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.
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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. • “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 Us, Our employees, agents or representatives while the Goods are in the unit. StoreProtect - What do I receive? ✓In return for payment of the StoreProtect Charges, We agree 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, We accept liability for Loss or Damage (as defined) to Your Property following a breach of Our Duty of Care 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'). ✓Our 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). ✓Our 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 Our option. We accept 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”). Our Duty of Care under StoreProtect • We are responsible for maintaining the Facility in a secure condition and will provide Our services with reasonable skill and care. • Our liability in relation to the Goods under StoreProtect shall be that of a reasonably careful person under like circumstances. We shall not be liable for any Loss or Damage to the Goods, however caused, while the Goods remain in the unit or under Our care, custody or control, unless such Loss or Damage resulted from Our failure to exercise such care in relation to the Goods as a reasonably careful person would exercise under like circumstances, and We will not be liable for dam...
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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. StoreProtect - What do I receive? ✓ In return for payment of the StoreProtect Charges, Stashed Away agrees to accept a higher limit of liability for Loss or Damage to Your Property and the limit of £100 shown in the enclosed Conditions of Agreement will not apply. ✓ Instead, Stashed Away’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'). ✓ Stashed Away’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). ✓ Stashed Away’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 Stashed Away’s option. Stashed Away accepts no liability for depreciation following repair. ✓ If You opt for StoreProtect, You are no longer obligated to arrange insurance for Your Property. Your Responsibility It is Your responsibility to: • provide a Maximum Replacement Value on the Customer Declaration; • pay the additional charges set out for StoreProtect ("StoreProtect Charges"); and • ensure that the Maximum Replacement Value is accurate at all times for the duration of this Agreement. Proportional Reduction If the Maximum Replacement Value You provide is less than the actual total Replacement Value of all of Your Property stored in your Unit at the time of Loss or Damage, then Stashed Away’s liability will be reduced to reflect the proportion that Your Maximum Replacement Value bears to the actual total Replacement Value ("Proportional Reduction"). • (For example: if the total replacement value of Your Property is £10,000, but You have declared a Maximum Replacement Value of £5,000,Stashed Away’s liability will be reduced by 50%. So, if £3,000 worth of Your Property is lost or damaged, Stashed Away’s liability would be £1,500.) General Exclusions and Limitations • Stashed Away excludes and li...
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Examples of Maximum Replacement Value in a sentence

  • 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.

  • 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.


More Definitions of Maximum Replacement Value

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.
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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. • “Loss” or “Damage” means identifiable losses, destruction of or damage to the Customer’s Goods, wilful acts, omissions and default, including theft by forcible entry or damage caused by The FO, Our employees, agents or representatives while the Goods are in the unit. StoreProtect - What do I receive? ✓In return for payment of the StoreProtect Charges, the FO agrees to accept an enhanced liability for Loss or Damage to the Customer’s Property and the limit of £100 in the event of negligence shown in the enclosed Conditions of Agreement will not apply. ✓Instead, the FO accepts liability for Loss or Damage (as defined) to the Customer’s Property following a breach of its Duty of Care up to a maximum of (i) the Maximum Replacement Value; or (ii) the actual value of the Customer’s 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'). ✓The FO’s liability will commence from the time the Customer’s Property is placed by them into the storage unit(s) and ceases immediately upon removal of the Property from the Customer’s storage unit(s). ✓The FO’s liability to the Customer under StoreProtect for Loss or Damage to the Customer’s 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 the FO’s option. The FO accepts no liability for depreciation following repair. ✓If the Customer opts for StoreProtect, the Customer is no longer obligated to arrange insurance for their Property. ✓If the Customer submits a claim, additional claims processing administration charges may apply. The FO may deduct a £50 charge from any settlement awarded to the Customer to cover the FO’s administration costs (“Claims Admin Fee”). The FO’s Duty of Care under StoreProtect • The FO is responsible for maintaining the Facility in a secure condition and will provide services with reasonable skill and care. • The FO’s liability in relation to the Goods under StoreProtect 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 its care, custody or control, unless such Loss or Damage res...
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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.

  • 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.

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

  • Benchmark Replacement Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

  • Termination Value means, in respect of any one or more Hedging Agreements, after taking into account the effect of any legally enforceable netting agreement relating to such Hedging Agreements, (a) for any date on or after the date such Hedging 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 Hedging Agreements, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Hedging Agreements (which may include a Lender or any Affiliate of a Lender).