Common use of FACULTATIVE PROVISIONS Clause in Contracts

FACULTATIVE PROVISIONS. The CEDING COMPANY will have the option to submit any risk facultatively which it does not wish to cede automatically or which it may not cede automatically under the provisions of Article 1. The CEDING COMPANY will send copies of all information pertinent to the insurability of the risk. The CEDING COMPANY will also notify the REINSURER of any additional information requested or received after the initial request for reinsurance is made. The REINSURER will complete a Case Data Form (Exhibit G) and return it to the CEDING COMPANY to indicate its acceptance or rejection of participation. Unless otherwise provided herein, the REINSURER's offer on facultative submissions will expire after one hundred twenty (120) days have elapsed from the date of the REINSURER's offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the CEDING COMPANY must occur within one hundred twenty (120) days of the final reinsurance offer. Unless the REINSURER explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day one hundred twenty (120). The REINSURER will not be liable for proceeds paid under the CEDING COMPANY'S conditional receipt or temporary insurance agreement for risks submitted on a facultative basis.

FACULTATIVE PROVISIONS. The CEDING COMPANY will have the option to submit any risk group facultatively which it does not wish to cede automatically or which it may not cede automatically under the provisions of Article 1. I. The CEDING COMPANY will send copies of all information pertinent to the insurability of the risk. The CEDING COMPANY will also notify the REINSURER of any additional information requested or received after the initial request for reinsurance is made. For policies which contain automatic increase provisions, the CEDING COMPANY will inform the REINSURER of the initial and ultimate risk amounts for which reinsurance is being requested. The REINSURER will complete a Case Data Form (Exhibit GH) and return it to the CEDING COMPANY to indicate its acceptance or rejection of participation. On a timely basis, the REINSURER will submit a written decision. Unless otherwise provided herein, the REINSURER's offer on facultative submissions will expire after one hundred twenty (120) 120 days have elapsed from the date of the REINSURER's offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the CEDING COMPANY must occur within one hundred twenty (120) 120 days of the final reinsurance offer. Unless the REINSURER explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day one hundred twenty (120). The REINSURER will not be liable for proceeds paid under the CEDING COMPANY'S conditional receipt or temporary insurance agreement for risks submitted on a facultative basis.

FACULTATIVE PROVISIONS. A. The CEDING COMPANY will have the option to submit any risk case facultatively which it does not wish to cede automatically or which it may not cede automatically under the provisions of Article 1. I. B. The CEDING COMPANY will send copies of the original applications, all medical reports, inspection reports, attending physician's statement and any additional information pertinent to the insurability of the risk. . C. The CEDING COMPANY will also notify the REINSURER of any additional underwriting information requested or received after the initial request for reinsurance is made. The REINSURER will complete a Case Data Form (Exhibit G) and return it to For policies which contain automatic increase provisions, the CEDING COMPANY to indicate its acceptance or rejection will inform the REINSURER of participation. Unless otherwise provided hereinthe initial and ultimate risk amounts for which reinsurance is being requested. D. On a timely basis, the REINSURER will submit a written decision. In no case will the REINSURER's 'S offer on facultative submissions will expire be open after one one-hundred twenty (120) days have elapsed from the date of the REINSURER's 'S offer to participate in the risk. Acceptance of the offer and delivery of the policy Policy according to the rules of the CEDING COMPANY must occur within one one-hundred twenty (120) days of the final reinsurance offer. Unless the REINSURER explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day one hundred twenty (120). . E. The REINSURER will not be liable for proceeds paid under the CEDING COMPANY'S conditional receipt or temporary insurance agreement for risks submitted on a facultative basis.

FACULTATIVE PROVISIONS. A. The CEDING COMPANY will have the option to submit any risk case facultatively which it does not wish to cede automatically or which it may not cede automatically under the provisions of Article 1. I. B. The CEDING COMPANY will send copies of the original applications, all medical reports, inspection reports, attending physician's statement and any additional information pertinent to the insurability of the risk. . C. The CEDING COMPANY will also notify the REINSURER of any additional underwriting information requested or received after the initial request for reinsurance is made. The REINSURER will complete a Case Data Form (Exhibit G) and return it to For policies, which contain automatic increase provisions, the CEDING COMPANY to indicate its acceptance or rejection will inform the REINSURER of participation. Unless otherwise provided hereinthe initial and ultimate risk amounts for which reinsurance is being requested. D. On a timely basis, the REINSURER will submit a written decision. In no case will the REINSURER's 'S offer on facultative submissions will expire be open after one hundred twenty (120) 120 days have elapsed from the date of the REINSURER's 'S offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the CEDING COMPANY must occur within one hundred twenty (120) 120 days of the final reinsurance offer. Unless the REINSURER explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day one hundred twenty (120). . E. The REINSURER will not be liable for proceeds paid under the CEDING COMPANY'S conditional receipt or temporary insurance agreement for risks submitted on a facultative basis.