# SECTION II - LIMITS OF INSURANCE

A. The Limits of Insurance shown in the Declarations page and the rules below fix the most we will pay regardless of the number of:

1. Insureds;
2. Claims made or suits brought; or
3. Persons or organizations making claims or bringing suits.

B. The Limits of Insurance apply only in excess of "underlying limits of insurance" listed in the Schedule of Underlying

C. The General Aggregate Limit is the most we will pay for all damages covered under the policy. However, the General Aggregate Limit will not apply to "underlying insurance" that does not contain an aggregate limit and will not apply to damages arising out of the products-completed operations hazard which are subject to D. below.

D. The Products-Completed Operations Aggregate Limit is the most we will pay because of damages arising out of the products-completed operations hazard.

E. Subject to C. or D. above, the Each Occurrence Limit is the most we will pay for all "loss" arising out of any one occurrence or offense.

F. Subject to C. or D. above, if "underlying limits of insurance" are reduced or exhausted by payment of "loss", and/or are reduced or exhausted by payment of costs of Defense and Supplementary Payments if they reduce the "underlying limits of insurance", the insurance provided by this Coverage Form will apply in excess of the reduced "underlying limit of insurance", or, if all "underlying limits of insurance" are exhausted, will apply in place of "underlying insurance".

The Limits of Insurance of this Coverage Part apply separately to each consecutive annual period and to any remaining period of less than 12 months, starting with the beginning of the policy period shown in the Declarations, unless the policy period is extended after issuance for an additional period of less than 12 months. In that case, the additional period will be deemed part of the last preceding period for purposes of determining the Limits of Insurance.

# SECTION III - COMMERCIAL EXCESS POLICY CONDITIONS

Unless otherwise stated in the Declarations, the following Conditions apply.

A. Appeals.

1. If the insured or any provider of "underlying insurance" elects not to appeal a judgment that exceeds "underlying limits of insurance", at our discretion we may do so.