Common use of Litigation and Arbitration Clause in Contracts

Litigation and Arbitration. AUL shall promptly notify the Company of the initiation of any suit, arbitration proceeding or other legal proceeding against the Company or AUL served on AUL, or of any written or significant oral threat to initiate any suit, arbitration proceeding or other legal proceeding against the Company or AUL received by AUL. AUL shall promptly supply the Company with a description of the nature of such claim, suit, arbitration proceeding or other legal proceeding. AUL shall manage the investigation, negotiation, settlement or defense of any legal proceedings in connection with Covered Contracts or Outward Reinsurance. Both the selection and compensation of attorneys to represent the Company in any legal proceeding shall be approved in writing by the Company such approval not to be unreasonably withheld. The Company shall have the right after consultation with AUL to terminate the employment of any attorney, which in the Company’s reasonable opinion, has not performed in a satisfactory manner.

Litigation and Arbitration. AUL AUI shall promptly notify the Company of the initiation of any suit, arbitration proceeding or other legal proceeding against the Company or AUL AUI served on AULAUI, or of any written or significant oral threat to initiate any suit, arbitration proceeding or other legal proceeding against the Company or AUL AUI received by AULAUI. AUL AUI shall promptly supply the Company with a description of the nature of such claim, suit, arbitration proceeding or other legal proceeding. AUL AUI shall manage the investigation, negotiation, settlement or defense of any legal proceedings in connection with Covered Contracts Business or Outward Reinsurance. Both the selection and compensation of attorneys to represent the Company in any legal proceeding shall be approved in writing by the Company such approval not to be unreasonably withheld. The Company shall have the right after consultation with AUL AUI to terminate the employment of any attorney, which in the Company’s 's reasonable opinion, has not performed in a satisfactory manner.

Litigation and Arbitration. AUL shall promptly notify the Company of the initiation of any suit, arbitration proceeding or other legal proceeding against the Company or AUL served on AUL, or of any written or significant oral threat to initiate any suit, arbitration proceeding or other legal proceeding against the Company or AUL received by AUL. AUL shall promptly supply the Company with a description of the nature of such claim, suit, arbitration proceeding or other legal proceeding. AUL shall manage the investigation, negotiation, settlement or defense of any legal proceedings in connection with Covered Contracts Business or Outward Reinsurance. Both the selection and compensation of attorneys to represent the Company in any legal proceeding shall be approved in writing by the Company such approval not to be unreasonably withheld. The Company shall have the right after consultation with AUL to terminate the employment of any attorney, which in the Company’s reasonable opinion, has not performed in a satisfactory manner.