Total Loss or Constructive Total Loss definition
Examples of Total Loss or Constructive Total Loss in a sentence
After Launch of each Satellite Batch by the Launch Services Provider(s), Contractor shall proceed with the provision of On-Orbit Support Services in accordance with the Statement of Work, except in case of Total Loss or Constructive Total Loss of a Satellite to the extent such Satellite is removed from service.
The Borrower fails to enter into the Assignment of Insurance Proceeds and (if applicable) within 60 days of the Satellite suffering a Total Loss or Constructive Total Loss except in circumstances where the Contract is cancelled, repudiated or terminated prior to the expiry of those 60 days.
The Borrower fails to enter into the Assignment of Insurance Proceeds (if applicable) within 60 days of the Satellite suffering a Total Loss or Constructive Total Loss except in circumstances where the Contract is cancelled, repudiated or terminated prior to the expiry of those 60 days.
Delivery of each Spacecraft shall occur upon either Unconditional Acceptance in writing by Customer, Conditional Acceptance in writing by Customer or declaration of Total Loss or Constructive Total Loss, each pursuant to Paragraph 7.4.3, and delivery of a ▇▇▇▇ of Sale for the Spacecraft.
Following payment of a claim under this Policy, other than a claim under Section 1 for Total Loss or Constructive Total Loss, the Insurer will reinstate the amount of indemnity provided immediately prior to the payment of the claim.
If the Insured Vessel suffers an Occurrence resulting in a covered Total Loss or Constructive Total Loss and the Named Insured had purchased the Insured Vessel within the prior eighteen (18) months of the Occurrence and is its first and majority owner when lost, We will pay an additional ten percent (10%) of Our payment for the Total Loss when the Named Insured becomes the first and majority owner of a new, similar, replacement vessel if within twelve (12) months of the Insured Vessel loss Occurrence.
In the case of a Total Loss or Constructive Total Loss, the priority rights set forth in Article 6.
For the avoidance of doubt, in the event of a Loss after the Launch, Customer shall take title to the Satellite at the instant prior to the occurrence of the event which caused such Total Loss or Constructive Total Loss.
If a Total Loss or Constructive Total Loss of the Insured Vessel is the result of a covered loss, we will pay up to an additional 5% of the PART A: PROPERTY INSURANCE limit for Your reasonable expenses in debris removal of the Insured Vessel.
In the case of a Total Loss or Constructive Total Loss, the priority rights set forth in Article 6.6.1 as to scheduling the Replacement Launch are subject to any pre-existing commitment(s) or obligation(s) Sea Launch may have to a Third Party customer(s).