Limited Liability Amount means the reduced amount payable by the Client in the event of loss or damage to a Vehicle to which a Waiver(s) apply, which reduced amount excludes towing charges, storage costs, assessor’s costs and claim administration fees (if applicable) for which the Client will remain liable;
Limited Liability Amount with respect to a Dealer Repossession means that portion of the Net Unpaid Balance of the related Retail Contract or Unrecovered Equipment Costs of a Lease that is agreed among ITEC, NFC and the Dealer at or before such Retail Contract or Lease is acquired by NFC and specified as the amount to be paid by such Dealer to NFC upon the repossession of the related Equipment (whether NFC has waived or forgiven all or any portion of such amount and whether such amount is actually paid by such Dealer or not).
Examples of Limited Liability Amount in a sentence
Client will, in addition to the Limited Liability Amount, be responsible for all towing costs, storage fees and assessment fees (if applicable).
A Code 10 (C1) licence holder will however only be allowed to rent a vehicle for which a Code 08 (EB) and Code 10 (C1) licence is required, subject to Tempest's right to apply an additional daily surcharge and/or additional Limited Liability Amount and/or additional deposit in its sole discretion of such rental.