Betterment definition

Betterment means any upgrading of an Owner Utility being adjusted that is not attributable to the construction of the Project and is made solely for the benefit of and at the election of the Owner, including but not limited to an increase in the capacity, capability, efficiency or function of the adjusted Utility over that provided by the existing Utility facility or an expansion of the existing Utility facility; provided, however, that the following are not considered Betterments:

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Betterment means a repair or a replacement to property that results in a condition superior to or more extensive than its form and condition immediately prior to the loss. Betterment shall not mean the additional costs of repair or replacement of property that is required by applicable governmental law or regulation as included within Replacement Cost.

Betterment means any upgrading of a replacement Facility that is made solely for the benefit of and at the election of the Facility Owner, including an increase in the capacity, capability, level of service, efficiency, duration or function of the replacement Facility over that which was provided by the existing Facility; provided, however, that the following are not considered Betterments in such cases: Any upgrading necessary for safe and effective construction of the HSR Project; replacement devices or materials that meet equivalent standards although they are not identical; replacement devices or materials no longer regularly manufactured with the next highest grade or size; any upgrading required by applicable laws; replacement devices or materials which are used for reasons of economy (e.g. non-stocked items may be uneconomical to purchase); or any upgrading required by the applicable standard specifications, standards of practice and construction methods applied to comparable facilities constructed by or for the Facility Owner at its own expenses, which are in effect as of the date of execution of the applicable Utility Agreement.

Examples of Betterment in a sentence

• DB Contractor shall not be entitled to any increase in the Price or to any time extension on account of the terms of any Utility Agreement (including those related to any Betterment).

• The Owner agrees that the photos provided to the Village as part of the Application Materials and this Agreement may be used for promoting the Waunakee Housing Betterment Fund Program.

• The Owner has applied to the Village to participate and receive a grant from the Village under the Waunakee Housing Betterment Fund for a home-improvement project located at [insert address] (the “Project”), including filing with the Village a completed Waunakee Housing Betterment Fund Application and a completed Waunakee Housing Betterment Fund Pre-Documentation Checklist, and all documents required by the application and checklist (collectively, the “Application Materials”).

• The amount of compensation payable by the Utility Owner to DB Contractor for a Betterment shall be determined pursuant to the process set forth in the applicable Utility Agreement.

• Any Betterment performed as part of a Utility Adjustment, whether by DB Contractor or by the Utility Owner, shall be subject to the same standards and requirements as if it were a necessary Utility Adjustment, and shall be addressed in the appropriate Utility Agreement.

More Definitions of Betterment

Betterment means any upgrade to a facility being relocated that is made solely for the benefit of the public water system and that is not attributable to the improvement, construction, reconstruction, or alteration of roads, streets, or highways undertaken by the department.

Betterment means a difference in construction of an element of the Project that results from the application of standards that the Government determines exceed those that the Government would otherwise apply to construction of that element.

Betterment means an improvement that results in greater value than before the loss occurred.

Betterment means a difference in the construction of an element of the Project that results from the application of standards that the Government determines exceed those that the Government would otherwise apply to the construction of that element. The term does not include any construction for features not included in the Project as defined in paragraph A. of this Article.

Betterment means replacement of existing infrastructure with new where the infrastructure is beyond its useful life; or replacement with a kind, size or type of infrastructure facility that differs from that existing as of the commencement of this Agreement. If the facility is near the end of its useful life, "Betterment" includes that portion of the cost associated with replacing new that is equivalent to the portion of the expended useful life when compared to the entire useful life.

Betterment means the difference in cost between the intended Relocation of Owner’s Facility and a Relocation which would provide Owner with equivalent substitute Facilities for those Facilities requiring Relocation to accommodate the HSR Project. As employed herein, Betterment does not include those differences in cost caused by changes in manufacturing standards, availability of materials, or regulatory requirement.

Betterment means a replacement or major renovation of an existing asset or unit of an existing asset by an improved or superior asset or unit, the effect of which is to improve the efficiency of the primary asset or lengthen the remaining service life.