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contribution by equal shares, we will contribute <br />by limits. Under this method, each insurer's <br />share is based on the ratio of its applicable limit <br />of insurance to the total applicable limits of <br />insurance of all insurers_ <br />5. Premium Audit. <br />a. We will compute all premiums for this <br />Coverage Part in accordance with our rules and <br />rates. <br />b. Premium shown in this Coverage Part as <br />advance premium is a deposit premium only. At <br />the close of each audit period we will compute <br />the earned premium for that period. Audit <br />premiums are due and payable on notice to the <br />first Named Insured. If the sum of the advance <br />and audit premiums paid for the policy term is <br />greater than the earned premium, we will return <br />the excess to the first Named Insured. <br />c_ The first Named Insured must keep records of <br />the information we need for premium <br />computation, and send us copies at such times as <br />we may request. <br />6. Representations. <br />By accepting this policy, you agree: <br />a. The statements in the Declarations are accurate <br />and complete; <br />b. Those statements are based upon <br />representations you made to us; and <br />c. We have issued this policy in reliance upon your <br />representations. <br />7. Separation of Insureds. <br />Except with respect to the Limits of Insurance, and <br />any rights or duties specifically assigned in this <br />Coverage Part to the first Named Insured, this <br />insurance applies: <br />a. As if each Named Insured were the only Named <br />Insured; and <br />b. Separately to each insured against whom claim <br />is made or "suit" is brought. <br />8. Transfer of Rights Of Recovery Against Others To <br />Us. <br />If the insured has rights to recover all or part of any <br />payment we have made under this Coverage Part, <br />those rights are transferred to us_ The insured must <br />do nothing after loss to impair them. At our request, <br />the insured will bring "suit" or transfer those rights <br />to us and help us enforce them. <br />9. When We Do Not Renew. <br />If we decide not to renew this Coverage Part, we will <br />mail or deliver to the first Named Insured shown in <br />the Declarations written notice of the nonrenewal <br />not less than 30 days before the expiration date_ <br />If notice is mailed, proof of mailing will be <br />sufficient proof of notice. <br />SECTION V - DEFINITIONS <br />1 . "Advertising injury" means injury arising out of one <br />or more of the following offenses: <br />a. Oral or written publication of material that <br />slanders or libels a person or organization or <br />disparages a person's or organization's goods, <br />products or services; <br />b. Oral or written publication of material that <br />violates a person's right of privacy; <br />c. Misappropriation of advertising ideas or style of <br />doing business; or <br />d_ Infringement of copyright, title or slogan. <br />"Auto" means a land motor vehicle, trailer or <br />semitrailer designed for travel on public roads, <br />including any attached machinery or equipment_ But <br />"auto" does not include "mobile equipment." <br />"Bodily injury" means bodily injury, sickness or <br />disease sustained by a person, including death <br />resulting from any of these at any time. <br />"Coverage territory" means: <br />a. The United States of America (including its <br />territories and possessions), Puerto Rico and <br />Canada; <br />b. International waters or airspace, provided the <br />injury or damage does not occur in the course of <br />travel or transportation to or from any place not <br />included in a. above; or <br />c. All parts of the world if: <br />(1) The injury or damage arises out of: <br />(a) Goods or products made or sold by you <br />in the territory described in a. above; or <br />(b) The activities of a person whose home <br />is in the territory described in a. above, <br />but is away for a short time on your <br />business; and <br />(2) The insured's responsibility to pay damages <br />is determined in a "suit" on the merits, in the <br />territory described in a. above or in a <br />settlement we agree to. <br />"Impaired property" means tangible property, other <br />than "your product" or "your work," that cannot be <br />used or is less useful because: <br />a. It incorporates "your product" or "your work" <br />that is known or thought to be defective, <br />deficient, inadequate or dangerous; or <br />b. You have failed to fulfill the terms of a contract <br />or agreement; <br />if such property can be restored to use by: <br />a. The repair, replacement, adjustment or removal <br />of "your product" or "your work;" or <br />b. Your fulfilling the terms of the contract or <br />agreement. <br />"Insured contract" means: <br />a. A lease of premises; <br />b. A sidetrack agreement; <br />c. Any easement or license agreement, except in <br />connection with construction or demolition <br />operations on or within 50 feet of a railroad; <br />d. An obligation, as required by ordinance, to <br />indemnify a municipality, except in connection <br />CG 0001 (11/88) Page 7 of 9 <br />