Examples of Loss of Use in a sentence
The period of coverage for this Loss of Use shall be, at a minimum, the length of the original construction period of the applicable construction project.
Such insurance shall, unless otherwise agreed in writing by all persons and entities that are beneficiaries of such insurance, (a) be maintained until the construction project is complete, (b) include at least the interests of Lessor, Lessee, and any and all contractors, and (c) include Loss of Use insurance due to a covered loss, including Leasehold Interest Coverage in favor of Lessee subject to a minimum limit of twice the Rent due for the first Lease Year.
You are also responsible for Loss of Use (without regard to fleet utilization), Diminished Value, and our administrative expenses incurred processing a claim.
The rental agent may make a claim on Your behalf to recover repair and Loss of Use charges by following the procedures outlined in the section “In the Event of an Accident/Theft”.
The coverage compensates You or a Rental Agency for loss/damages up to the actual cash value of the rented vehicle and valid Rental Agency Loss of Use charges when the conditions described below are met.