Equivalent building definition

Equivalent building means a building or structure that is nearly as practicable the same as the building or structure lost or destroyed, using modern equivalent materials, skills and techniques that are readily available in the country that the lost or destroyed building is located in, and incorporating such alterations that are necessary to comply with any regulations that are in force on the date that the damage occurs, but subject to any limitations or exclusions to such regulations in this material damage section.
View Source
Equivalent building means a building that is nearly as practicable the same as the building lost or destroyed, using modern equivalent materials, skills and techniques that are readily available and incorporating such alterations that are necessary to comply with any regulations that are in force when the loss occurs, but subject to clause 9.2 below.
View Source
Equivalent building means a Building which is as nearly as practicable the same as the Building lost or Destroyed, using modern equivalent materials, skills and techniques that are readily available and incorporating such alterations as are necessary to comply with any regulations that are in force when the Loss Or Damage occurs, but excluding all costs and expenses of whatsoever nature in connection with seismically strengthening Insured Property to a level greater than its level before the Loss Or Damage .
View Source

More Definitions of Equivalent building

Equivalent building means: (a) a building or structure that is as nearly as practicable the same as the building or structure lost or Destroyed, using current industry accepted building materials and construction methods and incorporating such alterations as are necessary to comply with any Regulation. (b) where, as a result of any special circumstances, no building or structure that falls within the scope of paragraph 2(a) can be constructed, a building or structure that is designed to perform a purpose or function the same as or equivalent to (but not more extensive than) that performed by the building or structure lost or Destroyed.
View Source

Related to Equivalent building

  • Equivalent Load means the sum of a Market Participant’s net system requirements to serve its customer load in the PJM Region, if any, plus its net bilateral transactions.

  • apartment building means a residential use building, or the residential use portion of a mixed-use building, other than a townhouse or stacked townhouse containing four or more dwelling units each of which shall have access to above grade common halls, stairs, elevators, and yards;