Any Late Reported Terminations Sample Clauses
The "Any Late Reported Terminations" clause addresses situations where a party fails to promptly notify the other party of a contract termination. It typically outlines the consequences or procedures that apply if a termination is reported after a specified deadline, such as adjustments to payments, obligations, or rights that would have been affected by timely notice. This clause ensures that both parties are incentivized to communicate terminations promptly, thereby reducing uncertainty and potential disputes over late notifications.
Any Late Reported Terminations. For the purposes of this Article IX, a "Late Reported Termination" is a termination of life reinsurance coverage (other than by death) reported more than two (2) years after the termination date of the covered risk. The Reinsurer will reimburse Reinsurance Premiums on Late Reported Terminations for only the last two (2) years.
Any Late Reported Terminations. For the purposes of this Article IX, a "Late Reported Termination" is a termination of life reinsurance coverage (other than by death) reported more than two (2) years after the termination date of the covered risk. The Reinsurer will reimburse Reinsurance Premiums on Late Reported Terminations for only the last two (2) years. Allocated Retention Pool (Excess Risks) -- Effective October 1, 2008 Between HLAIC and Canada Life
Any Late Reported Terminations. The Reinsurer will not reimburse premiums on Late Reported Terminations. A "Late Reported Termination" for the purposes of this Section means a termination reported more than two (2) years after the termination date of the policy. The Reinsurer will only refund two (2) years' premium. - Policies ceded automatically not in compliance with Section 3, Automatic Reinsurance.