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<br />CX 00 01 04 13 © Insurance Services Office, Inc., 2012 Page 3 of 5 <br /> <br /> 3. If any "controlling underlying insurance" has a <br />policy period that is different from the policy period <br />of this Coverage Part then, for the purposes of this <br />insurance, the "retained limit" will only be reduced <br />or exhausted by payments made for "injury or <br />damage" covered under this insurance. <br />The Aggregate Limit of this Coverage Part applies <br />separately to each consecutive annual period of this <br />Coverage Part and to any remaining period of this <br />Coverage Part of less than 12 months, starting with <br />the beginning of the policy period shown in the <br />Declarations, unless the policy period is extended <br />after issuance for an additional period of less than 12 <br />months. In that case, the additional period will be <br />deemed part of the last preceding period for purposes <br />of determining the Limits of Insurance. <br />SECTION III – CONDITIONS <br />The following conditions apply. In addition, the <br />conditions applicable to any "controlling underlying <br />insurance" are also applicable to the coverage <br />provided under this insurance unless superseded by <br />the following conditions. <br /> 1. Appeals <br />If the "controlling underlying insurer" or insured <br />elects not to appeal a judgment in excess of the <br />amount of the "retained limit", we may do so at our <br />own expense. We will also pay for taxable court <br />costs, pre- and postjudgment interest and <br />disbursements associated with such appeal. In no <br />event will this provision increase our liability <br />beyond the applicable Limits of Insurance <br />described in Section II – Limits Of Insurance. <br /> 2. Bankruptcy <br /> a. Bankruptcy Of Insured <br />Bankruptcy or insolvency of the insured or of <br />the insured's estate will not relieve us of our <br />obligations under this Coverage Part. <br /> b. Bankruptcy Of Controlling Underlying <br />Insurer <br />Bankruptcy or insolvency of the "controlling <br />underlying insurer" will not relieve us of our <br />obligations under this Coverage Part. <br />However, insurance provided under this Coverage <br />Part will not replace any "controlling underlying <br />insurance" in the event of bankruptcy or <br />insolvency of the "controlling underlying insurer". <br />The insurance provided under this Coverage Part <br />will apply as if the "controlling underlying <br />insurance" were in full effect and recoverable. <br /> 3. Duties In The Event Of An Event, Claim Or Suit <br /> a. You must see to it that we are notified as soon <br />as practicable of an "event", regardless of the <br />amount, which may result in a claim under this <br />insurance. To the extent possible, notice <br />should include: <br /> (1) How, when and where the "event" took <br />place; <br /> (2) The names and addresses of any injured <br />persons and witnesses; and <br /> (3) The nature and location of any "injury or <br />damage" arising out of the "event". <br /> b. If a claim is made or suit is brought against any <br />insured, you must: <br /> (1) Immediately record the specifics of the <br />claim or suit and the date received; and <br /> (2) Notify us as soon as practicable. <br />You must see to it that we receive written <br />notice of the claim or suit as soon as <br />practicable. <br /> c. You and any other insured involved must: <br /> (1) Immediately send us copies of any <br />demands, notices, summonses or legal <br />papers received in connection with the <br />claim or suit; <br /> (2) Authorize us to obtain records and other <br />information; <br /> (3) Cooperate with us in the investigation or <br />settlement of the claim or defense against <br />the suit; and <br /> (4) Assist us, upon our request, in the <br />enforcement of any right against any <br />person or organization which may be liable <br />to the insured because of "injury or <br />damage" to which this insurance may also <br />apply. <br /> d. No insured will, except at that insured's own <br />cost, voluntarily make a payment, assume any <br />obligation, or incur any expense, other than for <br />first aid, without our consent. <br /> 4. First Named Insured Duties <br />The first Named Insured is the person or <br />organization first named in the Declarations and is <br />responsible for the payment of all premiums. The <br />first Named Insured will act on behalf of all other <br />Named Insureds for giving and receiving of notice <br />of cancellation or the receipt of any return <br />premium that may become payable. <br />Docusign Envelope ID: AA9A7CC3-A9B9-47D8-A802-F89481667D21