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Overland Pacific & Cutler Inc. <br />have all your rights and duties under this Coverage <br />Pa rt. <br />Any subodiery, and Subsidiary Uheneof, Of your <br />vvkiuh is a legally incorporated entity ofwhich You <br />own e financial interest of more than 5096 of the <br />voting stock on the effective date of the Coverage <br />Part, <br />The insurance afforded herein for any subsidiary <br />not named in this Coverage Pad as a named <br />insured does riot apply to injury or damage with <br />respect to which an insured under this Coverage <br />Part is also an insured under another policy or <br />would bean insured Linder such policy but for its <br />termination or the exhaustion of its limits of <br />insurance. <br />3. Newly Acquired orFormed Organization <br />Any organization you newly acquire cvform, other than <br />a partnership, joint venture or limited liability oompany, <br />and over which you maintain financial interest of more <br />than 50Y6 ofthe voting stock, will quality as Named <br />Insured ifthere is noother similar insurance available <br />tothat organization, Howmver� <br />a. Coverage under this provision is afforded only until <br />the 180th day after you acquire or form the <br />organization or the end of the policy period, <br />whichever isearlier, <br />b. Coverage A does not apply to "bodily in]ury" or <br />.'property damage" that occurred before you <br />acquired orformed the organization, and <br />c. Coverage B does not apply to "personal and <br />advertising injury" arising out of an offense <br />committed before you acquired or k)nned the <br />4. Mobile Equipment <br />With ns*peu to "mobile equipment" registered in your <br />name under any motor vehicle registration law, any <br />person is an insured while driving such equipment <br />along public highway with your, permission. Any other <br />person mrorganization responsible for the conduct of <br />such person is also an ineunad, but only with respect to <br />liability arising out of the operation of the equipment, <br />and only if no other insurance of any kind is available <br />tothat person ororganization for this liability, However, <br />noperson o/organization inaninsured with respect to: <br />a. "Bodily injup/' to a co -"employee" of the person <br />driving the equipment" or <br />b. "Property damage" to property owned by, rented to, <br />inthe charge cforoccupied byyou urthe employer <br />of any person who is an insured under this <br />6. NunownedWatercraft <br />With respect to watercraft you do not own that is less <br />than 51 feet long and is not being used to carry <br />persons for a ohorge, any person is an insured while <br />operating auch watercraft with your permission. Any <br />other person or organization responsible for the <br />conduct of such person is also an inaured, but only <br />with respect to liability ahn|nQ out ufthe operation of <br />the wabsroraft, and only J no other insurance of any <br />kind isavailable tothat person ororganization for this <br />liability <br />Muwe*er, noperson or organization is aninsured with <br />respect to: <br />a. "Bodily injury" to a oo-'enYdoyee' of the person <br />operating the watercraft" or <br />b. "Property damage" to property owned by. rented to, <br />inthe charge ofVroccupied byyou mthe employer <br />of any person who is an insured under this <br />provision. <br />6. Additional Insureds When Required By Written <br />Contract, Written Agreement C)rPermit <br />The following person(s) ororganization(s) are an <br />additional insured when you have agreed' in written <br />contraot, written agreement or because of a permit <br />issued by a state or political oubdivision, that auoh <br />person or organization be added as an additional <br />insured onyour policy, provided the injury or damage <br />occurs subsequent to the execution of the contract or <br />agreement, <br />A person ororganization is an additional insured under <br />this provision only for that period of time required by <br />the contract oragreement. <br />Hmwever, no such person ororganization is an insured <br />under this provision if such person or organization is <br />included as an insured by anendo/eement issued by <br />us and made a part of this Coverage Part. <br />a. Vendors <br />Any person(s) of, o/ganizotion(a) (referred to below <br />as vendor), but only with respect to "bodily injury" <br />orproperty damage' arising out nf"your products" <br />which are distributed orsold in the regular course <br />of the vendor's business and only if this Coverage <br />Part provides coverage for "bodily injury" or <br />"property damage' included within the ''producta- <br />oonnp|etedoperations hazard" <br />(1) The insurance afforded the vendor iasubject to <br />the following additional exclusions: <br />This insurance does riot apply to: <br />(a) 'Bodily injury" or "property <br />which the vendor is obligated to pay <br />damages by reason of the assumption of <br />liability in a contract or agreement, This <br />exclusion does not apply to liability for <br />damages that the vendor would have in the <br />absence of the contract oregneemenL� <br />