Maximum Replacement Value definition

Maximum Replacement Value means the maximum sum total of the Replacement Value for all Property at any time throughout the period of storage.  “Loss” or “Damage” means identifiable losses, destruction of or damage to Your Goods, wilful acts, omissions and default, including theft by forcible entry or damage caused by the FO, its employees, agents or representatives while the Goods are in the unit. StoreProtect - What do I receive? In return for payment of the StoreProtect Charges, FO agrees to accept an enhanced liability for Loss or Damage to Your Property and the limit of £100 in the event of negligence shown in the enclosed Conditions of Agreement will not apply. Instead, FO's liability for any direct physical Loss or Damage to Your Property following a breach of its Duty of Care will be limited at a higher amount, up to a maximum of (i) the Maximum Replacement Value; or (ii) the actual value of Your Property either affected by Loss or Damage (whichever is less), taking into account any Proportional Reduction, and subject to certain exclusions (see 'Exclusions – what StoreProtect does not provide for'). FO's liability will commence from the time Your Property is placed by You into Your storage unit(s) and ceases immediately upon removal of Your Property from Your storage unit(s). FO's liability to You under StoreProtect for Loss or Damage to Your Property is to be assessed as a sum equivalent to the cost of (a) repair or cleaning or (b) the Replacement Value or (c) compensation, whichever is the smaller sum, at FO's option. FO accepts no liability for depreciation following repair. If You opt for StoreProtect, You are no longer obligated to arrange insurance for Your Property. If you submit a claim, additional claims processing administration charges apply. We will deduct a £50 charge from any settlement awarded to you to cover our administration costs (“Claims Admin Fee”). FO’s Duty of Care under StoreProtect  The FO is responsible for maintaining the Facility in a secure condition and will provide its services with reasonable skill and care.  The FO accepts a duty of care for stored Goods. For the avoidance of doubt, the FO’s duty of care in relation to the Goods shall be that of a reasonably careful person under like circumstances. The FO shall not be liable for any Loss or Damage to the Goods, however caused, while the Goods remain in the unit or under the FO’s care, custody or control, unless such Loss or Damage resulted from the FO’s failure to exercise such care ...
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Maximum Replacement Value means the maximum sum total of the Replacement Value for all Property at any time throughout the period of storage.
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Maximum Replacement Value. A per claim limit applies to each loss to the insured product. Refer to the Maximum Replacement Value Schedule for your claim limit. Maximum Replacement Value Schedule: Claim limit per repair or replacement Group 1 Group 2 Group 3 Maximum Replacement Value $1,500 $1,500 $1,500 Aggregate Limit of Liability: A maximum of two (2) insured product replacements or repairs will be allowed in any one twelve (12) month period based on the date of first replacement or repair. No further replacements or repairs will be provided for the remainder of this period.
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Examples of Maximum Replacement Value in a sentence

  • By signing to ACCEPT StoreProtect in the appropriate box below, You also confirm: • You have read and understand the StoreProtect Addendum and wish to opt for enhanced liability protection up to the Maximum Replacement Value You have provided below.

  • If You sign to DECLINE StoreProtect, You understand that: • You are required to arrange insurance at Your own expense to cover the stated Maximum Replacement Value of the Property.

  • So, if £3,000 worth of Your Property is lost or damaged, FO's liability would be £1,500.) If You sign to DECLINE StoreProtect, You understand that: • You are required to arrange insurance at Your own expense to cover the stated Maximum Replacement Value of the Property.


More Definitions of Maximum Replacement Value

Maximum Replacement Value means the maximum sum total of the Replacement Values for Your Property at all times for the duration of this Agreement including where Our Quotation includes removal and/or storage of Your Property on multiple occasions or where You add or remove Your Property from storage.
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Maximum Replacement Value means the maximum sum total of the Replacement Values for Your Property at all times for the duration of this Agreement including where Our Quotation includes removal and/or storage of Your Property on multiple occasions or where You add or remove Your Property from storage.
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Related to Maximum Replacement Value

  • Replacement Value means the price, including accrued interest, at which Equivalent Securities to the Borrowed Securities could be purchased in the principal market for such securities at the time of election by State Street under Section 13.1 hereof.

  • Current Value shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Hedge Termination Value means, in respect of any one or more Hedge Agreements, after taking into account the effect of any legally enforceable netting agreement relating to such Hedge Agreements, (a) for any date on or after the date such Hedge Agreements have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the xxxx-to-market value(s) for such Hedge Agreements, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Hedge Agreements (which may include a Lender or any Affiliate of a Lender).

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Swap Termination Value means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the xxxx-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender).

  • Eligible cost means as applied to a qualified project to be financed from the federal accounts, the costs that are permitted under applicable federal laws, requirements, procedures, and guidelines in regard to establishing, operating, and providing assistance from the bank. As applied to a qualified project to be financed from the state highway account, these costs include the costs of preliminary engineering, traffic and revenue studies, environmental studies, right‑of‑way acquisition, legal and financial services associated with the development of the qualified project, construction, construction management, facilities, and other costs necessary for the qualified project. As applied to any qualified project to be financed from the state transit account, eligible project costs are limited to capital expenditures for transit equipment and facilities.

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

  • Monthly Minimum Removal Efficiency means the minimum reduction in the pollutant parameter specified when the effluent average monthly concentration for that parameter is compared to the influent average monthly concentration.

  • Replacement Price means the price, determined by Buyer in a commercially reasonable manner, at which Buyer purchases (if at all) substitute SRECs having the same or subsequent Reporting Year as those SRECs not delivered by Seller for the deficiency or, absent such a purchase, the Market Price for such quantity of SRECs at or during the time that Seller fails to deliver the SRECs, provided that the Market Price shall never exceed the solar alternative compliance payment.

  • Daily Measurement Value means the Specified Dollar Amount (if any), divided by 40.

  • Maximum Commitment Amount means Five Million Dollars ($5,000,000).

  • Eligible Costs means the actual costs reasonably incurred by the Recipient:

  • Increased Amount of any Indebtedness shall mean any increase in the amount of such Indebtedness in connection with any accrual of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form of additional Indebtedness with the same terms, accretion of original issue discount or liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness.

  • Benchmark Replacement Date means the earliest to occur of the following events with respect to the then-current Benchmark:

  • LIBOR Replacement Date has the meaning specified in Section 3.03(c).