<p>In the event of properties or spare parts currently insured under this policy becoming obsolete following an indemnifiable loss, such spare parts or properties shall also be deemed to be a constructive total loss.</p>

<p>Payment under this clause will be on the basis of the cost of buying the equivalent spare parts or property for the new machine/eqipment. For those parts or properties not replace, settlement will be on the basis of the original cost price.</p>

<p>No betterment shall be applied in the settlement under this clause.</p>
