<p>It is hereby declared and agreed that in respect only of Goods sold but not delivered for which the Insured is (or are) responsible and with regard to which under conditions of the Sale, the Sale Contract is by reason of the fire cancelled either wholly or to the extend of the loss or damage, the liability of the Company shall be based on the Contract Price, and for the purpose of Average the value of all goods to which this clause would be in the event of loss or damage be applicable shall be ascertained on the same basis.</p>
