Common use of UNPAID PREMIUMS Clause in Contracts

UNPAID PREMIUMS. A. If any reinsurance premium is not paid within 30 days following the allotted time, Continental may terminate the reinsurance on unpaid policies by giving the Ceding Company written notice. The Ceding Company will be liable for the payment of reinsurance premiums to the effective date of termination. Failure by Continental to exercise its right under this paragraph in any specific situation will not be a waiver of Continental's right to do so at a later date.

UNPAID PREMIUMS. A. If any reinsurance premium is not paid within 30 sixty (60) days following of the allotted timedue date, Continental may terminate the reinsurance on unpaid policies by giving the Ceding Company sixty (60) days written notice. The Ceding Company will be liable for the payment of reinsurance premiums to the effective date of termination. Failure by Continental to exercise its right under this paragraph in any specific situation will not be a waiver of Continental's ’s right to do so at a later date.

UNPAID PREMIUMS. A. If any reinsurance premium is not paid within 30 the sixty (60) days following of the allotted timedue date, Continental may terminate the reinsurance on unpaid policies by giving the Ceding Company written noticenotice of it's non payment, which notice shall give the Ceding Company a minimum of ten (10) days from its receipt of such written notice to make payment and prevent the termination of the reinsurance. The Ceding Company will be liable for the payment of reinsurance premiums to the effective date of termination. Failure by Continental to exercise its right under this paragraph in any specific situation will not be a waiver of Continental's right to do so at a later date.