In this Schedule the following definitions apply:

Excluded Turnover is:

(a) discounts customarily allowed by the Tenant to its employees in respect of goods or services supplied by it to them;

(b) amounts reasonably and properly allowed on goods traded in by customers in the ordinary course of business;

(c) cash sums refunded, or allowances or credit given, to customers for defective or unsatisfactory goods or services (but not exceeding the sale price or charge attributed to them when they were originally included in Gross Turnover);

(d) the sale price of goods returned by customers for exchange (but only if the sale price is for):

• (i) the returned goods was originally included in Gross Turnover; and

• (ii) the goods given in exchange is included in Gross Turnover;

(e) the value of goods returned to shippers, wholesalers or manufacturers;

(f) interest charges;

(g) credit account service charges or other similar charges;

(h) VAT (or any comparable tax) imposed directly on the supply of goods or services by the Tenant and actually paid or accounted for by the Tenant (with the relevant taxing authority);

Gross Turnover