Rateable Proportion definition

Rateable Proportion means the amount of insurance provided by this policy divided into the total amount of insurance in force on the property damaged or destroyed at the time of loss, multiplied by the actual loss incurred.

Rateable Proportion means the amount of insurance provided by this policy divided into the total amount of insurance in force on the property damaged or destroyed at the time of loss, multiplied by the actual loss incurred. “Replacement Cost” means the cost, at the time of loss, of repairs or replacement (whichever is lower) with new property of similar kind and quality and usefulness, without deduction for depreciation.

Rateable Proportion means (a) if there are two insurers liable and each has the same policy limits, each of the insurers shall be liable to share equally, and (b) if there are two insurers liable with different policy limits, the insurers shall be liable to share equally up to the limit of the smaller policy limit, and (c) if there are more than two insurers liable, (a) and (b) shall apply mutatis mutandis.

Examples of Rateable Proportion in a sentence

• Rateable ProportionThe accepted way to interpret the term Rate-able Proportion is exhibited.

• Rateable Proportion of Rent The Rent for the remainder of the Lease Year in which works are completed will be increased by a rateable proportion (based on the ratio that the number of days remaining in that Lease Year bears to the number 365) of the percentage of the total costs of the works.

• Rateable Proportion (2) “Rateable proportion” means (a) if there are two insurers liable and each has the same policy limits, each of the insurers shall be liable to share equally, and (b) if there are two insurers liable with different policy limits, the insurers shall be liable to share equally up to the limit of the smaller policy limit, and (c) if there are more than two insurers liable, (a) and (b) shall apply mutatis mutandis.

• In this sense, and despite the close proximity between both areas, Chiloé has always been seen as a different territory in terms of its culture, relations and environment.

More Definitions of Rateable Proportion

Rateable Proportion means the amount of insurance provided by this policy divided into the total amount of insurance in force on the property damaged or destroyed at thetimeof loss, multipliedbytheactual loss incurred.

Rateable Proportion means rateable proportion as defined in section 650(3) of the Act.