Common use of Facultative Clause in Contracts

Facultative. The Company may (using the application form furnished by the Reinsurer) apply to the Reinsurer for facultative reinsurance on any life, waiver of premium or accidental death risk assumed by the Company and, upon the Company’s acceptance (by written notice to the Reinsurer) of the Reinsurer’s facultative offer, reinsurance will be provided by this agreement, except to the extent the terms and conditions of this agreement are modified by the Reinsurer’s offer. The Reinsurer’s offer will expire at twelve o’clock noon on the 90th day following the date shown in the Reinsurer’s offer, if the Reinsurer has not received the Company’s acceptance prior thereto. The Company shall have the right to change the table rating of any contract reinsured under this §B, but unless the change is submitted to and accepted in writing by the Reinsurer, this agreement will apply as if the change had not been made.

Facultative. The Company may (using the application form furnished by the Reinsurer) apply to the Reinsurer for facultative reinsurance on any life, waiver of premium or accidental death risk assumed by the Company and, upon the Company’s 's acceptance (by written notice to the Reinsurer) of the Reinsurer’s 's facultative offer, reinsurance will be provided by this agreement, except to the extent the terms and conditions of this agreement are modified by the Reinsurer’s 's offer. The Reinsurer’s 's offer will expire at twelve o’clock o'clock noon on the 90th day following the date shown in the Reinsurer’s 's offer, if the Reinsurer has not received the Company’s 's acceptance prior thereto. The Company shall have the right to change the table rating of any contract reinsured under this §Section B, but unless the change is submitted to and accepted in writing by the Reinsurer, this agreement will apply as if the change had not been made.