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.. i pq Changes and Assignmenf ~~ The terms of this POLICY shall not be waived or changed, nor shall an assignment of Interest under this POLICY be binding, except by en Endorsement to this POLICY Issued by the COMPANY. N Maintenance of UNDERLY/NG LlMITS Any underlying Insurance Ilsted on the Underlying Limits Schedule shall be maintained In full force end effect, except far the exhaustion of any underlying aggregate Ilmlts of Ilabillty, during the currency of this POLICY. Failure of the NAMED INSURED to comply with the foregoing shall not Invalidate this POLICY but In the event of such failure or In the event that an underlying Insurer falls to pay or becomes unable to pay because of financial Impairment or Insolvency or for any other reason, the COMPANY shall only be liable to the same extent as It would have been had the NAMED INSURED compiled with this Condition. (M) Uncolleetibilify of Underlying insurance Notwithstanding any of the terms of this POLICY that might be construed otherwise, the excess Insurance provided by this POLICY shall be excess over the stated maximum monetary Ilmlts of any underlying Insurance Ilsted on the Underlying Limits Schedule whether collectible or not collectible for any reason Including, but not limited to, uncollectlbllity (in whole or in parU bepuse of the financial Impairment or Insolvency of an underlying Insurer. The risk of uncollectiblllty (In whole or In parU of such underlying Insurance whether because of financial Impairment or Insolvency of an underlying Insurer or for any other reason, Is expressly retained by the INSURED and Is not In any way or under any circumstances Insured or assumed by the COMPANY. (hp DISCOVERY PER/OD (1) (a) In the event the COMPANY cancels or refuses to renew this POLICY other than for non-payment of premium, fraud, material misrepresentation or a material change In the nature of the risk insured, the DISCOVERY PERIOD shall be unlimited. An offer by the COMPANY of renewal on terms or premiums different from those In effect during the POLICY PERIOD shall not constitute pncellatlon or refusal to renew this POLICY. (b) If, In renewing this POLICY, the COMPANY Imposes a lower Ilmit of Ilabillty than that in effect during the POLICY PERIOD as stated In Item 5A of the Declarations, subJect to the provisions of section (5) of this Condltlon (N), end the INSURED does renew at the maximum limit of Ilabillty offered by Company, the DISCOVERY PERIOD shall be unlimited with respect to that portion of any CLAIM which Is covered by this POLICY but which portico is not covered by the renewal policy because such renewal policy Imposed a lower Ilmit of Ilabillty than that In effect during the POLICY PERIOD. (7a In the event of renewal of this POLICY on terms different from those In effect during the POLICY PERIOD (other than a lower Ilmlt of Ilabillty Imposed by the COMPANY or the revision of this Condltlon (M), or In the event the INSURED pncels or does not renew the POLICY, the DISCOVERY PERIOD shall be either (a) or (b) below: (a) twelve (17a months, starting with the end of the POLICY PERIOD; or (b) thirty-six (36) months, starting with the end of the POLICY PERIOD, If the COMPANY Issues a DISCOVERY PERIOD Endorsement. The COMPANY shall Issue such Endorsement If the NAMED INSURED: (q makes a written request for It which the COMPANY receives within sixty (60) days after the effective date of renewal, cancellation or non-renewal as applicable; and (Ip promptly pays the eddltlonal premium for the Endorsement. etoo ni9ot [ 13 of 15 ]