Agency Xxxx Policies a) Retailer shall pay to Safehold all premiums due on coverages bound or written hereunder whether new, renewal, or by endorsement.
Agency Xxxx Policies. Safehold shall, in consideration of the above services, grant to Retailer commissions earned on insurance placed under the provisions of this Agreement. Parties agree to payment of a standard commission rate by program as negotiated and evidenced in writing on a program by program basis, with payment due to Safehold Special Risk, Inc. by the 10th of the month following activity as determined by the following:
Agency Xxxx Policies. (i) For agency xxxx policies for which premiums are paid in full at inception rather than in installments, regardless of when Commissions from such policies are received: (A) if the policy effective date is before the Closing Date, and the premium was billed before the Closing Date, all Commissions for such policies will be Sellers’ property; and (B) if the policy effective date is on or after the Closing Date, or if the premium is billed on or after the Closing Date, all Commissions for those policies will be Buyer’s property.
Agency Xxxx Policies. Any Policies for which a Franchise Agent is responsible for all or any part of premium or fee billing and collection.
Agency Xxxx Policies. (i)For agency xxxx policies for which premiums are paid in full at inception rather than in installments, regardless of when Commissions from such policies are received: (A) if the policy effective date is before the Closing Date, and the premium was billed before the Closing Date, all Commissions for such policies will be Sellers’ property; and (B) if the policy effective date is on or after the Closing Date, or if the premium is billed on or after the Closing Date, all Commissions for those policies will be Buyer’s property. (ii)For agency xxxx policies for which premiums are paid in installments during the policy period, regardless of when Commissions from such policies are received: (A) if an installment effective date (the date on which payment is due) is before the Closing Date, and the installment was billed before the Closing Date, then all Commissions for that installment will be Sellers’ property; and (B) if an installment effective date is on or after the Closing Date, or the installment is billed on or after the Closing Date, all Commissions for that installment will be Buyer’s property. 5 FINAL EXECUTION VERSION (b)Direct Xxxx Policies. Sellers will own all Commissions on direct xxxx policies actually received by Sellers from Carriers before the Closing Date, and Buyer will own all such Commissions actually received from Carriers on or after the Closing Date, regardless of when billed by the Carrier. (c)
