A contractual obligation to 'replace or otherwise make good any loss of' a thing requires either physical replacement or its monetary equivalent, not merely payment of market value or the cost of leasing a substitute, particularly where the contract contemplates long-term ownership. The word 'otherwise' in such a clause suggests equivalence between replacement and making good, not a lesser alternative. The question of whether an insured can prove quantum against its insurer solely by proving a reasonable settlement, without demonstrating the settlement would not exceed a judgment, was left open.
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