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repeated exposure to substantially the same <br />general harmful conditions, and <br />2. With respect to "personal and advertising injury": <br />an offense described in one of the numbered <br />subdivisions of that definition in the "underlying <br />insurance". <br />"Policy period" means the period beginning with <br />the inception date stated as such in the Declarations <br />and ending with the earlier of: <br />1. The date of cancellation of this policy; or <br />2. The expiration date stated as such in the <br />Declarations. <br />"Self -insured retention" means the amount stated <br />as such in the Declarations which is retained and <br />payable by the "insured" with respect to each <br />"occurrence". <br />"Underlying insurance" means the insurance <br />policies listed in the Schedule of Underlying <br />Insurance Policies, including any renewals or <br />replacements thereof, which provide the underlying <br />coverages and limits stated in the Schedule of <br />Underlying Insurance Policies. The limit of <br />"underlying insurance" includes: <br />Page 14 of 14 <br />1. Any deductible amount; <br />2. Any participation of any "insured"; and <br />3. Any "self -insured retention" above or beneath <br />any such policy; <br />Less the amount, if any, by which the aggregate limit <br />of such insurance has been reduced by any <br />payment relating to any act, error, omission, injury, <br />damage or offense for which insurance is provided <br />by this policy, including Medical Payments Coverage <br />as described in the "underlying insurance." The <br />coverages and limits of such policies and any such <br />deductible amount, participation or "self -insured <br />retention" shall be deemed to be applicable <br />regardless of: <br />1. Any defense which any underlying insurer may <br />assert because of the "insured's" failure to <br />comply with any condition of its policy; or <br />2. The actual or alleged insolvency or financial <br />impairment of any underlying insurer or any <br />"insured". <br />The risk of insolvency or financial impairment of any <br />underlying insurer or any "insured" is borne by you <br />and not by us. <br />�oRaN <br />} z <br />RiskMmVmedDMsfan <br />REVIEWED & APPROVED BY.- <br />f R. V;&wd <br />Risk Management Analyst <br />