Sound Value definition

Sound Value means the value of the Insured Vessel in a seaworthy condition, charter free, being her Proper Value immediately prior to an incident or casualty insured under the Policy of Insurance.
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Examples of Sound Value in a sentence

  • Sound Value Refers to the value of the Distribution System and/or the DPG (as the case may be) and related assets and equipment owned by the MGSP.

  • The Sound Value shall be the value of the Generation Facilities and/or the Distribution System as determined by an independent appraiser appointed jointly by the Parties In case of disagreement in the appointment, the DOE shall appoint the appraiser.

  • The Sound Value shall be the value of the Generation Facilities as determined by an independent appraiser appointed jointly by the Parties.

  • In addition, DU shall have the right to acquire any Generation Facilities subject to the payment of the Sound Value.

  • Should DU terminate the Contract, DU shall purchase the Distribution System and Generation Facilities (if any) at the Sound Value less any amount received or receivable from insurance proceeds.