EXTRA EXPENSE. Reasonable and necessary expenses in excess of the Insured’s normal operating expenses that the Insured incurs to reduce or avoid loss of business income.
EXTRA EXPENSE. The term "extra expense", whenever used in this “Memorandum”, is defined as the excess (if any) of the total cost incurred during the period of restoration chargeable to the operation of the “Member’s” business over and above the total cost that would normally have been incurred to conduct the business during the same period had no damage or destruction occurred. Any salvage value of property obtained for temporary use during the period of restoration, which remains after the resumption of normal operations, shall be taken into consideration in the adjustment of any loss hereunder.
EXTRA EXPENSE. This “Memorandum” is extended to cover the necessary and reasonable extra expenses occurring during the term of the “Memorandum” at any location as hereunder defined, incurred by “You” in order to continue as nearly as practicable the normal operation of “Your” business following damage to or destruction of “Covered Property” by a “Covered Peril” which is on premises owned, leased or occupied by “You.” In the event of such damage or destruction, “We” shall be liable for such necessary extra expense incurred for only such length of time as would be required with the exercise of due diligence and dispatch to rebuild, repair or replace such part of the property as has been damaged or destroyed commencing with the date of damage or destruction and not limited by the date of expiration of this “Memorandum” (hereinafter referred to as period of restoration). B-1. EXTENSIONS OF COVERAGE
1. INGRESS / EGRESS “Memorandum” is prevented. Coverage under this extension is subject to a 24-hour waiting period.
EXTRA EXPENSE. The Corporation shall maintain extra expense insurance covering additional expenses for continuing operations or to resume normal business incurred by the Corporation which result directly from damage to or destruction of any real or personal property constituting part of the Facilities from the risks covered by the insurance required above under subsection 1, Property Insurance, with limits equal to at least Maximum Aggregate Annual Debt Service.
EXTRA EXPENSE. This insurance is extended to cover the necessary “extra expense” incurred by the Insured in order to resume as nearly as practicable, their “normal” business operations that have been interrupted as a direct result of “breakdown”. Coverage will commence with the occurrence of the “breakdown” and is not limited by the expiry date of this policy. The Insured shall exercise due diligence and dispatch to rebuild, repair or replace the lost or damaged property. This extension does not cover:
(a) loss due to fines or damages for breach of contract for late or non-completion of orders or for any penalties of whatever nature;
(b) any increase of loss caused by delays or loss of time due to the presence of strikers or other persons or to labour disturbances on or about the “premises” interfering with the rebuilding, repairing or replacing the property damaged or destroyed or the resumption or continuation of the Insured’s business; or
(c) loss due to the suspension, lapse or cancellation of any lease or license, contract or order, which may affect the Insured's earnings after the period following any loss during which indemnity is payable.
EXTRA EXPENSE. This insurance is extended to cover the necessary “extra expense” incurred by the Insured in order to resume as nearly as pra cticable, their “normal” business operations that have been interrupted as a direct result of “breakdown”. Coverage will commence with the occurrence of the “breakdown” and is not limited by the expiry date of this policy. The Insured shall exercise due diligence and dispatch to rebuild, repair or replace the lost or damaged property. This extension does not cover:
(a) loss due to fines or damages for breach of contract for late or non-completion of orders or for any penalties of whatever nature;
(b) any increase of loss caused by delays or loss of time due to the presence of strikers or other persons or to labour disturbances on or about the “premises” interfering with the rebuilding, repairing or replacing the property damaged or destroyed or the resumption or continuation of the Insured’s business; or
(c) loss due to the suspension, lapse or cancellation of any lease or license, contract or order, which may affect the Insured's earnings after the period following any loss during which indemnity is payable. This extension also covers the “extra expense” sustained by the Insured during the period of time, not exceeding 30 consecutive days, while access to the “premises” is prohibited by order of civil authority, but only when such order is given as a direct result of damage to neighbouring premises by a “breakdown”.
EXTRA EXPENSE. Option 2., is limited to a maximum recovery as shown on the Declaration Pages in any one occurrence. Unless a limit is shown on the Declaration Pages no coverage is provided.
EXTRA EXPENSE. The insurance under this policy is extended to include the necessary extra expense incurred by the Insured in order to continue as nearly as practicable the normal conduct of the Insured's business following direct physical loss or direct physical damage from an insured peril to the Building(s) or Contents, commencing with the date of the loss and not limited by the date of expiration of this policy, as shall be required with the exercise of due diligence and dispatch to repair, rebuild or replace such part of the described Building(s) or Contents as may be destroyed or damaged. This extension is limited to a maximum recovery as shown on the Declaration Pages in any one occurrence.
EXTRA EXPENSE. We cover the necessary extra expenses that you incur to resume or continue your operations as nearly as practicable. We cover only the extra expenses that are necessary during the restoration period. We cover extra expenses you incur to repair, replace, or restore any property, but only to the extent that they reduce the loss otherwise payable under this Coverage Part. We also cover extra expenses incurred by you to research, replace, or restore information on damaged valuable papers and records, but only to the extent that they reduce the loss otherwise payable under this Coverage Part.
EXTRA EXPENSE. We pay up to $1,000, or the additional amount shown on the Declarations, for additional expense which you must incur to continue your business as usual had no loss or damage from a covered cause of loss occurred. You must do everything reasonable to reduce the amount of loss. You must do everything reasonable to resume operations with the same quality of service which existed immediately before the loss; and you must resume partial or complete operation of the property making use of merchandise, stock or other property at your other locations. The deductible does not apply to Extra Expense.
