Common use of Automatic Coverage Clause in Contracts

Automatic Coverage. Except as specified in Paragraph 4, whenever the Company retains its maximum limit of retention, as indicated in Schedule 1, the Company shall cede and the Reinsurer shall automatically accept such Life reinsurance as provided herein, on the same terms and for an amount not exceeding [dollar amount].

Automatic Coverage. 2. Except as specified in Paragraph 45, whenever the Company retains its maximum limit of retention, as indicated in Schedule 1I, the Company shall cede and the Reinsurer [name of reinsurance company] shall automatically accept such Life reinsurance as provided hereinherein with a corresponding amount of Waiver of Premium, if any, on the same terms and for an amount not exceeding [dollar amount].the limits specified in Schedule I. Special Automatic Coverage

Automatic Coverage. 2. Except as specified in Paragraph 4, whenever the Company retains its maximum limit of retention, as indicated in Schedule 1I, the Company shall cede and the Reinsurer [name of reinsurance company] shall automatically accept such Life reinsurance as provided hereinherein with a corresponding amount of Waiver of Premium, if any, on the same terms and for an amount not exceeding [dollar amount].one and eighty-nine one hundredths (1.89) times the amount retained by the Company at its own risk. Special Automatic Coverage

Automatic Coverage. 2. Except as specified in Paragraph 45, whenever the Company retains its maximum limit of retention, as indicated in Schedule 1I, the Company shall cede and the Reinsurer [name of reinsurance company] shall automatically accept such Life reinsurance as provided hereinherein with a corresponding amount of waiver of Premium, if any, on the same terms and for an amount not exceeding [dollar amount].the limits shown in Schedule I. Special Automatic Coverage