New Policyholder definition
Examples of New Policyholder in a sentence
If such New Policyholder subsequently purchases automobile insurance from The Hartford as a result of a Co-Developed Program, Juno will receive an additional One-Time Acquisition Fee of $[****].
The Variable Payment for each quarter will be the sum of (i) all One-Time Acquisition Fees (as defined in Section 5.3(a)) earned by Juno from the Effective Date through such calendar quarter, and (ii) all Ongoing Royalties (as defined in Section 5.3(b)) generated by Juno from the Effective Date through such calendar quarter, it being understood that no Variable Payment shall be owed to Juno with respect to a New Policyholder until such New Policyholder makes his first payment to The Hartford.
The Hartford represents and warrants to Juno that The Hartford's standard business practice is to solicit such first payment within thirty days of the effective date of a new insurance policy to a New Policyholder.
All earned One-Time Acquisition Fees will be due and payable to Juno regardless of whether the New Policyholder cancels a Hartford Product, and applicable Ongoing Royalties will be due and payable until such cancellation.
No additional One-Time Acquisition fee shall be paid to Juno if such New Policyholder also purchases another Personal Lines product, whether coincident with or subsequent to the purchase of an automobile insurance policy.