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a. As if each Named Insured were the only Named Insured; and <br /> b. Separately to each insured against whom claim is made or"suit" is brought. <br /> 8. Transfer of Rights of Recovery Against Others to Us. <br /> If an insured has rights to recover all or part of any payment we have made under this policy, those <br /> rights are transferred to us. The insured must do nothing after loss to impair them. However, where <br /> the Named Insured does not own, operate or control the insured, this condition will only require a <br /> reasonable attempt by the Named Insured to fulfill the condition. At our request, the insured will <br /> bring "suit"or transfer those rights to us and help us enforce them. <br /> We waive the right of recovery by reason of any liability incurred under this policy where you are <br /> required by an "insured contract"or where requested by the Corporate Risk Management <br /> Department of the first Named Insured in writing to waive such right of recovery. <br /> Recovery shall include subrogation, contribution, indemnification and defense. <br /> 9. When We do not Renew <br /> If we decide not to renew this policy, we will provide to the first Named Insured shown in the <br /> Declarations written notice of the non-renewal not less than 120 days before the expiration date. <br /> In the event of non-renewal, we will send written notice by certified or registered mail to the Vice <br /> President of Global Risk Management of the first Named Insured at the address shown in this policy. <br /> 10. Cancellation <br /> This policy cannot be canceled except for non-payment of premium. Cancellation means <br /> termination of the policy at any time prior to the expiration date, by either party. <br /> In the event of non-payment of premium, this policy may be canceled by us by sending written <br /> notice by certified or registered mail to the Vice President of Global Risk Management of the first <br /> Named Insured at the address shown in this policy, stating when not less than 15 days thereafter <br /> such cancellation shall be effective. <br /> 11. In Rem <br /> With respect to watercraft, it is agreed that any"occurrence"otherwise covered by the policy <br /> resulting in an action "In Rem" by liability of any vessel owned, chartered, maintained or used by the <br /> insured shall in all respects be treated in the same manner as though the action resulting there from <br /> was "In Personam" against the insured. <br /> SECTION V. <br /> DEFINITIONS <br /> 1. "Advertising injury" means injury arising out of one or more of the following offenses through <br /> publishing, broadcasting, telecasting or other means of communication,: <br /> a. Oral or written publication of material that slanders, defames, disparages or libels a person or <br /> organization's goods, products or services; <br /> b. Oral or written publication of material that violates a person's right of privacy; <br /> MS-405526 (10/25) Page 17 of 23 <br />