Common use of Substitute Products Clause in Contracts

Substitute Products. Each of the Affiliate Insurance Companies and the Affiliate Underwriter hereby represent and warrant to Distributor that (a) such Affiliate Insurance Company has a financial strength rating of at least Aa3 by ▇▇▇▇▇’▇ Investors Service, Inc. (or any successor thereto) or at least AA- by Standard and Poor’s (or any successor thereto); and (b) each Substitute Product is substantially the same the corresponding Existing Product in the terms, total compensation, consumer pricing, wholesaler coverage, training and support, features and service standards and metrics. Based upon such representations and warranties, Distributor hereby agrees, effective as of the date written above, that each of the Substitute Products shall be deemed Products to be distributed by Distributor. Compensation for the Substitute Product shall be as reflected in the Compensation Schedule attached hereto as Schedule B. PFS Investments (Primerica)