Examples of Settlement Program Notice in a sentence
If Settlement Program Coverage is granted in ITEM 3 of the Declarations, the Insurer shall pay Settlement Fees on behalf of the Insureds resulting from a Settlement Program for which a Settlement Program Notice is received by the Insurer during the Policy Period or Discovery Period, if applicable, for a Wrongful Act by the Insureds.
The Underwriter shall pay, on behalf of the Insureds, Settlement Fees and Defense Expenses with respect to a Settlement Program Notice first given to the Underwriter during the Policy Period or applicable Extended Reporting Period; provided, that such Settlement Fees and Defense Expenses are incurred after such Settlement Program Notice is first given to the Underwriter.
The Insured will not enter into a Voluntary Settlement Program or incur any Voluntary Settlement Fees or Defense Expenses in connection with a Voluntary Settlement Program Notice without the Insurer’s prior written consent, such consent not to be unreasonably withheld.
If an Insured elects to seek coverage for a Fiduciary Inquiry or a Voluntary Settlement Program Notice, the Insured shall give notice of such Fiduciary Inquiry or Voluntary Settlement Program Notice to the Underwriter no later than ninety (90) days after the expiration of the Policy Period or Extended Reporting Period, if exercised.
Settlement Program Notice means a prior written notice to the Company by the Insured of the Insured's intent to enter into a Settlement Program.