Common use of TERM AND CANCELLATION Clause in Contracts

TERM AND CANCELLATION. A. This Agreement shall be effective as of August 16, 2005 at 12:01 a.m. local time where Reinsurer is located (the “Effective Date”) and shall be a continuous contract in respect of all new and renewal policies, as defined herein as being subject to this Agreement, written on a risk attaching basis by the Company and effective on or after the Effective Date, and may be cancelled by the Company with ninety (90) days prior written notice by certified or registered mail, return receipt requested, or by overnight courier service, and may be cancelled by Reinsurer as of any anniversary date of the Effective Date with ninety (90) days prior written notice by certified or registered mail, return receipt requested, or by overnight courier service. The date of such cancellation shall hereinafter be referred to as the “Termination Date.” B. Upon cancellation of this Agreement, at the Company’s option: (i) Reinsurer shall continue to be liable under this Agreement with respect to all loss occurrences on policies in force prior to the Termination Date until the date of the next scheduled anniversary of each policy, its natural expiration, cancellation or non-renewal, whichever shall first occur; provided, however, that in no event shall Reinsurer be liable under this Agreement for any loss with a date of loss occurrence more than twelve (12) months plus odd time after the Termination Date. The Company shall not issue policies for a period longer than twelve months plus odd time, for a total policy period not to exceed (18) months and any period permitted for discovery under the policies reinsured hereunder; or (ii) Except for policies with run-off liabilities after the Termination Date, Reinsurer shall have no liability for loss occurrences arising upon or after the Termination Date. Reinsurer shall not receive any reinsurance premiums for any period after the Termination Date.

TERM AND CANCELLATION. A. This Agreement shall be effective as of August 16, 2005 at 12:01 a.m. local time where Reinsurer is located (the “Effective Date”) and shall be a continuous contract in respect of will apply to all new and renewal policies, as defined herein as being subject to this Agreement, written on a risk attaching basis by the Company and effective losses occurring and/or Claims Made on or after December 1, 2002, 12:01 a.m. standard time (as set forth in the Effective DateCompany's Policies) on Policies written or Renewed with effective dates on or after December 1, 2002, 12:01 a.m. standard time, and will remain in full force and effect until canceled as hereinafter provided. This Agreement may be cancelled canceled (or any Reinsurer's participation canceled or reduced) any December 1, 12:01 a.m. standard time by the Company with ninety (90) either party giving at least 90 days prior written notice to the other party. During any such period of notice the parties will remain bound by certified the terms of this Agreement. In the event this Agreement is canceled (or registered mailany Reinsurer's participation canceled or reduced) in accordance with the aforementioned procedure, return receipt requestedthe Reinsurers will remain liable for all losses under Policies in force until their expiration or renewal dates, whichever comes first. Additionally, the Reinsurers will remain liable during any Extended Reporting Period that an insured may elect to invoke on a Claims Made Policy that expires or is canceled during, or at the end of, the period of the Reinsurers' liability hereunder. Claim Made dates for claims first made during said Extended Reporting Period will be deemed to be the last in force day of the original policy period. In conformance with state regulations, the obligations of the Reinsurers under this Agreement as respects all Claims Made Policies, will extend to the restatement of any aggregate limits as may be afforded by overnight courier serviceany Extended Reporting Period provision. The Reinsurers will receive their share of any premium applicable to said Extended Reporting Period, which will be considered fully earned by the Reinsurers on the last in force day of the original policy period. In the event that business subject to this Agreement is written in a jurisdiction where cancellation, renewal, or nonrenewal of coverage is regulated by the insurance authorities, and may be cancelled the Company is bound by Reinsurer as statute or regulation of any anniversary date of the Effective Date with ninety (90) days prior written notice by certified or registered mail, return receipt requested, said jurisdiction or by overnight courier service. The a judicial decision to continue coverage after the cancellation date of such cancellation shall hereinafter be referred to as the “Termination Date.” B. Upon cancellation of this Agreement, at then the Company’s option: Reinsurers will remain liable on any Policies continuing such coverage (iand will receive the premium therefor) Reinsurer shall continue to be liable under this Agreement with respect to all loss occurrences on policies in force prior to the Termination Date until the date of each expires or until the next scheduled anniversary of each policy, its natural expiration, cancellation or non-renewalfirst renewal date when the Company can lawfully nonrenew said Policies, whichever shall first occur; providedoccurs