35 Coverage Contribution for the first month’s premium, coverage will either terminate or will be retroactively cancelled. The Qualified Beneficiary shall have a thirty (30) day grace period from the due date (the first of each month) to make the Continuatio n Coverage Contributions due for such m onth. Continuation Coverage Contributions must be postmarked on or before the end of the thirty (30) day grace period. The thirty (30) day grace period shall not apply to the forty - five (45) day perio d for payment of COBRA premiums as applicable to initial elections. If Continuation Coverage Contributions are not made on a timely basis, COBRA Continuation Coverage will terminate as of the last day of the month for which such premiums were made on a timely basis. Once terminated, COBRA Continuation Coverage shall not be reinstated. The Continuation Coverage Contribution shall be on e hundred percent (100%) of the cost of coverage plus a two percent (2%) administrative fee for a total contribution of one hundred two percent (102%) of the cost of coverage. If timely payment of the Continuation Coverage Contribution is made to the Plan in an amount that is not significantly less than the amount due for a period of coverage, then the amount paid is deemed to satisfy the Plan ’s requirement for the amount that must be paid for Continuation Coverage Contribution, unless the Plan notifies the Qualified Beneficiary of the amount of the deficiency and grants a reasonable period of time (thirty (30) days) for payment of the deficiency to be made. For purposes of this Section of this Plan, an amount not significantly less than the amount the Plan requires to be paid shall be defined as the lesser of fifty dollars ($50) or ten percent (10%) of the required payment amount. Limitation on Qualified Beneficiary's Rights to COBRA Continuation Coverage If a Qualified Beneficiary loses, or will lose health coverage under the Plan as a result of divorce, legal separation or ceasing to be a Dependent, such Qualified Beneficiary or the Covered Employee must notify the Plan Administrator within a maximum of sixty (60) days of the divorce, legal separation or loss of Dependent status. Such notice shall be required to comply with the Plan ’s notice procedures as contemplated by this Plan, in accordance with applicable law. Failure to make timely notification shall result in a termination of the Qualified Beneficiary’s rights to COBRA Continuation Coverage under this Plan ; such right shall not be reinstated. A Qualified Beneficiary must notify the Plan Administrator of the birth to, adoption or placement for adoption of a child with a Covered Employee receiving COBRA Continuation Coverage. The notice must be provided within a maximum of thirty (30) days of the child’s birth, adoption or placement for adoption with the Qualified Beneficiary, subject to the Plan ’s notice procedures . Extension of COBRA Continuation Coverage Period If a second Qualifying Event that is not a Termination of Employment or reduction in hours occurs during an eighteen (18) month extension period explained above , coverage may be continued for a maximum of thirty - six (36) months from the date of the first Qualifying Event for the affected Qualifying Dependent. A second Qualifying Event will result in an extension of the initial Continuation Coverage Period if such Qualifying Event would have resulted in a loss of coverage under the Plan had the first Qualifying Event not occurred. Such extension of COBRA Continuation Coverage applies only to Qualifying Dependents. Therefore, such extension would apply to a child