Tom's statement with the rule is correct. However, Fran, I like to make situations on the water simple. Here is how I think of it:
L obtains an overlap with W from being clear astern. When that overlap is established (L is no longer clear astern) L will not attack W to the mark or through the rounding. That is the simplicity of it.
Now the rub comes that some think that W can dictate the sailing of proper course in W's perspective. She cannot. W must recognize the difference between sailing to the mark and agressive moves by L.
L still has the right to steer the boat in a seamanship manner. In this case made by Fran the boats are on a port tack to a mark rounding to port. That is a severe turn. I would demand room for a seamanship rounding.
Conversation between skippers have become more than they should. L should know she cannot be agressive and sail to the mark in a seamanship manner. W should know that she must keep clear, understand what is agressive sailing and not bicker about proper course when both boats are running at full speed. The latter is the rub I hear most.
Finally, Fran, your question again...when L establishes the overlap it is time for all to behave.
...94