RISK OF LOSS OR DAMAGE definition

RISK OF LOSS OR DAMAGE. The Lessee assumes all risks of loss or damage to the equipment from any cause, and agrees to return it to the Lessor in the condition received from the Lessor, with the exception of normal wear and tear.
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RISK OF LOSS OR DAMAGE. The Lessee assumes all risk of loss or damage to the craft from any cause and agrees to return the craft in the condition received from the Lessor, with the exception of normal wear and tear. The Lessee certifies that he/she has examined the craft and finds it acceptable and suitable for the purpose for which it is rented. The Lessee agrees to return this craft on or before the expiration of the rental period in the new condition it is in now EXCEPT AS FOLLOWS:
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RISK OF LOSS OR DAMAGE. With respect to the Aircraft and its equipment, the insurance policy obtained in connection herewith shall be in the joint names of Lessor and Lessee and shall insure the Aircraft and its equipment against all risk of loss or damage or not less than the full market value thereof, and the premiums therefor shall be paid by Lessee unless otherwise provided herein. With respect to all other equipment, Lessee shall keep the equipment insured against all risk of loss or damage from every cause whatever for not less than the full replacement value thereof, except that in the case of oil or gas equipment, the insurance, at the election of Lessor, need not include fire and extended coverage on equipment situated beneath the ground. Any such insurance shall be in form and amount with companies approved by Lessor and shall, at the election of Lessor, either be in the joint names of Lessor and Lessee or be for the beneficial interest of Lessor, and Lessee shall pay the premiums therefor and at the request of Lessor deliver said policies or duplicates thereof to Lessor. The proceeds of any such insurance at the option of Lessor, shall be applied (i) toward the replacement, restoration, or repair of the Aircraft and its equipment or (ii) toward payment of the obligations of Lessee hereunder.
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Examples of RISK OF LOSS OR DAMAGE in a sentence

  • IF BIDDER DOES NOT PROMPTLY COMPLY WITH THE TERM OF SUCH INSTRUCTION, OR IN AN EMERGENCY WHERE DELAY WOULD CAUSE SERIOUS RISK OF LOSS OR DAMAGE, OWNER MAY HAVE THE DEFECTIVE WORK CORRECTED OR THE REJECTED WORK REMOVED AND REPLACED, AND ALL DIRECT AND INDIRECT COSTS OF SUCH REMOVAL AND REPLACEMENT, INCLUDING COMPENSATION FOR ADDITIONAL PROFESSIONAL SERVICES, SHALL BE PAID BY BIDDER.

  • THIS INSURANCE SHALL BE IN A FORM ACCEPTABLE TO THE LESSOR AND SHALL INSURE THE FULL VALUE OF THE EQUIPMENT AGAINST THE RISK OF LOSS OR DAMAGE.

  • IF CONTRACTOR DOES NOT PROMPTLY COMPLY WITH THE TERM OF SUCH INSTRUCTION, OR IN AN EMERGENCY WHERE DELAY WOULD CAUSE SERIOUS RISK OF LOSS OR DAMAGE, OWNER MAY HAVE THE DEFECTIVE WORK CORRECTED OR THE REJECTED WORK REMOVED AND REPLACED, AND ALL DIRECT AND INDIRECT COSTS OF SUCH REMOVAL AND REPLACEMENT, INCLUDING COMPENSATION FOR ADDITIONAL PROFESSIONAL SERVICES, SHALL BE PAID BY CONTRACTOR.

  • THE RISK OF LOSS OR DAMAGE IN RESPECT OF ALL COMPONENTS OF THE LICENSED TECHNOLOGY PROVIDED TO CUSTOMER SHALL TRANSFER TO CUSTOMER UPON DELIVERY THEREOF.

  • DURING THE INTERIM OPERATIONAL PERIOD, ALL RISK OF LOSS OR DAMAGE TO THE TRANSFERRED ASSETS SHALL, AS BETWEEN SELLER AND BUYER, BE BORNE BY SELLER.

  • UNLESS OTHERWISE SPECIFIED IN THE SHIPPING TERMS SET FORTH IN THE BODY OF THE PURCHASE ORDER, SELLER SHALL BEAR ALL RISK OF LOSS OR DAMAGE UNTIL RECEIPT AT THE NAMED DESTINATION WITH ALL FREIGHT COSTS, INSURANCE, PACKAGING AND OTHER EXPENSES TO THE NAMED DESTINATION TO BE BORNE BY SELLER AND INCLUDED IN THE PURCHASE ORDER PRICE.

