Common use of Extended Reporting Period Clause in Contracts

Extended Reporting Period. If this Policy is non-renewed by the Underwriters, the Insured shall have the right to: (a) an automatic Extended Reporting Period of sixty (60) days, commencing on the Expiration Date set forth in Item 2B of the Schedule; and (b) purchase an Extended Reporting Period of twelve (12) months, commencing upon the expiration of the automatic Extended Reporting Period. The Insured’s right to purchase an Extended Reporting Period as described in part (b) above shall lapse unless written notice of election to purchase such Extended Reporting Period and the applicable additional premium is received by the Underwriters within sixty (60) days after the Expiration Date set forth in Item 2B of the Schedule. The Insured shall not have any right to purchase an Extended Reporting Period as described in part (b) above in the event of a Change in Control as described in Section 6.14. The additional premium for an Extended Reporting Period as described in part (b) above shall be seventy-five percent (75%) of the last annual premium paid to the Underwriters for this Policy. Such premium shall be fully earned at the inception of such Extended Reporting Period. During any Extended Reporting Period, the Insured may provide the Underwriters with notice of any Claim covered under Coverage Section 1 and first made against an Insured during the Extended Reporting Period. Any Extended Reporting Period provided under this Policy: (a) shall not increase or reinstate any Limit of Liability; and (b) is non-cancellable. This Automatic Extension shall apply solely to Coverage Section 1.

Extended Reporting Period. 4.8.1 If this Policy is non-renewed by the Underwriters, the Insured shall have the right to: (a) an automatic Extended Reporting Period of sixty (60) days, commencing on the Expiration Date set forth in Item 2B of the Schedule; and (b) to purchase an Extended Reporting Period of twelve (12) months, commencing upon the expiration of the automatic Extended Reporting Period. . 4.8.2 The Insured’s right to purchase an Extended Reporting Period as described in part (b) above shall lapse unless written notice of election to purchase such Extended Reporting Period and the applicable additional premium is received by the Underwriters within sixty (60) days after the Expiration Date set forth in Item 2B non-renewal of the Schedulethis Policy. The Insured shall not have any right to purchase an Extended Reporting Period as described in part (b) above in the event of a Change in Control as described in Section 6.14. 4.10. 4.8.3 The additional premium for an Extended Reporting Period as described in part (b) above shall be seventy-five percent (75%) determined by multiplying the percentage set forth in Item 8 of the last annual premium paid to Schedule by the Underwriters for this PolicyPremium set forth in Item 14 of the Schedule. Such premium shall be fully earned at the inception of such the Extended Reporting Period. . 4.8.4 During any the Extended Reporting Period, the Insured may provide the Underwriters with notice notice, pursuant to Section 4.7, of any Claim covered under Coverage Section 1 and first made against an Insured during the Extended Reporting Period. Any , for any Wrongful Act occurring prior to the effective date of the non-renewal of this Policy. 4.8.5 The Extended Reporting Period provided under this Policy: (a) shall not increase or reinstate any Limit of LiabilityLiability or Sublimit of Liability of this Policy; and (b) is non-cancellable. This Automatic Extension shall apply solely to Coverage Section 1.

Extended Reporting Period. If this Policy is non-renewed by the UnderwritersUnderwriters or the Insured, the Insured shall have the right to: (a) an automatic Extended Reporting Period of sixty (60) days, commencing on the Expiration Expiry Date set forth in Item 2B of the Schedule; and (b) purchase an Extended Reporting Period of twelve (12) months, commencing upon the expiration of the automatic Extended Reporting Period. The Insured’s right to purchase an Extended Reporting Period as described in part (b) above shall lapse unless written notice of election to purchase such Extended Reporting Period and the applicable additional premium is received by the Underwriters within sixty (60) days after the Expiration Expiry Date set forth in Item 2B of the Schedule. The Insured shall not have any right to purchase an Extended Reporting Period as described in part (b) above in the event of a Change in Control as described in Section 6.145.13. The additional premium for an Extended Reporting Period as described in part (b) above shall be seventy-five percent (75%) of the last annual premium paid to the Underwriters for this Policy. Such premium shall be fully earned at the inception of such Extended Reporting Period. During any Extended Reporting Period, the Insured may provide the Underwriters with notice of any Claim covered under Coverage Section 1 and first made against an Insured during the Extended Reporting Period. Any Extended Reporting Period provided under this Policy: (a) shall not increase or reinstate any Limit of Liability; and , (b) is non-cancellable. This Automatic Extension ; and (c) shall not apply solely to Coverage Section 1if this Policy or its cover has been replaced.

