Minggu, 09 Juni 2013

NEW BUSINESS CLAUSE

For the purpose of nay claim arising from damage occurring before the completion of the first year’s trading of the business at the premises, the terms “Gross Rental”, “Annual Gross Rental” and “ Standard Gross Rental” shall bear the following meanings and not as within stated.

Gross Rental :
The money paid of payable to the Insured by tenants in respect of rental of the premises.

Annual Gross Rental :
Proportional equivalent, for a period equal to the Indemnity Period, of the Gross Rental realized during the period between the Business and the date of the Incident.

Standard Gross Rental :
The proportional equivalent, for a period equal to the indemnity Period, of the Gross Rental realized during the period between the commencement of the Business and the date of the Incident.

To which such adjustment shall be made as may be necessary to provide for the trend of the Business and for the variations in the business either before or after the damage or which would have affected the  Business had the damage not occurred. So that the figures thus adjusted shall represent as nearly as may be reasonably practicable the results which but for the damage would have been obtained during the relative period after the damage.
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