Timing of Notice of Denial. Extensions. The Company shall notify the Claimant of denial of benefits in writing or electronically not later than 45 days after receipt of the claim by the Plan. The Company may elect to extend notification by two 30-day periods subject to the following requirements:
(a) For the first 30-day extension, the Company shall notify the Claimant (1) of the necessity of the extension and the factors beyond the Plan's control requiring an extension; (2) prior to the end of the initial 45-day period; and (3) of the date by which the Plan expects to render a decision.
(b) If the Company determines that a second 30-day extension is necessary based on factors beyond the Plan's control, the Company shall follow the same procedure in (a) above, with the exception that the notification must be provided to the Claimant before the end of the first 30-day extension period.
(c) For any extension provided under this section, the Notice of Extension shall specifically explain the standards upon which entitlement to a benefit is based, the unresolved issues that prevent a decision on the claim, and the additional information needed to resolve those issues. The Claimant shall be afforded 45 days within which to provide the specified information.
Timing of Notice of Denial. Extensions. The Bank shall notify the claimant of denial of benefits in writing not later than 45 days after receipt of the claim by the Agreement. The Bank may elect to extend notification by two 30-day periods subject to the following requirements:
(a) For the first 30-day extension, the Bank shall notify the claimant (1) of the necessity of the extension and the factors beyond the Agreement's control requiring an extension; (2) prior to the end of the initial 45-day period; and (3) of the date by which the Agreement expects to render a decision.
(b) If the Bank determines that a second 30-day extension is necessary based on factors beyond the Agreement's control, the Bank shall follow the same procedure in (a) above, with the exception that the notification must be provided to the claimant before the end of the first 30-day extension period.
(c) For any extension provided under this section, the Notice of Extension shall specifically explain the standards upon which entitlement to a benefit is based, the unresolved issues that prevent a decision on the claim, and the additional information needed to resolve those issues. The claimant shall be afforded 45 days within which to provide the specified information.
Timing of Notice of Denial. Extensions. The Bank shall notify the claimant of denial of benefits in writing not later than 45 days after receipt of the claim by the Agreement. The Bank may elect to extend notification by two 30-day periods subject to the following requirements:
(a) For the first 30-day extension, the Bank shall notify the claimant (1) of the necessity of the extension and the factors beyond the
