Existing Business. The Loan Parties and their Subsidiaries are currently engaged in the business of providing investment advisory, administration, distribution and other services to Funds.
Existing Business. Remain and cause each Consolidated Company to remain engaged in business of the same general nature and type as conducted on the Closing Date.
Existing Business. Subject to any mandatory legal or regulatory requirements to the contrary, the Company shall not decrease commission on any policies in force in respect of which commission is currently paid to the Broker.
Existing Business. Maintain its line of business as engaged in as of the Closing Date unless otherwise consented to by Lender in writing.
Existing Business. Buyer shall place additional production business of Buyer with Seller if, in Buyer's opinion, Seller is competitive in price, performance, delivery, reliability, technology or quality with other manufacturers of any such products.
Existing Business. The Parties agree that the determination of and collection of Gross Written Premiums in respect of the Policies sold in the Existing Business shall continue in accordance with the terms of the relevant Existing Local Agreement.
Existing Business. (a) Each Company hereby cedes, and the Reinsurer hereby assumes, one hundred percent (100%) of all Losses occurring on Insurance Contracts for which such Company is liable (other than Losses assumed under the Commercial Lines Cut-Through QSA and the Personal Lines Cut-Through QSA). All Losses reinsured hereunder and any payments of Claims with respect to such Losses by the Reinsurer shall be net Inuring Reinsurance paid and collected for the benefit of the applicable Company.
(b) In the event the Reinsurer makes an indemnity payment on behalf of a Company directly to any policyholder, insured or third party pursuant to any Insurance Contract that pays, in full or in part, a Loss, cost or expense under such Insurance Contract, such payment satisfies and extinguishes any and all obligation of the Reinsurer hereunder to indemnify such Company for such Loss, cost or expense to the extent of such payment. In no event shall the Reinsurer be obligated hereunder to indemnify with respect to any Loss, cost or expense under an Insurance Contract for an amount in excess of such Loss, cost or expense.
Existing Business. Carry on, and cause each Subsidiary to carry on, its title insurance, escrow, trust company and/or other real estate related services, business, or businesses in substantially the same manner as presently being conducted.
Existing Business. 3.2.1 In this, and the following Section 6 entitled Commission, the ‘expiry date’ of the contract may be different to the ‘renewal date’ (i.e. the date renewal terms are accepted). For the purposes of broker recognition for the payment of commission it is the expiry date of the outgoing contract period that is of consequence and not the conclusion of renewal negotiations/acceptance of terms.
3.2.2 During renewal negotiations we will deal exclusively with the broker named in the letter of appointment. Should we be asked to deal with more than one broker regarding the preparation and negotiation of renewal terms we will only do so if we receive a letter from the client on their letterhead giving the ‘new’ broker an authority to negotiate with us.
3.2.3 If we receive a dated and signed letter(s) of authority from a client on their letterhead, formally instructing us to negotiate renewal terms with a new broker, we will also deal equally with such broker(s) giving each the same terms as provided to the other(s) although we reserve the right not to do so if we so choose.
3.2.4 A broker will only be recognised as the newly appointed broker for the forthcoming contract period if we receive a letter of appointment from the client on their letterhead naming this broker prior to the expiry date of the contract. This letter of appointment must be signed and dated and must confirm that the outgoing broker has been notified. Henceforth, the newly appointed broker deals with all matters relating to that contract, including, for example, earlier claims.
3.2.5 If we receive a letter of appointment naming this broker on or after the effective date of the new insurance period, the new broker will be noted as the broker of the contract but will not be paid any commission for the contract period. However, we will still expect the newly appointed broker to deal with all matters relating to that contract, including, for example claims.
Existing Business. 37 5.24 Lockbox Arrangement With Lockbox Account and Working Interest Owners Account . . . . . . . . . . . . . . . . . . 37 5.25
