Unrepaired Damage

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In case, damage repairs for which Underwriters are liable are not effected and the vessel is not sold during the currency of the policy, the Shipowner on expiry of the policy term can recover a sum reflecting reasonable depreciation in the market value of the vessel arising from such Unrepaired Damage, but not exceeding the reasonable cost of repairing such damage. The Adjustment for Unrepaired Damage claim is prepared in the manner similar to a Particular Average Adjustment.

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