Common use of Return Commissions Clause in Contracts

Return Commissions. In the event that such coverages are cancelled or modified (regardless of whether such cancellation or modification is instituted by the underwriting insurance company, the insured, a premium finance entity, or any other person), the Producer agrees to pay return commissions to the Agency on any return premiums at the same rate at which such return premiums are calculated. The obligations of the Producer to return commissions on cancelled or modified policies shall survive termination of this Agreement for any reason.