Automatic Inclusion. The terms and conditions of the Fifth-Year Op- tion shall, if exercised, be as set forth below. The Fifth-Year Option shall also contain all permissible non-compensation terms from the player’s year-four contract carried for- xxxx unchanged. The Fifth-Year Option shall be deemed a part of every Rookie Contract of a player selected in the first round by virtue of this Agreement and may not be separately attached to such Rookie Contract.
Automatic Inclusion. This Policy automatically extends to include the interests and property, in respect of which there is no existing insurance, of any new acquisition or new entity formed by or merged with the Insured hereinafter referred to an “acquisition”, subject to the terms and conditions of this Policy and the following premium considerations:
i) Acquisition with - business activities similar to those of the Insured:
a) if the total Property Damage/Engineering and Business Interruption values are no greater than the limit of liability stated in the Specification for this general extension, a pro rata premium shall be paid for the period from the date of acquisition to expiry of the Period of Insurance.
b) if the total Property Damage/Engineering and Business Interruption values exceed the limit of liability stated in the Specification for this general extension, an additional premium shall be required by the Insurers for the period from the date of acquisition to expiry of the Period of Insurance.
ii) Acquisition with - business activities not similar to those of the Insured: an additional premium shall be required by the Insurers for the period from the date of acquisition to expiry of the Period of Insurance irrespective of the Property Damage/Engineering and Business Interruption values. If the Insured decides not to conclude the acquisition, the insurance which applied for the interim period becomes void and no premium shall be paid for such interim period irrespective of the total Property Damage/Engineering and Business Interruption values.
Automatic Inclusion primary cover
1. Acquisition with – business activities similar to those covered
1.1 If the total property and business interruptions values are no greater than the limit for this extension stated in the statement of cover, no contribution will be paid for the pro rata period commencing from the attachment date up to renewal date.
1.2 If the total property and business interruption values exceed the limit for acquisitions stated in the statement of cover a contribution is to be agreed for period commencing from attachment date of the cover up to the renewal date.
2. Acquisition with – business activities not similar to those covered An additional contribution will be required by the Company for the pro rata period commencing from the attachment date of the cover up to renewal date irrespective of the property and business interruption values. If the participant decides not to conclude the acquisition the cover which applied for the interim period becomes void and no contribution will be paid for such interim period irrespective of the total property damage and business interruption values.
