Optional Extension definition

Optional Extension means optional coverage which is available to You apart from the Basic Cover under the Policy, which You can choose to take on payment of necessary additional premium

Optional Extension a Temporary Assignment that comes into being on the terms set out in clause 8 following the service of a Transfer Notice under clause 7 and for the purposes of these terms any reference to the Period of Supply includes the period of an Optional Extension. Principal Agreement: the document of which this schedule forms part. Transfer Fee: 25% of Remuneration applicable in the circumstances set out in clauses 5 to 7 and 10. Transfer Period: within the later of

Optional Extension has the meaning given in Schedule 7;

Examples of Optional Extension in a sentence

• As a condition precedent to the right to purchase the Optional Extension Period, the total premium for this Policy must have been paid.

• A sub-limit is part of and not in addition to the indemnity limit.A deductible may apply to an Optional Extension.

• The sub-limit is the maximum amount payable by us under an Optional Extension.

• In the event of the purchase of the Optional Extension Period, the entire premium for the Optional Extension Period shall be deemed earned at its commencement.

• If notice of election of the Optional Extension Period and full premium payment is not given to the Underwriters within such thirty (30) day period, there shall be no right to purchase the Optional Extension Period.

• Trustee Notice to DTC regarding Company's Exercise of Optional Extension or Reset.

• In order for the Named Insured to invoke the Optional Extension Period option, the payment of the additional premium for the Optional Extension Period must be paid to the Underwriters within thirty (30) days of the termination of this Insurance.

• If such notice and premium payment is not so given to the Underwriters, there shall be no right to purchase the Optional Extension Period.

• The cover provided by this Optional Extension is specifically excess of any other applicable insurance.

• The Limit of Liability for the Optional Extension Period shall be part of and not in addition to the Limit of Liability of the Underwriters for the Policy Period.

More Definitions of Optional Extension

Optional Extension has the meaning assigned to such term in Section 6 of this Indenture Supplement.

Optional Extension has the meaning given in Schedule 7; “Payment Currency” has the meaning given in Clause 21.6; “Permitted Security Interests” means: