Common use of FAILURE TO PAY PREMIUMS Clause in Contracts

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 18, the premiums will be considered in default and REINSURER may terminate the reinsurance upon 30 days' prior written notice. REINSURER will have no further liability as of the termination date. CEDING COMPANY will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 1819, the premiums will be considered in default and REINSURER the Reinsurer may terminate the reinsurance upon 30 days' days prior written notice. REINSURER The Reinsurer will have no further liability as of the termination date. CEDING COMPANY The Ceding Company will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY The Ceding Company agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 1819, the premiums will be considered in default and the REINSURER may terminate the reinsurance upon 30 days' days prior written notice. The REINSURER will have no further liability as of the termination date. The CEDING COMPANY will be liable for the prorated reinsurance premiums to the termination date. The CEDING COMPANY agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 18, the premiums premiums, will be considered in default and REINSURER may terminate the reinsurance upon 30 days' prior written notice. REINSURER will have no further liability as of the termination date. CEDING COMPANY will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 1819, the premiums will be considered in default and REINSURER the Reinsurer may terminate the reinsurance upon 30 days' prior written notice. REINSURER The Reinsurer will have no further liability as of the termination date. CEDING COMPANY The Ceding Company will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY 0020-2186 6 YRT (02092001) The Ceding Company agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 1819, the premiums will be considered in default and REINSURER ____ may terminate the reinsurance upon 30 days' days prior written notice. REINSURER ____ will have no further liability as of the termination date. CEDING COMPANY will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 1819, the premiums will be considered in default and REINSURER the Reinsurer may terminate the reinsurance upon 30 days' prior written notice. REINSURER The Reinsurer will have no further liability as of the termination date. CEDING COMPANY The Ceding Company will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY The Ceding Company agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 18, the premiums will be considered in default and REINSURER may terminate the reinsurance upon 30 days' days prior written notice. REINSURER will have no further liability as of the termination date. CEDING COMPANY will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 1817, the premiums will be considered in default and REINSURER may terminate the reinsurance upon 30 days' days prior written notice. REINSURER will Will have no further liability as of the termination terminate date. CEDING COMPANY will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 1819, the premiums will be considered in default and REINSURER SECURITY may terminate the reinsurance upon 30 days' days prior written notice. REINSURER SECURITY will have no further liability as of the termination date. CEDING COMPANY FORTIS BENEFITS will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY FORTIS BENEFITS agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section Article 18, the premiums will be considered in default and REINSURER the Reinsurer may terminate the reinsurance upon 30 days' prior written noticenotice during which time the Ceding Company can cure the default by payment of the premium. REINSURER The Reinsurer will have no further liability as of the termination date. CEDING COMPANY The Ceding Company will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY The Ceding Company agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 1819, the premiums will be considered in default and REINSURER the Reinsurer may terminate the reinsurance upon 30 days' prior written notice. REINSURER The Reinsurer will have no further liability as of the termination date. CEDING COMPANY The Ceding Company will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY The Ceding Company agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 18, the premiums will be considered in default and REINSURER SECURITY may terminate the reinsurance upon 30 days' ’ prior written notice. REINSURER SECURITY will have no further liability as of the termination date. CEDING COMPANY FORTIS BENEFITS will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY FORTIS BENEFITS agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.

FAILURE TO PAY PREMIUMS. If the reinsurance premiums are 60 days past due, for reasons other than those due to error or omission as defined below in Section 18, the premiums will be considered in default and REINSURER the Reinsurer may terminate the reinsurance upon 30 days' ’ prior written notice. REINSURER The Reinsurer will have no further liability as of the termination date. CEDING COMPANY The Ceding Company will be liable for the prorated reinsurance premiums to the termination date. CEDING COMPANY The Ceding Company agrees that it will not force termination under the provisions of this paragraph solely to avoid the recapture requirements or to transfer the block of business reinsured to another reinsurer.