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Loss of Profits definition

Loss of Profits means a financial loss caused to the business activity through the interruption of operations or through additional costs incurred for the sole
Loss of Profits means a Financial Loss caused to the business activity through the interruption of operations or through additional costs incurred for the sole purpose of avoiding or minimizing such interruption. Any loss of this type shall be defined and assessed in accordance with these terms and conditions.
Loss of Profits means lost revenue to the Business from a customer contract (net of expenses, including Taxes, that would have been incurred to realize such lost revenue) resulting from the breach of a representation or warranty set forth on Section 4.14 (Material Contracts) or Section 4.23 (Customers and Suppliers) or the giving or the failure to give a notification relating thereto required by Section 6.4(a)(i).

Examples of Loss of Profits in a sentence

  • The coverage under this Endorsement is subject to an Excess of Re. 0.5% of the total sum insured subject to a minimum of Rs.25,000 and a maximum of Rs 10,00,00,000 for each and every claim in respect of both Material Damage and Loss of Profits combined.

  • The limit of coverage under this Endorsement shall not exceed the amount (being the overall liability limit for Material Damage and Loss of Profits insurances combined) stated in the Schedule in respect of this Endorsement.

  • Loss of Profits as a result of spoilage may be covered as an additional item by extending the Consequential Loss (fire) Insurance Policy subject to the following conditions: - a) Scope of Cover The cover shall extend to loss of Profits arising out of the spoilage, i.e. interruption of business solely as a result of (i) loss of stock-in-process; and (ii) damage to machinery containers and equipment.

  • Loss of Profits as a result of spoilage may be covered as an additional item by extending the Consequential Loss (fire) Insurance Policy subject to the following conditions: - a) Scope of Cover The cover shall extend to loss of Profits arising out of the spoilage, i.e. interruption of business solely as a result of (i) loss of stock-in- process; and (ii) damage to machinery containers and equipment.

  • Refers to all business underwritten in the Cargo Takaful or Insurance Department including Marine Cargo, Air Cargo, Land Transit, Marine Cargo Loss of Profits, Cargo Throughput Policies, Port Operator’s Liability, Freight Forwarder’s Liability etc.

  • Refers to all business underwritten in the Engineering Takaful or Insurance Department including Contractor’s All Risks, Erection All Risks, Advance Loss of Profits, Machinery Breakdown, Boiler Explosion, Related Loss of Profits, Machinery Breakdown, Boiler Explosion, Related Loss of Profits, Computer All Risks and Storage Vessels but excluding contract bonds.

  • For construction phase risks, Advanced Loss of Profits (ALOP) is available to take care of financial consequences of delay in commencement of commercial operation caused by physical loss or damage to the contract works, including extra expenses to avoid or minimize a delay.

  • Refers to all business underwritten in the Marine Hull Department including Marine Hull Loss of Profits, Loss of Hire and Builder’s risk.

  • Refers to all business underwritten in the Fire Takaful or Insurance Department including Industrial All Risks, Fire and Allied Perils Material Damage and Loss of Profits, Houseowners/Householders.

  • If an insured event has occurred giving rise to payment of indemnity under Advance Loss of Profits Insurance cover, such return shall be made in respect only of so much of said difference as is not due to such insured event.

Related to Loss of Profits

  • Consequential Loss means indirect or consequential loss or damage such as, but not limited to, loss of contract, bargain, expectation, opportunity, profit, production, revenue, anticipated cost reduction or interest payable howsoever caused, arising out of or in connection with this Contract.

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Punitive Damages are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Indirect Losses means loss of profits, loss of production, loss of business, loss of business opportunity, or any claim for consequential loss or for indirect loss of any nature;

  • Special Damages has the meaning specified in Section 11.21.

  • Loss of Use means the total and irrecoverable loss of function of an arm, hand, foot, leg or thumb and index finger of the same hand provided such loss of function is continuous for 12 consecutive months and such loss of function is thereafter determined on evidence satisfactory to Chubb Life to be permanent.

  • Loss of Activities of Daily Living means that, due to an Injury or Sickness, the Insured Employee has lost the ability to safely and completely perform two or more of the following six Activities of Daily Living without another person's active, hands-on help with all or most of the activity.

  • Loss or “Losses” means any and all losses, costs (including court costs), claims, damages (including fines, penalties, and criminal or civil judgments and settlements), injuries, liabilities and expenses (including attorneys’ fees).

  • Direct Damage has the meaning given to it in clause 26.2;

  • Loss or Losses means all losses, damages, liabilities, deficiencies, claims, actions, judgments, settlements, interest, awards, penalties, fines, costs or expenses of whatever kind, including reasonable attorneys' fees and the costs of enforcing any right to indemnification hereunder and the cost of pursuing any insurance providers.

  • Profits or “Losses” means, for each Fiscal Year or other taxable period, an amount equal to the Company’s taxable income or loss for such year or period, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments (without duplication):

  • Losses shall have the meaning set forth in Section 5(a).

  • Indirect Costs has the same meaning as in 44 Ill. Admin. Code 7000.

  • Direct Losses means all damages, losses, liabilities, penalties, fines, assessments, claims, actions, costs, expenses (including the cost of legal or professional services, legal costs being on a substantial indemnity basis), proceedings, demands and charges whether arising under statute, contract or at common law, except Indirect Losses.

  • Damages means any loss, claim, damage, liability, costs and expenses (including, without limitation, reasonable attorney's fees and disbursements and costs and expenses of expert witnesses and investigation).

  • Material Damage and “Materially damaged” means damage (w) resulting in the Property not complying with all legal requirements applicable to the Property, (x) reasonably exceeding $300,000 or (y) that entitles any tenant of the Property to terminate its Lease, or (z) which, in Buyer’s or Seller’s reasonable estimation, will take longer than 120 days to repair.

  • Loss of an Eye, means total and irrevocable loss of sight in that eye.

  • Common profits means the balance of all income, rents, profits and revenues from the common areas and facilities remaining after the deduction of the common expenses;

  • Sustained means - maintained continuously over a period of at least two school years. They will be able to demonstrate that their teaching expertise has grown over the relevant period and is consistently at least good.

  • business interest ’ means —

  • Compensatory Damages are those amounts awarded to compensate for the actual damages sustained, and are not awarded as a penalty, nor fixed in amount by statute.

  • Direct Loss means charges actually paid pursuant to this Agreement in respect of the period of the Delay. For the purposes of clause 13.4, the User's losses arising out of a Delay will be taken to include the amount of the relevant Direct Losses.

  • Loss of Sight means the entire, permanent and irrecoverable loss of sight.

  • Substantial damage means damage of any origin sustained by a structure whereby the cost of restoring the structure to its before damaged condition would equal or exceed 50 percent of the market value of the structure before the damage occurred.

  • Interruption means a reduction in non-firm transmission service due to economic reasons pursuant to Tariff, Part II, section 14.7.