New Replacement Cost definition

New Replacement Cost means the cost to replace the Equipment with a new item of the same equipment, or if the same equipment is not available, then the cost to replace the Equipment with a new item of equipment of the same quality, function and capacity.
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New Replacement Cost means the actual cost of replacing a lost, stolen or damaged piece of Equipment as determined by Uniblast and advised to the Hirer.
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Examples of New Replacement Cost in a sentence

  • White Resin Chairs $2.00/chair Kitchen Use $40.00/event Set Up and Tear-down (by Center Staff) $60/hour add’l Stage (20 feet by 8 feet) $100 Linens (Limited colors available max 8 rounds) $10/linen PA System (Not including hourly staff fee) $50 Carnival Games $10/game Canopies (pending availability) $10/canopy Damage/Replacement Fees (Invoiced after use) New Replacement Cost (PLEASE NOTE THAT TABLES AND CHAIRS ARE INCLUDED IN THE HOURLY FACILITY RENTAL FEE.

  • If at the time of loss of or damage to any Item insured under this Section 6 it is found that the Sum Insured is less than the New Replacement Cost then the amount recoverable by the Insured under this Section 6 shall be reduced in such proportion as the Sum Insured bears to the New Replacement Cost.

  • Should the New Replacement Cost vary by more than 5 percent as Compared with the latest fixing of the Sum Insured or change on account of an extension or alteration of the Insured Item, the Insurers shall be entitled to increase or reduce the Sum Insured accordingly.

  • The starting point or basis of the Cost Approach is Reproduction Cost New, Replacement Cost, New, or a combination of both.

  • The Sum Insured for each Item shall not be less than the New Replacement Cost.