Common use of Modifications and Amendments Clause in Contracts

Modifications and Amendments. Any party may increase the amount of the Bond, provided that written notice thereof must be given to the other parties to this Agreement. If pursuant to Rule 17g-1, any party shall determine that the coverage provided pursuant to this Agreement should otherwise be modified, it shall so notify the other parties hereto, and indicate the nature of the modification which it believes to be appropriate. If, within forty-five (45) days of such notice any necessary amendments to this Agreement shall not have been made and the request for modification shall not have been withdrawn, this Agreement shall terminate with respect to such party (except with respect to losses occurring prior to such termination), but, with respect to each other party, shall remain in effect. Any party may withdraw from this Agreement at any time and cease to be party hereto (except with respect to losses occurring prior to such withdrawal) by giving written notice to the other parties of such withdrawal. Upon withdrawal, a withdrawing party shall be entitled to receive any premium rebated by the fidelity company with respect to such withdrawal in accordance with the percentages contained in Section 3 hereof relating to the allocation of payment of premiums.

Modifications and Amendments. Any party Party may increase the amount of the Bond, provided that written notice thereof must be given to the other parties Parties to this AgreementAgreement and the Securities and Exchange Commission in accordance with Rule 17g-1. If pursuant to Rule 17g-1, any party Party shall determine that the coverage provided pursuant to this Agreement described herein should otherwise be modified, it shall so notify the other parties Parties hereto, and indicate the nature of the modification which it believes to be appropriate. If, within forty-five (45) ninety days of such notice any necessary amendments to this Agreement shall not have been made and the request for modification shall not have been withdrawn, this Agreement shall terminate with respect to such party Party (except with respect to losses occurring prior to such termination), but, with respect to each other party, shall remain in effect. Any party Party may withdraw from this Agreement at any time and cease to be party a Party hereto (except with respect to losses occurring prior to such withdrawal) by giving not less than ninety days’ prior written notice to the other parties Party of such withdrawal. Upon withdrawal, a withdrawing party Party shall be entitled to receive any premium rebated by the fidelity company with respect to such withdrawal in accordance with the percentages contained in Section 3 hereof relating to the allocation of payment of premiums.