Ownership of the Business. Producer is the independent owner of the insurance business subject to this Agreement. Producer is acting as a broker for applicants and on the applicant’s behalf, not as an agent of Synergy No binding authority is or shall be granted or delegated to Producer by this Agreement.
Ownership of the Business. Consultant recognizes the owners hip by Essential Benefit Administrators of the business covered in this Agreement, including the use and control of expirations. Consultant further agrees that all books, records, list of names, journals, ledgers, computer programs, specialized software and any other recorded information developed specifically in connection with the administration of Clients shall remain the property of EBA.
Ownership of the Business. PRODUCER shall control all expirations and renewal of insurance placed under this Agreement; provided, however, in the event that PRODUCER fails to account for or to make payment of all amounts due to JSA or an Insurer, such expirations and renewals, including any future commissions relating thereto,
Ownership of the Business. The GENERAL AGENT expressly recognizes the ownership of all business placed under this agreement by the BROKER. In the event of any premiums due the GENERAL AGENT at the termination of this agreement, the use and control of all expirations and renewals shall be the GEN- ERAL $*(17 6 until all of the GENERAL AGENT'S interests have been satisfied.
Ownership of the Business. DIH and its Subsidiaries recognizes the independent ownership by Broker of the business subject to this Agreement. In the event of termination of this Agreement, the use and control of expirations shall remain the property of Broker if Broker has paid all premiums for which Broker is liable under this Agreement; otherwise use and control of expirations shall be vested in DIH and its Subsidiaries.
Ownership of the Business. 6.1.1 The Seller is the lawful owner of the Business and has full legal right, power and authority to sell, assign and transfer the Business in accordance with the terms of this Agreement.
6.1.2 The Seller is the owner of the assets and rights comprised in the Business, as described in section 2.2, and neither such assets and rights nor the Business itself are encumbered by any real or personal right, easement or security.
6.1.3 The purchased assets described in section 2.2 constitute all of the assets necessary for the operation of the Business as it is operated at the date hereof, subject to the provisions of section 5.7.
Ownership of the Business. The parties agree that in the event of termination of the Agreement, the PRODUCER having accounted for and paid over all premiums for which he is or may be liable, the PRODUCER’S records and use and control of expiration shall remain in property of the PRODUCER.
Ownership of the Business. The Business is owned solely and exclusively by the Seller, and no Person has any ownership rights to the Business other than the Seller. There are, and at the Closing there will be, no outstanding subscriptions, options, rights, warrants, convertible securities, preemptive rights or other agreements, or understandings with respect to the voting, sale, transfer, rights of first refusal, rights of first offer, proxy or registration or calls, demands or commitments of any kind relating to the issuance, sale or transfer of any capital stock or other equity securities of the Seller, whether directly or upon the exercise or conversion of other securities. The Business does not and has never maintained any stock, partnership, joint venture or any other security or ownership interest in any other Person.
Ownership of the Business. Producer shall control all expirations and renewals of insurance placed under this Agreement; provided, however, in the event that Producer fails to account for or to make payment of all amounts due to HIH Risk Specialty or an Insurer, such expirations and renewals, including any future commissions relating thereto, shall become the property of HIH Risk Specialty for such use and disposal as HIH Risk Specialty shall determine, in its discretion, in order to satisfy the financial obligations of Producer to HIH Risk Specialty and/or an Insurer. To the extent the disposition of the expirations and renewals are insufficient to satisfy the indebtedness owed by Producer, Producer shall remain liable for all remaining amounts owed plus any expenses incurred in disposing of such expirations and renewals as well as reasonable costs and attorney fees.
Ownership of the Business. Producer shall control all expirations and renewals of insurance placed under this Agreement; provided, however, in the event that Producer fails to account for or to make payment of all amounts due to Amwins or an Insurer, such expirations and renewals, including any future commissions relating thereto, shall become the property of Amwins for such use and disposal as Amwins shall determine, in its discretion, in order to satisfy the financial obligations of Producer to Amwins and/or an Insurer. To the extent the disposition of the expirations and renewals are insufficient to satisfy the indebtedness owed by Producer, Producer shall remain liable for all remaining amounts owed plus any expenses incurred in disposing of such expirations and renewals as well as reasonable costs and attorney fees.
