reimbursement) makes available Aircraft owned, operated or used by it or aviation transportation services to others;

(2) use of any Aircraft held in inventory or otherwise for sale, lease, charter or delivery to another person by an Insured in the business of manufacture, sale, lease or charter of Aircraft;

(3) use of Aircraft for product testing or demonstration purposes;

(4) use of Aircraft owned by a party other than the Insured which is being serviced, maintained, fueled or tested or otherwise is in the temporary care, custody or control of the Insured in connection with any business operations of the Insured relating to Aircraft servicing, maintenance, fueling, testing, storage or associated or similar matters; or

(5) use of any Aircraft giving rise to liability of the Insured arising out of the Insured's Products.

P. The "Insured" means, except as specifically stated otherwise in this Policy, all Insureds as defined below:

(1) the Named Insured and, if the Named Insured is designated in Item 1(a) of the Declarations as a partnership or Joint Venture, the partnership or Joint Venture so designated and each partner or member thereof but only with respect to his or its liability as such;

(2) (a) any subsidiary or affiliate of the Named Insured for any Annual Period whose accounts as of the date of the financial statements of the Named Insured submitted to the Company most recently prior to the rating of the premium for such Annual Period (i) are consolidated in the financial statements of the Named Insured in accordance with generally accepted accounting principles in the United States of America, or (ii) were eligible for such consolidation (or in the case of a non-United States Named Insured would have been consolidated or eligible for consolidation if United States generally accepted accounting principles applied) and whose financial statements were submitted to the Company with such financial statements of the Named Insured as of such date;