Common use of Compensation Not Payable Clause in Contracts

Compensation Not Payable. No compensation shall be payable, and any compensation already paid shall be returned to Company immediately on request, under each of the following conditions: 1) if Company or its Affiliates, in their sole discretion, determine not to issue the Contract applied for; 2) if Company or its Affiliates refund the premium paid by the applicant, upon the exercise of applicant's right of withdrawal pursuant to any "free-look" privilege; 3) if Company or its Affiliates refund the premium paid by applicant as a result of the resolution of a consumer complaint, recognizing that Company and its Affiliates have sole discretion to refund premiums paid by applicants; or 4) if Company or its Affiliates determine that any person signing an application who is required to be registered and/or licensed or any other person or entity receiving compensation for soliciting purchases of the Contracts is not duly registered and/or licensed to sell the Contracts in the jurisdiction of such attempted sale.

Compensation Not Payable. No compensation shall be payable, and any ________________________ compensation already paid shall be returned to Company immediately on request, under each of the following conditions: 1) if Company or its Affiliates, in their sole discretion, determine not to issue the Contract applied for; 2) if Company or its Affiliates refund the premium paid by the applicant, upon the exercise of applicant's right of withdrawal pursuant to any "free-look" privilege; 3) if Company or its Affiliates refund the premium paid by applicant as a result of the resolution of a consumer complaint, recognizing that Company and its Affiliates have sole discretion to refund premiums paid by applicants; or 4) if Company or its Affiliates determine that any person signing an application who is required to be registered and/or licensed or any other person or entity receiving compensation for soliciting purchases of the Contracts is not duly registered and/or licensed to sell the Contracts in the jurisdiction of such attempted sale.

Compensation Not Payable. No compensation shall be payable, and any ------------------------ compensation already paid shall be returned to Company immediately on request, under each of the following conditions: 1) if Company or its Affiliates, in their sole discretion, determine not to issue the Contract applied for; 2) if Company or its Affiliates refund the premium paid by the applicant, upon the exercise of applicant's right of withdrawal pursuant to any "free-look" privilege; 3) if Company or its Affiliates refund the premium paid by applicant as a result of the resolution of a consumer complaint, recognizing that Company and its Affiliates have sole discretion to refund premiums paid by applicants; or 4) if Company or its Affiliates determine that any person signing an application who is required to be registered and/or licensed or any other person or entity receiving compensation for soliciting purchases of the Contracts is not duly registered and/or licensed to sell the Contracts in the jurisdiction of such attempted sale.