No Cancellation. 5.2.1 The terms of the Insurance must provide that the Insurance or coverage cannot be cancelled unless: (a) the Firm’s Practice is merged into a Succeeding Practice provided that the Succeeding Practice has Insurance in compliance with the Minimum Terms and Conditions as and to the extent prescribed by the Regulations, or (b) replacement Insurance complying with the Minimum Terms and Conditions as and to the extent prescribed by the Regulations commences (but only where any replacement Insurance is not or would not in the event of cancellation of the original Insurance be provided wholly or partly by the Special Purpose Fund). 5.2.2 The terms of the Insurance must further provide that any cancellation must not prejudice the accrued rights and obligations of the parties thereto as at the effective date of cancellation.
Appears in 8 contracts
Samples: Participating Insurers Agreement, Participating Insurers Agreement, Participating Insurers Agreement
No Cancellation. 5.2.1 The terms of the Insurance must provide that the Insurance or coverage cannot be cancelled unless:
(a) the Firm’s Practice is merged into a Succeeding Practice provided that the Succeeding Practice has Insurance in compliance with the Minimum Terms and Conditions as and to the extent prescribed by the Regulations, ; or
(b) replacement Insurance complying with the Minimum Terms and Conditions as and to the extent prescribed by the Regulations commences (but only where any replacement Insurance is not or would not in the event of cancellation of the original Insurance be provided wholly or partly by the Special Purpose Fund).
5.2.2 The terms of the Insurance must further provide that any cancellation must not prejudice the accrued rights and obligations of the parties thereto as at the effective date of cancellation.
Appears in 3 contracts
Samples: Participating Insurers Agreement, Participating Insurers Agreement, Participating Insurers Agreement
