Common use of Replacement Plan Clause in Contracts

Replacement Plan. If You purchased a Replacement Plan, in the event of a covered claim, We will replace the Product with a new, rebuilt or refurbished Product of equal or similar features and functionality, not necessarily same brand, or, at Our sole discretion, reimburse You in the amount of the original purchase price of Your covered Product including taxes, as indicated on Your receipt. Replacement of Your Product will fulfill this Service Agreement in its entirety and will discharge all further obligations under this Service Agreement, where allowed by law. The Replacement Plan is limited to one replacement. We will pay for the cost of shipping Your replacement product back to You if Your Product is replaced. The Replacement Plan is not transferable.