  • CONSIGNOR WILL BEAR ALL RISK OF LOSS OR DAMAGE TO THE ART WORK DURING TRANSPORTATION TO THE UNIVERSITY AT THE FOREGOING ADDRESS.

  • ALL RISK OF LOSS OR DAMAGE SHALL PASS TO PURCHASER UPON DELIVERY OF THE PRODUCT TO THE CARRIER.

  • IF CONTRACTOR DOES NOT PROMPTLY COMPLY WITH THE TERM OF SUCH INSTRUCTION, OR IN AN EMERGENCY WHERE DELAY WOULD CAUSE SERIOUS RISK OF LOSS OR DAMAGE, CITY MAY HAVE THE DEFECTIVE WORK CORRECTED OR THE REJECTED WORK REMOVED AND REPLACED, AND ALL DIRECT AND INDIRECT COSTS OF SUCH REMOVAL AND REPLACEMENT, INCLUDING COMPENSATION FOR ADDITIONAL PROFESSIONAL SERVICES, SHALL BE PAID BY CONTRACTOR.

  • THE WINNERS SHALL BEAR ALL RISK OF LOSS OR DAMAGE TO THEIR PRIZE AFTER THEY HAVE BEEN DELIVERED.


More Definitions of RISK OF LOSS OR DAMAGE

RISK OF LOSS OR DAMAGE. Lessee assumes all risks of loss or damage that may occur to the Craft arising from any cause whatsoever, and agrees to return the Craft in the exact condition it was when taken from Lessor, with the exception of normal wear and tear. Lessee agrees to return the Craft on or before the expiration of the Rental Period in the same condition it was at the beginning of the Rental Period EXCEPT AS FOLLOWS: LESSEE agrees to use the Craft in conformity with Lessor directives, written and verbal, and not to use, nor permit the use:
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RISK OF LOSS OR DAMAGE. Lessee assumes all risks of loss or damage that may occur to the Craft arising from any cause whatsoever, and agrees to return the Craft in the exact condition it was when taken from Lessor, with the exception of normal wear and tear. Xxxxxx agrees to return the Craft on or before the expiration of the Rental Period in the same condition it was at the beginning of the Rental Period If the Craft is damaged or lost, Lessor shall have the option of requiring the Lessee to assume all costs for the repair of the accessory equipment or the Craft, as the case may be, or to replace the Craft or equipment with a similar craft or equipment in a similar working condition. LESSOR: ODYSSEA WATERSPORTS INC, XXXXXX agrees to use the Craft in conformity with Lessor directives, written and verbal, and not to use, nor permit the use:
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RISK OF LOSS OR DAMAGE. Lessee assumes all risks of any and all loss, injury or damage that may occur to the Vehicle or to Lessee’s person or to any other persons or property arising from any cause whatsoever during the Rental Period or in any way relating to or arising out of the Lessee’s use, operation, possession or maintenance of the Vehicle. Xxxxxx agrees to return the Vehicle in the exact condition it was when taken from Lessor, with the exception of normal wear and tear. Xxxxxx agrees to return the Vehicle on or before the expiration of the Rental Period in the same condition it was at the beginning of the Rental Period. Lessee shall be responsible for any and all damages to the Vehicle during the Rental Period or in any way caused by the Lessee’s operation, possession, maintenance or use of the Vehicle, including but not limited to all costs of repairing the Vehicle. If the Vehicle is damaged, Lessor shall have the option of requiring the Lessee to assume all costs for the proper repair of the Vehicle as determined by an authorized independent repair shop. In the event the Vehicle is deemed not repairable by an authorized independent dealer mechanic or a complete loss, the Lessee shall be obligated to make Lessor "whole", which shall include, but not be limited to: (a) the payment of the replacement costs for a new or replacement Vehicle, (b) the payment of Michigan sales tax on a new or replacement Vehicle, and (c) the payment of the daily rental rate as advertised for the Vehicle for 7 days a week until the Vehicle is replaced or repaired.
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RISK OF LOSS OR DAMAGE. Lessee assumes all risks of loss or damage that may occur to the Craft arising from any cause whatsoever, and agrees to return the Craft in the exact condition it was when taken from Lessor, with the exception of normal wear and tear. Lessee agrees to return the Craft on or before the expiration of the Rental Period in the same condition it was at the beginning of the Rental Period EXCEPT AS FOLLOWS:
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RISK OF LOSS OR DAMAGE. The Renter assumes all risks of loss or damage to the stand(s) from any cause, and agrees to return the stand(s) to the Guild in the condition received, with the exception of normal wear and tear.
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Related to RISK OF LOSS OR DAMAGE

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Risk of Loss The risk for loss shall remain with the Contractor until any Goods that may be required to be delivered pursuant to this Contract or the Bid Documents are delivered to the Authority in accordance with the terms hereof. Contractor shall carry on the work of furnishing and delivering the Goods at Contractor’s own risk and expense until the same is fully completed and accepted by the Authority and shall be solely liable and responsible for the safety and security thereof.

