COMMISSIONS and REMITTANCES Sample Clauses

COMMISSIONS and REMITTANCES. Vision agrees to pay Producer the commissions as set forth on Schedule A in the manner and at such times as specified in this section as Producer's full and sole compensation for the performance of Producer's duties and obligations under this Agreement. Producer is liable and obligated to pay Vision, its successors and assigns, in El Paso, Texas, all premiums and other sums due or to become due hereunder in respect to any Policies and Renewals. If Vision’s Statement of Account or Commission Statement (collectively, the “Account”), reflects a balance due to Vision, Producer agrees to pay such Account as approved by Vision, within 10 days from the date of Producer's receipt of Vision’s notice of such approval. Notwithstanding the foregoing, Producer may dispute any items shown on the Account by notifying Vision in writing at the time of payment so long as Producer pays to Vision all undisputed amounts shown on such Account. Producer agrees to pay to Vision any disputed items, or the portion thereof which are subsequently determined by Vision as correct, within 3 days of receipt of written notice thereof from Vision. Vision is entitled to terminate this Agreement, if Producer delays payment of any sum due Vision based upon a disputed item rejected by Vision, as determined by Vision in its sole discretion. The omission of any items from an Account rendered by Vision does not constitute a waiver or otherwise prejudice the rights of either party in respect to any sums owed under any such rendered Account. All past due balances bear interest at 1.5% per month until paid in full.