Agent-Hierarchy definition

Agent-Hierarchy means, in reference to any Insurance Agent, such --------------- Insurance Agent together with all other Persons (including the SGA thereof and all managing general agents, general agents, supervisory agents, Insurance Agents and similar professional relations) which, under existing arrangements with such Insurance Agent, share directly or indirectly (i) in the proceeds of any commissions payable to such Insurance Agent by AIL, including any amounts paid or advanced that give rise to any Receivable, and (ii) in the obligations and liabilities relating to any Receivable arising in connection with the cancellation or termination of the underlying Insurance Product.
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Agent-Hierarchy means Writing Agents, Writing Agent Uplines, Servicing Agents, and Assignees.
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Agent-Hierarchy means, in reference to any Insurance Agent, such Insurance Agent together with all other Persons (including the SGA thereof and all managing general agents, general agents, supervisory agents, Insurance Agents and similar professional relations) which, under existing arrangements with such Insurance Agent, share directly or indirectly (i) in the proceeds of any commissions payable to such Insurance Agent by AIL, including any amounts paid or advanced that give rise to any Receivable, and (ii) in the obligations and liabilities relating to any Receivable arising in connection with the cancellation or termination of the underlying Insurance Product.
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Examples of Agent-Hierarchy in a sentence

  • Notwithstanding the calculation of any Premium Interest in reference to the commissions payable to any Obligor or its Agent-Hierarchy, the transfer to the Purchaser hereunder of any Premium Interest shall constitute the transfer of an asset of the Seller (which it shall have acquired from AIL), and the Purchaser assumes no obligation or liability to make any payment to any Obligor or its Agent-Hierarchy in respect of any commission or similar payment due to such Obligor or Agent-Hierarchy.

  • The Seller represents and warrants that the Agent and the Purchasers shall have a first priority ownership interest in each Premium Interest, free and clear of any Adverse Claim, including, without limitation, any claim of any Policy Holder, any Obligor and any member of an Agent-Hierarchy.

  • Any such obligation to pay any commission or similar fee to any Obligor or Agent-Hierarchy shall be and remain an obligation or AIL.

  • Any such obligation to pay any commission or similar fee to any Obligor or Agent-Hierarchy shall be and remain an obligation of AIL.

  • The Seller represents and warrants that the Purchaser shall have a first priority ownership interest in each Premium Interest, free and clear of any Adverse Claim, including, without limitation, any claim of any Policy Holder, any Obligor and any member of an Agent-Hierarchy.