Common use of Automatic Coverage Clause in Contracts

Automatic Coverage. Except as specified in Paragraph 5, whenever the Company retains its maximum limit of retention, as indicated in Schedule I, the Company shall cede and the [name of reinsurance company] shall automatically accept such Life reinsurance as provided herein with a corresponding amount of Waiver of Premium, if any, on the same terms and for an amount not exceeding the limits specified in Schedule I. Special Automatic Coverage

Automatic Coverage. Except as specified in Paragraph 54, whenever the Company retains its maximum limit of retention, as indicated in Schedule I1, the Company shall cede and the [name of reinsurance company] Reinsurer shall automatically accept such Life reinsurance as provided herein with a corresponding amount of Waiver of Premium, if anyherein, on the same terms and for an amount not exceeding the limits specified in Schedule I. Special Automatic Coverage[dollar amount].

Automatic Coverage. Except as specified in Paragraph 54, whenever the Company retains its maximum limit of retention, as indicated in Schedule I, the Company shall cede and the [name of reinsurance company] shall automatically accept such Life reinsurance as provided herein with a corresponding amount of Waiver of Premium, if any, on the same terms and for an amount not exceeding one and eighty-nine one hundredths (1.89) times the limits specified in Schedule I. amount retained by the Company at its own risk. Special Automatic Coverage

Automatic Coverage. Except as specified in Paragraph 5, whenever the Company retains its maximum limit of retention, as indicated in Schedule I, the Company shall cede and the [name of reinsurance company] shall automatically accept such Life reinsurance as provided herein with a corresponding amount of Waiver waiver of Premium, if any, on the same terms and for an amount not exceeding the limits specified shown in Schedule I. Special Automatic Coverage