DAMAGE AND/OR LOSS OF PROPERTY Clause Samples

The "Damage and/or Loss of Property" clause defines the responsibilities and liabilities of parties in the event that property is damaged or lost during the course of their relationship. Typically, this clause outlines which party bears the risk for such incidents, whether it is the owner of the property, the service provider, or another involved party, and may specify procedures for reporting, assessing, and compensating for the damage or loss. Its core function is to allocate risk and clarify financial responsibility, thereby reducing disputes and ensuring all parties understand their obligations if property is harmed or goes missing.
DAMAGE AND/OR LOSS OF PROPERTY. The owner of a vessel or vehicle must assume all liability for loss to his/her property of any kind while it is within the limits of the boundaries of the District. The San Mateo County Harbor District assumes no risk on account of fire, theft, act of God, or damages of any nature to vessels or vehicles.
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DAMAGE AND/OR LOSS OF PROPERTY. The Board will provide payment and/or reimbursement for any damage to or loss of personal property, as per the stated coverage of its insurance policy. Damage to private automobiles on school property will be submitted to the unit member’s automobile insurance for coverage. The cost of any deductible expense may be submitted to the Board for payment consideration provided that there is an eyewitness account and/or site surveillance that the damage was directly caused by actions of the District.
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Related to DAMAGE AND/OR LOSS OF PROPERTY

  • Loss of Property all or a substantial part of the business or assets of any Security Party is destroyed, abandoned, seized, appropriated or forfeited for any reason, and such occurrence in the reasonable opinion of the Agent (acting on the instructions of the Majority Lenders) has or could reasonably be expected to have a Material Adverse Effect; or

  • Damage or Loss 3.1 All laptops and batteries are covered by a manufacturer’s warranty. The warranty covers manufacturer’s defects and normal use of the laptop. It does not cover negligence, abuse, malicious or accidental damage.(e.g cracked LCD screens are not covered under warranty) 3.2 Any problems, vandalism, damage loss or theft of the laptop must be reported immediately to the school. 3.3 In the case of a suspected theft a police report must be made by the family and an event number provided to the school. 3.4 In the case of accidental loss or damage a witnessed statutory declaration signed by the parent/carer should be provided and a major damage or loss report must be filled out by the student. The repair costs are subsidised. (No charge for labour). 3.5 If a laptop is damaged or lost the principal will determine whether replacement is appropriate and/or whether or not a student retains access to a laptop for home use. 3.6 Students will be required to replace lost or damaged chargers.

  • Damage to Property Of Others 1. We will pay, at replacement cost, up to $1,000 per "occurrence" for "property damage" to property of others caused by an "insured". 2. We will not pay for "property damage": a. To the extent of any amount recoverable under Section I;

  • Damage to Tenant's Property Landlord shall not be liable for any damage to Tenant's property except for that due to the willful neglect of Landlord. Tenant shall be responsible for the insuring of all personal property. Landlord strongly recommends renters insurance.

  • Restoration of Property In the event Railroad authorizes Contractor to take down any fence of Railroad or in any manner move or disturb any of the other property of Railroad in connection with the work to be performed by Contractor, then in that event Contractor shall, as soon as possible and at Contractor's sole expense, restore such fence and other property to the same condition as the same were in before such fence was taken down or such other property was moved or disturbed. Contractor shall remove all of Contractor's tools, equipment, rubbish and other materials from Railroad's property promptly upon completion of the work, restoring Railroad's property to the same state and condition as when Contractor entered thereon.