Common use of Group Insurance Policies Clause in Contracts

Group Insurance Policies. (i) Unless otherwise requested by Holdings, Continental and Holdings shall use commercially reasonable efforts to cause each Group Insurance Policy that is entered into or renewed on or after the IPO Date and prior to any date determined by Continental in its sole discretion to provide that Holdings shall be eligible for a mirror policy with substantially the same terms and conditions as are contained in the Group Insurance Policy which Continental has obtained. Such terms and conditions shall include the financial and termination provisions, performance standards and target claims. (ii) To the extent Continental and Holdings are not successful in negotiating policy provisions that will permit compliance with foregoing paragraph and to the extent that a Group Insurance Policy is not addressed in such paragraph, Holdings shall be responsible for procuring its own Group Insurance Policies effective on or before the IPO Date.

Group Insurance Policies. (i) Unless otherwise requested by Holdings, Continental and Holdings shall use commercially reasonable efforts to cause each Group Insurance Policy that is entered into or renewed on or after the IPO Date and prior to any date determined by Continental in its sole discretion but before the Independence Date to provide that Holdings shall be eligible for a mirror policy effective as of the Independence Date with substantially the same terms and conditions as are contained in the Group Insurance Policy which Continental has obtained. Such terms and conditions shall include the financial and termination provisions, performance standards and target claims. (ii) To the extent Continental and Holdings are not successful in negotiating policy provisions that will permit compliance with foregoing paragraph and to the extent that a Group Insurance Policy is not addressed in such paragraph, Holdings shall be responsible for procuring its own Group Insurance Policies effective on or before the IPO Independence Date.