Net Replacement Cost definition
Net Replacement Cost or “NRC” means the Gross Replacement Cost less accumulated depreciation based on Gross Replacement Cost.
Net Replacement Cost means the actual replacement cost of the Building (excluding foundation and excavation costs, but including the cost of debris removal and of replacing all Equipment appurtenant to, located in or used in connection with the Building) without physical depreciation.
Net Replacement Cost means the total of current charges for the replacement facility, ex- clusive of betterments, and the costs of removal of the replaced facility less the amounts credited for materials salvaged or scrapped.
Examples of Net Replacement Cost in a sentence
Landlord shall have the right to review Tenant's determination of the Net Replacement Cost, and, if Landlord disagrees with Tenant's determination, Landlord and Tenant shall discuss the determination and seek to agree upon a mutually satisfactory valuation.
If Landlord and Tenant are unable to agree upon the Net Replacement Cost within thirty (30) days from Landlord's receipt of Tenant's determination, then, the value shall be established by arbitration in accordance with Article 35.
More Definitions of Net Replacement Cost
Net Replacement Cost means the quantity of Replacement Fuel purchased by Buyer during the month of non- delivery times the positive, incremental difference between (i) the total delivered cost (on a per MMBtu basis), reasonably incurred by Buyer to acquire such Replacement Fuel and (ii) the total delivered cost (on a per MMBtu basis) of such gas that would have been incurred by Buyer had such quantity been delivered by Seller at the Delivery Points hereunder. Within thirty (30) days after the actual quantities delivered hereunder during the month in question are confirmed by Viking, Buyer shall render to Seller a statement detailing the difference between the Monthly Contract Quantity and the quantity delivered, the quantity of Replacement Fuel, the costs and description of costs incurred by Buyer for such Replacement Fuel and Buyer's Net Replacement Cost. Within thirty (30) days of receipt of such statement, Seller shall reimburse Buyer for Buyer's Net Replacement Cost for the month in question, Buyer agrees to acquire Replacement Fuel at the lowest reasonable price available to Buyer. Seller's payment to Buyer for Buyer's Net Replacement Cost incurred in obtaining Replacement Fuel pursuant to this paragraph shall constitute Buyer's sole and exclusive remedy for Seller's failure to deliver the Monthly Contract Quantity pursuant to this Agreement for the month in question and Seller shall not, under any circumstances whatsoever, be liable to Buyer for any other costs, charges, expenses, losses or damages (except as set forth in Section 6.3 below) of any nature or kind whatsoever, whether direct or indirect, foreseeable or not foreseeable, consequential or incidental and arising from or in any way attributable to or suffered as the result of Seller's failure to deliver gas to Buyer pursuant to the terms of this Agreement during the month in question; except that, if Seller's failure to deliver the Monthly Contract Quantity is as the result of gross negligence or willful misconduct on Seller's part, then Buyer's remedies shall not be so limited.