first. If, however, the Company decides to hold the business net and for its own account, or has other reinsurance agreements that in no event shall Reinsurer would apply to such business, the Reinsurers will not be liable under this Agreement for any loss with a date of loss occurrence more than twelve (12) months plus odd time after the Termination Date. The Company shall not issue policies for a period longer than twelve months plus odd time, for a total policy period not to exceed (18) months and any period permitted for discovery under the policies reinsured hereunder; or (ii) Except for policies with run-off period set forth above. Notwithstanding the cancellation of this Agreement (or any Reinsurer's participation) as hereinabove provided, the provisions of this Agreement will continue to apply to all obligations and liabilities after of the Termination Date, Reinsurer shall have no liability for loss occurrences arising upon or after parties incurred hereunder to the Termination Date. Reinsurer shall not receive any reinsurance premiums for any period after the Termination Dateend that all such obligations and liabilities will be fully performed and discharged.

TERM AND CANCELLATION. A. This Agreement shall be effective as of August 16, 2005 at 12:01 a.m. local time where Reinsurer is located (the “Effective Date”) and shall be a continuous contract in respect of will apply to all new and renewal policies, as defined herein as being subject to this Agreement, written on a risk attaching basis by the Company and effective losses occurring on or after January 1, 1997, 12:01 A.M. standard time (as defined in the Effective DateCompany's policies) on inforce policies, or policies written, or renewed with effective dates on or after January 1, 1997, 12:01 A.M. standard time, and will remain in force and effect until cancelled as hereinafter provided. This Agreement may be cancelled terminated January 1, 1999 or any January 1ST thereafter or by the Company with ninety (90) either party giving at least 90 days prior written notice by certified or registered mail, return receipt requested, or mail to the other party. During any such period of notice the Reinsurer will remain bound by overnight courier service, and may be cancelled by Reinsurer as of any anniversary date of the Effective Date with ninety (90) days prior written notice by certified or registered mail, return receipt requested, or by overnight courier service. The date of such cancellation shall hereinafter be referred to as the “Termination Date.” B. Upon cancellation terms of this Agreement, at . In the Company’s option: (i) Reinsurer shall continue to be liable under event this Agreement is cancelled in accordance with respect to the aforementioned procedure, the Reinsurer will remain liable for all loss occurrences on losses under policies in force prior to the Termination Date until the date of the next scheduled anniversary of each policy, its natural expiration, cancellation their expiration or non-renewalrenewal dates, whichever shall come first occur; provided, however, that in no event shall Reinsurer be liable under this Agreement for any loss with a date of loss occurrence more than twelve (12) months plus odd time after the Termination Date. The Company shall not issue policies for a period longer than twelve to exceed 12 months plus odd time, for a total policy period not nor to exceed (18) 18 months and any period permitted for discovery under in all. During the policies reinsured hereunder; or (ii) Except for policies with run-off liabilities after period, the Termination DateCompany will continue to cede to the Reinsurer the appropriate earned premium. Alternatively, the Company may elect to cancel (or reduce) the Reinsurer's liability on a cutoff basis as of the date of cancellation, and the Reinsurer shall have no liability will not be liable for loss occurrences arising upon any losses occurring (or the percentage thereof equal to the amount of participation reduction) on or after the Termination Datecancellation date. Should cancellation take place on a cut-off basis, or the Reinsurer's participation change, any aggregate losses to the Reinsurer shall not on policies in force as of the date of cancellation or participation change will be prorated among those Reinsurers cancelling or reducing their participation and those Reinsurers initiating or increasing their participation in the same manner that the premium on the policies is shared. Notwithstanding the other provisions in this Article, in the event the Company's policies are written in a jurisdiction where cancellation, renewal, or nonrenewal is regulated by the insurance authorities, and the Company is bound by such regulations and statutes of said jurisdiction or by a judicial decision, the Reinsurer will remain liable on any such policies in force at cancellation date of this Agreement (and will receive any reinsurance premiums for any period after the Termination Datepremium therefore) until the date each expires or until the first renewal date when the Company can lawfully nonrenew said policies, whichever occurs first. Notwithstanding the cancellation of this Agreement as herein above provided, its provisions will continue to apply to all unfinished business hereunder to the end that all obligations and liabilities incurred by each party hereunder will be fully performed and discharged.

