Event Of Loss definition: Copy, customize, and use instantly
Introduction
The term "Event Of Loss" refers to an occurrence or situation that leads to damage, destruction, or other financial loss of property, assets, or rights. This event typically triggers insurance claims, liability, or obligations to compensate for the loss. It is commonly used in contracts related to insurance, leasing, and lending to define the conditions under which a party may seek compensation or take action in the event that a specified asset or property is lost or damaged.
Below are various examples of how "Event Of Loss" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Event Of Loss" as a specific incident or occurrence that results in the destruction, theft, or damage of property, triggering the terms of an insurance policy or financial obligation to compensate for the loss.
This definition ties "Event Of Loss" to property damage or destruction, triggering insurance or compensation.
"Event Of Loss" means a specific incident or occurrence that results in the destruction, theft, or damage of property, triggering the terms of an insurance policy or financial obligation to compensate for the loss.
Definition of "Event Of Loss" as a defined occurrence under an insurance contract or agreement, where the insured asset is damaged, destroyed, or rendered unusable, leading to the initiation of a claim for reimbursement.
This definition connects "Event Of Loss" to an insurance contract and the initiation of claims.
"Event Of Loss" refers to a defined occurrence under an insurance contract or agreement, where the insured asset is damaged, destroyed, or rendered unusable, leading to the initiation of a claim for reimbursement.
Definition of "Event Of Loss" as any event or condition that causes a decrease in the value, usability, or existence of an asset, which may lead to compensation, settlement, or claim under the relevant contract or policy.
This definition ties "Event Of Loss" to a decrease in asset value or usability, triggering compensation or claims.
"Event Of Loss" means any event or condition that causes a decrease in the value, usability, or existence of an asset, which may lead to compensation, settlement, or claim under the relevant contract or policy.
Definition of "Event Of Loss" as the situation in which property or assets covered by an agreement are either lost, destroyed, or significantly impaired, resulting in the need for compensation or replacement by the liable party.
This definition connects "Event Of Loss" to the loss or impairment of covered property or assets.
"Event Of Loss" refers to the situation in which property or assets covered by an agreement are either lost, destroyed, or significantly impaired, resulting in the need for compensation or replacement by the liable party.
Definition of "Event Of Loss" as an incident that leads to a loss of value, function, or existence of an asset, triggering a legal or contractual obligation to make a claim for damages, repairs, or financial restitution.
This definition ties "Event Of Loss" to triggering legal or contractual obligations for claims or restitution.
"Event Of Loss" means an incident that leads to a loss of value, function, or existence of an asset, triggering a legal or contractual obligation to make a claim for damages, repairs, or financial restitution.
Definition of "Event Of Loss" as an occurrence, accident, or circumstance where an asset is destroyed, damaged, or made unusable, prompting the affected party to seek compensation as per the terms of the contract or insurance policy.
This definition connects "Event Of Loss" to a circumstance leading to asset destruction or damage, prompting compensation claims.
"Event Of Loss" refers to an occurrence, accident, or circumstance where an asset is destroyed, damaged, or made unusable, prompting the affected party to seek compensation as per the terms of the contract or insurance policy.
Definition of "Event Of Loss" as any triggering incident or occurrence that results in the destruction or damage of property or an asset, leading to an actionable claim or obligation for compensation.
This definition ties "Event Of Loss" to an actionable claim for compensation due to destruction or damage.
"Event Of Loss" means any triggering incident or occurrence that results in the destruction or damage of property or an asset, leading to an actionable claim or obligation for compensation.
Definition of "Event Of Loss" as a specified event, often defined in insurance policies or contracts, that results in the impairment, damage, or destruction of an asset, triggering the terms of the agreement for restitution.
This definition connects "Event Of Loss" to impairment or damage of an asset, triggering the agreement's terms.
"Event Of Loss" refers to a specified event, often defined in insurance policies or contracts, that results in the impairment, damage, or destruction of an asset, triggering the terms of the agreement for restitution.
Definition of "Event Of Loss" as a loss event defined in contractual agreements, where specific conditions such as damage, theft, or destruction of property cause the obligation to compensate, settle, or replace the property.
This definition ties "Event Of Loss" to conditions that cause obligations to compensate or settle under the agreement.
"Event Of Loss" means a loss event defined in contractual agreements, where specific conditions such as damage, theft, or destruction of property cause the obligation to compensate, settle, or replace the property.
