AAR Value definition
AAR Value means, with respect to any railcar included in the Seller Equipment or Replacement Equipment, the settlement value of such railcar as determined in accordance with Rule 107—Damaged and/or Destroyed Cars (or a successor rule) of the Association of American Railcars as published in the most recent edition of the Field Manual of the A.A.R. Interchange Rules (or a successor publication).
Examples of AAR Value in a sentence
If Seller shall elect to deliver Replacement Cars to Buyer pursuant to Section 5.2, at the same time that Seller delivers the Ineligible Car Value Statement, Seller shall also deliver to Buyer a statement setting forth in reasonable detail the calculation of the AAR Value of the Replacement Cars (the “Replacement Car Value Statement”).