TURNOVER/OUTPUT CLAUSE

It is agreed that in the event of a claim arising under this section, adjustment may be based on “turnover or output” or whatever other index of business activity affords the insured the most equitable result and except in the definition of turnover, the world “ wherever used in this policy shall read as “turnover” or output. Output shall mean sale value of goods manufactured by, or sold by, the Insured in the course of the business at the premises, or internal transfer value as between departments of finished or partially processed stock manufactured by Insured at the premises.

Provided that :

1. Only one such meaning shall be operative in connection with any one occurrence involving damage as within defined.
2. If the meaning set out in this clause be used, Memo shall be altered to read as follows.

Memo :      If during the indemnity period goods shall be manufactured and/or processed elsewhere then at the premises affected by the damage for the benefit or the business either by the Insured or by others on the Insured’s behalf, the sale value of the goods so manufactured shall be brought into account in arriving at the output during the indemnity period.