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have all your rights and duties under this Coverage Part. e. Unnamed Subsidiary Any subsidiary, and subsidiary thereof, of yours which Is a legally incorporated entity of which you own a financial interest of more than 50% of the voting stock on the effective date of the Coverage Pad. 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 Part is also an insured under another policy or would be an insured under such policy but for its termination or the exhaustion of its limits of insurance. 3. Newly Acquired or Formed Organization Any organization you newly acquire or form, other than a partnership, joint venture or limited liability company, and over which you maintain financial interest of more than 50% of the voting stock, will qualify as a Named Insured if there is no other similar insurance available to that 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 is earlier: b. Coverage A does not apply to "bodily injury" or "property damage" that occurred before you acquired or formed 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 organization. 4. Mobile Equipment With respect to "mobile equipment" registered in your name under any motor vehicle registration law, any person is an insured while driving such equipment along a public highway with your permission. Any other person or organization responsible for the conduct of such person is also an insured, but only with respect to liability arising out of the operation of the equipment, and only if no other insurance of any kind is available to that person or organization forthis liability. However, no person or organization is an Insured 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, In the charge of or occupied by you or the employer of any person who Is an insured under this provision. Page 10 of 18 5. Nonowned Watercraft d I'I With respect to watercraft you do not own iha s less than 51 feet long and is not being useJ 10 cagy persons for a charge, any person is an in un ic wfttle operating such watercraft with your perm ssi . Ahy other person or organization responsib e for the conduct of such person is also an Insure , t oply with respect to liability arising out of the C pa a JOM of the watercraft, and only if no other Insurance s s IF any kind is available to that person or organize !or or this liability. However, no person or organization is an i isured Ah respect to: to bay a. "Bodily injury' to a co- "employee" of he pers bn operating the watercraft; or m n . this b. "Property damage" to property owned b , re ted lo, in the charge of or occupied by you or ft e en ploger of any person who Is an Insured under this provision. 0 06j 05 6. Additional Insureds When Rgquired Ily Written Contract, Written Agreement Or Permit The following person(s) or organizations) f re Ian additional Insured when you have agreed, in a writ(en contract, written agreement or because f perinit issued by a state or political subdivision it a such person or organization be added as ar slditioj Etl insured on your policy, provided the injury or damage occurs subsequent to the execution of the co ilractl or agreement. A person or organization is an additional iru iur c under this provision only for that period of time eq rediby the contract or agreement. However, no such person or organization i ar suted under this provision if such person or org 3nl uation Is included as an Insured by an endorsemer l If s jed iby us and made a part of this Coverage Pod. a. Vendors Any person(s) or organization(s) (referr d below as vendor), but only with respect to "b dl y injrl y or "property damage" arising out of "your r r dudts" which are distributed or sold in the regular ou e of the vendor's business and only if this o er4ge Part provides coverage for "bodily injury" 1 or "property damage" included within the "f r dutits- completed operations hazard ". (1) The insurance afforded the vendor i s s • jec( to the following additional exclusions: This insurance does not apply to: (a) "Bodily Injury" or "property d image" 'for which the vendor is obligated to bay damages by reason of the assurriftionl of liability in a contract or agre m n . this exclusion does not apply to lie I ity ;for damages that the vendor would have in the absence of the contract or agreement HO 0 06j 05