TERM AND CANCELLATION. A. This Agreement shall be effective as of August 16, 2005 at 12:01 a.m. local time where Reinsurer is located (the “Effective Date”) and shall be a continuous contract in respect of will apply to all new and renewal policies, as defined herein as being subject to this Agreement, written on a risk attaching basis by the Company and effective losses occurring on or after January 1, 1998, 12:01 a.m. standard time (as defined in the Effective DateCompany's original policies) on policies written or renewed with an effective date on or after January 1, 1998, and all policies in force at the time of the inception of this Agreement and will remain in full force and effect until canceled as hereinafter provided. This Agreement may be cancelled canceled any January 1 by the Company with ninety (90) either party giving at least 90 days prior written notice by certified or registered mailmail to the other party. In the event this Agreement is canceled in accordance with the aforementioned procedure, the Reinsurer will remain liable for all losses under policies in force until their expiration or renewal dates, whichever come first, but in no event will the Reinsurer's liability extend for a run-off period longer than 12 months plus extensions and odd time not to exceed 18 months in all from the date of cancellation. The Reinsurer will return receipt requestedimmediately, on a pro rata basis as of the date its liability ceases, the unearned reinsurance premium on those policies that remain in force beyond the run-off period less ceding commission, if any. Alternatively, the Company may elect to cancel the Reinsurer's liability on a cut-off basis as of the date of cancellation, and the Reinsurer will not be liable for any losses occurring on or after the cancellation date and will return immediately to the Company the unearned reinsurance premium less ceding commission as of that date computed on a monthly pro rata basis. The Reinsurer will also remain liable with respect to policies having aggregate limits. Notwithstanding the other provisions in this Article, in the event the Company's original policies are written in a jurisdiction where cancellation, renewal, or nonrenewal is regulated by overnight courier servicethe insurance authorities, and may be cancelled the Company is bound by such regulations and statutes of said jurisdiction or by a judicial decision, the Reinsurer as of will remain liable on any anniversary such policies in force at cancellation date of this Agreement (and will receive the Effective Date with ninety (90premium therefor) until the date each expires or until the first renewal date when the Company can lawfully nonrenew said policies, whichever occurs first. If, however, the Company intends to hold the business net and for its own account, or has other reinsurance agreements that would apply to such business, the Reinsurer will not be liable for longer than the run-off period set forth above. The Company may terminate the Reinsurer's participation hereon at any time on a cut-off basis by giving 30 days prior written notice in writing by certified or registered mail, return receipt requestedmail to said Reinsurer upon the happening of any one of the following circumstances: A. A State Insurance Department or other legal authority orders the Reinsurer to cease writing business; B. The Reinsurer has become insolvent or has been placed into liquidation or receivership (whether voluntary or involuntary), or there has been instituted against it proceedings for the appointment of a receiver, liquidator, rehabilitator, conservator, or trustee in bankruptcy, or other agent known by overnight courier servicewhatever name, to take possession of its assets or control of its operations; C. The Reinsurer's surplus has been reduced by whichever is greater, either 20% of the amount of surplus at the inception of this Agreement or 20% of the amount at the latest anniversary, or has lost any part of, or has reduced its paid-up capital; D. The Reinsurer has merged with or has become acquired or controlled by any company, corporation, or individual(s) not controlling the Reinsurer's operations previously; or E. The Reinsurer has reinsured its entire liability under this Agreement without the Company's prior written consent. If said Reinsurer's participation is so canceled, it will immediately return the unearned portion of any premium paid hereunder, less ceding commission, if any. Additionally, if said Reinsurer's participation is canceled pursuant to subparagraphs A through E above, then the Company, at its sole discretion, may elect to commute the Reinsurer's liability for losses, including loss expense, whether known or unknown, on policies covered under this Agreement. In the event the Company and the Reinsurer cannot agree upon the capitalized value of the Reinsurer's liability on such policies, the two parties will mutually appoint an actuary within 30 days to resolve the matter of valuation and will share equally in any expense associated with such appointment in a manner agreed upon at the time of the appointment. The date appointed actuary will not be under the control of such cancellation shall hereinafter either party and will be referred a Fellow