Common use of Continuation of a Triggering Event Clause in Contracts

Continuation of a Triggering Event. For purposes of this Article V, upon the occurrence of any FMV Triggering Event or Recapture Triggering Event, such FMV Triggering Event or Recapture Triggering Event, as applicable, shall be deemed to be continuing unless (a) such FMV Triggering Event or Recapture Triggering Event, as applicable, has been cured and (b) no other FMV Triggering Event or Recapture Triggering Event, as applicable, has occurred for two consecutive calendar quarter ends following such cure.

Appears in 2 contracts

Sources: Coinsurance Agreement (Guardian Separate Account R), Coinsurance and Modified Coinsurance Agreement (Guardian Separate Account D)