Common use of Additional General Provisions Clause in Contracts

Additional General Provisions. applicable to this Extension Changes in risk during the Period of Insurance (i) the Insured consolidates with or merges into, or sells all or substantially all of its assets to any other person or entity or group of persons and/or entities acting in concert; or (ii) any person or entity, whether individually or together with any other person or persons, entity or entities acquires an amount of the outstanding shares representing more than 50% of the voting power for the election of directors of the Insured, or acquires the voting rights of such an amount of such shares; (either of the above events herein referred to as the "Transaction"), then the cover provided under this Extension is amended so as to apply only to Crisis committed prior to the effective date of the Transaction. The Insured shall give the Insurers written notice of the Transaction as soon as practicable but not later than 30 days after the effective date of the Transaction.