Common use of CONDITIONAL RECEIPT LIABILITY Clause in Contracts

CONDITIONAL RECEIPT LIABILITY. The Pool Reinsurers will be liable for losses under the terms of a Conditional Receipt or Temporary Insurance Receipt to the extent that the Ceding Company is liable.

CONDITIONAL RECEIPT LIABILITY. The Pool Reinsurers will be liable for losses under the terms of a Conditional Receipt or Temporary Insurance Receipt to the extent that the Ceding Company is liableliable in its underlying reinsurance agreement with the Issuing Company.