Common use of Insurance Contract Changes Clause in Contracts

Insurance Contract Changes. Except as directed or consented to in writing by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s capacity as Administrator, the Ceding Company, on its own initiative, shall not (a) amend, waive or change the terms or conditions of any Covered Insurance Policy, other than for any amendment, waiver or change required by the terms of any Covered Insurance Policy, any Governmental Entity or Applicable Law or otherwise permitted by the terms of this Agreement (including Section 2.4). If the Reinsured Liabilities under any of the Covered Insurance Policies are amended, waived or changed (x) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies effected by the Reinsurer acting in its capacity as Administrator or at the direction of or as consented to in writing by the Reinsurer, or (y) required by the terms of any Covered Insurance Policies or by reason of the requirements of any Governmental Entity or Applicable Law or otherwise permitted by the terms of this Agreement (including Section 2.4), the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, and assume all Reinsured Liabilities resulting from such changes. With respect to any amendment, waiver or change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Entity or Applicable Law, the Administrator voluntarily does not implement, the Ceding Company shall promptly notify the Reinsurer of such required amendment, waiver or change and afford the Reinsurer, at the Reinsurer’s expense, the opportunity, to the extent practicable, to object to such amendment, waiver or change under applicable administrative procedures (both formal and informal). In the event the Reinsurer seeks to object as provided in the previous sentence, the Reinsurer shall indemnify and hold the Ceding Company harmless for any Indemnifiable Losses so suffered by the Ceding Company in connection with such administrative procedures or the failure to change such Covered Insurance Policies terms in accordance with Article IX.

Insurance Contract Changes. Except as directed by or consented to in writing by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s capacity as Administrator, the Ceding Company, on its own initiative, shall not (a) amend, waive or change the terms or conditions of any Covered Insurance Policy, other than for any amendment, waiver or change required by the terms of any Covered Insurance PolicyPolicies, any Governmental Entity Body or Applicable Law or otherwise permitted by the terms of this Agreement (including Section 2.42.3). If the Reinsured Liabilities under any of the Covered Insurance Policies are amended, waived or changed (xa) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies effected by the Reinsurer acting in its capacity as Administrator or at the direction of or as consented to in writing by the Reinsurer, Reinsurer or (yb) required by pursuant to the terms of any Covered Insurance Policies or by reason of to comply with the requirements of any Governmental Entity Body or Applicable Law or otherwise permitted by the terms of this Agreement (including Section 2.42.3), the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, and assume and pay one hundred percent (100%) of all Reinsured Liabilities resulting from such changeschange; provided, that any change arising under (a) above must be in compliance with Applicable Law. With respect to any amendment, waiver or change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Entity Body or Applicable Law, which the Administrator Reinsurer is not voluntarily does not implementimplementing, the Ceding Company shall shall, to the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required amendment, waiver or proposed change and afford the Reinsurer, at the Reinsurer’s expense, the opportunity, to the extent practicable, to object to such amendment, waiver or change under applicable administrative procedures (both formal and informal). In the event the Reinsurer seeks to object as provided in the previous sentence, the Reinsurer shall indemnify and hold the Ceding Company harmless for any Indemnifiable Losses so suffered by the Ceding Company in connection with such administrative procedures or the failure to change such Covered Insurance Policies terms in accordance with Article IX.

Insurance Contract Changes. Except as directed by or consented to in writing by the Reinsurer or as performed by the Reinsurer (or its duly appointed assignee or delegatee) acting on behalf of the Ceding Company in the Reinsurer’s capacity as Administrator, the Ceding Company, on its own initiative, shall not (a) amend, waive or change the terms or conditions of any Covered Insurance Policy, other than for any amendment, waiver or change required by the terms of any Covered Insurance PolicyPolicies, any Governmental Entity Body or Applicable Law or otherwise permitted by the terms of this Agreement (including Section 2.4). If the Reinsured Liabilities under any of the Covered Insurance Policies are amended, waived or changed (xa) because of changes made on or after the Effective Time in the terms and conditions of the Covered Insurance Policies effected by the Reinsurer acting in its capacity as Administrator or at the direction of or as consented to in writing by the Reinsurer, Reinsurer or (yb) required by pursuant to the terms of any Covered Insurance Policies or by reason of to comply with the requirements of any Governmental Entity Body or Applicable Law or otherwise permitted by the terms of this Agreement (including Section 2.4), the Reinsurer will participate, on the reinsurance basis set forth in Section 2.1, and assume and pay one hundred percent (100%) of all Reinsured Liabilities resulting from such changeschange; provided, that any change arising under (a) above must be in compliance with Applicable Law. With respect to any amendment, waiver or change that, despite being required by the terms of any Covered Insurance Policies, any Governmental Entity Body or Applicable Law, which the Administrator Reinsurer is not voluntarily does not implementimplementing, the Ceding Company shall shall, to the extent practicable, prior to the effectiveness of any such change, promptly notify the Reinsurer of such required amendment, waiver or proposed change and afford the Reinsurer, at the Reinsurer’s expense, the opportunity, to the extent practicable, to object to such amendment, waiver or change under applicable administrative procedures (both formal and informal). In the event the Reinsurer seeks to object as provided in the previous sentence, the Reinsurer shall indemnify and hold the Ceding Company harmless for any Indemnifiable Losses so suffered by the Ceding Company in connection with such administrative procedures or the failure to change such Covered Insurance Policies terms in accordance with Article IX.