Extra Expense definition

Extra Expense means expense or cost incurred (1) to continue the conduct of the Assured’s business,

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Extra Expense means the net additional cost you incur to operate your business during the period of restoration over and above the cost that you normally would have incurred to operate the business during the same period had no breakdown occurred.

Extra Expense means the excess (if any) of the total cost during the Period of Restoration for the purpose of continuing the Insured’s business over and above the total cost that would normally have been incurred to conduct the business during the same period had no loss occurred; the cost in each case to include expense of using other property or facilities of other concerns or other similar necessary emergency expenses. In no event, however, shall the Insurer be liable under this Policy for loss of income nor for “Extra Expense” in excess of that necessary to continue as nearly as practicable the normal conduct of the Insured’s business, nor the cost of repairing or replacing any of the described property that has been damaged or destroyed by the perils insured against, except cost in excess of the normal cost of such repairs or replacements necessarily incurred for the purpose of reducing the total amount of “Extra Expense”.

Examples of Extra Expense in a sentence

• This Agreement covers the Actual Loss Sustained and Extra Expense incurred by the Named Member during the Period of Liability, when access to Covered Property is specifically prohibited by order of civil authority, provided such order is a direct result of actual loss or damage from a peril covered under this Agreement to property of the type covered against under this Agreement which is located within five (5) statute miles of the Covered Property to which access is prohibited.

• Extra Expenses will be paid under this Policy only to the extent that such expenses avoid or minimise a reduction of Business Income that otherwise would have been payable under Insuring Agreement 1.2 or Automatic Extension 2.5. The amount of any Extra Expense will be reduced to the extent the Insured can return its Business Operations to normal and discontinue incurring such Extra Expense.

• This Agreement covers the Actual Loss Sustained and Extra Expense incurred by the Named Member due to the necessary interruption of the Named Member's business due to prevention of ingress to or egress from a Covered Property, provided that such prevention is a direct result of physical damage of the type covered by this Agreement, to the kind of property not excluded by this Agreement, and which is located within five (5) statute miles of the Covered Property incurring loss.

• The amount of Extra Expense will be determined based upon all expenses that exceed the normal operating expenses that the Insured would have incurred in its Business Operations during the Period of Restoration had a Network Attack (under Insuring Agreement 1.2) or Network Failure (under Automatic Extension 2.5, if applicable) not occurred.

More Definitions of Extra Expense

Extra Expense means expenses “to avoid or minimize the suspension of business and to continue ‘operations,’” and also includes expenses “to repair or replace property.”

Extra Expense means expense incurred:

Extra Expense means necessary expenses you incur during the “period of restoration” that you would not have incurred if there had been no direct physical loss or damage to property.

Extra Expense means the necessary expenses incurred by you during the "interruption of business" that would not have been incurred if there had been no direct "loss" to covered property caused by a peril insured against.

Extra Expense means expenses necessarily incurred by a policyholder “during the period of restoration to continue normal services and operations.”

Extra Expense means necessary expenses you incur due to partial or total "interruption of business" resulting di- rectly from "loss" or damage to property on the premises described in the "Declarations" from a peril insured against. "Loss" or damage also includes property in the open, or in a vehicle, on the premises described in the "Declarations" or within 1,500 feet thereof.

Extra Expense means the excess of the total cost chargeable to the operation of the Insured's business over and above the total cost that would normally have been incurred to conduct the business had no loss or damage occurred.