If you have high level of cardiovascular endurance, your body is able to supply the oxygen that your muscles need to do moderately intense aerobic, whole-body exercise for a long time
Muscular endurance is really important in any physical activity where you're using the same muscles over and over again - e.g. racquet sports like tennis or squash where you have to repeatedly swing your arms
Muscular endurance is also dead important towards the end of any long-distance race - rowers and cyclists need muscle endurance for a strong sprint finish