Common use of CONTROL OF EXPIRATIONS Clause in Contracts

CONTROL OF EXPIRATIONS. 8.1 The use and control of expirations and renewals of policies written pursuant to this Agreement on all Subject Business (including, for the avoidance of any doubt, the use or exploitation of any lists of policyholders, brokers, Producers or sub-Producers with respect to any Subject Business written pursuant to this Agreement for renewals, marketing or other commercial revenue-producing activities) (the “Expiration and Renewal Rights”) by the Managing General Agent or by the Producers appointed by the Managing General Agent shall remain the property of the Managing General Agent to the extent allowed by applicable law and contracts, provided the Managing General Agent is not in material default under this Agreement and has rendered and continues to render timely accounts and payments of all premium and other funds for which the Managing General Agent may be liable to the Company. 8.2 The Managing General Agent shall be the broker of record on all Policies produced pursuant to or under this Agreement and the Company shall not refer to or communicate any such Expiration and Renewal Rights to any other agent, broker, producer or company. In the event the Managing General Agent is in material default of its obligations hereunder and does not cure such default as required by Section 14.3, the right to use such Expiration and Renewal Rights shall vest with the Company until such time as any such accounts have been rendered and such premiums remitted. Failure to pay premium because of good faith differences in the accounting records of Managing General Agent and the Company will not be considered a failure to pay and will not give rise to a right to terminate or suspend the Expiration and Renewal Rights by the Company. 8.3 The Managing General Agent assigns to the Company as security for, but not in payment of, the obligations of the Managing General Agent under this Agreement all sums due or to become due to the Managing General Agent from any insured(s) for whom the Managing General Agent or Producer(s) provided a Policy on behalf of the Company. In the event of the Managing General Agent’s uncured material default of its obligations hereunder, the Company shall have full authority to demand and collect such sums and the Managing General Agent or Agent(s) shall not be entitled to any commissions and/or Policy fees on any premium so collected by the Company. 8.4 Subject to the forgoing limitations, the Managing General Agent pledges and/or grants to the Company a security interest in any and all of the Managing General Agent’s Expiration and Renewal Rights, including but not limited to, the ownership and exclusive use of such Expiration and Renewal Rights, so as to further secure payment of any and all sums due the Company under this Agreement. The Company is entitled to file the relevant portions of this Agreement as a financing statement reflecting its security interest and may also assign any rights it acquires to the Reinsurer. In the event of material uncured default, the Company shall have the rights of the holder of a security interest granted by law, including but not limited to the rights of foreclosure to effectuate such security interest, and the Managing General Agent xxxxxx agrees to surrender possession of any such Expiration and Renewal peaceably to the Company upon demand.

CONTROL OF EXPIRATIONS. 8.1 The use and control of expirations and renewals of policies written pursuant to this Agreement on all Subject Business (including, for the avoidance of any doubt, the use or exploitation of any lists of policyholders, brokers, Producers or sub-Producers with respect to any Subject Business written pursuant to this Agreement for renewals, marketing or other commercial revenue-producing activities) (the “Expiration and Renewal Rights”) by the Managing General Agent or by the Producers appointed by the Managing General Agent shall remain the property of the Managing General Agent to the extent allowed by applicable law and contracts, provided the Managing General Agent is not in material default under this Agreement and has rendered and continues to render timely accounts and payments of all premium and other funds for which the Managing General Agent may be liable to the Company. 8.2 The Managing General Agent shall be the broker of record on all Policies produced pursuant to or under this Agreement and the Company shall not refer to or communicate any such Expiration and Renewal Rights to any other agent, broker, producer or company. In the event the Managing General Agent is in material default of its obligations hereunder and does not cure such default as required by Section 14.3, the right to use such Expiration and Renewal Rights shall vest with the Company until such time as any such accounts have been rendered and such premiums remitted. Failure to pay premium because of good faith differences in the accounting records of Managing General Agent and the Company will not be considered a failure to pay and will not give rise to a right to terminate or suspend the Expiration and Renewal Rights by the Company. 