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 purpose of avoiding or minimizing such interruption. Any loss of this type shall be defined and assessed in accordance with these terms and conditions.
Sample 1
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).
Sample 1

Examples of Loss of Profits in a sentence

  • If the actual aggregate loss suffered at one compound / location is more than Rs.300 crores, the amounts payable under individual policies shall be reduced on pro rata basis.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.

  • If the actual aggregate loss suffered at one compound / location is more than Rs.500 crores, the amounts payable under individual policies shall be reduced on pro rata basis.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.100,000 and maximum Rs 10,00,00,000 for each and every claim in respect of both Material Damage and Loss of Profits combined.

  • 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.

  • 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.

  • Part “B” Consequential Loss of Profits The cover Where Part “B” is shown as insured on the Schedule, We will pay You, in accordance with the Part “B” Basis of Settlement, for consequential loss resulting from interruption of or interference with the Business that is caused by a Defined Event that occurs during the Period of Insurance.

  • In respect of several insurance policies within the same compound /location and/ or arising out of a single event with one or different insurers, the maximum aggregate loss payable per compound / location and/or arising out of a single event by anyone or all insurers shall be INR 20,000,000, 000 for Material Damage and Loss of Profits.

  • The limit of indemnity under this cover shall not exceed the Total Sum Insured for Material Damage and Loss of Profits given in the Policy Schedule or INR 20,000,000,000 whichever is lower.

  • If the actual aggregate loss suffered at one compound/ location and/or arising out of a single event is more than INR 20,000,000,000 for Material damage and Loss of Profits, the amounts payable towards individual policies shall be reduced in proportion to the sum insured of the policies.

Related to Loss of Profits

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • 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 shall have the meaning as set forth in Section 5.07.

  • 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 means, with respect to this Agreement or one or more Terminated Transactions, as the case may be, and a party, the Termination Currency Equivalent of an amount that party reasonably determines in good faith to be its total losses and costs (or gain, in which case expressed as a negative number) in connection with this Agreement or that Terminated Transaction or group of Terminated Transactions, as the case may be, including any loss of bargain, cost of funding or, at the election of such party but without duplication, loss or cost incurred as a result of its terminating, liquidating, obtaining or reestablishing any hedge or related trading position (or any gain resulting from any of them). Loss includes losses and costs (or gains) in respect of any payment or delivery required to have been made (assuming satisfaction of each applicable condition precedent) on or before the relevant Early Termination Date and not made, except, so as to avoid duplication, if Section 6(e)(i)(1) or (3) or 6(e)(ii)(2)(A) applies. Loss does not include a party’s legal fees and out-of-pocket expenses referred to under Section 11. A party will determine its Loss as of the relevant Early Termination Date, or, if that is not reasonably practicable, as of the earliest date thereafter as is reasonably practicable. A party may (but need not) determine its Loss by reference to quotations of relevant rates or prices from one or more leading dealers in the relevant markets.

  • 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 and “Losses” means, for each fiscal year or other period, an amount equal to the Company’s taxable income or loss for such year or period, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss), with the following adjustments:

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

  • Indirect Costs has the same meaning as in 44 Ill. Admin. Code Part 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 which, in Seller's reasonable estimation, exceeds $200,000.00 to repair or which, in Seller's reasonable estimation, will take longer than ninety (90) 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 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.