There is no merit to petitioner's argument that since the limits of all of the offending vehicles' policies were not exhausted before respondent demanded arbitration, the underinsured coverage in its policy with respondent was never triggered, and that its application for a stay of arbitration should therefore be entertained notwithstanding its failure to move for that relief within the 20-day period prescribed by CPLR 7503 (c). Such an argument is, in essence that a condition...
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