Common use of Fidelity Bond Coverage Clause in Contracts

Fidelity Bond Coverage. Broker-Dealer represents that it and its directors, officers, employees, and registered representatives are and shall be covered by a blanket fidelity bond, issued by a reputable bonding company. This bond shall be maintained by Broker-Dealer at Broker-Dealer's expense. Such bond shall be, at least, of the form, type and amount required under the NASD Conduct Rules. Distributor may require evidence, satisfactory to it, that such coverage is in force, and Broker-Dealer shall give prompt written notice to Distributor of any cancellation or change of coverage. Broker-Dealer assigns any proceeds received from the fidelity bonding company to Liberty Life to the extent of its loss due to activities covered by the bond, and to Distributor to the extent of its loss due to activities covered by the bond. Failure to secure and maintain same shall be grounds for immediate termination of this Agreement for cause.

Fidelity Bond Coverage. Broker-Dealer represents that it and its directors, officers, employees, and registered representatives are and shall be covered by a blanket fidelity bond, issued by a reputable bonding company. This bond shall be maintained by Broker-Dealer at Broker-Dealer's expense. Such bond shall be, at least, of the form, type and amount required under the NASD Conduct Rules. Distributor may require evidence, satisfactory to it, that such coverage is in force, and Broker-Dealer shall give prompt written notice to Distributor of any cancellation or change of coverage. Broker-Dealer assigns any proceeds received from the fidelity bonding company to Liberty Life First Penn-Pacific to the extent of its loss due to activities covered by the bond, and to Distributor to the extent of its loss due to activities covered by the bond. Failure to secure and maintain same shall be grounds for immediate termination of this Agreement for cause.

Fidelity Bond Coverage. Broker-Dealer represents that it and its directors, officers, employees, and registered representatives are and shall be covered by a blanket fidelity bond, issued by a reputable bonding company. This bond shall be maintained by Broker-Broker- Dealer at Broker-Dealer's expense. Such bond shall be, at least, of the form, type and amount required under the NASD Conduct Rules. Distributor may require evidence, satisfactory to it, that such coverage is in force, and Broker-Dealer shall give prompt written notice to Distributor of any cancellation or change of coverage. Broker-Dealer assigns any proceeds received from the fidelity bonding company to Liberty Life to the extent of its loss due to activities covered by the bond, and to Distributor to the extent of its loss due to activities covered by the bond. Failure to secure and maintain same shall be grounds for immediate termination of this Agreement for cause.

Fidelity Bond Coverage. Broker-Dealer represents that it and its directors, officers, employees, and registered representatives are and shall be covered by a blanket fidelity bond, issued by a reputable bonding company. This bond shall be maintained by Broker-Dealer at Broker-Dealer's ’s expense. Such bond shall be, at least, of the form, type and amount required under the NASD Conduct Rules. Distributor may require evidence, satisfactory to it, that such coverage is in force, and Broker-Dealer shall give prompt written notice to Distributor of any cancellation or change of coverage. Broker-Dealer assigns any proceeds received from the fidelity bonding company to Liberty Life to the extent of its loss due to activities covered by the bond, and to Distributor to the extent of its loss due to activities covered by the bond. Failure to secure and maintain same shall be grounds for immediate termination of this Agreement for cause.