of the Casualty Actuarial Society. The value determined by said actuary will be set forth in a sworn statement expressing the actuary's professional opinion that said value is fair for the complete release of all liabilities being commuted. Payment by the Reinsurer of the amount of liability ascertained will constitute a complete and final release of the Reinsurer with respect to as its liability for all losses, including loss expense, whether known or unknown, on policies covered under this Agreement. Alternatively, if said Reinsurer's participation is canceled pursuant to subparagraphs A and B above, then the “Termination Date.” B. Upon cancellation of Company, at its sole discretion, may require the Reinsurer to return all premium paid by the Company to the Reinsurer under this Agreement, at the Company’s option: (i) less paid losses and ceding commission, if any. The Reinsurer shall continue to then will be liable released completely from any and all liability for all losses, including loss expense, whether known or unknown, on policies covered under this Agreement with respect to all loss occurrences on policies in force prior to the Termination Date until the date of the next scheduled anniversary of each policy, its natural expiration, cancellation or non-renewal, whichever shall first occur; provided, however, that in no event shall Reinsurer be liable under this Agreement for any loss with a date of loss occurrence more than twelve (12) months plus odd time after the Termination Date. The Company shall not issue policies for a period longer than twelve months plus odd time, for a total policy period not to exceed (18) months and any period permitted for discovery under the policies reinsured hereunder; or (ii) Except for policies with run-off liabilities after the Termination Date, Reinsurer shall have no liability for loss occurrences arising upon or after the Termination Date. Reinsurer shall not receive any reinsurance premiums for any period after the Termination DateAgreement.

TERM AND CANCELLATION. A. This Agreement Contract shall apply to all cessions commencing on and after 12:01 a.m., Eastern Standard Time, January 1, 1996, and shall remain in force until 12:01 a.m., Eastern Standard Time, January 1, 1998. Notwithstanding the above, the portfolio of unearned premiums and unexpired liability as of 12:01 a.m., Eastern Standard Time, January 1, 1997, shall be effective assumed by the Reinsurers under this Contract and nothing herein contained shall alter or affect the continuity granted, insofar as this portfolio assumption is concerned, by the said preceding Contract. In consideration of the foregoing, the Company shall pay to the Reinsurers hereunder the unearned premiums calculated on the monthly pro rata basis as of August 16January 1, 2005 at 12:01 a.m. local time where Reinsurer is located (1997, less provisional commission allowed the “Effective Date”) Company by the Reinsurers and in consequence thereof, the Reinsurers hereunder shall be a continuous contract liable for all losses under the said preceding Contract occurring subsequent to 12:01 a.m., Eastern Standard Time, January 1, 1997. In the event of non-renewal of this Contract, the liability of the Reinsurers shall remain in respect force to the natural expiration or cancellation or next anniversary date whichever comes first. However, at the option of all new and renewal policies, as defined herein as being subject to the Company this Agreement, written Contract may be cancelled on a risk attaching basis cut-off basis. In the event of the Company exercising this cut-off option, the Reinsurers shall incur no liability for losses occurring subsequent to the date of termination, but shall remain liable for all losses outstanding as of the date of termina- tion. In the event of the Company withdrawing the cessions as provided for herein, it shall debit the Reinsurers with a sum equal to the pro rata unearned premiums on unexpired cessions at the respective date, less the rate of commission allowed by the Reinsurers on such cessions, provided such option is exercised prior to the termination of this Contract. Effective: January 1, 1997 2 of 17 3645-24 DOC: January 13, 1997 PAGE If any law or regulation of the federal, state or local government of any jurisdiction in which the Company is doing business should render illegal the arrangements made in this Contract, the Contract can be terminated immediately, insofar as it applies to such jurisdiction, by the Company and effective on or after giving notice to the Effective Date, and Reinsurers to such effect. This Contract may be cancelled altered or amended in any of its terms and conditions by mutual consent of the Company with ninety (90) days prior written notice parties, either by certified or registered mail, return receipt requested, endorsement hereof or by overnight courier service, an instrument in writing attached hereto and may be cancelled by Reinsurer as of any anniversary date of the Effective Date with ninety (90) days prior written notice by certified or registered mail, return receipt requested, or by overnight courier service. The date of such cancellation shall hereinafter be referred to as the “Termination Dateformally signed.” B. Upon