Common use of Exclusivity of Agreement Clause in Contracts

Exclusivity of Agreement. A. CLICA and CLAFS hereby agree not to develop, market or otherwise engage in the sale of other individual or group variable annuities distributed through selling agreements with NYSE member firms or other broker-dealers as agreed to by the parties from time to time, for five years from the effective date of this Agreement, without the prior written consent of Xxxxxxxx Financial subject to the following: (i) This provision is not applicable to and will in no way limit the further development and distribution of CLICA's existing individual (VariFund) and group (The Canada Life 401(k)) variable annuity products or amendments thereto; (ii) The exclusive nature of this Agreement will be reassessed by the parties and the exclusive nature of this Agreement may be terminated by either CLICA or Xxxxxxxx Financial, upon 180 days notice, if this venture is not successful in achieving the total assets under management through individual and group annuity sales by the end of the year specified below. Year End 1994 $ 50 million 1995 $100 million 1996 $150 million 1997 $250 million CLICA and Xxxxxxxx Financial believe that these levels of production are achievable and will work together in a spirit of cooperation to achieve the success of this venture.

Exclusivity of Agreement. A. CLICA CLNY and CLAFS hereby agree not to develop, market or otherwise engage in the sale of other individual or group variable annuities distributed through selling agreements with NYSE member firms or other broker-dealers as agreed to by the parties from time to time, for five years from the effective date of this Agreement, without the prior written consent of Xxxxxxxx Financial Selixxxx Xxxancial subject to the following: (i) This provision is not applicable to and will in no way limit the further development and distribution of CLICACLNY's existing individual (VariFund) and group (The Canada Life 401(k)) variable annuity products or amendments thereto; (ii) The exclusive nature of this Agreement will be reassessed by the parties and the exclusive nature of this Agreement may be terminated by either CLICA CLNY or Xxxxxxxx FinancialSelixxxx Xxxancial, upon 180 days notice, if this venture is not successful in achieving the total assets under management through individual and group annuity sales by the end of the year specified below. Year End 1994 $ 50 million 1995 $100 million 1996 $150 million 1997 $250 million CLICA CLNY and Xxxxxxxx Financial Selixxxx Xxxancial believe that these levels of production are achievable and will work together in a spirit of cooperation to achieve the success of this venture.

Exclusivity of Agreement. A. CLICA and CLAFS hereby agree not to develop, market or otherwise engage in the sale of other individual or group variable annuities distributed through selling agreements with NYSE member firms or other broker-dealers as agreed to by the parties from time to time, for five years from the effective date of this Agreement, without the prior written consent of Xxxxxxxx Financial Selixxxx Xxxancial subject to the following: (i) This provision is not applicable to and will in no way limit the further development and distribution of CLICA's existing individual (VariFund) and group (The Canada Life 401(k)) variable annuity products or amendments thereto; (ii) The exclusive nature of this Agreement will be reassessed by the parties and the exclusive nature of this Agreement may be terminated by either CLICA or Xxxxxxxx FinancialSelixxxx Xxxancial, upon 180 days notice, if this venture is not successful in achieving the total assets under management through individual and group annuity sales by the end of the year specified below. Year End 1994 $ 50 million 1995 $100 million 1996 $150 million 1997 $250 million CLICA and Xxxxxxxx Financial Selixxxx Xxxancial believe that these levels of production are achievable and will work together in a spirit of cooperation to achieve the success of this venture.

Exclusivity of Agreement. A. CLICA CLNY and CLAFS hereby agree not to develop, market or otherwise engage in the sale of other individual or group variable annuities distributed through selling agreements with NYSE member firms or other broker-dealers as agreed to by the parties from time to time, for five years from the effective date of this Agreement, without the prior written consent of Xxxxxxxx Financial subject to the following: (i) This provision is not applicable to and will in no way limit the further development and distribution of CLICACLNY's existing individual (VariFund) and group (The Canada Life 401(k)) variable annuity products or amendments thereto; (ii) The exclusive nature of this Agreement will be reassessed by the parties and the exclusive nature of this Agreement may be terminated by either CLICA CLNY or Xxxxxxxx Financial, upon 180 days notice, if this venture is not successful in achieving the total assets under management through individual and group annuity sales by the end of the year specified below. Year End 1994 $ 50 million 1995 $100 million 1996 $150 million 1997 $250 million CLICA CLNY and Xxxxxxxx Financial believe that these levels of production are achievable and will work together in a spirit of cooperation to achieve the success of this venture.