USPA Clause Samples

USPA s commissions shall vest as follows: Commissions on first and subsequent year payments will be paid to USPA so long as this Agreement remains in full force and effect or so long thereafter as USPA continues membership in the NASD. If USPA should voluntarily terminate its membership in the NASD, A I M reserves the right to assign Plan accounts as to which USPA is the Dealer of Record and the right to receive commissions with respect to such Plan accounts to one of its active dealers. Nevertheless, A I M in its sole discretion, may pay commissions to USPA on Plan payments made with respect to such Plan accounts subsequent to such voluntary termination by USPA. Notwithstanding the above, in the event USPA's membership in the NASD is discontinued or suspended because of disciplinary proceedings by the NASD, the Securities and Exchange Commission, or other regulatory bodies, no commissions will be paid on any Investor's payments received during the period of a suspension or after the effective date of an expulsion or revocation of a membership; provided, however, that in the event USPA's NASD membership is thereafter reinstated in good standing, or if such disciplinary action by another regulatory body is thereafter terminated by same, payment of such commissions to USPA shall then resume, if such payment resumption is allowable under applicable law, rules, or regulations.