Common use of Facultative Clause in Contracts

Facultative. For those risks submitted facultatively, in accordance with the provisions of Section 2, above, the Reinsurer's liability will commence and end simultaneously with the Company's, provided that the Reinsurer's facultative offer has been accepted by the Company and the Company has followed its facultative rules for reinsurance placement. If the proposed insured dies prior to the completion of the underwriting process, the Reinsurer will continue to underwrite the risk to determine if a facultative offer would have been made on the risk. If so and the Company accepts its facultative offer, provided that the risk has been placed according to the Company's usual rules for facultative reinsurance placement, the Reinsurer will accept liability for the risk, subject to the other provisions of this Article.

Facultative. For those risks submitted facultatively, in accordance with the provisions of Section 2, above, the Reinsurer's ’s liability will commence and end simultaneously with the Company's’s, provided that the Reinsurer's ’s facultative offer has been accepted by the Company and the Company has followed its facultative rules for reinsurance placement. If the proposed insured dies prior to the completion of the underwriting process, the Reinsurer will continue to underwrite the risk to determine if a facultative offer would have been made on the risk. If so and the Company accepts its facultative offer, provided that the risk has been placed according to the Company's ’s usual rules for facultative reinsurance placement, the Reinsurer will accept liability for the risk, subject to the other provisions of this Article.