Measurement of Loss. The recoverable Extra Expense loss will be the reasonable and necessary extra costs incurred by the Insured of the following during the Period of Liability:
a) Extra expenses to temporarily continue as nearly normal as practicable the conduct of the Insured’s business; and
b) Extra costs of temporarily using property or facilities of the Insured or others, less any value remaining at the end of the Period of Liability for property obtained in connection with the above.
Measurement of Loss a) The recoverable Commissions, Profits And Royalties loss is the actual loss sustained by the Insured of the following during the Indemnity Period:
(i) Commissions, Profits and Royalties;
(ii) Less non-continuing expenses and charges during the Period of Liability.
b) The Commissions, Profits And Royalties payable hereunder will be the actual loss sustained of income to the Insured during the Indemnity Period under any royalty, licensing fee or commission agreement between the Insured and another party which is not realizable due to physical loss or damage insured by this Contract to property of the other party of the type insured by this Contract located within the Contract’s Territory.
c) The Insured will influence, to the extent possible, said party(ies) with whom the agreements described above have been made to use any other machinery, supplies or locations in order to resume business so as to reduce the amount of loss hereunder, and the Insured will cooperate with that party in every way to effect this. This Contract does not cover any cost to effect the above unless authorized in advance by the Insurers.
d) In determining the indemnity payable hereunder, the Insurers will consider the amount of income derived from such agreements before and the probable amount of income after the date of loss or damage.
e) There is recovery hereunder but only if such loss or damage interrupts the delivery of goods in whole or in part to the Insured or for their account.
Measurement of Loss a) Extra expenses to temporarily continue as nearly normal as practicable the conduct of Your business; and
b) Extra costs of temporarily using property or facilities of your agency or others, less any value remaining at the end of the term of this Agreement for property obtained in connection with the above.
Measurement of Loss. In the event of any loss or damage, the basis of loss settlement under this section shall be as follows:
Measurement of Loss. The recoverable LOSS OF RENTS loss is the Actual Loss Sustained by the Named Member of the following during the Period of Liability:
a. The fair rental value of any portion of the property occupied by the Named Member
b. The income reasonably expected from rentals of unoccupied or unrented portions of such property; and
c. The rental income from the rented portions of such property according to bona fide leases, contracts or agreements in force at the time of loss; all not to include noncontinuing charges and expenses.
Measurement of Loss. In the event of such direct physical loss or physical damage, Insurers shall be liable for the actual loss sustained by the Insured resulting directly from such necessary interruption of business, but not exceeding the Sum Insured stated in the Risk Details due to:
a) reduction in Turnover; and
b) increase in cost of working; and the amount payable as indemnity thereunder shall be:
i) in respect of reduction in Turnover, the sum produced by applying the Rate of Gross Profit to the amount by which the Turnover during the Indemnity Period shall in consequence of an Insured Event fall short of the Standard Turnover, ii) in respect of increase in cost of working, the additional expenditure necessarily and reasonably incurred for the sole purpose of avoiding or diminishing the reduction in Turnover which but for that expenditure would have taken place during the Indemnity Period in consequence of an Insured Event but not exceeding the sum produced by applying the Rate of Gross Profit to the amount of the reduction thereby avoided, less any sum saved during the Indemnity Period in respect of such of the charges and expenses of the business payable out of Gross Profit as may cease or be reduced in consequence of an Insured Event. Provided that if the Sum Insured by this Extension be less than the sum produced by applying the Rate of Gross Profit to the Annual Turnover (or to a proportionately increased multiple thereof where the Indemnity Period exceeds twelve months) the amount payable shall be proportionately reduced. Due consideration shall be given to the continuation of Normal charges and expenses, including payroll expenses, to the extent necessary to resume operations of the Insured with the same operational capability as existed immediately before the loss.
Measurement of Loss. In the event of such insured direct physical loss or damage to a Insured Location, Insurers in the event of such direct physical loss or damage, shall be liable for the actual loss sustained by the Insured resulting directly from such necessary interruption of business, but not exceeding the reduction in Gross Earnings, as defined hereafter, less charges and expenses which are not necessary during the interruption of business, for a period not to exceed the Indemnity Period. Due consideration shall be given to the continuation of Normal charges and expenses, including payroll expenses, to the extent necessary to resume operations of the Insured with the same operational capability as existed immediately before the loss.
Measurement of Loss. In the event of such direct physical loss or physical damage, Insurers shall be liable for the actual loss sustained by the Insured resulting directly from such necessary interruption of business, but not exceeding the reduction in Gross Revenue, as defined hereafter, less charges and expenses which are not necessary during the interruption of business, for a period not to exceed Indemnity Period. Due consideration shall be given to the continuation of Normal charges and expenses, including payroll expenses, to the extent necessary to resume operations of the Insured with the same operational capability as existed immediately before the loss.
Measurement of Loss. In the event of such direct physical loss or damage, Insurers shall be liable for the actual loss sustained by the Insured resulting directly from such necessary untenantability, but not exceeding the reduction in Rental Income, as defined hereafter, less charges and expenses which are not necessary during the period of untenantability, for a period not to exceed the Indemnity Period.
Measurement of Loss. The recoverable Leasehold Interest incurred by the Insured of the following:
a) If the lease agreement requires continuation of rent; and if the property is wholly untenantable or unusable, the actual rent payable for the unexpired term of the lease; or if the property is partially untenantable or unusable, the proportion of the rent payable for the unexpired term of the lease.
b) If the lease is cancelled by the lessor pursuant to the lease agreement or by the operation of law; the Lease Interest for the first three months following the loss; and the Net Lease Interest for the remaining unexpired term of the lease.
