Common use of Extended Reporting Period Clause in Contracts

Extended Reporting Period. If any liability insurance policy procured pursuant to Section 1.6 is on a "claims made" rather than "occurrence" basis, then such policy shall include an option to purchase a "tail" or an extended reporting period, which option shall be exercisable upon termination or cancellation of said policy or upon any material modification of said policy that has the effect of causing the coverage of said policy to fail, in any respect, to meet the requirements of Section 1.6, regardless of whether such termination, cancellation or modification shall occur during the term hereof or thereafter. The tail or extended reporting period shall provide coverage meeting all of the requirements set forth in Section 1.6, for a period of at least seven (7) years after termination, cancellation or modification of the underlying policy. Such policy shall provide that the carrier shall give Hospital or Manger at least thirty (30) calendar days advance written notice of the date upon which the option may be exercised regardless of whether such date shall occur during the term hereof or thereafter and shall specifically provide that Hospital shall be permitted to exercise the option upon failure of Manager to do so. Upon such notice, Manager shall take all steps, including but not limited to the payment of money, necessary to exercise such option, and if Manager shall fail to effectively exercise such option, then Hospital may do so and Manager shall fully and immediately reimburse Hospital, within ten (10) calendar days notice thereof by Hospital, for all monies expended by Hospital in connection therewith. The provisions of this Section 1.6.3 survive the expiration or earlier termination of this Agreement.

Extended Reporting Period. If any liability insurance policy procured pursuant to Section 1.6 3.10 is on a "claims made" rather than "occurrence" basis, then such policy shall include an option to purchase a "tail" or an extended reporting period, which option shall be exercisable upon termination or cancellation of said policy or upon any material modification of said policy that has the effect of causing the coverage of said policy to fail, in any respect, to meet the requirements of Section 1.63.10, regardless of whether such termination, cancellation or modification shall occur during the term hereof or thereafter. The tail or extended reporting period shall provide coverage meeting all of the requirements set forth in Section 1.63.10, for a period of at least seven (7) years after termination, cancellation or modification of the underlying policy. Such policy shall provide that the carrier shall give Hospital CMHC or Manger at least Manager thirty (30) calendar days advance written notice of the date upon which the option may be exercised regardless of whether such date shall occur during the term hereof or thereafter and shall specifically provide that Hospital Manager shall be permitted to exercise the option upon the failure of Manager CMHC to do so. Upon such notice, Manager CMHC shall take all steps, including but not limited to the payment of money, necessary to exercise such option, and if Manager CMHC shall fail to effectively exercise such option, then Hospital Manager may do so so, and Manager CMHC shall fully and immediately reimburse HospitalManager, within ten (10) calendar days notice thereof by HospitalManager, for all monies expended by Hospital Manager in connection therewith. The provisions of this Section 1.6.3 survive the expiration or earlier termination of this Agreement.

Extended Reporting Period. If any liability insurance policy procured pursuant to Section 1.6 3.9 is on a "claims made" rather than "occurrence" basis, then such policy shall include an option to purchase a "tail" or an extended reporting period, which option shall be exercisable upon termination or cancellation of said policy or upon any material modification of said policy that has the effect of causing the coverage of said policy to fail, in any respect, to meet the requirements of Section 1.63.9, regardless of whether such termination, cancellation or modification shall occur during the term hereof or thereafter. The tail or extended reporting period shall provide coverage meeting all of the requirements set forth in Section 1.63.9, for a period of at least seven (7) years after termination, cancellation or modification of the underlying policy. Such policy shall provide that the carrier shall give Hospital CMHC or Manger at least Manager thirty (30) calendar days advance written notice of the date upon which the option may be exercised regardless of whether such date shall occur during the term hereof or thereafter and shall specifically provide that Hospital Manager shall be permitted to exercise the option upon the failure of Manager CMHC to do so. Upon such notice, Manager CMHC shall take all steps, including but not limited to the payment of money, necessary to exercise such option, and if Manager CMHC shall fail to effectively exercise such option, then Hospital Manager may do so so, and Manager CMHC shall fully and immediately reimburse HospitalManager, within ten (10) calendar days notice thereof by HospitalManager, for all monies expended by Hospital Manager in connection therewith. The provisions of this Section 1.6.3 survive the expiration or earlier termination of this Agreement.

