Coverage; Coverage Period; Payment Sample Clauses
Coverage; Coverage Period; Payment. Subject to the Limitation of Liability set forth in Section 6 of this Contract:
a. This Contract covers only the Equipment located at the Property as specifically identified in Sections 4 and 5 of the Contract for the service(s) on your Invoice. Repair or replacement of covered Equipment is subject to maximum annual dollar limits as provided in this Contract. In aggregate, and notwithstanding anything to the contrary as may be set forth in this Contract, the
b. Subject to purchase of Contracts for multiple-unit properties in accordance with Section 5(e) and Section 10, the purchaser of this Contract agrees and acknowledges that coverage described in these terms and conditions are solely available to Real Estate Buyers of owner-occupied Property. The Company provides an optional add-on coverage for use in conjunction with this Contract for a Property that is not owner-occupied. The Company reserves the right to cancel this Contract or require the purchase of the optional add-on coverage prior to covering any service request should it determine that the Property is not owner-occupied.
c. The Company has the sole right to decide whether to repair or replace the Equipment. All replacements authorized by Company will be of a similar or equivalent quality to the covered Equipment. Should you decide to replace any Equipment with respect to which the Company has decided to cover the repair, the Company will only pay the amount the repair would have cost (less the applicable service fee), and you will be responsible for the difference in cost between repair and replacement.
d. Coverage under this Contract begins after existing coverage expires for Properties with existing Company warranties, or thirty (30) days after Company acceptance of your order for new Properties, and continues for one (1) year thereafter (the “Coverage Period”). Payment of the fees required for coverage under this Contract as specified in the Invoice are due and payable monthly. If payment is not received within fourteen (14) days after any due date, the Company has a right to cancel this Contract and pursue reimbursement for any claims previously paid, subject to any state specific cancellation limitations. At the Company’s discretion, it will provide you options for continuation of service prior to the end of your Coverage Period. The Company’s standard method for continuation is described in the Section 9. (“Renewals”).
e. You will be required to pay the lesser of the applicable service fe...
Coverage; Coverage Period; Payment. Subject to the Limitation of Liability set forth in Section 5 of this Contract:
a. This Contract covers only the Equipment located at the Property as specifically identified in Section 4 of the Contract for the service(s) on your Invoice. Repair or replacement of covered Equipment is subject to maximum annual dollar limits as provided in this Contract. In aggregate, and notwithstanding anything to the contrary as may be set forth in this Contract, the Company will pay no more than $1,000 for covered Equipment in this Contract.
b. The Company has the sole right to decide whether to repair or replace the Equipment. All replacements authorized by Company will be of a similar or equivalent quality to the covered Equipment. Should you decide to replace any Equipment with respect to which the Company has decided to cover the repair, the Company will only pay the amount the repair would have cost (less the applicable service fee), and you will be responsible for the difference in cost between repair and replacement.
c. Coverage is available only in conjunction with your anticipated sale of the Property and the purchase of the Company’s Standard Real Estate Buyer’s coverage for the Property. Your coverage becomes effective the day the Invoice is received by the Company and continues until the earlier of (a) expiration of the initial listing period (up to 180 days), (b) close of sale of the Property, or (c) termination of your Property being listed for sale (the “Coverage Period”). At the Company’s discretion, it will provide you options for continuation of service prior to the end of your Coverage Period.
d. You will be required to pay the lesser of the applicable service fee ($150) or the actual cost of the service to your selected contractor for each service request. Further, if your selected contractor repairs or replaces Equipment that is not covered by this Contract, or charges more for the service than our coverage limits, you will be required to pay the excess expenses.
e. You continue to be responsible for normal maintenance on all covered Equipment. Equipment is not covered under this Contract unless it is in safe working order at the beginning of coverage. To be covered, Equipment must be installed and located within the confines of the perimeter of the foundation of the primary dwelling (except for air conditioning) of the Property. This Contract provides coverage for unknown defects only if the defect is not detectable through visual inspection or simp...