Common use of NEWLY ACQUIRED LOCATION Clause in Contracts

NEWLY ACQUIRED LOCATION. If there is a “breakdown” of “insured equipment” at a newly acquired location, the Insurer will pay for loss under (A) Indemnity Agreement of Section I – Insuring Agreement provided: (a) the Insured notifies the Insurer in writing within ninety (90) days after the date the location is acquired; (b) the newly acquired location is within the “coverage territory” or within any other country in which a location specified in the “Declarations Page” is located; (c) the Insured agrees to pay an additional premium for the insurance from the date the location is newly acquired in accordance with the Insurers’ Manual of Rates. The most the Insurer will pay under this extension in any “one breakdown” is the amount of insurance specified on the “Declarations Page” for Newly Acquired Location.

NEWLY ACQUIRED LOCATION. If there is a “breakdown” of “insured equipment” at a newly acquired location, the Insurer will pay for loss under (A) Indemnity Agreement of Section I – Insuring Agreement provided: (a) the Insured notifies the Insurer in writing within ninety (90) days after the date the location is acquired; (b) the newly acquired location is within the “coverage territory” or within any other country in which a location specified in the “Declarations Dec larations Page” is located; (c) the Insured agrees to pay an additional premium for the insurance from the date the location is newly acquired in accordance with the Insurers’ Manual of Rates. The most the Insurer will pay under this extension in any “one breakdown” is the amount of insurance specified on the “Declarations Declar ations Page” for Newly Acquired Location.