Replacement Value Clause Samples

Replacement Value. ‌ In the case of (A) and (B) above there must be a rider to the Artist's contract executed which clearly stipulates the replacement value of the Artist's wardrobe item in the event of loss or damage, and the agreement of the Theatre to reimburse the Artist for that amount should such loss or damage occur pursuant to the provisions of Article 32:00.

Replacement Value. Replacement Value is the cost of reproduction of a similar Building with similar specifications at the current Market Price on the date of Valuation. It is also called as Reproduction Value or Reinstatement Value.

Replacement Value. Equipment coverage shall be provided in replacement cost basis. Lessee agrees to whatever replacement value is set by Lessor. If provided on actual cash basis, and in the event of loss and/or damage, Lessee shall pay the difference between the actual cash value and replacement cost. If the property is in need of repair upon Lessee’s return of same, Lessee shall pay all costs of such repair. If the Property is damaged beyond repair or lost or destroyed from any cause, Lessee shall pay Lessor the replacement cost for such Property, without any allowance for depreciation or obsolescence. Repair or replacement of said equipment will be the sole, good faith decision of the Lessor. It is further understood and agreed that Lessee shall be obligated for loss of rental income until such time as equipment is fully repaired and returned to Lessor or full payment in settlement of loss received by Lessor.

Replacement Value. The 200 Consolidated Building IH Units will be multiplied by $450,000 to determine the replacement value for the IH Units (Replacement Value);

Replacement Value. The term “full replacement value” means the actual replacement cost thereof from time to time, including increased cost of construction endorsement, with no reductions or deductions. Tenant shall, in connection with each annual policy renewal, deliver to Landlord a redetermination of the full replacement value by the insurer or an endorsement indicating that the Leased Property is insured for its full replacement value. If Tenant makes any Alterations to the Leased Property, Landlord may have such full replacement value redetermined at any time after such Alterations are made, regardless of when the full replacement value was last determined.

Replacement Value. CCC shall, at its option, either obtain replacement value insurance for damage by fire or casualty to the Convention Center, or self insure for an equivalent amount. In the event that the Convention Center or any portion thereof shall be damaged or destroyed at any time or times during the term hereof by fire, casualty or any other cause, Management Company shall give prompt notice to CCC and CCC shall, to the extent of insurance proceeds or self insurance, with due diligence, repair, rebuild or replace the same so that after such repairing, rebuilding or replacing, the Convention Center shall be substantially the same, to the extent of insurance proceeds or self insurance, as prior to such damage or destruction. If CCC fails to undertake such work within ninety (90) days after notice of the fire or other casualty, or shall fail to complete same diligently, within a reasonably time period agreed to between CCC and Management Company, Management Company may, at its option, terminate this Agreement by written notice to CCC effective as of the date sent. Notwithstanding anything to the contrary contained herein, to the extent such loss is not covered by insurance, CCC shall not have any obligations for repair, rebuilding or replacing the Convention Center in the event all or a substantial part of the Convention Center shall be destroyed or damaged by fire or casualty.

Replacement Value. The term "FULL REPLACEMENT VALUE" means the actual replacement cost thereof from time to time including increased cost of construction endorsement, with no reductions or deductions. Tenant shall, in connection with each annual policy renewal, deliver to Landlord a redetermination of the full replacement value by the insurer or an endorsement indicating that the Premises is insured for its full replacement value. If Tenant makes any alterations to the Premises, Landlord may have such full replacement value redetermined at any time after such alterations are made, regardless of when the full replacement value was last determined.

Replacement Value. The Replacement Value shall be determined by the Non-Defaulting Party or by the Non-Affected Party (or, if there are two Affected Parties, by each Affected Party). For a given Transaction, the Replacement Value shall be the arithmetic mean of quotations from at least two prime market participants. Each of the quotations shall be expressed as the amount that the market participant would pay or receive at the Termination Date if such market participant had to assume as from such date the whole of the financial rights and obligations of the other Party under the relevant Transaction. The resulting amount shall be expressed as a positive amount if it is payable to the market participant; otherwise, it shall be expressed as a negative amount. If only one quotation can be obtained, the Replacement Value shall be determined by such quotation. If no quotation can reasonably be obtained, the Replacement Value shall be equal, as appropriate, to the profit (and shall be a negative amount) of the Party responsible for the calculation or to the loss (and shall be a positive amount) of such Party incurred as a result of termination of the Transaction. The Party determining the Replacement Value shall select the market participants from whom the above quotations are requested. Refers to the difference provided for under Article 8.1.2.

Replacement Value replacement value, as agreed by both parties and updated every five years, at a minimum