-4-

container thereof, other than a vehicle, but shall not include any vending machine or any property other than such container, rented to or located for use of others but not sold;

(b) Liability arising out of operations, including any act or omission in connection with operations performed by or on behalf of the Named Insured on the premises or elsewhere whether or not goods or products are involved in such operations, if the occurrence occurs after such operations have been completed or abandoned and occurs away from premises owned, rented or controlled by the Named Insured; provided operations shall not be deemed incomplete because improperly or defectively performed or because further operations may be required pursuant to an agreement; provided further the following shall not be deemed to be "operations" within the meaning of this paragraph: (i) pick up or delivery, except from or onto a railroad car, (ii) the maintenance of vehicles owned or used by or in behalf of the insured, (iii) the existence of tools, uninstalled equipment and abandoned or unused materials.

6. **Occurrence**

The term "Occurrence" means an event or continuous or repeated exposure to conditions, which unexpectedly causes Personal Injury and/or Property Damage and/or Advertising Liability during the policy period. All such exposure to substantially the same general conditions existing at or emanating from each premises location shall be deemed one occurrence.

7. **Ultimate Net Loss**

The term "Ultimate Net Loss" shall mean the total sum which the Insured or any company as his insurer becomes obligated to pay by reason of Personal Injury or Property Damage or Advertising Liability claims, either through adjudication or compromise, and all sums paid for expense, including premiums for attachment or appeal bonds, in respect to litigation, settlement, adjustment and investigation of claims and suits which are paid as a consequence of any occurrence covered hereunder, excluding only the salaries of employees and office expenses of the Insured or of any underlying insurer or any other expenses which are recoverable through any other valid and collectible insurance.

8. **Aircraft**

The term "Aircraft" shall mean any heavier than air or lighter than air aircraft designed to transport persons or property.

EXCLUSIONS

This policy shall not apply:

(a) to liability for assault and battery committed by or at the direction of the Insured except liability for Personal Injury or death resulting from any act alleged to be assault and battery committed for the purpose of preventing or eliminating danger in the operation of aircraft,

98-03 N.Y. - METRO.
03 24 MAR 24'65
PL-40103-A