standing time or down time definition
standing time or down time means the time calculated from the moment a vehicle becomes unavailable for rental activity in the CREDITOR’s normal course of business, if due to damage, until such time as the vehicle again becomes available for rental activity, or if due to theft of the vehicle, until the insurance CREDITOR (whether the APPLICANT’s own or the CREDITOR’s insurance, whichever is applicable) has paid out for the theft of the vehicle, or if due to damage beyond economic repair, until the date which the CREDITOR is reimbursed for the loss;
standing time or down time means the time calculated from the moment a vehicle becomes unavailable for rental activity in the COMPANY’s normal course of business, if due to damage, until such time as the vehicle again becomes available for rental activity, or if due to theft of the vehicle, until the insurance company (whether the HIRER’S own or the COMPANY’s insurance, whichever is applicable) has paid out for the theft of the vehicle, or if due to damage beyond economic repair, until the date which the COMPANY is reimbursed for the loss;