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N. Separation of"Insureds" Except with respect to the Limits of Insurance of this Policy and rights or duties specifically assigned to the first"Named Insured" designated in Item 1 of the Declarations, this insurance applies: 1. As if each "Named Insured"were the only"Named Insured", and 2. Separately to each "Insured"against whom claim is made or"Suit" is brought. O. Transfer of Rights of Recovery 1. If any"Insured" has rights to recover all or part of any payment we have made under this Policy, those rights are transferred to us. The "Insured" must do nothing after "Loss" to impair these rights and must help us enforce them. 2. Any recoveries shall be applied as follows: a. any person or organization, including the"Insured", that has paid an amount in excess of the applicable Limits of Insurance of this Policy will be reimbursed first; b. we then will be reimbursed up to the amount we have paid; and c. lastly, any person or organization, including the "Insured", that has paid an amount over which this Policy is excess is entitled to claim the remainder. Expenses incurred in the exercise of rights of recovery shall be apportioned among the persons or organizations, including the "Insured", in the ratio of their respective recoveries as finally determined. 3. If, prior to the time of an "Occurrence", you and the insurer of "Scheduled Underlying Insurance" waive any right of recovery against a specific person or organization for injury or damage as required under an "Insured Contract we will also waive any rights we may have against such person or organization. P. Transfer of Your Rights and Duties Your rights and duties under this Policy may not be transferred without our written consent. If you die or are legally declared bankrupt, your rights and duties will be transferred to your legal representative, but only while acting within the scope of duties as your legal representative. However, notice of cancellation sent to the first "Named Insured" designated in Item 1 of the Declarations and mailed to the address shown in this Policy will be sufficient notice to effect cancellation of this Policy. Q. When We Do Not Renew If we decide not to renew this Policy, we will mail or deliver to the first"Named Insured" shown in the Declarations written notice of the non-renewal not less than thirty(30) days before the expiration date. If notice is mailed, proof of mailing will be sufficient proof of notice. CUU 050 0805 ©XL America, Inc. 2004 Page 20 of 28 Includes copyrighted material of Insurance Services Office, Inc.,with its permission.