Common use of Expiration of Facultative Offer Clause in Contracts

Expiration of Facultative Offer. Any offer from the Reinsurer or its facultative underwriting Designee to reinsure the Policy will expire _________ (__) days after the offer is made, unless the facultative offer specifies otherwise or the Reinsurer extends the offer period in writing. The Company may accept the facultative reinsurance offer within the offer period and shall notify the Reinsurer of such acceptance with appropriate written documentation that is mutually acceptable to the Company and Reinsurer. Reporting of these cases will follow the procedures outlined in Schedule D, “Administration Reports”.

Expiration of Facultative Offer. Any offer from the Reinsurer or its facultative underwriting Designee to reinsure the Policy will expire _________ expires one hundred twenty (__120) days after the offer is made, unless the facultative offer specifies otherwise or the Reinsurer extends the offer period in writing. The Company may accept the facultative reinsurance offer within the offer period and shall notify the Reinsurer of such acceptance with appropriate written documentation that is mutually acceptable to the Company and Reinsurer. Reporting of these cases will follow by following the procedures outlined in Schedule D, “Administration Reports”.C.

Expiration of Facultative Offer. Any offer from the Reinsurer or its facultative underwriting Designee to reinsure the Policy will expire _________ one hundred twenty (__120) days after the offer is made, unless the facultative offer specifies otherwise or the Reinsurer extends the offer period in writing. The Company may accept the facultative reinsurance offer within the offer period and shall notify the Reinsurer of such acceptance with appropriate written documentation that is mutually acceptable to the Company and Reinsurer. Reporting of these cases will follow the procedures outlined in Schedule D, “Administration Reports”.