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CNA CNA PARAMOUNT <br />First Party Glossary of Defined Terms <br />Replacement cost valuation for insured property includes the cost the Named Insured paid for non-refundable or <br />non -transferable extended warranties, maintenance contracts or service contracts which are still in force at the time of <br />loss or damage and are no longer valid as a result of loss of or damage to such insured property. <br />Reported unspecified Location <br />Reported unspecified location means fixed premises that has been identified on a schedule submitted by the <br />Named Insured and on file with the Insurer, including: <br />A. the address of the premises and includes that area extending 1000 feet beyond that address; <br />B. an identification of the insured property, business income or extra expense; and <br />C. the value of such identified insured property, business income or extra expense. <br />If the Named Insured is a tenant, for purposes of time element coverage, reported unspecified locations includes <br />that portion of the premises not rented, or intended to be rented, to others. <br />Reported unspecified location does not include: <br />1. a location; <br />2. an unspecified location; <br />3. a fair, trade show or exhibition; <br />4. an installation location; or <br />5. a dependent property with respect to loss or damage covered by any time element coverage. <br />Research Animals <br />Research animals means laboratory animals used in the Named Insured's research and development project or <br />bred for sale to other medical technology or life science entities. <br />Research and Development Business Income <br />Research and development business income means: <br />A. net income that would have been earned or incurred had no loss or damage resulting in an interruption in the <br />Named Insured's research and development project occurred, including net income resulting from: <br />0 <br />1. lost or delayed pre -sale orders from new or current customers for a new product or an improved current <br />product, whose entry into the marketplace is delayed because these products were the subject of lost or <br />damaged research and development project property; or <br />N <br />O <br />2. grants, endowments and any other contract revenues, licensing fees, consulting fees, funding grants and <br />progress payments, including milestone contracts; plus <br />B. research and development project continuing expenses. <br />However, research and development business income does not include any amount that is otherwise payable <br />under this Business Property Coverage Part or that does not necessarily continue during the interruption in the <br />research and development project. <br />Research and Development Project Continuing Expenses <br />Research and development project continuing expenses means the Named Insured's normal continuing <br />operating expenses that are directly attributable to research and development projects, including any reasonable and <br />necessary payroll expenses, rental payments as a tenant and factory overhead. <br />CNA62641XX 10-15 <br />Copyright CNA All Rights Reserved. <br />HORaN RiskMmRgzmerdDivisian <br />REVIEWED & APPROVED BY.- <br />o z <br />Risk Management Analyst <br />