  • Economic Risk of Loss has the meaning set forth in Treasury Regulation Section 1.752-2(a).

  • 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.

  • Environmental Damage means any material injury or damage to persons, living organisms or property or any material pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Direct Damage has the meaning given to it in clause 26.2;

  • Damage means actual and/or physical damage to tangible property;

  • Environmental Damages means all liabilities (including strict liability), losses, damages (excluding consequential, special, exemplary or punitive damages except to the extent such damages were imposed upon an Indemnitee as a result of any claims made against such Indemnitee by a governmental entity or any other third party), judgments, penalties, fines, costs and expenses (including fees, costs and expenses of attorneys, consultants, contractors, experts and laboratories), of any and every kind or character, at law or in equity, contingent or otherwise, matured or unmatured, foreseeable or unforeseeable, made, incurred, suffered, brought, or imposed at any time and from time to time, whether before or after the Release Date and arising in whole or in part from:

  • Consequential Loss means indirect or consequential loss or damage such as, but not limited to, loss of contract, bargain, expectation, opportunity, profit, production, revenue, anticipated cost reduction or interest payable howsoever caused, arising out of or in connection with this Contract.

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.

  • Major Damage means damage that in the estimation of the surveyor exceeds USD

  • Property damage means physical injury to, destruction of, or loss of use of tangible property.

  • Damage to Property means physical injury to or destruction of tangible property, including the loss of its use. Tangible property includes the cost of recreating or replacing stocks, bonds, deeds, mortgages, bank deposits and similar instruments, but does not include the value represented by such instruments.

  • Material Damage and “Materially damaged” means damage (w) resulting in the Property not complying with all legal requirements applicable to the Property, (x) reasonably exceeding $300,000 or (y) that entitles any tenant of the Property to terminate its Lease, or (z) which, in Buyer’s or Seller’s reasonable estimation, will take longer than 120 days to repair.

  • Severe property damage means substantial physical damage to property, damage to the treatment facilities which would cause them to become inoperable, or substantial and permanent loss of natural resources which can reasonably be expected to occur in the absence of a bypass. Severe property damage does not mean economic loss caused by delays in production.

  • Electrical Losses means all applicable losses, including the following: (a) any transmission or transformation losses between the CAISO revenue meter(s) and the Delivery Point; and (b) the Distribution Loss Factor, if applicable.

  • Substantial damage means damage of any origin sustained by a structure whereby the cost of restoring the structure to its before damaged condition would equal or exceed 50 percent of the market value of the structure before the damage occurred.

  • Accidental Damage means physical damage, breakage or failure of Your Covered Equipment due to an unforeseen and unintentional event occurring either due to handling (e.g., dropping the Covered Equipment or through liquid contact) or due to an external event (e.g., extreme environmental or atmospheric conditions). The damage must affect the functionality of Your Covered Equipment, which includes cracks to the display screen that affect the visibility of the display.

  • Direct Loss means charges actually paid pursuant to this Agreement in respect of the period of the Delay. For the purposes of clause 13.4, the User's losses arising out of a Delay will be taken to include the amount of the relevant Direct Losses.

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Catastrophic illness or injury means one of the following:

  • Resale Damages means, with respect to any Rejected Purchase, an amount equal to (a) the positive net amount, if any, by which the applicable Price that would have been paid pursuant to Section 5.1 hereof for such Rejected Purchase, had it been accepted, exceeds the Resale Price multiplied by the quantity of that Rejected Purchase, plus (b) any applicable penalties assessed by ISO-NE or any other Person against Seller as a result of Buyer’s failure to accept such Products. Seller shall provide a written statement explaining in reasonable detail the calculation of any Resale Damages.

  • Products Liability means:Your legal liability in respect of Personal Injury and/or Property Damage caused by or arising out of any Products or the reliance upon a representation or warranty made at any time with respect to such products; but only where such Personal Injury and/or Property Damage occurs away from premises owned or leased by or rented to You and after physical possession of such products has been relinquished to others.

  • Actual Damages has the meaning set forth in Section 12.4(C).

  • Latent Defects means such defects caused by faulty designs, material or work man ship which cannot be detected during inspection, testing etc, based on the technology available for carrying out such tests.