# ASSIGNMENT

Assignment of interest under this Policy shall not bind the Company unless and until its consent is endorsed hereon.

# CANCELLATION

(1) Coverage A under this Policy may be cancelled on a pro rata basis:

(a) at the end of any Annual Period by either the Named Insured or the Company by delivering prior written notice to the other;

(b) at any time by the Named Insured by delivering written notice to the Company at the address listed in Item 8(b) of the Declarations stating when, but in no event prior to the date such notice is received, cancellation shall be effective;

(c) at any time by the Company by delivering written notice to the Named Insured stating when, not less than ninety (90) days from the date the notice is received, cancellation shall be effective; or

(d) if any Insured shall institute a suit or proceeding against the Company other than as provided in Condition N below (or to enforce an award arising out of such arbitration), at any time thereafter by the Company by delivering written notice to the Named Insured stating when, not less than five (5) days from the date the notice is received, cancellation shall be effective.

(2) This Policy will be cancelled automatically retroactive to the commencement of the Annual Period, if the premium or proof of payment thereof is not received by the Company within five (5) business days of the commencement of such Annual Period.

(3) Coverage B may not be cancelled by either the Named Insured or the Company, except the Company may cancel effective immediately upon the delivery of written notice to the Named Insured if the Insured should institute a suit or proceeding against the Company other than as provided in Condition N below (or to enforce an award arising out of such arbitration).