8.3 The Managing General Agent assigns to the Company as security for, but not in payment of, the obligations of the Managing General Agent under this Agreement all sums due or to become due to the Managing General Agent from any insured(s) for whom the Managing General Agent or Producer(s) provided a Policy on behalf of the Company. In the event of the Managing General Agent’s uncured material default of its obligations hereunder, the Company shall have full authority to demand and collect such sums and the Managing General Agent or Agent(s) shall not be entitled to any commissions and/or Policy fees on any premium so collected by the Company. 8.4 Subject to the forgoing limitations, the Managing General Agent pledges and/or grants to the Company a security interest in any and all of the Managing General Agent’s Expiration and Renewal Rights, including but not limited to, the ownership and exclusive use of such Expiration and Renewal Rights, so as to further secure payment of any and all sums due the Company under this Agreement. The Company is entitled to file the relevant portions of this Agreement as a financing statement reflecting its security interest and may also assign any rights it acquires to the Reinsurer. In the event of material uncured default, the Company shall have the rights of the holder of a security interest granted by law, including but not limited to the rights of foreclosure to effectuate such security interest, and the Managing General Agent xxxxxx agrees to surrender possession of any such Expiration and Renewal peaceably to the Company upon demand. 8.5 The Managing General Agent shall be solely responsible for procuring any renewal, extension, or new policy of insurance that may be required by any state or rule or regulation of any state insurance department with respect to Policies originally written directly for the Company. The Managing General Agent shall indemnify the Company and hold it harmless from any loss, damage, cost, claim or expense whatsoever that the Company may incur, or for which it may become liable, as a result of such Managing General Agent’s failure, refusal or neglect to fulfill such responsibility. At renewal of any Policy issued by the Managing General Agent, the Managing General Agent shall be responsible to the insured for the renewal or non-renewal of the Policy and shall timely communicate any renewal quote or notice of non-renewal to the insured to preclude the extension of coverage beyond the expiration date of the current in-force Policy.

CONTROL OF EXPIRATIONS. 8.1 The Managing General Agent’s records and the use and control of expirations and renewals of policies written pursuant to this Agreement on all Subject Business (including, for the avoidance of any doubt, business produced by the use or exploitation of any lists of policyholders, brokers, Producers or sub-Producers with respect to any Subject Business written pursuant to this Agreement for renewals, marketing or other commercial revenue-producing activities) (the “Expiration and Renewal Rights”) Agents appointed by the Managing General Agent or by the Producers appointed by Company at the Managing General Agent Agent’s request shall remain the property of the Managing General Agent to and be left in the extent allowed by applicable law and contractsManaging General Agent’s undisputed possession, provided the Managing General Agent is not in material default under this Agreement and has rendered accounts for and continues to render timely accounts and payments of pays over all premium and other funds sums for which the Managing General Agent may be liable to the Company. 8.2 The Ownership of the records, use and control of expirations and the goodwill relating thereto shall be vested in the Managing General Agent shall be the broker of record on all Policies produced pursuant to or under this Agreement and the Company shall not refer to or communicate any such Expiration and Renewal Rights to any other agentAgent; provided, brokerhowever, producer or company. In in the event the Managing General Agent is in material default of its obligations hereunder hereunder, and does not cure remedy such default as required by Section 14.3within a reasonable time and does not account for and pay all premiums or other sums for which it may be liable to the company within a reasonable time following the due date, the right to such records, use such Expiration and Renewal Rights shall vest with the Company until such time as any such accounts have been rendered and such premiums remitted. Failure to pay premium because control of good faith differences in the accounting records of Managing General Agent expirations and the Company good will not be considered a failure to pay and will not give rise to a right to terminate or suspend relating thereto shall become the Expiration and Renewal Rights by the property of Company. 8.3 The Managing General Agent assigns to the Company as security for, but not in payment of, the obligations of the Managing General Agent under this Agreement all sums due or to become due to the Managing General Agent from any insured(s) for whom the Managing General Agent or Producer(sAgent(s) provided a Policy on behalf of the Company. In the event of the Managing General Agent’s uncured material default of its obligations hereunderdefault, the Company shall have full authority to demand and collect such sums and the Managing General Agent or Agent(s) shall not be entitled to any commissions and/or Policy policy fees on any premium so collected by the Company. The Company may also assign any rights it acquires to the Reinsurer. 