Common use of Commencement and Expiration Clause in Contracts

Commencement and Expiration. A. This Contract is effective with respect to Loss Occurrences taking place on or between 12:01 a.m., Local Standard Time, January 1, 2008 and 12:01 a.m., Local Standard Time, January 1, 2009. Local Standard Time refers to the location of the risk. B. The Subscribing Reinsurer shall have no liability for losses arising out of occurrences commencing subsequent to 12:01 a.m., Local Standard Time, January 1, 2009, pursuant to this Addendum. C. If a Loss Occurrence covered hereunder is in progress at 12:01 a.m., Local Standard Time, January 1, 2009, it is agreed that, subject to the other conditions of the Contract, the Subscribing Reinsurer shall indemnify the Company as if the entire Loss Occurrence had occurred prior to 12:10 a.m., Local Standard Time, January 1, 2009.

Commencement and Expiration. A. This Contract is effective with respect to Loss Occurrences taking place on or between 12:01 a.m., Local Standard Time, January 1, 2008 2009 and 12:01 a.m., Local Standard Time, January 1, 20092010. Local Standard Time refers to the location of the risk. B. The Subscribing Reinsurer shall have no liability for losses arising out of occurrences commencing subsequent to 12:01 a.m., Local Standard Time, January 1, 2009, pursuant to this Addendum2010. C. If a Loss Occurrence covered hereunder is in progress at 12:01 a.m., Local Standard Time, January 1, 20092010, it is agreed that, subject to the other conditions of the Contract, the Subscribing Reinsurer shall indemnify the Company as if the entire Loss Occurrence had occurred prior to 12:10 a.m., Local Standard Time, January 1, 20092010.