Optional Extension Period definition

Optional Extension Period means the period of time after the end of the Policy Period for reporting Claims as provided in Clause XII. of this Policy.

Optional Extension Period means period of time described in Section VII. EXTENSION PERIODS, Paragraph B. Optional Extension Period, wherein this Coverage Form provides extra days after the end of the "policy period" for an "insured" to report a "claim" that occurred during the "policy period".

Optional Extension Period means the period described in Clause IX.A.

Examples of Optional Extension Period in a sentence

• The purchase of the Optional Extension Period will in no way increase the Policy Aggregate Limit of Liability or any sublimit of liability.

• At the commencement of the Optional Extension Period the entire premium will be deemed earned, and in the event the Named Insured terminates the Optional Extension Period for any reason prior to its natural expiration, the Underwriters will not be liable to return any premium paid for the Optional Extension Period.

• All notices and premium payments with respect to the Optional Extension Period option will be directed to the Underwriters through entity listed for Administrative Notice in the Declarations.

• Upon non-renewal or cancellation of this Policy for any reason except the non-payment of premium, the Named Insured will have the right to purchase, for additional premium in the amount of the Optional Extension Premium percentage listed in the Declarations of the full Policy Premium listed in the Declarations, an Optional Extension Period for the period of time listed in the Declarations.

• To pay on behalf of the Insured: Damages and Claims Expenses, in excess of the Retention, which the Insured shall become legally obligated to pay resulting from any Claim first made against any Insured during the Policy Period or Optional Extension Period (if applicable) and reported in writing to the Underwriters during the Policy Period or as otherwise provided in Clause X.

More Definitions of Optional Extension Period

Optional Extension Period means the period of time allowed for making "claims" after the expiration of a claims-made Coverage Form. This is also known as a "tail".

Optional Extension Period means the period described in Clause XI. of the Policy Terms and Conditions.

Optional Extension Period means a period of five (5) years which may be elected by CONTRACTOR upon six (6) months written notice to EGPC prior to the expiry of the relevant twenty (20) year period.

Optional Extension Period means the period described in Clause XII. of this Policy.

Optional Extension Period means the period described in Clause VIII.

Optional Extension Period means period of time described in Section VII. EXTENSION PERIODS, Paragraph

Optional Extension Period has the meaning set forth in Section 2.6(a).