ACCO ENGINEERED SYSTEMS, INC. (2)

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Waste material includes materials which such "underlying insurance," but will ap- are intended to be or have been to be ply as if the "underlying insurance" was recycled, reconditioned or reclaimed. available and collectible. C. Any liability excluded by the Nuclear En- C. Changes ergy Liability Exclusion attached to this policy. Notice to any agent or knowledge pos- sessed by any agent or any other person V. DEFINITIONS will not effect a waiver or change in any part of this policy. This policy can only be A. "First underlying insurance" means the changed by a written endorsement that policy or policies of insurance stated as becomes a part of this policy and that is such in Item 5. of the Declarations. signed by one of our authorized repre- sentatives. B. "Loss" means those sums actually paid in the settlement or satisfaction of a claim D. Cancellation which you are legally obligated to pay as damages after making proper deductions 1. You may cancel this policy. You must for all recoveries and salvage. mail or deliver advance written notice to us stating when the cancellation is C. "Underlying insurance" means "first un- to take effect. derlying insurance" and all policies of in- surance listed in Item 5. of the Declara- 2. We may cancel this policy. If we cancel tions. because of nonpayment of premium, we must mail or deliver to you not less D. "Underlying Limits of Insurance" means than ten (10) days advance written no- the total sum of the limits of all applicable tice stating when the cancellation is to "underlying insurance" stated in Item 5. of take effect. If we cancel for any other the Declarations, including self-insurance, reason, we must mail or deliver to you or means other than insurance. not less than thirty (30) days advance written notice stating when the can- VI. CONDITIONS cellation is to take effect. Mailing that notice to you at your mailing address A. Appeals shown in Item 1. of the Declarations will be sufficient to prove notice. In the event you or any underlying insurer elects not to appeal a judgment in excess 3. The policy period will end on the day of the amount of the "Underlying Limits of and hour stated in the cancellation no- Insurance," we may elect to appeal at our tice. expense. If we do so elect, we will be liable for the costs and interest incidental 4. If we cancel, final premium will be cal- to this appeal. In no event will this provi- culated pro rata based on the time this sion increase our liability beyond the ap- policy was in force. plicable Limits of Insurance described in Section II. of this policy. 5. If you cancel, final premium will be more than pro rata; it will be based on B. Bankruptcy or Insolvency the time this policy was in force and increased by our short rate cancellation The bankruptcy, insolvency or inability to table and procedure. pay of any Insured or the bankruptcy, in- solvency or inability to pay of any of the 6. Premium adjustment may be made at underlying insurers will not relieve us the time of cancellation or as soon as from the payment of any claim or suit practicable thereafter but the cancella- covered by this policy. tion will be effective even if we have not made or offered any refund due In the event of bankruptcy or insolvency of you. Our check or our representative's any underlying Insurer, the insurance af- forded by this policy will not replace Risk Management Division REVIEWED&APPROVED BY: gr. Biro A4 paV4 o '® Risk Management Specialist -/ CE 65 24 06 97 (Page 3 of 7)