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CNA CNA PARAMOUNT First Party Glossary of Defined Terms Money Money means: A. currency, coins and bank notes in current use and having a face value; and B. travelers checks, register checks and money orders held for sale to the public. Monthly Leasehold Interest Monthly leasehold interest means the original costs the Named Insured paid for bonus payments and prepaid rent, divided by the number of months left in the Named Insured's lease at the time of the expenditure. Mudslide or Mudflow Mudslide or mudflow means a river of liquid and flowing mud on the surface of normally dry land areas as when earth is carried by a current of water and deposited along the path of the current. Named Insured Named Insured means the persons or entities named as such on the Business Crime Coverage Part, Business Property Coverage Part or Policy Declarations. For insured property that is the subject of a Contract of Sale, Named Insured includes the Contract of Sale Loss Payee. Named Storm Named storm means a tropical storm system that is declared to be named by the National Hurricane Center, World Meteorological Organization or any similar organization, agency or body responsible for naming such weather systems, including tropical storm spawned tornados or microbursts. The named tropical storm begins when such organization, agency or body officially declares the storm system as a named tropical storm and ends when that organization, agency or body officially declares the named tropical storm: A. permanently downgraded to a tropical depression; B. reclassified as a Post Tropical Cyclone and the maximum sustained surface wind speed (using U.S. 1-minute average) is 33 kt (38 mph or 62 km/hr) or less; or C. reclassified as an Extra Tropical Cyclone and the maximum sustained surface wind speed (using U.S. 1-minute average) is 33 kt (38 mph or 62 km/hr) or less. Net Income Net Income means net profit or loss that would likely have been earned or incurred before taxes. Net income does not include any profit that would likely have been earned as a result of an increase in the business transactions due to favorable business conditions caused by the impact of the covered peril in the vicinity of such covered peril. Net Leasehold Interest Net leasehold interest means the net present value of the gross leasehold interest for each remaining month of the term of the lease, discounted at the Prime Rate on the date the direct physical loss or damage occurs, rounded to the nearest dollar. CNA62641XX 10-15 Copyright CNA All Rights Reserved. a r N Risk MmRgmertt DiAsian 3 REVIEWED & APPROVED BY.- E� Risk Management Analyst