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- A <br />, fEGIS <br />(2) NOTICE OF CIRCUMSTANCES, which shall Include but not be limited to Informatlon as to the <br />nature of any OCCURRENCE or circumstances, the actual or entlclpated InJury or damage <br />resulting therefrom, the names of any claimant(s) or potential claimant(s), end the manner In <br />which the INSURED first became aware of the OCCURRENCE or circumstances, <br />and such Informatlon and cooperation as the COMPANY may reasonably require. Neither <br />Applicatlon for this POLICY or for any renewals thereof nor any Informatlon contained therein <br />shall constitute a notice of CLAIM or NOTICE OF CIRCUMSTANCES. <br />(p) Warranty <br />The NAMED INSURED warrants and agrees as follows: <br />(1) It has no knowledge at POLICY Inception of any fact or circumstance not disclosed to the <br />COMPANY In the Applicatlon for this POLICY which Is likely to give rise to a CLAIM <br />hereunder: and <br />(?~ that, based upon reasonable inquiry and to the best of Its knowledge and belief: <br />(a) ell Informatlon provided to the COMPANY In the Applicatlon for this POLICY Is true and <br />correct; and <br />(b) no material Informatlon has been withheld. <br />(E) Cooperation and Sett/ementr <br />When there Is an OCCURRENCE which may Involve this POLICY, the NAMED INSURED may, <br />without preJudlce as to Ilablllty, proceed Immediately with settlements which In their aggregate do <br />not exceed the UNDERLYING LIMITS. The NAMED INSURED shall advise the representatives of the <br />COMPANY of any such settlements made. <br />The INSURED shall cooperate with the underlying Insurer(s), as required by the terms and <br />conditions of the underlying policy or policies, and shall enforce any right of contribution or <br />Indemnity against any person or organization who may be liable to the INSURED because of <br />BODILY INJURY, PROPERTY DAMAGE or PERSONAL INJURY with respect to which Insurance Is <br />afforded under this POLICY or the underlying policy or policies. <br />The COMPANY shall not be called upon to assume charge of the settlement or defense of any <br />CLAIM made against the INSURED, but the COMPANY shall have the right and shall be given the <br />opportunity to associate with the INSURED, or the INSURED'S underlying Insurer(s), or both, In <br />the defense and control of any CLAIM where the CLAIM Involves or may Involve the COMPANY In <br />which event the INSURED and the COMPANY shall cooperate In all things in the defense of such <br />CLAIM. <br />In the event that the COMPANY, In Its sole discretion, chooses to exercise its rights pursuant to <br />this Condltlon, no action taken by the COMPANY In the exercise of such rights shall serve to <br />modify or expand In any manner, the COMPANY'S Ilablllty or obllgatlons under this POLICY <br />beyond what the COMPANY'S Ilablllty or obligations would have been had It not exercised Its <br />rights under this Condltlon. Furthermore, In the event that one or more of the INSURED'S <br />underlying Insurers becomes Insolvent or financially Impaired or refuses to pay a elalm or defend <br />the INSURED, and the COMPANY exercises Its rights under this Condltlon, such action by the <br />COMPANY shall not serve to expand or modify In any way the COMPANY'S Ilablllty or obllgatlons <br />to the INSURED. The COMPANY'S Ilablllty and obllgatlons to the INSURED shall continue as set <br />forth In this POLICY and shall be without regard to the financial Impairment or Insolvency of en <br />underlying Insurer or the failure of an underlying Insurer to pay any elalm or defend the INSURED <br />for any Yeason whatsoever. <br />The INSURED and Its underlying Insurer(s) shall, at all times, use diligence and prudence In the <br />Investlgatlon, settlement and defense of all demands, suits or other proceedings. <br />8100 (1/90) [ 11 of 15 7 <br />