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have all your rights and duties under this Coverage Pert. Any subsidiary, and subsidiary dhereof, of yours which is a legally incorporated entity of which you own a financial interest of more than 5096 of the voting stock nnthe effective date ofthe Coverage Part. The insurance afforded herein for any subsidiary not named in this Coverage Part as a named insured does not apply to injury or damage with respect to which an insured under this Coverage Pad is also on insured under another policy or would be an insured under such policy but for its termination or the exhaustion of its limits of insurance. Any organization you newly acquire orform, other than apartnership, joint venture orlimited liability company, and over which you maintain financial interest ofmore than 50% ofthe voting etonk, will qualify as a Named Insured if there is no other similar insurance available tothat organization. However: a. Coverage under this provision is afforded only until the 180th day after you acquire or form the organization or the end of the policy period, whichever isoar|ier� . b. Coverage A does not apply to "bodily injury" or "property damage" that occurred before you acquired orformed the organization; and c. Coverage B does not apply to "personal and advertising injury" arising out of an offense committed before you acquired or formed the With respect \n"mobile equipment" registered in your name under any motor vehicle registration law, any person is an insured while driving such equipment along epublic highway with your permission. Any other person or organization responsible for the conduct of such person isalso oninsured, but only with respect bo liability arising out ofthe operation of the equipment, and only if no other insurance of any kind is available tothat person ororganization for this liability, However, noperson ororganization ivaninsured with respect to: a. "Bodily injury" to a co -"employee" of the person driving the equipment; or b. "Property damage" to property owned by, rented to, imthe charge oforoccupied byyou orthe employer of any parson who is on insured under this provision. PARAGON PARI A-201 1-056-01 REVIEWED BY, 5. NpnownedVVaharcraft With respect to watercraft you do not own that in |aoa than 51 feet long and is not being used to carry persons for a charge, any person is an insured while operating such watercraft with your permission. Any other person or organization responsible for the conduct of such person is also on innured, but only with respect to liability arising out of the operation of the watercraft, and only if no other insurance ofany kind is available to that person or organization for this liability. Mowever, no person or organization is an insured with respect to: u. "Bodily injury" to o co -"employee" of the person operating the watercraft; or b. "Property damage" toproperty owned by, rented to, inthe charge nforoccupied byyou orthe employer of any person who is an insured under this provision. GL Additional Insureds When Required By Written Contract, Written Agreement OrPermit The following person(s) or organization(s) are an additional insured when you have agreed, inawritten contract, written agreement or because of a permit issued by a state or political subdiviainn, that such person or organization be added as an additional insured on your policy, provided the injury or damage uoouro subsequent to the execution of the contract or agreement. Aperson ororganization isanadditional insured under this provision only for that period of time required by the contract oragreement. However, nosuch person ororganization iaoninsured under this provision if such person or organization is included as an insured by an endorsement issued by uaand made apart ofthis Coverage Part. a. Vendors Any person(s) or organization(s) (referred to below as vendor), but only with respect to "bodily injury" mr"property damage" arising out of"your products" which are distributed or sold in the regular course ofthe vendor's business and only ifthis Coverage Pad provides coverage for "bodily injury" or "property damaga" included within the "produoia- comp|e1edoperations hazard" (1) The insurance afforded the vendor io subject to the following additional exclusions: This insurance does not apply to: (m) "Bodily injury" or "property damage" for which the vendor is obligated to pay damages by reason of the assumption of liability in m contract or agreement. This exclusion does not apply to liability for damages that the vendor would have inthe absence of the contract or agreement; EUN|CEHEREQLA (PG, 11 of 23)