PROVIDED ALWAYS THAT. No liability shall attach to the Insurers hereunder unless and until the Primary Insurers have paid or have been held liable to pay the full amount of their ultimate net loss liability (after making proper deductions for all recoveries, salvages and other insurances (other than the Primary Policies as stated in the Schedule) whether recovered or not excluding all costs and expenses as specified in Items 4, 5 or 6 of the Schedule (hereinafter called "the excess any one loss").
Appears in 2 contracts
Sources: Excess Liability Insurance Agreement, Excess Insurance Agreement