Liability Reduction definition
Liability Reduction means the amount for which You will be liable to pay in the event of Loss or Damage to the Vehicle as set out in Rental Vehicle Agreement Part A, which may be reduced by purchase of Reduction Options subject to the terms and conditions of this Agreement.
Liability Reduction means the ability of the Underwriters, in their sole and absolute discretion, to reduce the size of the Offering by an amount which does not exceed the amount by which the aggregate Offering Price subscribed for by Partially Excluded Purchasers is less than $1,500,000;
Examples of Liability Reduction in a sentence
An extra day is strictly subject to availability, and will be charged at a fixed rate of $75 p/day; other costs such as Liability Reduction etc.
If we decide to increase the DLR Fee and/or Reduced Liability Sum then you may terminate the operation of clause 10 (Damage Liability Reduction clause) in accordance with clause 10.4.
Overhead and Underbody damage is not covered by any Liability Reduction options and you are responsible for the full cost.