Newly Acquired Locations. All coverages provided by this Equipment Breakdown Coverage Document are extended to a newly acquired location that the Member District has purchased or leased. This automatic coverage begins at the time the Member District acquires the property and is subject to the following conditions:
(1) The Member District agrees to pay an additional contribution as determined by the CSD Pool. Such additional contribution will be computed from the date of acquisition.
(2) Newly acquired real property must be reported to the CSD Pool within ninety (90) days of acquisition.
(3) Coverage hereunder for each newly acquired location will end when any of the following first occurs:
(a) This Equipment Breakdown Coverage Document expires;
(b) The number of days specified in the Member District’s Equipment Breakdown Declarations for this coverage expire after the Member District acquires the location; or
(c) The location is more specifically insured.
(4) If limits or deductibles vary by location, the highest limits and deductibles will apply. However, the most the CSD Pool will pay for loss, damage or expense arising from any One Equipment Breakdown is the amount shown as the Newly Acquired Locations limit in the Member District’s Equipment Breakdown Declarations.
Newly Acquired Locations. Coverage is provided for “building(s)” up to a limit of $500,000 or to “contents” up to a limit of $500,000 on newly acquired locations. This shall cover new “building(s)” to be used in conjunction with the expansion of the Insured’s existing business but at a new location. This additional coverage shall cease 60 (sixty) days from the date construction begins or “contents” are shipped. Additional premium for such new coverage shall be due and payable for values so reported, computed from the date construction begins or additional “contents” arrive at the “premises”.
Newly Acquired Locations. (1) You will notify us promptly of any newly acquired location that you have purchased or leased during the Participation Period.
(2) All coverages applicable to any scheduled location under this Equipment Breakdown Coverage are extended to a newly acquired location that you have purchased or leased during the Participation Period.
(3) This coverage begins at the time you acquire the property. As respects newly constructed properties, we will only consider them to be acquired by you when you have fully accepted the completed project.
(4) This coverage ends when any of the following first occurs:
(a) This Equipment Breakdown Coverage expires;
(b) The number of days specified in the Equipment Breakdown Coverage Summary for this coverage expires after you acquire the location;
(c) The location is incorporated into regular coverage under the Fund’s Property Coverage Agreement; or
(d) The location is incorporated into the regular coverage of another Equipment Breakdown Coverage Document or policy you have.
(5) If limits or deductibles vary by location, the highest limits and deductibles will apply to newly acquired locations. However, the most we will pay for loss, damage or expense arising from any “one equipment breakdown” is the amount shown as the Newly Acquired Locations limit in the Equipment Breakdown Coverage Summary.
Newly Acquired Locations. The District must notify WSRMP promptly of any newly acquired location that the District has purchased or leased during the period of Agreement. Coverage will not be extended to any newly acquired location not reported to WSRMP within 365 days of its acquisition by the District. All coverages applicable to any scheduled location is extended to a newly acquired location that the District has purchased or leased during the period of Agreement. This coverage begins at the time the District acquires the property. As respects newly constructed properties, WSRMP will only consider them to be acquired by the District when the District has accepted or occupied the completed project.
Newly Acquired Locations non-PITO property locations acquired or certificate of occupancy issued after the policy inception date, that are less than $2,500,000 in building and contents value, will be processed as non-premium bearing transactions for the current policy year. Premium will be charged at next renewal.
