Common use of Conditional Coverage Clause in Contracts

Conditional Coverage. Subject to the provisions of this Article III, Generali USA will provide the limited indemnity reinsurance coverage in an instance where "conditional receipt" coverage, temporary insurance coverage or other similar coverage ("Conditional Coverage") is made available to the Ceding Company's applicant (the "Applicant") prior to the issuance of a Reinsured Policy during the lifetime of the applicant, subject to the following conditions. 1. Subject to the "Coverage Limits", the amount of coverage will be equal to Generali USA's proportionate share of the coverage amount stated on the conditional receipt or for the temporary coverage.