Property Investors Protection Plan policy document (PDF)

Property Investors Protection Plan Policy SECTION 2Rent Free PeriodIf at the date of the DAMAGE any Premisesare subject to a rent free period under theterms of the lease then the Indemnity Periodstated in the Schedule shall be adjusted byadding the unexpired portion of the rent freeperiod to the number of years shown in theSchedule provided that the Company’sliability does not exceed the Sum Insured orany Limit of Liability stated in the Policywhichever is the lowerSale of Property InsuredIf at the time of DAMAGE to the Premisesthe Insured shall have contracted to sell theinterest of the Insured in such building andthe purchase shall not have been but shallbe thereafter completed the purchaser oncompletion of the purchase if and so far asthe Rent Receivable are not otherwiseinsured by or on behalf of the purchaseragainst such DAMAGE shall be entitled tothe benefits of this Section of the Policy sofar as it relates to such DAMAGE withoutprejudice to the rights and liabilities of theInsured or the Company under this Sectionup to the date of completionValue Added TaxTo the extent that the Insured areaccountable to the tax authorities for ValueAdded Tax all terms in this Section shall beexclusive of such taxReinstatement of Sum InsuredIn the event of loss the Sum Insured by thisSection will be automatically reinstated fromthe date of the loss unless written notice isgiven to the contrary either by the Companyor by the Insured and the Insured undertaketo pay such necessary premiums as may berequired for such reinstatement from that date23