Common use of Cessation of Subsidiary Clause in Contracts

Cessation of Subsidiary. If any Insured Entity ceases to be a Subsidiary, coverage under this Policy shall continue for such Subsidiary but only for Wrongful Acts by such Subsidiary or any Insured Person or Plan of such Subsidiary occurring prior to the date such Insured Entity ceased to be a Subsidiary.

Cessation of Subsidiary. If Unless otherwise agreed in this Policy, if before or during the Policy Period any Insured Entity entity ceases to be a Subsidiary, coverage as is provided under this Policy with respect to such Subsidiary and its Insured Persons shall continue for such Subsidiary until termination of this Policy (or any continuous renewal of this Policy by the Insurer) but only for with respect to any Wrongful Acts Act by such Subsidiary or any Insured Person or Plan of such entity committed subsequent to the date that such entity first became a Subsidiary occurring and prior to the date such Insured Entity entity ceased to be a Subsidiary.