Common use of ADMINISTRATIVE PAYMENT Clause in Contracts

ADMINISTRATIVE PAYMENT. In addition to any other rights of MGA set forth herein or in the Documents, MGA may require payment by the AGENCY or the AGENT of an amount not to exceed the gross amount of any commission derived by the AGENCY or the Agent on any CARRIERS policy or policies written or bound in violation of this AGREEMENT or the Documents, applicable Statutes, Insurance Codes, or Insurance Regulations. Failure of the AGENCY or the Agent to make such payment upon written demand by MGA is grounds for immediate termination of the AGREEMENT by MGA.

ADMINISTRATIVE PAYMENT. In addition to any other rights of MGA set forth herein or in the Documents, MGA may require payment by the AGENCY Agency or the AGENT Agent of an amount not to exceed the gross amount of any commission derived by the AGENCY Agency or the Agent on any CARRIERS Company policy or policies written or bound in violation of this AGREEMENT Agreement or the Documents, applicable Statutes, Insurance Codes, or Insurance Regulations. Failure of the AGENCY or the Agent to make such payment upon written demand by MGA is grounds for immediate termination of the AGREEMENT by MGA.,

ADMINISTRATIVE PAYMENT. In addition to any other rights of MGA set forth herein or in the Documents, MGA may require payment by the AGENCY Agency or the AGENT Agent of an amount not to exceed the gross amount of any commission derived by the AGENCY Agency or the Agent on any CARRIERS Company policy or policies written or bound in violation of this AGREEMENT Agreement or the Documents, applicable StatutesStatute, Insurance CodesCode, or Insurance Regulations. Failure of the AGENCY Agency or the Agent to make such payment upon written demand by MGA is grounds for immediate termination of the AGREEMENT Agreement by MGA.