(4) with respect to the ownership, maintenance or use, including loading and unloading, of any AUTO· MOBILE:

(A) owned by, lent to or hired for use by or on behalf of any person or entity named in paragraph (1) or (2) of this Definition (j), any person (including an employee of such person or entity) while using such AUTOMOBILE and any person or organization legally responsible for the use thereof, provided its actual use is with the permission of such person or entity;

(B) not owned by, lent to or hired for use by or on behalf of any person or entity named in paragraph (1) or (2) of this Definition (j), any executive officer, director, partner, employee or stockholder of such person or entity, but only while such AUTOMOBILE is being used in the business of such person or entity;

but none of the following shall be an INSURED under this paragraph (4) of Definition (j):

(C) any person while employed in or otherwise engaged in duties in connection with an AUTO· MOBILE sales agency, repair shop, service station, storage garage or public parking place not operated by any person or entity named in paragraph (1) or (2) of this Definition (j);

(D) the owner or lessee (of whom such person or entity is sub-lessee) of any AUTOMOBILE hired for use by or on behalf of or lent to such person or entity, and any agent or employee of such owner or lessee;

(5) any person or organization except:

(A) any organization acquired or formed by or merged with an INSURED after the inception of the POLICY PERIOD; and/or

(B) where such other person or organization is engaged in a joint venture with the NAMED INSURED; to whom any person or entity named in paragraph (1) or (2) of this Definition (j) is obligated by virtue of a written contract or agreement to provide insurance such as is afforded by this POLICY, but only to the extent of such obligation and only with respect to operations (other than commercial insurance operations) performed by such person or entity or facilities owned or used by such person or entity;

(6) it is agreed to automatically include as an INSURED without adjustment of premium under this POLICY, any entity acquired or formed by or merged with an INSURED (a “Potential Additional INSURED”) subsequent to the Inception Date stated in Item 4 of the Declarations and prior to the effective date of cancellation of the POLICY or the Expiration Date stated in Item 4 of the Declarations provided that the fair value of the sum of all cash, securities, assumed indebtedness and other consideration expended by all INSUREDs for any such acquisition, formation or merger does not exceed 5% of the total assets of the NAMED INSURED and its consolidated subsidiaries and affiliates as most recently reported to the COMPANY for rating purposes prior to the POLICY PERIOD, and provided further, that neither the operations of the Potential Additional INSURED prior to such acquisition, formation or merger nor the resultant combined or consolidated operations of such INSURED and the Potential Additional INSURED subsequent to such acquisition, formation or merger are materially different from those of such INSURED prior to such acquisition, formation or merger. Unless notice to the COMPANY shall have been given and any additional premium required by the COMPANY shall have been paid in respect of the acquisition or formation of or merger with any Potential Additional INSURED not meeting the criteria set forth in this paragraph (6) of Definition (j), such Potential Additional INSURED shall not be an INSURED hereunder; provided, however, it is understood and agreed that the COMPANY shall have no obligation to insure such Potential Additional INSURED hereunder and may in its sole discretion decline to provide insurance for such Potential Additional INSURED not meeting the criteria set forth in this paragraph (6). With respect to any OCCURRENCE giving rise to liability of any Potential Additional INSURED that qualifies to be an INSURED hereunder, the RETROACTIVE DATE shall be:

(A) in the case of automatic inclusion, the date of acquisition, formation or merger of the Potential Additional INSURED by an INSURED; or

(B) in the case where an additional premium is paid, the date of acquisition, formation or merger of the Potential Additional INSURED by an INSURED or such other date as may be agreed between the NAMED INSURED and the COMPANY;

(k) “INSURED’S PRODUCTS” means:

(1) goods or products manufactured, sold, tested, handled or distributed by the INSURED or others trading under its name if the end-use thereof occurs after possession of such goods or products has been relinquished to others by the INSURED or by others trading under its name and if such use occurs away from premises owned, rented or controlled by the INSURED; provided such goods or products shall be deemed to include any container thereof other than an AUTOMOBILE, WATER· CRAFT or AIRCRAFT; and/or