cancellation of this Agreement, at the Company’s option: (i) Reinsurer shall continue to be liable under this Agreement with respect to all loss occurrences on policies in force prior to the Termination Date until the date of the next scheduled anniversary of each policy, its natural expiration, cancellation or non-renewal, whichever shall first occur; provided, however, that in no event shall Reinsurer be liable under this Agreement for any loss with a date of loss occurrence more than twelve (12) months plus odd time after the Termination Date. The Company shall not issue policies for a period longer than twelve months plus odd time, for a total policy period not to exceed (18) months and any period permitted for discovery under the policies reinsured hereunder; or (ii) Except for policies with run-off liabilities after the Termination Date, Reinsurer shall have no liability for loss occurrences arising upon or after the Termination Date. Reinsurer shall not receive any reinsurance premiums for any period after the Termination Date.

TERM AND CANCELLATION. A. This Agreement shall be effective as of August 16, 2005 at 12:01 a.m. local time where Reinsurer is located (the “Effective Date”) and shall be a continuous contract in respect of will apply to all new and renewal policies, as defined herein as being subject to this Agreement, written on a risk attaching basis by the Company and effective losses occurring on or after January 1, 1997, 12:01 A.M. standard time (as defined in the Effective DateCompany's policies) on policies written, or renewed with effective dates on or after January 1, 1997, 12:01 A.M. standard time, and will remain in force and effect until cancelled as hereinafter provided. This Agreement may be cancelled terminated January 1, 2001 or any January 1st thereafter or by the Company with ninety (90) either party giving at least 90 days prior written notice by certified or registered mail, return receipt requested, or mail to the other party. During any such period of notice the Reinsurer will remain bound by overnight courier service, and may be cancelled by Reinsurer as of any anniversary date of the Effective Date with ninety (90) days prior written notice by certified or registered mail, return receipt requested, or by overnight courier service. The date of such cancellation shall hereinafter be referred to as the “Termination Date.” B. Upon cancellation terms of this Agreement, at . In the Company’s option: (i) Reinsurer shall continue to be liable under event this Agreement is cancelled in accordance with respect to the aforementioned procedure, the Reinsurer will remain liable for all loss occurrences on losses under policies in force prior to the Termination Date until the date of the next scheduled anniversary of each policy, its natural expiration, cancellation their expiration or non-renewalrenewal dates, whichever shall come first occur; provided, however, that in no event shall Reinsurer be liable under this Agreement for any loss with a date of loss occurrence more than twelve (12) months plus odd time after the Termination Date. The Company shall not issue policies for a period longer than twelve to exceed 12 months plus odd time, for a total policy period not nor to exceed (18) 18 months and any period permitted for discovery under in all. During the policies reinsured hereunder; or (ii) Except for policies with runnun-off liabilities after period, the Termination DateCompany will continue to cede to the Reinsurer the appropriate earned premium. Alternatively, the Company may elect to cancel (or reduce) the Reinsurer's liability on a cut-off basis as of the date of cancellation, and the Reinsurer shall have no liability will not be liable for loss occurrences arising upon any losses occurring (or the percentage thereof equal to the amount of participation reduction) on or after the Termination Datecancellation date. Should cancellation take place on a cut-off basis, or the Reinsurer's participation change, any aggregate losses to the Reinsurer shall not on policies in force as of the date of cancellation or participation change will be prorated among those Reinsurers cancelling or reducing their participation and those Reinsurers initiating or increasing their participation in the same manner that the premium on the policies is shared. Notwithstanding the other provisions in this Article, in the event the Company's policies are written in a jurisdiction where cancellation, renewal, or nonrenewal is regulated by the insurance authorities, and the Company is bound by such regulations and statutes of said jurisdiction or by a judicial decision, the Reinsurer will remain liable on any such policies in force at cancellation date of this Agreement (and will receive any reinsurance premiums for any period after the Termination Datepremium therefore) until the date each expires or until the first renewal date when the Company can lawfully nonrenew said policies, whichever occurs first. Notwithstanding the cancellation of this Agreement as herein above provided, its provisions will continue to apply to all unfinished business hereunder to the end that all obligations and liabilities incurred by each party hereunder will be fully performed and discharged.

