FACULTATIVE PROVISIONS Sample Clauses

FACULTATIVE PROVISIONS. The Ceding Company will send copies of the original applications, all medical reports, inspection reports, attending physician’s statement, and any additional information pertinent to the insurability of the risk to the Reinsurer. The Ceding Company will also notify the Reinsurer of any underwriting information requested or received after the initial request for reinsurance is made. For policies which contain automatic increase provisions, the Ceding Company will inform the Reinsurer of the initial and ultimate risk amounts for which reinsurance is being requested, or in the case of indexed amounts, the basis of the indexing. On a timely basis, the Reinsurer will submit a written decision to the Ceding Company. In no case will the Reinsurer’s offer on facultative submissions be open after 120 days have elapsed from the date of the Reinsurer’s offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the Ceding Company must occur within 120 days of the final reinsurance offer. Unless the Reinsurer explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day 120. The Reinsurer will not be liable for proceeds paid under the Ceding Company’s conditional receipt or temporary insurance agreement for risks submitted on a facultative basis.

FACULTATIVE PROVISIONS. The CEDING COMPANY will have the option to submit any group facultatively which it does not wish to cede automatically or which it may not cede automatically under the provisions of Article I. The CEDING COMPANY will send copies of all information pertinent to the insurability of the risk. The CEDING COMPANY will also notify the REINSURER of any additional information requested or received after the initial request for reinsurance is made. For policies which contain automatic increase provisions, the CEDING COMPANY will inform the REINSURER of the initial and ultimate risk amounts for which reinsurance is being requested. The REINSURER will complete a Case Data Form (Exhibit H) and return it to the CEDING COMPANY to indicate its acceptance or rejection of participation. On a timely basis, the REINSURER will submit a written decision. Unless otherwise provided herein, the REINSURER's offer on facultative submissions will expire after 120 days have elapsed from the date of the REINSURER's offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the CEDING COMPANY must occur within 120 days of the final reinsurance offer. Unless the REINSURER explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day 120. The REINSURER will not be liable for proceeds paid under the CEDING COMPANY'S conditional receipt or temporary insurance agreement for risks submitted on a facultative basis.

FACULTATIVE PROVISIONS. A. The CEDING COMPANY will have the option to submit any case facultatively which it does not wish to cede automatically or which it may not cede automatically under the provisions of Article I. B. The CEDING COMPANY will send copies of the original applications, all medical reports, inspection reports, attending physician's statement and any additional information pertinent to the insurability of the risk. C. The CEDING COMPANY will also notify [name of reinsurance company] of any underwriting information requested or received after the initial request for reinsurance is made. D. On a timely basis, [name of reinsurance company] will submit a written decision. In no case will [name of reinsurance company]'s offer on facultative submissions be open after 120 days have elapsed from the date of [name of reinsurance company]'s offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the CEDING COMPANY must occur within 120 days of the final reinsurance offer. Unless [name of reinsurance company] explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day 120. E. Prior to acceptance by the CEDING COMPANY of an unconditional offer made by [name of reinsurance company], [name of reinsurance company] will not be liable for proceeds paid under the CEDING COMPANY'S conditional receipt or temporary insurance agreement for risks submitted on a facultative basis

FACULTATIVE PROVISIONS. The Ceding Company will send copies of the original applications, all medical reports, inspection reports, attending physician's statement, and any additional information pertinent to the insurability of the risk to the Reinsurer. For Joint Second to Die products submitted on a facultative other basis, the Ceding Company will send the application and other underwriting information for the substandard life or lives. The Ceding Company will provide the name, date of birth, rating (standard or preferred), and smoking status of the unimpaired life on the reinsurance cover sheet. If the Joint Second to Die policy is facultative due to amount, then the Ceding Company will send the application and other underwriting information for both lives. The Ceding Company will also notify the Reinsurer of any underwriting information requested or received after the initial request for reinsurance is made. For policies, which contain automatic increase provisions, the Ceding Company will inform the Reinsurer of the initial and ultimate risk amounts for which reinsurance is being requested, or in the case of indexed amounts, the basis of the indexing. On a timely basis, the Reinsurer will submit a written decision to the Ceding Company. In no case will the Reinsurer's offer on facultative submissions be open after 120 days have elapsed from the date of the Reinsurer's offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the Ceding Company must occur within 120 days of the final reinsurance offer. Unless the Reinsurer explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day 120. The Reinsurer will be liable under the Ceding Company's temporary insurance agreement for risks submitted on a facultative basis as noted in Schedule I.

FACULTATIVE PROVISIONS. A. STATE MUTUAL shall have the option to cede any case facultatively which it does not wish to cede automatically or which it may not cede automatically under the provisions of Article I. B. On facultative submissions GENERAL AMERICAN shall have no liability until it has communicated its final approval to STATE MUTUAL. C. In no case will GENERAL AMERICAN'S offer on facultative submissions be deemed to be still open after 120 days have elapsed from the date of GENERAL AMERICAN'S offer to participate in the risk. Non-receipt of the cession or additional information within the 120 days will result in GENERAL AMERICAN closing its file and giving written notice of such action.

