Common use of Cease Shipments Clause in Contracts

Cease Shipments. The Insured shall not incur any further exposure following the occurrence of an event of circumstances that may reasonably be expected to result in a Loss. The Insurer has no liability for further Shipments made to an Obligor: a) Which has become overdue in any payment obligation (whether or not insured under the Policy) to the Insured, beyond 30 days, unless postponed in accordance with the Postponement of Due Date clause; and/or b) If a payment is not made on a Due Date postponed in accordance with the Postponement of Due Date clause.

Cease Shipments. SPECIMEN The Insured shall not incur any further exposure following the occurrence of an event of circumstances that may reasonably be expected to result in a Loss. The Insurer has no liability for further Shipments made to an Obligor: a) Which has become overdue in any payment obligation (whether or not insured under the Policy) to the Insured, beyond 30 days, unless postponed in accordance with the Postponement of Due Date clause; and/or b) If a payment is not made on a Due Date postponed in accordance with the Postponement of Due Date clause.

Cease Shipments. The Insured shall not incur any further exposure following the occurrence of an event of circumstances that may reasonably be expected to result in a Loss. SPECIMEN The Insurer has no liability for further Shipments made to an Obligor: a) Which has become overdue in any payment obligation (whether or not insured under the Policy) to the Insured, beyond 30 days, unless postponed in accordance with the Postponement of Due Date clause; and/or b) If a payment is not made on a Due Date postponed in accordance with the Postponement of Due Date clause.