Common use of Coverage B Clause in Contracts

Coverage B. As respects all other policies, the Company shall retain and be liable for the first $388,000,000 of ultimate net loss arising out of each loss occurrence. The Reinsurer shall then be liable, as respects each excess layer, for the amount by which such ultimate net loss exceeds the Company's applicable retention, but the liability of the Reinsurer under each excess layer shall not exceed the amount, shown as "Reinsurer's Per Occurrence Limit" for the excess layer in Schedule A attached hereto, as respects any one loss occurrence, nor shall it exceed the amount, shown as the "Reinsurer's Term Limit" for the excess layer in Schedule A attached hereto, as respects all loss occurrences during the term of this Contract.