Common use of Limitations on Payment Clause in Contracts

Limitations on Payment. Compensation shall be payable as follows: (a) Compensation shall be payable as long as the Dealership holder maintains a Dealership with Company and Partner remains the “Partner of Record” as recognized by the Dealership holder and Company. (b) If this Agreement is terminated pursuant to Section 8.2(a), any compensation that has been processed through the commission system as of the date of termination shall be paid to Partner or the executor or administrator of Partner’s estate. No compensation shall be payable after the date of termination. (c) If this Agreement is terminated pursuant to Section 8.2(b), any compensation due and payable to Partner on the date of termination or thereafter shall be paid to the trustee in bankruptcy or to the receiver. No compensation shall be payable after the date of termination. (d) If this Agreement is terminated pursuant to Sections 8.2(e), 8.2(f), or 8.2(j), the Partner’s right to any compensation due and payable from Company shall immediately terminate and the Company’s obligation of payment of compensation to Partner shall cease. (e) Partner shall not assign, transfer, promise or pay all of any portion of any compensation, or make or promise any payment in respect thereof, to any person who is not an employee of Partner. (f) In the event that an error is made in the calculation and/or payment of compensation under this Agreement, the parties agree that the correction of the error requiring payments to Partner or recovery of payments from Partner shall be made retroactively for a maximum of twelve (12) months from the date the error was discovered by Company. This section shall not limit in any way Company’s right to collect any indebtedness of Partner to Company, through offset of compensation or otherwise, for reasons other than an error in calculations of payments.

Limitations on Payment. Compensation shall be payable as follows: (a) Compensation shall be payable as long as the Dealership holder policyholder maintains a Dealership Policy with Company and Partner Agent remains the “Partner Agent of Record” as recognized by the Dealership holder policyholder and Company. (b) If this Agreement is terminated pursuant to Section 8.2(a), any compensation that has been processed through the commission system as of the date of termination shall be paid to Partner Agent or the executor or administrator of PartnerAgent’s estate. No compensation shall be payable after the date of termination. (c) If this Agreement is terminated pursuant to Section 8.2(b), any compensation due and payable to Partner Agent on the date of termination or thereafter shall be paid to the trustee in bankruptcy or to the receiver. No compensation shall be payable after the date of termination. (d) If this Agreement is terminated pursuant to Sections 8.2(e), 8.2(f), or 8.2(j), the PartnerAgent’s right to any compensation due and payable from Company shall immediately terminate and the Company’s obligation of payment of compensation to Partner Agent shall cease. (e) Partner Agent shall not assign, transfer, promise or pay all of any portion of any compensation, or make or promise any payment in respect thereof, to any person who is not an employee of PartnerAgent. (f) In the event that an error is made in the calculation and/or payment of compensation under this Agreement, the parties agree that the correction of the error requiring payments to Partner Agent or recovery of payments from Partner Agent shall be made retroactively for a maximum of twelve (12) months from the date the error was discovered by Company. This section shall not limit in any way Company’s right to collect any indebtedness of Partner Agent to Company, through offset of compensation or otherwise, for reasons other than an error in calculations of payments.