Physical Damage means tangible damage to a Property that materially adversely affects the use, marketability, or value of the Property, whether caused by accident or otherwise, including, but not limited to damage caused by reason of fire, destruction of tangible property, defects in construction, land subsidence, earth movement or slippage, flood, earthquake, war, civil insurrection, or riot; and further, Physical Damage includes Environmental Impairment and the destruction or removal of chattel items that are considered part of the Property (see Section I., KK., [Property]) For purposes of this definition "material" shall mean an amount equal to or greater than $1,500.00 such that the estimated cost to repair a Property is $1,500.00 or more before the exclusion set forth in Section III., G., (Physical Damage Exclusion) would apply to exclude coverage for a Loan. The presence of radon gas, lead paint or asbestos in the dwelling on the Property shall not be deemed to be Physical Damage.
Physical Damage means direct and accidental physical loss of or damage to the Aircraft, hereinafter called loss, but does not include loss of use or any residual depreciation in value, if any, after repairs have been made.
Physical Damage means any tangible injury to a Property or any Environmental Condition, whether caused by accident, natural occurrence, or any other reason.
Examples of Physical Damage in a sentence
Test 13-1: Physical Damage Covered Confirm the Contract contains language that required the Obligor to obtain and maintain insurance against physical damage to the Financed Vehicle.
Coverage shall include Garage Liability and Garage Keepers on a Direct Primary Basis, including Auto Physical Damage, with limits of not less than $1,000,000 each accident Bodily Injury and Property Damage combined liability and Actual Cash Value auto physical damage.
This exclusion shall not apply to so-called Automobile Insurance Plans or other Pools formed to provide coverage for Automobile Physical Damage.
The Receivable requires the Obligor to insure the Financed Vehicle under a Physical Damage Insurance Policy, pay the premiums for such insurance and keep such insurance in full force and effect.
Retail note contract (the “Contract”), Receivable File, U.S. Fixed Rate Contract, Physical Damage Insurance Form, UCC documents with the exception of personal use contracts where no UCC is required.
More Definitions of Physical Damage
Physical Damage means any tangible injury to a Property, whether caused by accident, natural occurrence, or any other reason, including damage caused by defects in construction, land subsidence, earth movement or slippage, fire, flood, earthquake, riot, vandalism or any Environmental Condition.
Physical Damage means any injury, physical damage or impairment to a Property that we reasonably estimate to be in excess of the greater of $5,000 or 2% of the Original Value, whether caused by accident, natural disaster or otherwise, including due to any of the following: physical injury or destruction of tangible property; demolition by any entity; defects in construction, rehabilitation or remodeling; defects in materials; infestation; land subsidence; earth movement or slippage; earthquake; volcanic activity; avalanche; flood, wind, hurricane, tornado; wildfire; any act of God; any event declared a disaster by the Federal Emergency Management Agency or other governmental agency; riot, insurrection, terrorism, civil strife or war; or any Environmental Impairment. The presence of radon gas, lead paint, or asbestos in a dwelling does not constitute Physical Damage.
Physical Damage means any tangible injury to a Property, whether caused by accident, natural occurrence, or any other reason, including damage caused by defects in construction, land subsidence, earth movement or slippage, fire, flood, earthquake, riot, vandalism or any environmental condition including contamination by toxic or hazardous waste, chemicals or other substances.
Physical Damage means damage to, or loss of, the Vehicle caused by collision or upset; it does not include comprehensive damage, such as damage to, or loss of, the Vehicle due to theft, vandalism, act of nature, riot or civil disturbance, hail, flood or fire. "Loss of use" means the loss of our ability to use the Vehicle for any purpose due to damage to it during this rental. Loss of use is calculated by multiplying the number of days from the date the Vehicle is damaged until it is repaired, times the daily rental rate.
Physical Damage means any tangible injury to the Property, whether caused by accident, natural occurrence or otherwise, excluding normal wear and tear.
Physical Damage means any unrestored or unremediated tangible injury, other than reasonable wear and tear, to the real property that collateralizes the Loan whether caused by accident or otherwise, including, but not limited to, physical injury to or destruction of the property, defects in construction, land subsidence, earth movement or slippage, earthquake, flood, or any other act of God, riot, insurrection, civil strife, or acts of terrorism or war, that materially affects the use, marketability or value of the property. For the purposes of this definition, "materially" means that the total costs of restoration or remediation of the property due to such injury is at least $1500.00.
Physical Damage means damage to, or loss of, the Vehicle caused by collision or upset; it does not include comprehensive damage or loss, such as: loss of the Vehicle due to theft; vandalism; act of nature; riot or civil disturbance; hail, flood; or, fire. Physical Damage excludes interior burn holes, window stars or cracks not caused by collision or upset. "Loss of use" means the loss of our ability to use the Vehicle for any purpose caused by damage or loss during this rental. Loss of use is calculated by multiplying the number of days from the date the Vehicle is damaged or lost until it is repaired or replaced, times the daily rental rate.