TERM AND CANCELLATION. A. This Agreement shall be effective as of August 16, 2005 at 12:01 a.m. local time where Reinsurer is located (the “Effective Date”) and shall be a continuous contract in respect of all new and renewal policies, as defined herein as being subject will apply to this Agreement, written on a risk attaching basis by the Company and effective losses occurring on or after the Effective Date and to reported losses and incurred but not reported losses as of the Effective Date, . This Agreement is continuous in nature and may be cancelled shall remain in effect until canceled at the end of any calendar year by either the Company with ninety (90) days or the Reinsurer giving not less than 90 day’s prior written notice by certified Certified Mail to the other party. B. The Reinsurer will continue to participate in all insurance and reinsurance coming within the terms of this Agreement granted or registered mailrenewed by the Company from the date written notice of cancellation is given to the other party until the effective date of cancellation, return receipt requested, subject to the following: 1) The Company will have the option of taking back the unexpired liability as at the effective date of cancellation or by overnight courier service, and may be cancelled by Reinsurer as of any time thereafter but no later than the first anniversary date of cancellation by giving the Effective Date with ninety Reinsurer thirty (9030) days day’s prior written notice by certified or registered mail, of its intent to do so. 2) The Reinsurer will return receipt requested, or by overnight courier service. The date of such cancellation shall hereinafter be referred to as the “Termination Date.” B. Upon cancellation of this Agreement, at the Company’s option: (i) Reinsurer shall continue to be liable under this Agreement with respect to all loss occurrences on policies in force prior to the Termination Date until Company the unearned reinsurance premium applicable to the unexpired liability as calculated on a monthly pro rata basis less the rate of commission allowed. C. In determining whether the requisite number of days notice has been given, the date of cancellation shall be counted but the next scheduled anniversary date of each policymailing shall not. D. If any law or regulation of the Federal, its natural expirationState or Local government of the United States, cancellation or non-renewalthe rulings of officials, whichever shall first occur; providedhaving supervision over insurance companies, howevershould render the undertaking of this Agreement illegal as to risks located within the jurisdiction of such Authority, that the Company may upon written notice to the Reinsurer suspend, abrogate or amend this Agreement insofar as it relates to risks located within such jurisdiction, to the extent necessary to comply with such law, regulation or ruling. Such suspension, abrogation or amendment of a portion of this Agreement will in no event shall way affect any other portion thereof. E. This Agreement may be altered or amended in any of its terms and. conditions by mutual consent of the Company and the Reinsurer be liable under by endorsement or by an instrument in writing formally signed by each party and attached to this Agreement for any loss with a date of loss occurrence more than twelve (12) months plus odd time after the Termination Date. The Company shall not issue policies for a period longer than twelve months plus odd time, for a total policy period not to exceed (18) months and any period permitted for discovery under the policies reinsured hereunder; or (ii) Except for policies with run-off liabilities after the Termination Date, Reinsurer shall have no liability for loss occurrences arising upon or after the Termination Date. Reinsurer shall not receive any reinsurance premiums for any period after the Termination DateAgreement.