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C. Limits Of Insurance The most we will pay for loss or damage in any one occurrence is the applicable Limit Of Insurance shown in the Declarations. D. Deductible We will not pay for loss or damage in any one occurrence until the amount of the adjusted loss or damage before applying the applicable Limits of Insurance exceeds the Deductible shown in the Declarations. We will then pay the amount of the adjusted loss or damage in excess of the Deductible, up to the applicable Limit of Insurance. In the event that loss or damage occurs to both scheduled and blanket Covered Property as a result of one occurrence, the larger applicable deductible shown in the Declarations will apply. E. Additional Conditions The following conditions apply in addition to the Commercial Inland Marine Conditions and the Common Policy Conditions: 1. Coverage Territory a. We cover property wherever located within: (1) The United States of America (includ- ing its territories and possessions); (2) Puerto Rico; and (3) Canada. b. We also cover property being shipped by air within and between points in Paragraph a. 2. Coinsurance If a Coinsurance percentage is shown in the Declarations,the following condition applies: We will not pay the full amount of any loss if the value of Covered Property, except property in transit, at the time of loss times the Coinsurance percentage shown for it in the Declarations is greater than the Limit of Insurance for the property. Instead, we will determine the most we will pay using the following steps: a. Multiply the value of Covered Property, except property in transit, at the time of loss by the Coinsurance percentage; b. Divide the Limit of Insurance of the property by the figure determined in Step a.; c. Multiply the total amount of loss, before the application of any deductible, by the figure determined in Step b.; and d. Subtract the deductible from the figure determined in Step c. We will pay the amount determined in Step d. or the Limit of Insurance, whichever is less. For the remainder, you will either have to rely on other insurance or absorb the loss yourself. This provision does not apply to blanket machinery and equipment. F. Definitions "Pollutants" means any solid, liquid, gaseous or thermal irritant or contaminant, including smoke, vapor, soot, fumes, acids, alkalis, chemicals and waste. Waste includes materials to be recycled, reconditioned or reclaimed. Page 4 of 4 Includes copyrighted material of the Insurance Service Office, �oRaN } z RAManaganadDMsfan REVIEWED & APPROVED BY.- f R. VSA44a Risk Management Analyst