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1 SECTION 6.2 Conditions to Permittinq Withdrawal of a <br /> Participant from Coveraqe. Commencing July 1, 1991, the <br />3 Authority shall permit a Participant to withdraw from Coverage <br /> under this Agreement, provided that the following are satisfied: <br />5 <br /> (a) such Participant shall not be in default of any <br />7 of its obligations to pay Premium hereunder; <br /> <br /> 9 <br /> <br />11 <br /> <br />13 <br /> <br />15 <br /> <br />17 <br /> <br />19 <br /> <br />21 <br /> <br />23 <br /> <br />25 <br /> <br />27 <br /> <br />29 <br /> <br />31 <br /> <br />33 <br /> <br />35 <br /> <br /> (b) not later than the April 1 next preceding the <br />date which is two years prior to the effective date of such <br />withdrawal, such Participant shall have provided written <br />notice to the Authority of its intent to withdraw; provided <br />that, in the event that the Governing Board of the <br />Authority or the Participants, by less than unanimous <br />consent, agree to a revision of this Agreement which <br />materially alters the rights and obligations of the <br />Participants under the terms of this Agreement, including <br />admission of a new Participant or revision of the <br />methodology for determining Pure Premium Rates, a <br />Participant which did not consent to such amendment shall <br />be entitled to withdraw from Coverage by providing written <br />notice to the Authority of its intent to withdraw not later <br />than the April 1 next preceding the effective date of such <br />withdrawal, commencing July 1, 1991; <br /> <br /> (c) such Participant shall have paid (or there shall <br />have been applied on its behalf certain moneys as described <br />in Section 5.2 hereof) the full amount of Termination <br />Premium pursuant to Section ll.4(a) hereof and all fees and <br />expenses incurred by the Authority as a result of complying <br />with the procedures for withdrawal required herein to the <br />Authority; <br /> <br /> (d) such withdrawal from Coverage shall be effective <br />on the first day of a Coverage Period; and <br /> <br />37 <br /> <br />39 <br /> <br />41 <br /> <br />43 <br /> <br /> (e) such withdrawal shall not result in the number of <br />Participants becoming fewer than five; provided that, in <br />the event that deposit of security for Basic Premium or <br />optional prepayment by all Participants is provided for <br />pursuant to Section 11.2 hereof, a Participant may withdraw <br />regardless of the remaining nun~ber of Participants. <br /> <br /> In no event shall withdrawal from Coverage release a <br />45 Participant from its obligation to pay damages resulting from <br /> default under the terms of this Agreement which is not remedied <br />47 by payment of Termination Premium or from its obligation to pay <br /> Pure Premium Adjustments with respect to Claims within the <br />49 scope of Coverage prior to such withdrawal. The Authority <br /> shall continue to pay Settlements of Claims relating to the <br /> <br /> 33 <br />2658002/2 <br /> <br /> <br />