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The Insureds agree that those particulars and statements are representations that the <br />person or persons who signed the Application made to the Insurer on behalf of all <br />Insureds; that the Application is deemed to be incorporated into and forms a part of <br />this Policy; that those representations were a material inducement to the Insurer to <br />issue this Policy; that the Insurer issued this Policy in reliance upon those <br />representations; and that this Policy embodies all agreements existing between the <br />Insureds and the Insurer or any of its agents relating to this insurance. In the event that <br />any representation in the Application is untrue, this Policy will be void and of no effect <br />whatsoever, but only with respect to: <br />(1) any Insured who had knowledge or information that a representation was untrue; <br />and <br />(2) the Organization, if the person or persons who signed the Application had <br />knowledge or information that a representation was untrue. <br />B. Interrelationship and Date of Claim Clause: <br />More than one Claim involving the same Wrongful Act or Interrelated Wrongful Acts <br />of one or more of the Insureds will be deemed to constitute a single Claim and such <br />single Claim will be deemed to have been made at the earlier of the following times: <br />(1) the time the earliest of any Claim within such single Claim was first made; or <br />(2) the earliest time that notice was given under any policy of insurance of any <br />Wrongful Act, or any fact, circumstance, situation, event or transaction that <br />underlies any Claim within such single Claim. <br />C. Cancel lation/Nonrenewal Clause: <br />(1) The Insureds give the Parent Organization the exclusive power and authority to <br />cancel this Policy on their behalf. The Parent Organization may cancel this <br />Policy by surrendering it to the Insurer, or by mailing written notice to the Insurer <br />stating when thereafter such cancellation will be effective. The effective date of <br />cancellation stated in the notice will become the end of the Policy Period. <br />Delivery of such written notice will be equivalent to mailing. <br />(2) This Policy may be canceled by the Insurer only for non-payment of the <br />premium. If the Insurer cancels for non-payment of the premium, the Insurer <br />will mail written notice to the Parent Organization stating when, not less than <br />ten (10) days thereafter, such cancellation will be effective. <br />The mailing of any cancellation notice will be sufficient notice and the effective <br />date of cancellation stated in the notice will be the end of the Policy Period. <br />Delivery of such written notice by the Insurer will be equivalent to mailing. If the <br />foregoing notice is in conflict with any governing law or regulation, then it will be <br />amended to afford the minimum notice period permitted by law. <br />(3) If the Parent Organization or the Insurer cancels this Policy, the Insurer will <br />retain the pro rats proportion of the premium. Payment or tender of any unearned <br />premium by the Insurer will not be a condition precedent to the effectiveness of <br />cancellation, but such payment will be made as soon as practicable. <br />(4) If the Insurer decides not to renew this Policy, the Insurer shall provide written <br />notice to the Parent Organization at least 60 days prior to the end of the Policv <br />Period. The notice shall include the reason for such non-r <br />Risk Division <br />E <br />° REVIEWED & APPROVED BY. <br />PSNP1001 (01/01)�Aeevaa <br />'�--'Rfsk Management Specialist <br />