Loss of License. The Company may suspend binding authority if a regulatory authority cancels, restricts, suspends or declines to renew either the Company's or the Manager's license or certificate of authority, provided said license or certificate of authority is required to solicit and bind Business pursuant to the terms of this Agreement. In such event, the suspension shall remain in effect until such license or certificate of authority has been granted or reinstated by the regulatory authority and satisfactory evidence of such action has been provided to all parties.
Appears in 3 contracts
Samples: www.sec.gov, Program Manager Agreement (Atlas Financial Holdings, Inc.), Program Manager Agreement (Atlas Financial Holdings, Inc.)
Loss of License. The Company may suspend binding Managing Agent’s authority if a regulatory authority cancels, restricts, suspends or declines to renew either the Company's or the Manager's Managing Agent’s license or certificate of authority, provided said license or certificate of authority is required to solicit and bind Business pursuant to the terms of this Agreement. In such event, the suspension shall remain in effect until such the Managing Agent provides the Company with evidence that a license or certificate of authority has been granted or reinstated by the regulatory authority and satisfactory evidence of such action has been provided to all partiesauthority.
Appears in 2 contracts
Samples: Managing General Agency Agreement (American Physicians Insurance CO), Managing General Agency Agreement (American Physicians Service Group Inc)
