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42 <br />17.Mergers and acquisitions <br />If you acquire an entity during the period of the policy whose annual revenue does not exceed <br />20% of the company's annual revenue, as stated in its most recent annual financial <br />statements, cover is automatically extended under this Policy to include the entity as a <br />subsidiary. <br />If you acquire an entity during the period of the policy whose annual revenue exceeds 20% of <br />the company's annual revenue, as stated in its most recent annual financial statements, cover <br />is automatically extended under this Policy to include the entity as a subsidiary for 45 days. <br />We will consider providing cover for the acquired entity after the period of 45 days if: <br />a.you give us full details of the entity within 45 days of its acquisition; and <br />b.you accept any amendment to the terms and conditions of this Policy and agree to <br />pay any additional premium required by us. <br />In the event you do not comply with a. and b. above, cover will automatically terminate for the <br />entity 45 days after the date of its acquisition. <br />Cover for any acquired entity is only provided under this Policy for any act, error or omission <br />committed or alleged to have been committed on or after the date of its acquisition. <br />No cover will be automatically provided under this Policy for any acquired entity: <br />a.whose business activities are materially different from your business activities; <br />b.that has been the subject of any lawsuit, disciplinary action or regulatory investigation <br />in the 3 year period prior to its acquisition; or <br />c.that has experienced a cyber event in the 3 years period prior to its acquisition, if you <br />have purchased INSURING CLAUSES 2 or 3 and the cyber event cost more than the <br />highest deductible of INSURING CLAUSES 2 or 3. <br />No cover will be provided under this Policy for premises or contents owned by any acquired <br />entity prior to the date of acquisition. <br />If during the period of the policy you consolidate, merge with or are acquired by another <br />entity then cover under this Policy will continue to apply but only in respect of any act, error or <br />omission committed or alleged to have been committed prior to the effective date of the <br />consolidation, merger or acquisition. <br />18.Our rights of recovery <br />If we make any payment under this Policy and you have any right of recovery against a third <br />party in respect of this payment, then we will maintain this right of recovery. You will do <br />whatever is reasonably necessary to secure this right and will not do anything after the event <br />which gave rise to the claim to prejudice this right. <br />CFC Underwriting Limited is Authorized and Regulated by the Financial Conduct Authority <br />Professions v4.0 <br />©1999-2023 CFC Underwriting Ltd, All Rights Reserved <br /> <br />