Common use of Limits, Sublimits and Deductibles Clause in Contracts

Limits, Sublimits and Deductibles. The limits and deductibles applicable to all policies of the Named Insured with the Underwriter shall be set forth on the Policy Declaration. Except in respect of a Designated Named Windstorm Occurrence, where different deductibles apply to different elements of Ultimate Net Loss arising out of one occurrence, then any Ultimate Net Loss which erodes one deductible also shall erode an equal or higher deductible applicable to other Ultimate Net Loss but shall not erode a lower deductible applicable to other Ultimate Net Loss; in no event shall the aggregate of the deductibles applicable to any given occurrence exceed the largest deductible for any Ultimate Net Loss implicated by such occurrence. With respect to a Designated Named Windstorm Occurrence, the deductible(s) with respect to any Offshore Geographic Region(s) shall apply separately from and cumulatively with the deductible(s) with respect to any Onshore Geographic Region(s) such that Ultimate Net Loss which erodes the former shall not erode the latter and vice versa; provided, however, as between and among multiple Offshore Geographic Regions, and/or, separately, as between and among multiple Onshore Geographic Regions, any Ultimate Net Loss arising out of an occurrence which erodes one deductible also shall erode an equal or higher deductible applicable to other Ultimate Net Loss arising out of the same occurrence but shall not erode a lower deductible applicable to other Ultimate Net Loss; in no event shall the aggregate of the deductibles applicable to any such occurrence exceed the largest deductible for any Ultimate Net Loss implicated by such occurrence separately for Offshore Geographic Regions and Onshore Geographic Regions. As respects insuring agreements 1 and 2, for all non-owned property insured by the Underwriter but which is not included in the Assured’s Unmodified Gross Assets and which is not used or intended for use in the operations of the Assured, there shall be a sublimit per Occurrence in the amount of fifty million dollars ($50,000,000), which shall be included within, and shall not increase, the insurance limit per Occurrence otherwise applicable in respect of such Occurrence as respects such non-owned property and other property collectively.

Limits, Sublimits and Deductibles. The limits and deductibles applicable to all policies of the Named Insured with the Underwriter shall be set forth on the Policy Declaration. Except in respect of a Designated Named Windstorm Occurrence, where different deductibles apply to different elements of Ultimate Net Loss arising out of one occurrence, then any Ultimate Net Loss which erodes one deductible also shall erode an equal or higher deductible applicable to other Ultimate Net Loss but shall not erode a lower deductible applicable to other Ultimate Net Loss; in no event shall the aggregate of the deductibles applicable to any given occurrence exceed the largest deductible for any Ultimate Net Loss implicated by such occurrence. With respect to a Designated Named Windstorm Occurrence, the deductible(s) with respect to any Offshore Geographic Region(s) shall apply separately from and cumulatively with the deductible(s) with respect to any Onshore Geographic Region(s) such that Ultimate Net Loss which erodes the former shall not erode the latter and vice versa; provided, however, as between and among multiple Offshore Geographic Regions, and/or, separately, as between and among multiple Onshore Geographic Regions, any Ultimate Net Loss arising out of an occurrence which erodes one deductible also shall erode an equal or higher deductible applicable to other Ultimate Net Loss arising out of the same occurrence but shall not erode a lower deductible applicable to other Ultimate Net Loss; in no event shall the aggregate of the deductibles applicable to any such occurrence exceed the largest deductible for any Ultimate Net Loss implicated by such occurrence separately for Offshore Geographic Regions and Onshore Geographic Regions. As respects insuring reinsurance agreements 1 and 2, for all non-owned property insured by the Underwriter but which is not included in the Assured’s Unmodified Gross Assets and which is not used or intended for use in the operations of the Assured, there shall be a sublimit per Occurrence in the amount of fifty million dollars ($50,000,000), which shall be included within, and shall not increase, the insurance reinsurance limit per Occurrence otherwise applicable in respect of such Occurrence as respects such non-owned property and other property collectively.

Limits, Sublimits and Deductibles. The policy limits and deductibles applicable to all policies of the Named Insured with the Underwriter shall be set forth on the Policy Declaration. Except in respect of a Designated Named Windstorm Occurrence, where different deductibles apply to different elements of Ultimate Net Loss arising out of one occurrenceOccurrence, then any Ultimate Net Loss which erodes one deductible also shall erode an equal or higher deductible applicable to other Ultimate Net Loss but shall not erode a lower deductible applicable to other Ultimate Net Loss; in no event shall the aggregate of the deductibles applicable to any given occurrence Occurrence exceed the largest deductible for any Ultimate Net Loss implicated by such occurrenceOccurrence. With respect to a Designated Named Windstorm Occurrence, the deductible(s) with respect to any Offshore Geographic Region(s) shall apply separately from and cumulatively with the deductible(s) with respect to any Onshore Geographic Region(s) such that Ultimate Net Loss which erodes the former shall not erode the latter and vice versa; provided, however, as between and among multiple Offshore Geographic Regions, and/or, separately, as between and among multiple Onshore Geographic Regions, any Ultimate Net Loss arising out of an occurrence Occurrence which erodes one deductible also shall erode an equal or higher deductible applicable to other Ultimate Net Loss arising out of the same occurrence Occurrence but shall not erode a lower deductible applicable to other Ultimate Net Loss; in no event shall the aggregate of the deductibles applicable to any such occurrence Occurrence exceed the largest deductible for any Ultimate Net Loss implicated by such occurrence Occurrence separately for Offshore Geographic Regions and Onshore Geographic Regions. As respects insuring agreements 1 and 2, for all non-owned property insured by the Underwriter but which is not included in the Assured’s Unmodified Gross Assets and which is not used or intended for use in the operations of the Assured, there shall be a sublimit per Occurrence in the amount of fifty million dollars ($50,000,000), which shall be included within, and shall not increase, the insurance policy limit per Occurrence otherwise applicable in respect of such Occurrence as respects such non-owned property and other property collectively.