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have all your rights and duties under this Coverage <br />Part <br />e. Unnamed Subsidiary <br />Airy subsidiary, and subsidiary &en**[ of yuus <br />which is legally incorporated entity of which you <br />own a financial interest u[ more than 58% (if the <br />voting stock on the effective date of the Coverage <br />Port, <br />The insurance afforded herein for any subsidiary <br />not named in this Coverage Pod as o named <br />inaunsd does not apply to injury or damage with <br />respect to which an insured under this Coverage <br />Pail is also on insured under another policy or <br />wou|U be an insured under such policy but for its <br />ieoninahon or the exhaustion of its limits of <br />insurance, <br />Any organization You newly acquire m form, other than <br />a partnership, joint venture or limited liability company, <br />and over which you maintain financial interest ofmore <br />than 50% of the voting stmck, will qualify auaNamed <br />Insured if there is no other similar insurance available <br />iv that organization. However <br />e. Coverage Linder this provision in afforded only until <br />the 180U1 day after you acquire or form the <br />organization or the end of the policy pehod, <br />whichever isearlier; <br />b. Coverage A does not apply to "bodily injury" or <br />"property ummage' that ououneg uamns you <br />acquired or formed the o0unizahon;and <br />c. Cover-age B does not apply to "personal and <br />advertising injury^ arising ou( of an offense <br />committed before you acquired o' formed the <br />4. Mobile Equipment <br />With respect to "mobile equipment" registered in your <br />name, under any motor vehicle registration |ow, any <br />person is an insured while driving such equipment <br />along apub|iu highway with your permission. Any other <br />person or organization responsible for the oonduoi Of <br />such person is also aninaured but Only With respect to <br />liability arising out of the opemhon of the equipment, <br />and only if no other insurance of any kind is available <br />to that person or organization for this liability, However' <br />no per-son o/ Organization iaoo insured with respect to-, <br />a. "Bodily injury" W u co-"employee" of the person <br />driving the e4uipment�or, <br />& "Pmperty damage" ho property owned by' rented hz, <br />in the charge oforoccupied by you m the employer <br />of any person who is an insured under this <br />provision. <br />5. Nonowned Watercraft <br />With respect to mmiercna8 you do not own that is less <br />than 51 haa< long and is not being used to carry <br />persons for a chorge, any per-son is an insured while <br />operating such wotenre0 with your permission, Any <br />other person o/ organization responsible for the <br />conduct of such person is also an inaunad, but only <br />with respect to liability arising out of the operation of <br />the Watercraft, and only J no other insurance of any <br />kind is available to that person or organization for this <br />liability. <br />Mmwaver, no person or organization is an insured with <br />respect to <br />m. "Bodily injury" ioaoo-''amp|uyee''o( the person <br />operating the Watercraft; or, <br />b. "Property damage" (n pmpertyuwnmd by, rented to, <br />|n the charge nf or, occupied by you or the emp|oyer <br />of any person who is an insured under this <br />provision, <br />6. Additional Insureds When Required By Written <br />Contract, Written Agreement Or Permit <br />The following person(s) or organization(s) are an <br />additional insured when You have agreed, inawritten <br />oon\naot, written agreement or because of a permit <br />issued by a state or Vo|ihoe| subdivision, that such <br />person o/ organization be added as an additional <br />insured on you/ po|iuy, provided the injury or damage <br />occurs subsequent to the e,aoodon of the contract or <br />ogmcmu/x, <br />A person or organization is an additional insured under <br />this provision only for that period of time required by <br />the contract oragreement, <br />However, nu such person or orAooizaUon is an insured <br />under, this provision U such person ororganization is <br />included as an insured by an endorsement issued by <br />US and made u part ofthis Coverage Pori <br />a. Vendors <br />Any persnn(u)ororganizahon(s) (referred to below <br />as vendor)' bu\ on|y With respect to "bodily injury/ <br />or, "property damage" arising out of ^yomymduob^ <br />which are distributed or sold in the regular course <br />of the vendor's huyiness and only ifthis Coverage, <br />Port provides coverage for "bodily injury' or <br />"property damage" included within the "pmduc10- <br />oomp|eted operations hazon1" <br />(1) The inuunanoe afforded the vendor, is subject to <br />the following additional exclusicns: <br />This inSUrance does not apply to: <br />(a) "Bodily injury^ or "property dmnaga^ for- <br />which the vendor is obligated N pay <br />damages by eooun of ihe assumption of <br />liability in a uonixuci or agreement, This <br />exdusion does not apply to liability for <br />damoges that the vendor �ould have in the <br />absence of the contra(,t or agreenient, <br />