle and for damage to third party property.

  • If there is damage to the Vehicle on its return, the bond will be used to cover the cost of such damage up to the amount of the relevant Liability Reduction.

  • Customers requiring Vehicle towing and Vehicle recovery from a road listed within this section will be responsible for up to AU$8,000 for towing and Vehicle recovery in the event of not having this cover irrespective of the Liability Reduction Option being selected.

  • The 4WD Max Cover is only available with 4WD Vehicle hires and when the Liability Reduction Option has been purchased by the Customer.

  • Basic standard Liabilty Option Gold coast Luxury Motorhome Hire rental charge includes a standard Liability Reduction and Bond of $5000 including GST.

  • The Liability Reduction is applicable regardless of who is at fault and must be paid at the time the accident/incident is reported to Star RV, not at the completion of the rental period.

Related to Liability Reduction

  • Aggregate Amounts Due as defined in Section 2.17.

  • Gross Liability Value means, with respect to any Liability of the Partnership described in Treasury Regulation Section 1.752-7(b)(3)(i), the amount of cash that a willing assignor would pay to a willing assignee to assume such Liability in an arm’s-length transaction.

  • Covered Losses means any and all losses, assessments, fines, penalties, administrative orders, obligations, judgments, amounts paid in settlement, costs, expenses, liabilities and damages (whether actual, consequential or punitive), including interest, penalties, reasonable court costs and attorney’s fees, disbursements and costs of investigations, deficiencies, levies, duties and imposts.

  • Defect Liability Period in relation to a work means the specified period from the date of COMPLETION CERTIFICATE upto the date of issue of FINAL CERTIFICATE during which the CONTRACTOR stands responsible for rectifying all defects that may appear in the works executed by the CONTRACTOR in pursuance of the CONTRACT and includes warranties against Manufacturing/Fabrication/ Erection/Construction defects covering all materials plants, equipment, components, and the like supplied by the CONTRACTOR, works executed against workmanship defects.