Common use of TERMINATION OF THIS AGREEMENT FOR NEW BUSINESS Clause in Contracts

TERMINATION OF THIS AGREEMENT FOR NEW BUSINESS. A. Either Party may terminate this Agreement, as it applies to reinsurance of new business being issued by the Ceding Company: 1. immediately upon written notice to the other Party, if that other Party becomes insolvent as described in Article XV; or 2. with one hundred twenty (120) days advance written notice to the other Party; or 3. with sixty (60) days advance written notice to the other Party, if that other Party breaches a material term of this Agreement, unless such breach is substantially cured by the offending Party within such notice period. B. After termination, the Parties shall remain liable under the terms of this Agreement for: 1. reinsurance of policies that becomes effective prior to termination of this Agreement; 2. reinsurance of policies with an application date on or before the effective date of termination; and 3. reinsurance that becomes effective as a result of coverage changes described in Article X, with the exception of fully underwritten increases subject to Section X.B.1. C. The Ceding Company shall continue to cede, and the Reinsurer shall continue to accept, any new business issued prior to the termination of this Agreement.

TERMINATION OF THIS AGREEMENT FOR NEW BUSINESS. A. Either Party may terminate this Agreement, as it applies to reinsurance of new business being issued by the Ceding Company: (1. ) immediately upon written notice to the other Party, if that other Party becomes insolvent as described in Article XV; or (2. ) with one hundred twenty (120) days advance written notice to the other Party; or (3. ) with sixty (60) days advance written notice to the other Party, if that other Party breaches a material term of this Agreement, unless such breach is substantially cured by the offending Party within such notice period. B. After termination, the Parties shall remain liable under the terms of this Agreement for: (1. ) reinsurance of policies that becomes effective prior to termination of this Agreement; (2. ) reinsurance of policies with an application date on or before the effective date of termination; and (3. ) reinsurance that becomes effective as a result of coverage changes described in Article X, with the exception of fully underwritten increases subject to Section X.B.1. C. The Ceding Company shall continue to cede, and the Reinsurer shall continue to accept, any new business issued prior to the termination of this Agreement.

TERMINATION OF THIS AGREEMENT FOR NEW BUSINESS. A. Either Party may terminate this terxxxxxx xxxs Agreement, as it applies to reinsurance of new business being issued by the Ceding Company: (1. ) immediately upon written notice to the other Party, if that other Party becomes insolvent as described in Article XV; or (2. ) with one hundred twenty (120) days advance written notice to the other Party; or (3. ) with sixty (60) days advance written notice to the other Party, if that other Party breaches a material term of this Agreement, unless such breach is substantially cured by the offending Party within such notice period. B. After termination, the Parties shall remain liable under the terms of this Agreement for: (1. ) reinsurance of policies that becomes effective prior to termination of this Agreement; (2. ) reinsurance of policies with an application date on or before the effective date of termination; and (3. ) reinsurance that becomes effective as a result of coverage changes described in Article X, with the exception of fully underwritten increases subject to Section X.B.1. C. The Ceding Company shall continue to cede, and the Reinsurer shall continue to accept, any new business issued prior to the termination of this Agreement.

TERMINATION OF THIS AGREEMENT FOR NEW BUSINESS. A. Either Party may terminate this termxxxxx xxxs Agreement, as it applies to reinsurance of new business being issued by the Ceding Company: 1. immediately upon written notice to the other Party, if that other Party becomes insolvent as described in Article XV; or 2. with one hundred twenty (120) days advance written notice to the other Party; or 3. with sixty (60) days advance written notice to the other Party, if that other Party breaches a material term of this Agreement, unless such breach is substantially cured by the offending Party within such notice period. B. After termination, the Parties shall remain liable under the terms of this Agreement for: 1. reinsurance of policies that becomes effective prior to termination of this Agreement; 2. reinsurance of policies with an application date on or before the effective date of termination; and 3. reinsurance that becomes effective as a result of coverage changes described in Article X, with the exception of fully underwritten increases subject to Section X.B.1. C. The Ceding Company shall continue to cede, and the Reinsurer shall continue to accept, any new business issued prior to the termination of this Agreement.