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NE 00 31 01 19 Includes copyrighted material of Insurance Services Office, Inc., with its permission. Page 10 of 10 <br />13. No Duty To Notify If We Do Not Renew <br />If we decide not to renew this policy, we are under no obligation to mail or deliver notice of nonrenewal to any <br />insured. <br />SECTION IV – DEFINITIONS <br />The definitions applicable to any "underlying insurance" also apply to this insurance. In addition, the following <br />definitions apply. <br />1. "Event" means an occurrence, offense, accident, act, or other event, to which the applicable "underlying <br />insurance" applies. <br />2. “Fungi” means any type or form of fungus, including mold or mildew and any mycotoxins, spores, wet or dry rot, <br />scents or byproducts produced or released by fungi. <br />3. "Injury or damage" means any injury or damage, covered in the applicable "underlying insurance" arising from <br />an "event". <br />4. "Silica" means silicon dioxide (occurring in crystalline, amorphous and impure forms), silica particles, silica dust <br />or silica compounds. <br />5. "Silica-related dust" means a mixture or combination of silica and other dust or particles. <br />6. "Ultimate net loss" means the total sum, after reduction for recoveries, or salvages collectible, that the insured <br />becomes legally obligated to pay as damages by reason of: <br />a. Settlements, judgments, binding arbitration; or <br />b. Other binding alternate dispute resolution proceeding entered into with our consent. <br />"Ultimate net loss" includes defense expenses if the "underlying insurance" speci fies that limits are reduced by <br />defense expenses. <br />7. "Underlying insurance" means any policy of insurance or self -insurance listed in the Schedule of “underlying <br />insurance”. Claims-made policies or endorsements will not be considered as “underlying insurance”. <br />DocuSign Envelope ID: A181A6E1-38C6-4FC4-9DB3-55096154243F