Common use of Notification of Interested Parties Clause in Contracts

Notification of Interested Parties. Following each of Phase I and Phase II, the Administrator shall send to (a) policyholders of the Reinsured Contracts and (b) any applicable service providers, custodians, Producers or other counterparties, as required by applicable Law or any of the Reinsured Contracts or as directed by either Ceding Company in writing, a written notice prepared by the Administrator and reasonably acceptable to each of the Ceding Companies, advising that the Administrator has been appointed by the Ceding Companies to provide the Services. The Administrator shall send such written notice at its own expense, promptly after receipt of each of the Ceding Companies’ approval thereof, but in no event more than fifteen (15) Business Days thereafter, by first class U.S. mail.