Common use of NEWLY ACQUIRED LOCATION Clause in Contracts

NEWLY ACQUIRED LOCATION. Subject to a limit of $250,000 on buildings and $100,000 on contents, this insurance shall cover property at any newly acquired location in Canada or the continental United States of America that is owned, rented or controlled by the Insured and occupied by the Insured for the purposes stated in the Declaration Page(s). This coverage attaches at the time of the acquisition and extends for a period of 30 days, or to the date of endorsement of this Form adding such location, or until the expiry date of this policy, whichever occurs first.