Examples of 2009 Agency Agreement in a sentence
IHS argues in this appeal that the trial court was correct in holding that BlueCross breached the 2009 Agency Agreement by retroactively reducing renewal commission rates on existing policies and by paying commissions directly to IHS subagents after the termination of the parties’ agreement.
The intermediate appellate court also affirmed the holding that BlueCross breached the 2009 Agency Agreement by paying commissions directly to the subagents after the contract was terminated because IHS remained able, entitled, and available to receive such payments.
Post-termination Payments Directly to Subagents BlueCross next argues that the lower courts erred in holding that it breached the 2009 Agency Agreement by refusing to pay post-termination commissions to IHS and instead paying those commissions directly to the subagents associated with the policies.
Therefore, we reverse the lower court decisions and conclude that BlueCross did not breach the 2009 Agency Agreement by changing the renewal-rate provision and making its May 2011 renewal rates applicable to existing insurance policies.
IHS also asserts that the Court of Appeals erred in reversing the trial court’s award of attorney fees under the indemnity provision in the 2009 Agency Agreement.
BlueCross argued that this testimony was inadmissible in light of the integration clause in the parties’ 2009 Agency Agreement and the parol evidence rule, which generally prohibits the use of extrinsic evidence of pre-contract negotiations in order to vary or contradict the terms of a fully integrated contract.
Relying on the text of the 2009 Agency Agreement and the testimony offered by IHS, the trial court held that BlueCross breachedthe agreement by: (1) applying the May 2011 reduced commission rates to policies that were already in effect; (2) paying post-termination commissions directly to subagents rather than IHS, and (3) systemically underpaying IHS commissions during the entirety of the parties’ 13-year relationship by virtue of BlueCross’s flawed commission accounting system.
ISSUES ON APPEAL On appeal, BlueCross asserts that the trial court erred in holding that the 2009 Agency Agreement (1) precluded BlueCross from applying new renewal commission rates to existing insurance policies, (2) precluded BlueCross from paying commissionsdirectly to IHS’s subagents after termination of the agreement, and (3) provided for an award of attorney fees for suits between the contracting parties.
The Agents and the Required Lenders hereby acknowledge and agree that the sale of the inventory and furniture, fixtures and equipment located at 567 of the Domestic Borrowers’ retail store locations and distribution centers pursuant to the 2009 Agency Agreement, as approved by the US Bankruptcy Court pursuant to that certain Order Approving Agency Agreement, Store Closing Sales and Related Relief by the US Bankruptcy Court dated January 16, 2009, is a Permitted Sale under the DIP Credit Agreement.
Issues on Appeal On appeal, BlueCross asserts that the trial court erred in holding that the 2009 Agency Agreement (1) precluded BlueCross from applying new renewal commission rates to existing insurance policies, (2) precluded BlueCross from paying commissionsdirectly to IHS’s subagents after termination of the agreement, and (3) provided for an award of attorney fees for suits between the contracting parties.