# ENDORSEMENT NO. 24 (Continued)

The greater of:

1. Any Self Insured Retention applicable under the terms and conditions of this policy and its endorsements, or

2. Any valid and collectible insurance issued in the name of the joint venture, partnership, or limited liability company, or

3. The Named Insured's percentage interest in the joint venture, partnership, or limited liability company multiplied by the applicable retained limit listed in the Schedule of Retained Limits providing coverage to the Named Insured.

The Retained Limit(s) listed in the Schedule of Retained Limits will apply whether or not there is any available Scheduled Underlying Insurance or Other Insurance. If there is Scheduled Underlying Insurance or Other Insurance applicable to a Loss, amounts received through such Scheduled Underlying Insurance or Other Insurance for payment of the Loss may be applied to reduce or exhaust the Retained Limit.

The insurance afforded under this endorsement shall not be subject to any requirement of Section VII. Paragraph M. that a joint venture, partnership, or limited liability company be shown as a Named Insured in the Declarations.

**NOTICE:** THESE POLICY FORMS AND THE APPLICABLE RATES ARE EXEMPT FROM THE FILING REQUIREMENTS OF THE NEW YORK STATE INSURANCE DEPARTMENT. ALL OTHER TERMS, CONDITIONS, AND EXCLUSIONS OF THE POLICY REMAIN UNCHANGED. MUST MEET THE MINIMUM STANDARDS OF THE NEW YORK INSURANCE LAW AND REGULATIONS. 2 - 13000

Authorized Representative or countersignature (where required by law)