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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Newly acquired or formed organizations. Any <br />organization, other than a partnership, joint <br />venture, or limited liability company, that <br />you acquire or form while this agreement is <br />in effect is a protected person if you own <br />more than 50% of it. <br /> <br />However, no newly acquired or formed <br />organization is a protected person for: <br /> <br />· more than the remainder of the time this <br />agreement is in effect, beginning with the <br />date that you acquired or formed it; <br /> <br />. bodily injury or property damage that <br />happened before you ecquired or formed <br />it; <br /> <br />· personal injury or advertising injury that <br />results from an offense committed before <br />you acquired or formed it; or <br /> <br />· injury or damage that's covered by other <br />similar general liability insurance. <br /> <br />Separation of protected persons. We'll apply <br />this agreement separately to each protected <br /> <br />person. <br /> <br />However, the limits of coverage shown in <br />the Coverage Summary are shared by all <br />protected persons. We explain how in the <br />Limits Of Coverage section. <br /> <br />Also, any right or duty specifically assigned <br />to the first nemed insured remains <br />unchanged. We explain those rights and <br />duties in the General Rules, which is a part <br />of your policy. <br /> <br />Limits Of Coverage <br /> <br />The limits shown in the Coverage Summary <br />and the information contained in this section <br />fix the most we'll pay as damages and <br />medical expenses, regardless of the number <br />of: <br /> <br />. protected persons; <br /> <br />· claims made or suits brought; or <br /> <br />· persons or organizations making claims or <br />bringing suits, <br /> <br />Generel lotal limit This is the most we'll <br />pay for lhe combined total of: <br /> <br />. all covered bodily injury, property damage, <br />and premises damage that happens in a <br />policy year; AS TO ,-,),~M <br />APPROVE0 <br />1(7 <br /> <br /> <br />. <br /> <br />TheSfFllul <br /> <br />· all covered personal injury that's caused <br />by all personal injury offenses committed <br />In a policy year; <br /> <br />· all covered advertising injury that's caused <br />by all advertising injury offenses <br />committed in a policy year; and <br /> <br />· all covered medical expenses that result <br />from all events which happen in a policy <br />year. <br /> <br />However, this limit won't apply to bodily <br />Injury or property damage that results from <br />your products Or completed worle Instead, <br />the products and completed work total limit <br />applies to such bodily injury or property <br />damage covered by this agreement. <br /> <br />POlicy year means the policy periOd shown <br />in the Introduction, or the period of time <br />that this agreement is in effect, whichever <br />is less. But when that period is longer than <br />one year, it means each consecutive annual <br />period. and the remaining period if any. that <br />this agreement is in effect, sterting with the <br />beginning date of this agreement. <br /> <br />We explain the products and completed work <br />total limit, and what we mean by your <br />products and your completed work, in the <br />Products and completed work total limit <br />section. <br /> <br />Products and completed work lolal limit. This <br />is the most we'll pay for all covered bodily <br />Injury and property damage that: <br /> <br />. results from your products and completed <br />work; and <br /> <br />· happens in a policy year. <br /> <br />YOI.Ir products means any of the gOOds or <br />products that ere or were manufectured, <br />sold, handled, distributed, or disposed of by: <br /> <br />. you; <br /> <br />· others using your name; or <br /> <br />· any person or organization whose business <br />or assets you've acquired. <br /> <br />Your products includes: <br /> <br />· all containers, equipment. materials, or <br />parts provided with or for your products; <br /> <br />. any warranty provided with or for your <br />products; <br /> <br />. any statement m~de. Or which should have <br />been made, about the durability, fitness. <br />handling. maintenance. operation. <br /> <br />47150 Rev. 1-96 Printerr-' itt Sheedy Insuring Agreement <br />lflC:t P::llt! rirp .And Marine Insur~~ftyGUJ'flS'96 All Riqhts ReservF!o <br /> <br />Page 9 of 23 <br />