8.4 Subject to the forgoing limitations, the The Managing General Agent pledges and/or grants to the Company a security interest in any and all of the Managing General Agent’s Expiration and Renewal Rights, including but not limited to, the ownership and exclusive use of such Expiration and Renewal RightsCompany, so as to further secure payment of any and all sums due the Company under this Agreement. The Company is entitled to file , any and all of the relevant portions Managing General Agent’s records of this Agreement as a financing statement reflecting its security interest expirations of Policies, including, but not limited to, the ownership and may also assign any rights it acquires to the Reinsurerexclusive use of said expirations. In the event of material uncured default, the Company shall have the rights of the holder of a security interest granted by law, including but not limited to the rights of foreclosure to effectuate such security interest, and the Managing General Agent xxxxxx hereby agrees to peaceably surrender possession of any such Expiration and Renewal peaceably records to the Company upon demand.

CONTROL OF EXPIRATIONS. 8.1 The Managing General Agent's records and the use and control of expirations and renewals of policies written pursuant to this Agreement on all Subject Business (including, for the avoidance of any doubt, business produced by the use or exploitation of any lists of policyholders, brokers, Producers or sub-Producers with respect to any Subject Business written pursuant to this Agreement for renewals, marketing or other commercial revenue-producing activities) (the “Expiration and Renewal Rights”) Agents appointed by the Managing General Agent or by the Producers appointed by Company at the Managing General Agent Agent's request shall remain the property of the Managing General Agent to and be left in the extent allowed by applicable law and contractsManaging General Agent's undisputed possession, provided the Managing General Agent is not in material default under this Agreement and has rendered accounts for and continues to render timely accounts and payments of pays over all premium and other funds sums for which the Managing General Agent may be liable to the Company. 8.2 The Ownership of the records, use and control of expirations and the goodwill relating thereto shall be vested in the Managing General Agent shall be the broker of record on all Policies produced pursuant to or under this Agreement and the Company shall not refer to or communicate any such Expiration and Renewal Rights to any other agentAgent, brokerprovided, producer or company. In however in the event the Managing General Agent is in material default of its obligations hereunder hereunder, and does not cure remedy such default as required by Section 14.3within a reasonable time and does not account for and pay all premiums or other sums for which it may be liable to the company within a reasonable time following the due date, the right to such records, use such Expiration and Renewal Rights shall vest with the Company until such time as any such accounts have been rendered and such premiums remitted. Failure to pay premium because control of good faith differences in the accounting records of Managing General Agent expirations and the Company good will not be considered a failure to pay and will not give rise to a right to terminate or suspend relating thereto shall become the Expiration and Renewal Rights by the property of Company. 8.3 The Managing General Agent assigns to the Company as security for, but not in payment of, of the obligations of the Managing General Agent under this Agreement Agreement, all sums due or to become due to the Managing General Agent from any insured(s) for whom the Managing General Agent or Producer(sAgent(s) provided a Policy on behalf of the Company. In the event of the Managing General Agent’s uncured material default of its obligations hereunderwhich remains uncured, the Company shall have full authority to demand and collect such sums and the Managing General Agent or Agent(s) shall not be entitled to any commissions and/or Policy policy fees on any premium so collected by the Company. The Company may also assign any rights it acquires to the Reinsurer. 8.4 Subject to the forgoing limitations, the The Managing General Agent pledges and/or grants to the Company a security interest in any and all of the Managing General Agent’s Expiration and Renewal Rights, including but not limited to, the ownership and exclusive use of such Expiration and Renewal RightsCompany, so as to further secure payment of any and all sums due the Company under this Agreement. The Company is entitled to file , any and all of the relevant portions Managing General Agent's records of this Agreement as a financing statement reflecting its security interest expirations of Policies, including but not limited to, the ownership and may also assign any rights it acquires to the Reinsurerexclusive use of said expirations. In the event Managing General Agent fails to render timely accounts and payments within (10) days after such failure is brought to the Managing General Agent's attention by way of material uncured defaultwritten notification to the address provided herein, the Company shall have the rights of the holder of a security interest granted by law, including but not limited to the rights of foreclosure to effectuate such security interest, and arid the Managing General Agent xxxxxx hereby agrees to peaceably surrender possession of any such Expiration and Renewal peaceably records to the Company upon demand.

