Common use of POST TERMINATION COMPENSATION OBLIGATIONS Clause in Contracts

POST TERMINATION COMPENSATION OBLIGATIONS. Upon termination of this Agreement, Company's obligation to pay compensation to Broker-Dealer or to Agency as applicable will immediately cease except that: 6.4.1 Company will pay compensation, as the same become due and payable, upon Products for which the application has been taken and the required premium has been collected (or has become irrevocably collectable from a third party) as of the date of termination, and for which the Company subsequently issues a policy. 6.4.2 Company will charge back against those commissions due identified in Product Exhibit(s) in the event of surrenders of Products sold prior to the termination of this Agreement by Authorized Selling Firm or Producers. Company will invoice Agency unless Company and Agency agree upon another method of payment of such amounts.

POST TERMINATION COMPENSATION OBLIGATIONS. Upon termination of this Agreement, Company's obligation to pay compensation commissions to Broker-Dealer Selling Agency, or to Agency as applicable will Producers shall immediately cease except that: 6.4.1 Company will pay compensationcommissions, as the same become due and payable, upon Products for which the application has been taken and the required premium has been collected (or has become irrevocably collectable from a third party) as of the date of termination, and for which the Company subsequently issues a policy. 6.4.2 Company will charge back against those commissions due identified in Product Exhibit(s) in the event of Exhibit A for surrenders of Products sold prior to the termination of this Agreement by Authorized Selling Firm or Producers. Company will invoice Selling Agency unless Company and Selling Agency agree upon another method of payment of such amounts. 6.4.3 Company shall pay commissions in accordance with Exhibit A and its addenda, attached hereto, on all premiums collected on Products issued prior to such termination.