Newly Acquired Property. Property which is acquired, or improvements, alterations or additions which are made to covered property after a covered entity’s coverage period begins will be automatically covered for a period of sixty (60) days. Such properties and improvements must be reported, in writing, and the proper premium paid during this sixty (60) day period or coverage will be discontinued and any claims associated with such property will be denied coverage.
Newly Acquired Property. If you acquire any additional data, media or equipment, we will automatically insure these under this form for up to $2,000.00, provided you notify us within 30 days of acquiring such new property. INSURED PERILS You are insured against All Risks of direct physical loss or damage subject to the exclusions and conditions which follow. LOSS OR DAMAGE NOT INSURED We do not insure:
Newly Acquired Property. If you acquire another boat or motor, boat trailer or miscellaneous equipment in addition to or as a replacement for the described property, we will insure the newly acquired property for a period not exceeding 30 days from the date of acquisition. We shall be liable only for the amount of insurance on the property that you sold, or retained, or the purchase price of the new property, whichever is less, except that a maximum limit of $5,000 will apply to newly acquired miscellaneous equipment.
Newly Acquired Property. Any insurance provided under this Coverage Agreement for Newly Acquired Property is extended to the coverage provided by this endorsement. The most we will pay for loss or damage to Newly Acquired Property is $2,000,000 unless otherwise shown in a schedule.
Newly Acquired Property. The Borrower shall (i) notify the Collateral Agent with respect to any interest acquired by the Borrower or any of its Consolidated Subsidiaries in any Property after the date hereof (including by acquisition of any Person which becomes a Consolidated Subsidiary of the Borrower, but excluding any Property acquired in a transaction or a series of transactions where the consideration paid or delivered in exchange therefor is or has a value less than $500,000 or such Property consists of Mobile Equipment) not less than five (5) Business Days after such acquisition, and (ii) not later than sixty (60) days after request by the Collateral Agent or the Lenders, cause the Borrower or such Consolidated Subsidiary which acquires such Property to mortgage, assign or grant a security interest in such Property to the Collateral Agent, for the benefit of the Lenders, and, after, and to execute and deliver such other documentation, evidence of ownership interests and other information regarding such Property as the Collateral Agent may reasonably request, including Code financing statements, environmental assessments, corporate resolutions and other corporate documentation, opinions of counsel and evidence of title, all in form and substance reasonably satisfactory to the Collateral Agent [; provided, however, that unless an Event of Default is in existence, if the consent of a third party is necessary to the granting of a security interest, mortgage or assignment, the Borrower or Consolidated Subsidiary which acquires such Property shall not be required to grant a security interest, mortgage or assignment in such Property to the Collateral Agent if the Borrower or Consolidated Subsidiary, as the case may be, has used commercially reasonable efforts to obtain such consent and the consent has not been granted].
Newly Acquired Property. If you acquire any additional trailers, we will automatically insure these under this rider provided that you notify us within 30 days. We will not pay more than the amount(s) of insurance shown on your coverage summary page. This extension only applies to newly acquired trailers of a type already insured under this coverage.
Newly Acquired Property. If during the policy period “you” acquire property of a type already covered by this form, “we” will cover that property for the lesser of:
Newly Acquired Property. 1. We cover additional fine arts that you acquire during the policy period. This property must be reported to us within 90 days from the date you acquire it. Coverage will cease for additional fine arts not reported to us within this 90 day period. Premium will be charged from the date you acquire this property. We cover these items only for their actual cash value until they are reported to us. The most that we will pay, in the event of a loss, for all such items is 25 percent of the total of the limits of coverage as shown on the declarations for all scheduled fine arts.
Newly Acquired Property. All newly acquired property shall be reported to us within one hundred twenty (120) days in order for coverage to continue and shall be limited to $10,000,000 until such time as reported to us, but no longer than one hundred twenty (120) days after acquisition.
Newly Acquired Property a. We will pay for direct physical loss or damage caused by or resulting from a Covered Cause of Loss to Newly Acquired Property.