Definition of "Event Of Loss" as a defined loss or occurrence that results in the loss of value, condition, or usability of an asset, leading to the liability for compensation or action according to the contract or insurance policy.
This definition connects "Event Of Loss" to a loss of value, leading to liability for compensation.
"Event Of Loss" refers to a defined loss or occurrence that results in the loss of value, condition, or usability of an asset, leading to the liability for compensation or action according to the contract or insurance policy.
Definition of "Event Of Loss" as the occurrence of a situation in which a covered asset is harmed, destroyed, or made unusable, requiring the responsible party to compensate for damages or replace the asset.
This definition ties "Event Of Loss" to situations where an asset is harmed, requiring compensation or replacement.
"Event Of Loss" means the occurrence of a situation in which a covered asset is harmed, destroyed, or made unusable, requiring the responsible party to compensate for damages or replace the asset.
Definition of "Event Of Loss" as a defined occurrence, such as damage or destruction of insured property, that activates the terms of an insurance policy or contract to compensate the affected party.
This definition connects "Event Of Loss" to activating insurance policies or contracts upon property damage or destruction.
"Event Of Loss" refers to a defined occurrence, such as damage or destruction of insured property, that activates the terms of an insurance policy or contract to compensate the affected party.
Definition of "Event Of Loss" as an occurrence or circumstance where an asset becomes damaged, destroyed, or unfit for use, causing the need for financial compensation or restitution as outlined in the governing contract.
This definition ties "Event Of Loss" to financial compensation or restitution due to damage or destruction of an asset.
"Event Of Loss" means an occurrence or circumstance where an asset becomes damaged, destroyed, or unfit for use, causing the need for financial compensation or restitution as outlined in the governing contract.
Definition of "Event Of Loss" as a specified incident that causes harm, damage, or destruction to property, triggering an obligation for compensation, restitution, or repair, as stipulated by the terms of the agreement or insurance.
This definition connects "Event Of Loss" to triggering obligations for compensation or repair after damage or destruction.
"Event Of Loss" refers to a specified incident that causes harm, damage, or destruction to property, triggering an obligation for compensation, restitution, or repair, as stipulated by the terms of the agreement or insurance.
Definition of "Event Of Loss" as a situation defined within insurance or contract terms where a property or asset suffers loss, damage, or impairment, requiring a response or action by the responsible party or insurer.
This definition ties "Event Of Loss" to triggering action or response due to asset impairment or loss.
"Event Of Loss" means a situation defined within insurance or contract terms where a property or asset suffers loss, damage, or impairment, requiring a response or action by the responsible party or insurer.
Definition of "Event Of Loss" as a condition where assets or property, covered by an agreement or insurance policy, are harmed, stolen, or destroyed, initiating the need for compensation or legal action.
This definition connects "Event Of Loss" to initiating the need for compensation or legal action due to harm or destruction of assets.
"Event Of Loss" refers to a condition where assets or property, covered by an agreement or insurance policy, are harmed, stolen, or destroyed, initiating the need for compensation or legal action.
Definition of "Event Of Loss" as a pre-agreed event under an insurance or contract, where damage, destruction, or loss of an asset results in the obligation to compensate, settle, or replace the lost item or asset.
This definition ties "Event Of Loss" to a pre-agreed event triggering compensation, settlement, or replacement.
"Event Of Loss" means a pre-agreed event under an insurance or contract, where damage, destruction, or loss of an asset results in the obligation to compensate, settle, or replace the lost item or asset.
Definition of "Event Of Loss" as an occurrence or event that results in the partial or total loss of property, asset, or value, triggering an obligation under an insurance policy or legal agreement.
This definition ties "Event Of Loss" to the triggering of obligations due to loss of property or value.
"Event Of Loss" means an occurrence or event that results in the partial or total loss of property, asset, or value, triggering an obligation under an insurance policy or legal agreement.
Definition of "Event Of Loss" as an incident that leads to the impairment, destruction, or loss of value of an asset, creating grounds for a claim for compensation or restitution according to contractual terms.
This definition connects "Event Of Loss" to grounds for claims or restitution based on asset impairment or destruction.
"Event Of Loss" refers to an incident that leads to the impairment, destruction, or loss of value of an asset, creating grounds for a claim for compensation or restitution according to contractual terms.
Definition of "Event Of Loss" as a loss-causing event that results in the loss of or damage to property or assets, which triggers a financial obligation under an insurance or contractual agreement.
