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The insurance afforded herein for any A person or organization is an additional insured subsidiary not named in this Coverage Part under this provision only for that period of time as a named insured does not apply to injury required by the contract or agreement. or damage with respect to which such insured However, no such person or organization is an is also a named insured under another policy or would be a named insured under such insured under this provision if such person or policy but for its termination or the exhaustion organization is included as an insured by an of its limits of insurance. endorsement issued by us and made a part of 3. Newly Acquired Or Formed Organization this Coverage Part. a. Vendors Any organization you newly acquire or forth, other than a partnership, joint venture or limited Any person(s) or organization(s) (referred to liability company, and over which you maintain below as vendor), but only with respect to "bodily financial interest of more than 50 % of the voting injury" or "property damage" arising "your stock, will qualify as a Named Insured if there is out of products" which are distributed or no other similar insurance available to that sold in the regular course of the vendor's organization. However: business and only if this Coverage Part a. Coverage under this provision is afforded only provides coverage for "bodily injury" or "property damage" included within the until the 180th day after you acquire or form "products -completed operations hazard". the organization or the end of the policy period, whichever is earlier; (1) The insurance afforded the vendor is b. Coverage A does not apply to "bodily injury" subject to the following additional exclusions: or "property damage" that occurred before This insurance does not apply to: you acquired or formed the organization; and c. Coverage B does not apply to "personal and a "Bodily injury" or"property dama e" for O Y yg advertising injury" arising out of an offense which the vendor is obligated to pay committed before you acquired or formed the damages by reason of the assumption of liability in a contract or agreement. organization. 4. Nonowned Watercraft This exclusion does not apply to liability for damages that the vendor With respect to watercraft you do not own that is would have in the absence of the less than 51 feet long and is not bang used to contract or agreement; carry persons for a charge, any person is an (b)Any express warranty unauthorized by insured while operating such watercraft with your you; permission. Any other person or organization responsible for the conduct of such person is (c) Any physical or chemical change in the also an insured, but only with respect to liability product made intentionally by the arising out of the operation of the watercraft, and vendor; only if no other insurance of any kind is available (d) Repackaging, except when unpacked to that person or organization for this liability, solely for the purpose of inspection, However, no person or organization is an insured demonstration, testing, or the with respect to: substitution of parts under instructions EL "Bodily injury" to a co -"employee" of the from the manufacturer, and then repackaged in the original container; person operating the watercraft; or "Property (el Any failure to make such inspections, b. damage" to P Y 9 property owned by, adjustments, tests or servicing as the rented to, in the charge of or occupied by you vendor has agreed to make or normally or the employer of any person who is an undertakes to make in the usual insured under this provision. course of business, in connection with 5. Additional Insureds When Required By the distribution or sale of the products, Written Contract, Written Agreement Or Permit (f) Demonstration, installation, servicing The following person(s) or organization(s) are an or repair operations, except such operations performed at the vendor's additional insured when you have agreed, in a premises in connection with the sale of written contract, written agreement or because of the product; a permit issued by a state or political subdivision, that such person or organization be added as (g) Products which, after distribution or an additional insured on your policy, provided the sale by you, have been labeled or relabeled or used as a container, part injury or damage occurs s'-Asequent to the or ingredient of any other thing or execution of the contract or agreement. substance by or for the vendor; or Page 12of21 V�"v HO00010916 I01I4111