OPTIONAL EXTENSION PERIOD Sample Clauses

OPTIONAL EXTENSION PERIOD. A. In the event of the termination of this Insurance for any reason except the non-payment of premium, the Named Insured designated in Item 1. of the Declarations shall have the right, upon payment in full and not proportionally or otherwise in part of the percentage shown in Item 7.(a) of the Declarations of the full premium set forth in Item 5. of the Declarations, to have issued an endorsement providing an Optional Extension Period for the period of time set forth in Item 7.(b) of the Declarations for Claims first made against any Insured and reported to the Underwriters during the Optional Extension Period, and arising out of any act, error or omission committed on or after the Retroactive Date and before the end of the Policy Period, subject to the conditions set forth herein. In order for the Named Insured to invoke the Optional Extension Period option, the payment of the additional premium for the Optional Extension Period must be paid to the Underwriters within thirty (30) days of the termination of this Insurance. If notice of election of the Optional Extension Period and full premium payment is not given to the Underwriters within such thirty (30) day period, there shall be no right to purchase the Optional Extension Period.
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OPTIONAL EXTENSION PERIOD. Upon non-renewal or cancellation of this Policy for any reason except the non-payment of premium, the Named Insured will have the right to purchase, for additional premium in the amount of the Optional Extension Premium percentage listed in the Declarations of the full Policy Premium listed in the Declarations, an Optional Extension Period for the period of time listed in the Declarations. Coverage provided by such Optional Extension Period will only apply to Claims first made against any Insured during the Optional Extension Period and reported to the Underwriters during the Optional Extension Period, and arising out of any act, error or omission committed before the end of the Policy Period. In order for the Named Insured to invoke the Optional Extension Period option, the payment of the additional premium for the Optional Extension Period must be paid to the Underwriters within 60 days of the termination of this Policy. The purchase of the Optional Extension Period will in no way increase the Policy Aggregate Limit of Liability or any sublimit of liability. At the commencement of the Optional Extension Period the entire premium will be deemed earned, and in the event the Named Insured terminates the Optional Extension Period for any reason prior to its natural expiration, the Underwriters will not be liable to return any premium paid for the Optional Extension Period. All notices and premium payments with respect to the Optional Extension Period option will be directed to the Underwriters through entity listed for Administrative Notice in the Declarations.
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OPTIONAL EXTENSION PERIOD. A. With respect to Insuring Agreements I.A. and I.C., in the event of the termination of this Insurance for any reason except the non-payment of premium, the Named Insured designated in Item 1. of the Declarations shall have the right, upon payment in full and not proportionally or otherwise in part of the percentage shown in Item 8.A. of the full Premium set forth below, to have issued an endorsement providing an Optional Extension Period for the period of time set forth in Item 8.B. of the Declarations for Claims first made against any Insured and reported to the Underwriters during the Optional Extension Period, and arising out of any act, error or omission committed on or after the Retroactive Date and before the end of the Policy Period, subject to the conditions set forth herein. In order for the Named Insured to invoke the Optional Extension Period option, the payment of the additional premium for the Optional Extension Period must be paid to Underwriters within thirty (30) days of the termination of this insurance.
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OPTIONAL EXTENSION PERIOD. (a) Premium for Optional Extension Period: 100% of the premium for the Policy (b) Length of Optional Extension Period: 12 Months
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OPTIONAL EXTENSION PERIOD. In the event i) there is no Business Combination during the Coverage Guidelines Period and ii) the Company elects to liquidate and to return funds to shareholders, then the Parent Company shall have the right, upon payment of an additional premium shown in Item H.1. of the Declarations, to an extension of the coverage granted by these Coverage Guidelines with respect to:
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OPTIONAL EXTENSION PERIOD. A. Premium for Optional Extension Period:
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OPTIONAL EXTENSION PERIOD. Subject to Section 2.8 and Section 3.2, as long as no Event of Default has occurred and is continuing, and as long as no Mandatory Trigger Event has occurred and no Mandatory Extension Period caused thereby is continuing, the Company shall have the right at any time and from time to time, to defer payments of interest on the Debentures by extending the Interest Payment Period on the Debentures for a period not exceeding ten years, in the aggregate, following the Interest Payment Date on which interest was deferred (an “OPTIONAL EXTENSION PERIOD”). During an Optional Extension Period Deferred Interest on the Debentures shall not be due and payable but will continue to accrue and compound semi-annually or quarterly, as applicable, to the extent permitted by applicable law, at the then applicable rate of interest on the Debentures; provided that no such Optional Extension Period may end on a date other than an Interest Payment Date or extend beyond the Redemption Date or the Stated Maturity of the Debentures or, if the maturity of the Debentures is extended pursuant to Section 2.2, the Final Maturity of the Debentures.
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OPTIONAL EXTENSION PERIOD. The optional extension period shall commence on January 1, 2021 and shall continue in full force and effect through June 30, 2021, unless earlier terminated or extended.”
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OPTIONAL EXTENSION PERIOD. A. In the event The Firm purchases Extended Reporting Coverage for its Excess Plan, as provided for in Section XIV of the Excess Plan, The Firm will also be provided a corresponding Optional Extension Period under this Endorsement. If such Optional Extension Period is provided, then the time period for Claims to be made and reported to the PLF and Xxxxxxx Group will be extended by the same Extended Reporting Coverage Period purchased in the Extended Reporting Coverage; provided that such Claims must arise out of acts, errors or omissions committed on or after the Endorsement Retroactive Date and before the end of the Coverage Period.
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Related to OPTIONAL EXTENSION PERIOD

  • Extension Option The Borrower may request that the Commitments be extended for up to two additional one year periods by providing not less than 30 days’ written notice (the date of such notice, a “Notice Date”) to the Administrative Agent prior to any anniversary of the Closing Date. If a Bank agrees, in its individual and sole discretion (and with the approval of the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned), to extend its Commitment (such Bank, an “Extending Bank”), it will notify the Administrative Agent, in writing, of its decision to do so no later than 15 days after the applicable Notice Date (such extension decision, a “Commitment Extension”). The Administrative Agent will notify the Borrower, in writing, of the Banks’ decisions promptly upon receipt thereof and in any event not later than one (1) Business Day after receipt thereof. The Extending Banks’ Commitments will be extended for an additional year from the then current Maturity Date so long as (i) the Commitments of the Extending Banks (after giving effect to any assumption by any Extending Banks of Commitments of Declining Banks as described below), together with the Commitments of any New Banks that replace any Declining Banks, represent more than 50% of the Total Commitments then in effect, and (ii) on the date of any request by the Borrower to extend the Commitments, the applicable conditions set forth in Section 5.3 shall be satisfied. No Commitment Extension shall result in the then-existing Maturity Date being more than five (5) years from the effective date of such Commitment Extension. No Bank shall be required to consent to any such extension request or be required to increase its Commitment. The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension. The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned. The Borrower may only extend the Maturity Date twice during the term of this Agreement pursuant to this Section 2.7.

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