Suspension of Authority. In addition to Company’s right to terminate this Agreement pursuant to Section X, Company shall have the right to elect to immediately suspend the authority of Producer. If suspended pursuant to the terms of this Section, Producer may not obligate Company in any way under the terms of this Agreement. Company’s right to suspend the authority of Producer is not intended to be an exclusive remedy and shall not restrict the ability to terminate the Producer subsequently.
Suspension of Authority. FCIC may suspend the authority of the Company to operate under this Agreement for cause due to a material failure to perform or comply with obligations under this Agreement. If this Agreement is suspended for cause:
Suspension of Authority. (a) The Company shall have the unilateral right, exercisable in its sole and absolute discretion, to suspend the authority of the General Agent to act for or on behalf of the Company during the pendency of any dispute between the Company and the General Agent arising out of or in connection with any alleged breach or failure of performance on the part of the General Agent under this Agreement, including, but not limited to the General Agent’s (i) failure to follow or adhere to those limitations on its underwriting authority, or (ii) unauthorized delegation of binding authority. Nothing in the Company’s suspension of the authority of the General Agent under this Agreement shall [**] on the [**].
Suspension of Authority. The right to solicit and place new business, renewals or any modification of existing business may at the sole discretion of IMSG be suspended in the event of default by Producer.
Suspension of Authority. The right to solicit and place new business, renewal, or any modification of existing business may at the sole discretion of the MGA be suspended in the event of default by the Producer.
Suspension of Authority. (a) Company shall have the unilateral right, exercisable in its sole and absolute discretion, to suspend the authority of General Agent pursuant to this Agreement during the pendency of any dispute between Company and General Agent arising out of or in connection with any alleged breach or failure of performance or any material uncertainty of future performance on the part of General Agent under this Agreement, including, but not limited to: 8 Managing General Agency Agreement Effective July 1, 2006 (i) General Agent’s failure to follow or adhere to limitations on its underwriting authority; (ii) General Agent’s unauthorized delegation of binding authority; (iii) General Agent’s failure to follow or adhere to claims handling guidelines of Company; or (iv) impairment of General Agent’s resources to perform. (b) Upon receiving notice of any suspension of authority, General Agent shall have [**] days to cure any underlying cause of such dispute; otherwise, upon the expiration of such [**] days, Company may exercise its unilateral right to suspend the authority of General Agent. Company’s suspension of the authority of General Agent under this Agreement in good faith shall [**]. (c) Company has and retains the right, exercisable in its sole and absolute discretion, to restrict the premium volume of the business produced by General Agent under this Agreement at any time. However, in the event that Company exercises its right under this Section (c) of Article 5.16, the [**] day period for notice under Article 4 Non-competition shall be waived. Article 6 – Directors and Employees Neither General Agent nor Company shall permit any individual representing the other Party or any Agent or Broker to serve on its or any affiliated entity’s board of directors and shall not jointly employ any such individual. Article 7 – Compensation 7.1
Suspension of Authority. The right to solicit and place new business, renewals or any modification of existing business may at the sole discretion of MBIA be suspended in the event of default by Producer.
Suspension of Authority. 1. Company shall have the right, at Company’s sole and absolute discretion, to elect to immediately suspend the authority of Broker under this Agreement. If suspended pursuant to the terms of this Section, Broker may not obligate Company in any way under the terms of this Agreement. Company’s right to suspend the authority of Broker is not intended to be an exclusive remedy, and Company reserves all of its rights and remedies, both in equity and at law, including the right to terminate Broker.
Suspension of Authority. Company may, for any reason or for no reason, suspend Agency’s authority granted pursuant to this Agreement for up to one hundred eighty (180) days upon written notice to Agency. Upon receiving such notice, Agency shall immediately cease and desist from soliciting applications for Citizens Policies or representing itself as having the authority to represent Company until such suspension is lifted by Company.
Suspension of Authority. The Company may, at its sole discretion, withdraw, limit, suspend or otherwise modify all or a portion of the Broker’s authority under this Agreement by giving the Broker thirty (30) days’ written notice. The Company may immediately, upon written notice, suspend the Broker’s authority in the event of the occurrence of any of the events described under Sections 8(c) through (m) of the Agreement. In addition, Company may restrict the Broker’s binding authority effective immediately upon written notice to the Broker.