Extended Reporting Period. If any liability insurance policy procured pursuant to Section 1.6 4.6 is on a "claims made" rather than "occurrence" basis, then such policy shall include an option to purchase a "tail" or an extended reporting period, which option shall be exercisable upon termination or cancellation of said policy or upon any material modification of said policy that has the effect of causing the coverage of said policy to fail, in any respect, to meet the requirements of Section 1.64.6, regardless of whether such termination, cancellation or modification shall occur during the term hereof or thereafter. The tail or extended reporting period shall provide coverage meeting all of the requirements set forth in Section 1.64.6, for a period of at least seven (7) years after termination, cancellation or modification of the underlying policy. Such policy shall provide that the carrier shall give Hospital or Manger at least Manager thirty (30) calendar days advance written notice of the date upon which the option may be exercised regardless of whether such date shall occur during the term hereof or thereafter and shall specifically provide that Hospital shall be permitted to exercise the option upon the failure of Manager to do so. Upon such notice, Manager shall take all steps, including but not limited to the payment of money, necessary to exercise such option, and if Manager shall fail to effectively exercise such option, then Hospital may do so so, and Manager shall fully and immediately reimburse Hospital, within ten (10) calendar days notice thereof by Hospital, for all monies expended by Hospital in connection therewith. The provisions of this Section 1.6.3 survive the expiration or earlier termination of this Agreement.

Extended Reporting Period. If any liability insurance policy procured pursuant to Section 1.6 3.10 is on a "claims made" rather than "occurrence" basis, then such policy shall include an option to purchase a "tail" or an extended reporting period, which option shall be exercisable upon termination or cancellation of said policy or upon any material modification of said policy that has the effect of causing the coverage of said policy to fail, in any respect, to meet the requirements of Section 1.63.10, regardless of whether such termination, cancellation or modification shall occur during the term hereof or thereafter. The tail or extended reporting period shall provide coverage meeting all of the requirements set forth in Section 1.63.10, for a period of at least seven (7) years after termination, cancellation or modification of the underlying policy. Such policy shall provide that the carrier shall give Hospital or Manger at least Manager thirty (30) calendar days advance written notice of the date upon which the option may be exercised regardless of whether such date shall occur during the term hereof or thereafter and shall specifically provide that Hospital Manager shall be permitted to exercise the option upon the failure of Manager Hospital to do so. Upon such notice, Manager Hospital shall take all steps, including but not limited to the payment of money, necessary to exercise such option, and if Manager Hospital shall fail to effectively exercise such option, then Hospital Manager may do so so, and Manager Hospital shall fully and immediately reimburse HospitalManager, within ten (10) calendar days notice thereof by HospitalManager, for all monies expended by Hospital Manager in connection therewith. The provisions of this Section 1.6.3 survive the expiration or earlier termination of this Agreement.

Extended Reporting Period. If any liability insurance policy procured pursuant to Section 1.6 4.6 is on a "claims made" rather than "occurrence" basis, then such policy shall include an option to purchase a "tail" or an extended reporting period, which option shall be exercisable upon termination or cancellation of said policy or upon any material modification of said policy that has the effect of causing the coverage of said policy to fail, in any respect, to meet the requirements of Section 1.64.6, regardless of whether such termination, cancellation or modification shall occur during the term hereof or thereafter. The tail or extended reporting period shall provide coverage meeting all of the requirements set forth in Section 1.64.6, for a period of at least seven (7) years after termination, cancellation or modification of the underlying policy. Such policy shall provide that the carrier shall give Hospital CMHC or Manger at least Manager thirty (30) calendar days advance written notice of the date upon which the option may be exercised regardless of whether such date shall occur during the term hereof or thereafter and shall specifically provide that Hospital CMHC shall be permitted to exercise the option upon the failure of Manager to do so. Upon such notice, Manager shall take all steps, including but not limited to the payment of money, necessary to exercise such option, and if Manager shall fail to effectively exercise such option, then Hospital CMHC may do so so, and Manager shall fully and immediately reimburse HospitalCMHC, within ten (10) calendar days notice thereof by HospitalCMHC, for all monies expended by Hospital CMHC in connection therewith. The provisions of this Section 1.6.3 survive the expiration or earlier termination of this Agreement.