Extended Reporting Period. (A) If this Policy policy is cancelled or non-renewed by the Underwritersfor any reason other than non-payment of premium, the Insured Insureds shall have the right to: to elect an extension of time to report Claims (a) an automatic Extended Reporting Period of sixty (60) days, commencing on the Expiration Date set forth in Item 2B of the Schedule; and (b) purchase an Extended Reporting Period of twelve (12) months, commencing upon the expiration of the automatic “Extended Reporting Period. The Insured’s right to purchase an ”). (B) To elect the Extended Reporting Period as described in part (b) above Period, the Insureds shall lapse unless send a written notice of election to purchase such of the Extended Reporting Period to the Insurer together with the premium therefore. The right to elect the Extended Reporting Period shall end unless the Insurer receives such notice and the applicable additional premium is received by the Underwriters within sixty (60) days after the Expiration Date set forth in Item 2B of the Schedulecancellation or non-renewal. The Insured There shall not have any be no right to purchase an elect the Extended Reporting Period as described in part after such time. (bC) above in the event of a Change in Control as described in Section 6.14. The additional premium for an the Extended Reporting Period as described in part (b) above shall be seventy-five percent (75%) that percentage specified in ITEM 7 of the last Declarations of the sum of the original annual premium paid to plus the Underwriters for this Policyannualized amount of any additional premium charged by the Insurer during the Policy Period. Such premium shall be deemed fully earned at the inception of such the Extended Reporting Period. (D) The Extended Reporting Period shall be for the duration specified in ITEM 7 of the Declarations following the end of the Policy Period. (E) Coverage during the Extended Reporting Period shall apply to Claims made for Wrongful Acts occurring prior to the earlier of the end of the Policy Period or the time of any transaction described in Section XV. During CHANGES IN EXPOSURE, (B) Takeover of Named Entity. No coverage shall apply for any Wrongful Act occurring after such time. (F) There is no separate or additional Limit of Liability for any Extended Reporting Period, the Insured may provide the Underwriters with notice of any Claim covered under Coverage Section 1 and first made against an Insured during the Extended Reporting Period. Any Extended Reporting Period provided under this Policy: (a) shall not increase or reinstate any Limit of Liability; and (b) is non-cancellable. This Automatic Extension shall apply solely to Coverage Section 1.

Extended Reporting Period. If this Policy is non-renewed by the UnderwritersUnderwriters or Insured, the Insured shall have the right to: (a) an automatic Extended Reporting Period of sixty (60) days, commencing on the Expiration Date set forth in Item 2B of the Schedule; and (b) purchase an Extended Reporting Period of twelve (12) months, commencing upon the expiration of the automatic Extended Reporting Period. The Insured’s right to purchase an Extended Reporting Period as described in part (b) above shall lapse unless written notice of election to purchase such Extended Reporting Period and the applicable additional premium is received by the Underwriters within sixty (60) days after the Expiration Date set forth in Item 2B of the Schedule. The Insured shall not have any right to purchase an Extended Reporting Period as described in part (b) above in the event of a Change in Control as described in Section 6.146.13. The additional premium for an Extended Reporting Period as described in part (b) above shall be seventy-five percent (75%) of the last annual premium paid to the Underwriters for this Policy. Such premium shall be fully earned at the inception of such Extended Reporting Period. During any Extended Reporting Period, the Insured may provide the Underwriters with notice of any Claim covered under Coverage Section 1 and Section 2 and first made against an Insured during the Extended Reporting Period. Any Extended Reporting Period provided under this Policy: (a) shall not increase or reinstate any Limit of Liability; and (b) is non-cancellable. This Automatic Extension ; and (c) shall not apply solely to Coverage Section 1if this Policy or its cover has been replaced.