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<br />SECTION 3 - AGGREGATE EXCESS LOSS INSURANCE <br /> <br />If at the end of a Policy Year, Losses exceed the Annual Aggregate Attachment Point or the Minimum <br />Aggregate Attachment Point shown in the Schedule, We will pay You an amount equal to: <br /> <br />1. the amount by which Losses Paid during the Policy Year exceed the applicable Annual Aggregate <br />Attachment Point or the Minimum Attachment Point, whichever is greater. multiplied by. <br /> <br />2. the Benefit Percentage Payable and shown in the Schedule, subject to <br /> <br />3. the Maximum Aggregate Benefit as shown in the Schedule. <br /> <br />Payment of Policy benefits is: <br /> <br />1. subject to all tenns, conditions, limitations and exclusions in this Policy, and <br /> <br />2. contingent upon Our receipt of satisfactory proof of Loss (including, without limitation, an on-site <br />audit), and Your request for reimbursement. <br /> <br />Losses Paid under this Section 3 during any Policy Year will be detenrined according to the Policy <br />BasislBenefit Period, and will not include any amount paid or payable by Us to You for the applicable <br />Policy Year for Specific Excess Loss Insurance according to the terms in Section 4 of this Policy. <br /> <br />If this Policy terminates prior to the Expiration Date as shown in the Schedule no Aggregate Excess Loss <br />Benefits will be payable. <br /> <br />SL-2001 <br /> <br />8 <br /> <br />(6/01) <br />