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3. Loss Determination c. Resumption Of Operations a. The amount of Business Income loss will be We will reduce the amount of your: determined based on: (1) Business Income loss, other than Extra (1) The Net Income of the business before Expense, to the extent you can resume the direct physical loss or damage your "operations", in whole or in part, by occurred; using damaged or undamaged property (including merchandise or stock) at the (2) The likely Net Income of the business if described premises or elsewhere. no physical loss or damage had occurred, but not including any Net (2) Extra Expense loss to the extent you Income that would likely have been can return "operations" to normal and earned as a result of an increase in the discontinue such Extra Expense. volume of business due to favorable d. If you do not resume "operations", or do not business conditions caused by the resume "operations" as quickly as possible, impact of the Covered Cause of Loss on we will pay based on the length of time it customers or on other businesses; would have taken to resume "operations" as (3) The operating expenses, including quickly as possible. payroll expenses, necessary to resume 4. Loss Payment "operations" with the same quality of We will pay for covered loss within 30 days service that existed just before the direct after we receive the sworn proof of loss, if you physical loss or damage; and have complied with all of the terms of this (4) Other relevant sources of information, Coverage Part, and: including: a. We have reached agreement with you on (a) Your financial records and the amount of loss; or accounting procedures; b. An appraisal award has been made. (b) Bills, invoices and other vouchers; D. Additional Condition and COINSURANCE (c) Deeds, liens or contracts. If a Coinsurance percentage is shown in the b. The amount of Extra Expense will be Declarations, the following condition applies in determined based on: addition to the Common Policy Conditions and the (1) All expenses that exceed the normal Commercial Property Conditions. operating expenses that would have We will not pay the full amount of any Business been incurred by "operations" during the Income loss if the Limit of Insurance for Business "period of restoration" if no direct Income is less than: physical loss or damage had occurred. We will deduct from the total of such 1. The Coinsurance percentage shown for expenses: Business Income in the Declarations; times (a) The salvage value that remains of 2. The sum of: any property bought for temporary a. The Net Income (Net Profit or Loss before use during the "period of restoration", income taxes), and once "operations" are resumed; and b. Operating expenses, including payroll (b) Any Extra Expense that is paid for by expenses, other insurance, except for insurance that would have been earned or incurred (had that is written subject to the same no loss occurred) by your "operations" at the plan, terms, conditions and described premises for the 12 months following provisions as this insurance; and the inception, or last previous anniversary date, (2) Necessary expenses that reduce the of this policy (whichever is later). Business Income loss that otherwise would have been incurred. Page 6 of 9 © Insurance Services Office, Inc.,2011 CP 00 30 10 12