CONTROL OF EXPIRATIONS. 8.1 The Managing General Agent's records and the use and control of expirations and renewals of policies written pursuant to this Agreement on all Subject Business (including, for the avoidance of any doubt, business produced by the use or exploitation of any lists of policyholders, brokers, Producers or sub-Producers with respect to any Subject Business written pursuant to this Agreement for renewals, marketing or other commercial revenue-producing activities) (the “Expiration and Renewal Rights”) Agents appointed by the Managing General Agent or by the Producers appointed by Company at the Managing General Agent Agent's request shall remain the property of the Managing General Agent to and be left in the extent allowed by applicable law and contractsManaging General Agent's undisputed possession, provided the Managing General Agent is not in material default under this Agreement and has rendered accounts for and continues to render timely accounts and payments of pays over all premium and other funds sums for which the Managing General Agent may be liable to the Company. 8.2 The Ownership of the records, use and control of expirations and the goodwill relating thereto shall be vested in the Managing General Agent shall be the broker of record on all Policies produced pursuant to or under this Agreement and the Company shall not refer to or communicate any such Expiration and Renewal Rights to any other agentAgent; provided, brokerhowever, producer or company. In in the event the Managing General Agent is in material default of its obligations hereunder hereunder, and does not cure remedy such default as required by Section 14.3within a reasonable time and does not account for and pay all premiums or other sums for which it may be liable to the company within a reasonable time following the due date, the right to such records, use such Expiration and Renewal Rights shall vest with the Company until such time as any such accounts have been rendered and such premiums remitted. Failure to pay premium because control of good faith differences in the accounting records of Managing General Agent expirations and the Company good will not be considered a failure to pay and will not give rise to a right to terminate or suspend relating thereto shall become the Expiration and Renewal Rights by the property of Company. 8.3 The Managing General Agent assigns to the Company as security for, but not in payment of, the obligations of the Managing General Agent under this Agreement all sums due or to become due to the Managing General Agent from any insured(s) for whom the Managing General Agent or Producer(sAgent(s) provided a Policy on behalf of the Company. In the event of the Managing General Agent’s uncured material default of its obligations hereunderdefault, the Company shall have full authority to demand and collect such sums and the Managing General Agent or Agent(s) shall not be entitled to any commissions and/or Policy policy fees on any premium so collected by the Company. The Company may also assign any rights it acquires to the Reinsurer. 8.4 Subject to the forgoing limitations, the The Managing General Agent pledges and/or grants to the Company a security interest in any and all of the Managing General Agent’s Expiration and Renewal Rights, including but not limited to, the ownership and exclusive use of such Expiration and Renewal RightsCompany, so as to further secure payment of any and all sums due the Company under this Agreement. The Company is entitled to file , any and all of the relevant portions Managing General Agent's records of this Agreement as a financing statement reflecting its security interest expirations of Policies, including but not limited to, the ownership and may also assign any rights it acquires to the Reinsurerexclusive use of said expirations. In the event of material uncured default, the Company shall have the rights of the holder of a security interest granted by law, including but not limited to the rights of foreclosure to effectuate such security interest, and the Managing General Agent xxxxxx hereby agrees to peaceably surrender possession of any such Expiration and Renewal peaceably records to the Company upon demand.