It is noted and agreed that legal liability in
respect of loss of or damage to Principal's
properties, other than cargoes under care,
custody and control of the Insured, and death
or injury to Principal's employees shall be
deemed as third party liabilities. Similarly,
loss of or damage to Principal's material
handling equipment used by the Insured at
Principal's premises shall be deemed as third
party liabilities (whether such material
handling equipments are within or beside YLT's
warehouse)