Output Option Clause

OUTPUT OPTION CLAUSE #

It is hereby declared and agreed that at the option of the Insured the term “output” may be substituted for the term “turnover” and for the purposes of this Policy “output” shall mean “the sale value of goods manufactured by the Insured in the course of the business at the premises.”

Provided that

1. only one such meaning shall be operative in connection with my occurrence involving damage (as within defined)
2. if the meaning set out above be adopted Memo 1 shall stand to read as follows :

” If during the indemnity period goods be manufactured elsewhere than at the premises for the benefit of the business either by the Insured or by others on their behalf, the sale value of goods so manufactured shall be brought into account in arriving at the output during the indemnity period”.