FACULTATIVE PROVISIONS. A. The CEDING COMPANY will send copies of the original applications, all medical reports, inspection reports, attending physician's statement and any additional information pertinent to the insurability of the risk. B. The CEDING COMPANY will also notify GENERAL AMERICAN of any underwriting information requested or received after the initial request for reinsurance is made. For policies which contain automatic increase provisions, the CEDING COMPANY will inform GENERAL AMERICAN of the initial and ultimate risk amounts for which reinsurance is being requested. C. On a timely basis, GENERAL AMERICAN will submit a written decision. In no case will GENERAL AMERICAN'S offer on facultative submissions be open after 120 days have elapsed from the date of GENERAL AMERICAN'S offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the CEDING COMPANY must occur within 120 days of the final reinsurance offer. Unless GENERAL AMERICAN explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day 120. D. GENERAL AMERICAN will not be liable for proceeds paid under the CEDING COMPANY'S conditional receipt or temporary insurance agreement for risks submitted on a facultative basis.

FACULTATIVE PROVISIONS. 1. The CEDING COMPANY may submit for facultative consideration any of the coverages described in Schedule A. 2. To apply for reinsurance on a facultative basis, the CEDING COMPANY will complete and send to the REINSURER the Reinsurance Application Form attached as Exhibit C, along with all underwriting papers relating to the insurability of the risk. The REINSURER will immediately examine the papers and promptly make a written offer to the CEDING COMPANY. 3. If the CEDING COMPANY accepts the offer from the REINSURER and the policy is subsequently issued, the CEDING COMPANY shall advise the REINSURER in accordance with Article V - Notification of Reinsurance. 4. All offers of reinsurance made by the REINSURER will automatically terminate one hundred and twenty (120) days from the date on which the offer was made, unless the REINSURER has extended or shortened the offer in writing. 5. The liability of the REINSURER on any Facultative Reinsurance shall begin and end at the same time as that of the CEDING COMPANY, provided that: a. The REINSURER has given the CEDING COMPANY an unconditional offer to reinsure, and b. The CEDING COMPANY has notified the REINSURER in writing of its acceptance of such offer. ART1CLE IV - PROCEDURES 1. The CEDING COMPANY shall submit to the REINSURER copies of the application form for life insurance, conditional receipt or temporary insurance agreement, policy and rider forms, premium and non-forfeiture value manuals, underwriting guidelines and practices, reserve and cash value tables applicable to the life reinsured, and any other document that might affect the liability of the REINSURER under this Agreement. 2. Any change to the above documents or the underlying insurance, such as contractual provisions or options, premium rates, benefits, underwriting guidelines and practices that have been described to the REINSURER will be communicated to the REINSURER. The REINSURER shall then confirm in writing its agreement with such changes and confirm that it will continue the reinsurance at the same terms or at new reinsurance terms subject to negotiation and mutual agreement.

FACULTATIVE PROVISIONS. The Ceding Company will send copies of the original applications, all medical reports, inspection reports, attending physician's statement, and any additional information pertinent to the insurability of the risk to the Reinsurer. For policies which contain a guarantee increase, the Ceding Company will inform the Reinsurer of that fact. The Ceding Company will also notify the Reinsurer of any underwriting information requested or received after the initial request for reinsurance is made. On a timely basis, the Reinsurer will submit a written decision to the Ceding Company. The Reinsurer's offer on facultative submissions will expire after 120 days from the date of the Reinsurer's final offer. On an individual case, the 120 day period may be shorter or longer if the Reinsurer specifies a different period in its final offer. For all risks acceptance of the offer according to the rules of the Ceding Company must occur within 120 days of the Reinsurer's final offer.

FACULTATIVE PROVISIONS. A. The CEDING COMPANY will have the option to submit any case facultatively. B. The CEDING COMPANY will send, when requested, copies of the original applications, all medical reports, inspection reports, attending physician's statement and any additional information pertinent to the insurability of the risk. C. The CEDING COMPANY will also notify THE REINSURER of any underwriting information requested or received after the initial request for reinsurance is made. For policies which contain automatic increase provisions, the CEDING COMPANY will inform THE REINSURER of the initial and ultimate risk amounts for which reinsurance is being requested. D. On a timely basis, THE REINSURER will submit a written decision. In no case will THE REINSURER'S offer on facultative submissions be open after 120 days have elapsed from the date of THE REINSURER'S offer to participate in the risk. Acceptance of the offer and delivery of the policy according to the rules of the CEDING COMPANY must occur within 120 days of the final reinsurance offer. Unless THE REINSURER explicitly states in writing that the final offer is extended, the offer will be automatically withdrawn at the end of day 120. E. THE REINSURER will not be liable for proceeds paid under the CEDING COMPANY'S conditional receipt or temporary insurance agreement for risks submitted on a facultative basis.