bear all legal costs and expenses incurred until such time as the Retained Amounts are exhausted by the payment of actual damages.

4. In the event of the reduction or exhaustion of the aggregate limits of the Retained Amounts by payments of "claims" that would be insured by our policy, we will, subject to the terms and conditions of this policy and the limit of liability stated in the Declarations:

a. in the event of reduction, pay excess of the reduced Retained Amount, or

b. in the event of exhaustion, continue in force as underlying insurance, subject to the "insured's" retention of an amount equal to that stated in the Declarations as Self Insured Retention. The Self Insured Retention applies separately to each and every "occurrence".

5. These Retained Amounts will only be reduced or exhausted by payment of "claims" that would be insured by this policy.

C. Occurrence Limit

Subject to the above provision respecting "aggregates", the limit of liability stated in the Declarations as "per occurrence" is the total limit of our liability for "ultimate net loss" including damages for care, loss of services or loss of consortium because of "Personal Injury", "Property Damage", and "Advertising Injury" combined, sustained by one or more persons or organizations as a result of any one "occurrence".

D. Limit Exhaustion

This policy shall cease to apply after the applicable aggregate limits of liability have been exhausted by payment of defense costs and/or judgments and/or settlements.