Latent Damage definition
Latent Damage means damage that is concealed, not apparent or obvious, and includes but not limited to inherent fragility, brittleness, or instability;
Latent Damage means damage or a Product defect that exists as at the Delivery Date but is not discoverable by a reasonable inspection.
Latent Damage shall have the meaning set forth in Section 7.1 hereof.
Examples of Latent Damage in a sentence
Notwithstanding the foregoing, Vehicles containing Latent Damage shall not be considered “delivered” for fifteen (15) calendar days after actual delivery at the Destination Point (i.e., TMS/USA shall have nine (9) months plus fifteen (15) days after actual delivery to file a Claim for Latent Damage).
Latent Damage shall apply only to those Vehicles that have been documented (or otherwise identified pursuant to mutually agreed upon procedures) as having been damaged while in the care, custody or control of Carrier or any of its employees, agents, representatives or contractors.
More Definitions of Latent Damage
Latent Damage means damage to Vehicles which is undetectable during a standard receiving inspection. Latent Damage shall apply only to those Vehicles that have been documented (or otherwise identified pursuant to mutually agreed upon procedures) as having been damaged while in the care, custody or control of Carrier or any of its employees, agents, representatives or contractors. The term “Actual Losses” shall include without limitation all damage and losses that are described in Appendix B attached hereto and incorporated herein by this reference. Other than Damage Exceptions described in Section 3.10 hereof and damages to Vehicles solely to the extent specifically excused pursuant to Section 11 hereof, and notwithstanding any rights or remedies the parties may have under 49 U.S.C.A. § 14706, which rights and remedies they hereby waive, Carrier shall be fully liable to TMS/USA for: (a) any Actual Losses in connection with the Vehicles which are lost, damaged (including Latent Damage or contamination) or destroyed between the time such Vehicles have been tendered to Carrier for transport at the Origin Point and the time the Vehicles are tendered to TMS/USA at the applicable Secured Area at the Destination Point, or whenever the Vehicles are in the possession of or under the care, custody or control of Carrier (or any of its employees, agents, representatives or contractors), and (b) any loss, damage, liability, cost, claim or destruction which arises directly or indirectly from the performance of or failure to perform properly the obligations pursuant to this Agreement by Carrier or any of its employees, agents, representatives or contractors. The amount to be paid by Carrier to TMS/USA for loss of or damage to Vehicles shall be computed as set forth in Appendix B. In the event of damage to Vehicles, Carrier shall not, under any circumstance, cause, suffer or permit the sale or disposal of any of the Vehicles or parts thereof as salvage or otherwise. Carrier’s obligations with respect to this Section 7.1 shall survive the termination or expiration of this Agreement.