Common use of Agency Distribution of Fixed Contracts Clause in Contracts

Agency Distribution of Fixed Contracts. In cases in which Broker intends to distribute Fixed Contracts through an Agency, before a subagent is permitted to solicit Contracts, Broker or that Agency shall have entered into a written agreement with the subagent pursuant to which the subagent: (a) is authorized to deliver policies only upon the payment to Company or the appropriate Affiliate, or Broker of the premiums due thereon and upon compliance with the terms, conditions and provisions of such policies; (b) shall promptly remit to the Broker or the Agency all funds collected on Company's or its Affiliates' behalf; (c) shall otherwise act only pursuant to the limited authority granted to that Agency hereunder and shall comply with all of the duties and obligations of the Broker hereunder and the rules of Company or its Affiliates; and (d) agrees to Company's right to offset from any compensation due the subagent any indebtedness due from the subagent to Company or its Affiliates and to chargeback compensation under Company's or its Affiliates' rules. The Broker shall promptly remit to Company all funds collected on behalf of Company or its Affiliates.

Agency Distribution of Fixed Contracts. In cases in which Broker -------------------------------------- intends to distribute Fixed Contracts through an Agency, before a subagent is permitted to solicit Contracts, Broker or that Agency shall have entered into a written agreement with the subagent pursuant to which the subagent: (a) is authorized to deliver policies only upon the payment to Company or the appropriate Affiliate, or Broker of the premiums due thereon and upon compliance with the terms, conditions and provisions of such policies; (b) shall promptly remit to the Broker or the Agency all funds collected on Company's or its Affiliates' behalf; (c) shall otherwise act only pursuant to the limited authority granted to that Agency hereunder and shall comply with all of the duties and obligations of the Broker hereunder and the rules of Company or its Affiliates; and (d) agrees to Company's right to offset from any compensation due the subagent any indebtedness due from the subagent to Company or its Affiliates and to chargeback compensation under Company's or its Affiliates' rules. The Broker shall promptly remit to Company all funds collected on behalf of Company or its Affiliates.

Agency Distribution of Fixed Contracts. In cases in which Broker ______________________________________ intends to distribute Fixed Contracts through an Agency, before a subagent is permitted to solicit Contracts, Broker or that Agency shall have entered into a written agreement with the subagent pursuant to which the subagent: (a) is authorized to deliver policies only upon the payment to Company or the appropriate Affiliate, or Broker of the premiums due thereon and upon compliance with the terms, conditions and provisions of such policies; (b) shall promptly remit to the Broker or the Agency all funds collected on Company's or its Affiliates' behalf; (c) shall otherwise act only pursuant to the limited authority granted to that Agency hereunder and shall comply with all of the duties and obligations of the Broker hereunder and the rules of Company or its Affiliates; and (d) agrees to Company's right to offset from any compensation due the subagent any indebtedness due from the subagent to Company or its Affiliates and to chargeback compensation under Company's or its Affiliates' rules. The Broker shall promptly remit to Company all funds collected on behalf of Company or its Affiliates.