Transit Loss definition

Transit Loss means a single occurrence of the loss of valuables from a vehicle owned operated by, or under the control of Bidder's designated subcontractor/CMA.

Examples of Transit Loss in a sentence

  • HSM shall reimburse MPC for in transit loss of Cargo in excess of one-half percent (0.5%) by volume, or such other percentage as the Parties may agree in writing shall apply to certain Products (“In Transit Loss Allowance”).

  • Stateline Return Flow Transit Loss (OAR Paragraph 8) Additional subaccounts may be approved only by mutual agreement by both States.

  • The amount payable by HSM to MPC for any such in transit loss shall be an amount equal to (x) the volume loss in excess of the In Transit Loss Allowance, multiplied by (y) the per unit spot value of the relevant product using an appropriate industry market index for the delivery location reference market.