(2) New for Old Replacement Vehicle
(a) In the event the Tesla Motor Car has sustained total loss in an Accident or
Theft covered under the Mileage-based Motor Policy, the Company agrees
to replace the Tesla Motor Car with a New replacement vehicle of the same
make and model, provided that:
i. the Insured is the first registered owner;
ii. the trim should be similar to the Tesla Motor Car, but not more expensive
or luxurious;
iii. the total loss occurs within the first twelve months of the first registration
of the Tesla Motor Car with the Transport Department; and
iv. the first registration of the Tesla Motor Car with the Transport
Department was made within twelve months from the date of
manufacture thereof.