Loss of Gross Profit definition

Loss of Gross Profit means the shortfall in sales after the Waiting Period and resulting solely and directly from an Insured Event and is the calculation of:
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Loss of Gross Profit means the shortfall in sales resulting solely and directly from an Insured Eventand is the calculation of:
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Loss of Gross Profit meansThe Loss of Gross Profit due to reduction in turnover. For the purpose of this clause reduction in turnover shall mean the sum produced by applying the Rate of Gross Profit to the amount by which the turnover during the Indemnity Period shall fall short of the Standard Turnover in consequence of the Insured Event;Less any sum saved during the Indemnity Period in respect of the charges and expenses of the business as described in the policy schedule payable out of the Gross Profit which may cease or be reduced as a consequence of the Insured Event.
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Examples of Loss of Gross Profit in a sentence

  • Loss of Gross Profit as a result of an Employee winning in excess of £100,000 on the National Lottery.

  • This excludes Associate / Co-opt Members.Areas of ResponsibilityThe Finance & Audit Committee will consider matters relating to internal control and systems and will manage the Governors/ Director’s’ relationship with the external auditors.

  • Loss of Gross Profit (as defined in the policy) caused by an insured peril.

  • NOTE: Extensions A, B, C, G and H shall not apply in respect of Loss of Gross Profit following interruption of the Business as a result of Engineering Damage.

  • Compile, in consultation with the Iowa arts council and the state historical society of Iowa, a list of grant applications recommended for funding in accordance with the amount available for distribution as provided insection 303A.6, subsection 3.

  • You may select to insure any of the following covers below:• Loss of Gross Profit (Difference basis or addition basis cover)• Loss of Gross Revenue• Loss of Gross Rental• Standing Charges only• Wages (Dual Basis or 100% or Pro-rata)• Wages and Salaries on Payroll Basis• Increased Cost of Working onlyDuration of cover is for one year.

  • Loss of Gross Profit incurred by the Named Insured as a result of an Insured Event.

  • If, in consequence of Damage giving rise to a claim on this insurance, Turnover is maintained at a reduced Rate of Gross Profit, an equitable allowance will be made for the Loss of Gross Profit resulting from an increase in the ratio of stock usage or purchases (adjusted for stock variation) to Turnover.

  • In respect of loss of Gross Profit, such proportion of loss as Sum Insured (On Estimated Loss of Gross Profit) bears to the aggregate of Sums Insured (On Estimated Loss of Gross Profit) under this Insurance and all other Insurances.

  • Loss of Gross Profit Gross Profit:The amount by which the sum of the Turnover and closing Stock exceeds the sum of opening Stock and Uninsured Working Costs.


More Definitions of Loss of Gross Profit

Loss of Gross Profit means the shortfall in sales resulting solely and directly from an Insured Event and is the calculation of:
Sample 1
Loss of Gross Profit means the Insured('s) sales revenue projected prior to the happening of an Insured Event, but which has been lost during a period of 12 months beginning after the decrease in sales attributable to and caused directly by an Insured Event:
Sample 1

Related to Loss of Gross Profit

  • Gross Profit means the sum produced by adding to the “net profit” the amount of the Insured “standing charges”, or if there be no “net profit”, the amount of the Insured “standing charges” less such a proportion of any net trading loss as the amount of the Insured “standing charges” bears to all the “standing charges” of the business.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel:

  • Supplier Profit Margin means, in relation to a period, the Supplier Profit for the relevant period divided by the total Charges over the same period in respect of any Call Off Agreements and expressed as a percentage;

  • Supplier Profit means, in relation to a period, the difference between the total Charges (in nominal cash flow terms but excluding any Deductions (as defined in Call Off Schedule 1 (Definitions)) and total Costs (in nominal cash flow terms) in respect of any Call Off Agreements for the relevant period;

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • Net salvage value means the salvage value of property retired less the cost of removal.

  • Total Revenues means revenues from all taxes and fees, excluding revenue from funds managed by local government on behalf of a specific third party, and does not include the proceeds from borrowing or asset sales.

  • Gross weight means the aggregate weight of a vehicle or combination of vehicles and the load

  • Net Sales means [***].

  • Annual Net Sales means, with respect to any Calendar Year, the aggregate amount of the Net Sales for such Calendar Year.

  • Adjusted gross receipts means the gross receipts less winnings paid to wagerers.