This definition ties "Event Of Loss" to financial obligations triggered by asset loss or damage.
"Event Of Loss" means a loss-causing event that results in the loss of or damage to property or assets, which triggers a financial obligation under an insurance or contractual agreement.
Definition of "Event Of Loss" as the moment or occurrence when a company's assets or property are lost, damaged, or destroyed, invoking the insurance claims process or liability under a contractual agreement.
This definition connects "Event Of Loss" to initiating claims or liability due to loss, damage, or destruction.
"Event Of Loss" refers to the moment or occurrence when a company's assets or property are lost, damaged, or destroyed, invoking the insurance claims process or liability under a contractual agreement.
Definition of "Event Of Loss" as any occurrence that causes significant damage, destruction, or loss to property or assets, necessitating the implementation of contractual clauses for restitution or compensation.
This definition ties "Event Of Loss" to the need for implementing contractual clauses for restitution or compensation.
"Event Of Loss" means any occurrence that causes significant damage, destruction, or loss to property or assets, necessitating the implementation of contractual clauses for restitution or compensation.
Definition of "Event Of Loss" as a condition where an asset or property is impaired or destroyed, resulting in a claim for compensation under the terms of an insurance policy or a contractual agreement.
This definition connects "Event Of Loss" to a claim for compensation under policy or contract terms.
"Event Of Loss" refers to a condition where an asset or property is impaired or destroyed, resulting in a claim for compensation under the terms of an insurance policy or a contractual agreement.
Definition of "Event Of Loss" as an event causing the partial or total loss of assets, triggering a process that may involve claims or settlements to reimburse the affected party.
This definition ties "Event Of Loss" to a process involving claims or settlements for asset loss.
"Event Of Loss" means an event causing the partial or total loss of assets, triggering a process that may involve claims or settlements to reimburse the affected party.
Definition of "Event Of Loss" as a defined occurrence in a policy or contract in which damage, destruction, or loss of property causes the need for compensation or action under the terms of the agreement.
This definition connects "Event Of Loss" to a defined occurrence under policy or contract for compensation or action.
"Event Of Loss" refers to a defined occurrence in a policy or contract in which damage, destruction, or loss of property causes the need for compensation or action under the terms of the agreement.
Definition of "Event Of Loss" as a situation where assets are destroyed, damaged, or lost, triggering the responsible party's duty to compensate, settle, or replace the lost property according to the terms of the agreement.
This definition ties "Event Of Loss" to the duty of the responsible party for compensation, settlement, or replacement.
"Event Of Loss" means a situation where assets are destroyed, damaged, or lost, triggering the responsible party's duty to compensate, settle, or replace the lost property according to the terms of the agreement.
Definition of "Event Of Loss" as a specified incident that results in damage, destruction, or loss of assets, which obligates the liable party to compensate the affected party in accordance with the contract.
This definition connects "Event Of Loss" to the obligation for compensation as per the contract.
"Event Of Loss" refers to a specified incident that results in damage, destruction, or loss of assets, which obligates the liable party to compensate the affected party in accordance with the contract.
Definition of "Event Of Loss" as an incident where damage, theft, or destruction of property occurs, requiring the affected party to seek remedy through the terms and conditions of the insurance or legal agreement.
This definition ties "Event Of Loss" to seeking remedy through insurance or legal terms after an incident.
"Event Of Loss" means an incident where damage, theft, or destruction of property occurs, requiring the affected party to seek remedy through the terms and conditions of the insurance or legal agreement.
Definition of "Event Of Loss" as a circumstance that causes the reduction in value or destruction of an asset, triggering the need for financial compensation, repairs, or replacements as outlined in the insurance policy or agreement.
This definition connects "Event Of Loss" to triggering compensation or repairs after a reduction in asset value or destruction.
"Event Of Loss" refers to a circumstance that causes the reduction in value or destruction of an asset, triggering the need for financial compensation, repairs, or replacements as outlined in the insurance policy or agreement.
Definition of "Event Of Loss" as a situation in which property or assets are impaired or destroyed due to a covered cause, leading to a claim for restitution, settlement, or replacement as per the governing contract.
This definition ties "Event Of Loss" to a covered cause leading to claims or settlements.
"Event Of Loss" means a situation in which property or assets are impaired or destroyed due to a covered cause, leading to a claim for restitution, settlement, or replacement as per the governing contract.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.