Common use of Residual Value Clause in Contracts

Residual Value. In the event of an occurrence giving rise to a claim recoverable within the terms and conditions of this policy, the residual value of any equipment and/or materials used or purchased by the Insured in respect of such occurrence will inure to the benefit of Insurers in the adjustment of such claim.

Residual Value. In the event of an occurrence giving rise to a claim recoverable within the terms and conditions of this policy, the residual value of any equipment and/or materials used or purchased by the Insured Assured in respect of such occurrence will inure ▇▇▇▇ insure to the benefit of Insurers Underwriters in the adjustment of such claim.