Common use of Cessation of a Subsidiary Clause in Contracts

Cessation of a Subsidiary. If during or prior to the Policy Period any entity ceases to be a Subsidiary, then coverage for such former Subsidiary and its Insured Persons under this Policy shall only be available, subject to all other terms and conditions of this Policy, for Wrongful Acts occurring or allegedly occurring prior to the date it ceased to qualify as a Subsidiary.

Cessation of a Subsidiary. If before or during or prior to the Policy Period any entity an Organization ceases to be a Subsidiary, then coverage for with respect to such former Subsidiary and its Insured Persons under this Policy coverage shall only be available, subject to all other terms and conditions of this Policy, continue for Claims for Wrongful Acts occurring while such Organization was a Subsidiary in accordance with either Section XVI, Acquisition of the Parent Organization, or allegedly occurring prior to the date it ceased to qualify as a SubsidiarySection XIX, Termination of Policy, whichever first occurs.