Risk of Damage definition

Risk of Damage means a risk which results in physical loss or damage to the Works or other property belonging to either Party, other than a Commercial Risk.
Source 1

Examples of Risk of Damage in a sentence

  • Risk of Damage from Earthquakes in the U.S. (From: Stearns and Miller, 1977).

  • The Risk of Damage to the Goods shall be borne by the Seller from the beginning until the time of the proper Handover and Acceptance of the Goods between the Seller and the Buyer.

  • ACTION: The Head of Resources and Planning would consider the splitting of risk P02.01RR Risk of Damage to the National Botanical Collections and revising “risk ownership”.

  • An incentive paid to a current Federal employee if it has been determined that the unusually high or unique qualifications of the employee or a special need of the organization for the employee's services in a position critical to the mission of the organization makes it essential to retain the employee and that the employee would be likely to leave the Federal service in the absence of a retention incentive.

  • Risk of Damage to the Company’s VesselsThe vessels owned by the Company may experience damage at sea, thus causing repair costs and loss of potential income derived from such operations.

  • The Risk of Damage can only be insured under the procedure laid down in Clause 6.1.8. The Risk of Damage shall be in effect on a global scale.

  • None Very low Low Medium HighPercieved Risk 37.3% 49.3%No YesDon't Know Figure 7: a) Percentage Frontal Property Respondents (n=67) that Experienced Property Damage,b) Perceived Current Risk of Damage to Property and c) Likelihood of a Risk Increase due to Future Sea Level Rise 4.2. Property Value The average value of properties in the study area was R2 088 657 (n=275, ± R1 855 687 S.D.).

  • Third, since the 9G forward restraint standard predated the B-747 by more than a decade, it did not account for many of the B-747's exceptional characteristics.

  • Minimising the Risk of Damage to Concrete Guidance Notes and Recommended Practice (Second Edition incorporating Amendment 1:2012) TR 3Alkali Silica Reactionconcrete prism testing is in progress.Initial results are promising with consistent trends reported and agreement betweentest methods.

  • The potential applications were evaluated based on the following six basic criteria: • Cost of Manufacturing • Significance of Impact of VIP on Performance of a Home • Required Life Span of Material • Risk of Damage on Jobsite • Risk of Damage after Construction • Additional Installation Cost.

Related to Risk of Damage

  • Physical Damage means tangible damage to a Property that materially adversely affects the use, marketability, or value of the Property, whether caused by accident or otherwise, including, but not limited to damage caused by reason of fire, destruction of tangible property, defects in construction, land subsidence, earth movement or slippage, flood, earthquake, war, civil insurrection, or riot; and further, Physical Damage includes Environmental Impairment and the destruction or removal of chattel items that are considered part of the Property (see Section I., KK., [Property]) For purposes of this definition "material" shall mean an amount equal to or greater than $1,500.00 such that the estimated cost to repair a Property is $1,500.00 or more before the exclusion set forth in Section III., G., (Physical Damage Exclusion) would apply to exclude coverage for a Loan. The presence of radon gas, lead paint or asbestos in the dwelling on the Property shall not be deemed to be Physical Damage.

  • Direct Damage has the meaning given in clause 24.2; "Dispute" has the meaning given in clause 23.1;

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Cover Damages means, with respect to any Delivery Shortfall, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 and the Cover Sheet, multiplied by the quantity of that Delivery Shortfall, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.