Common use of PROFIT COMMISSIONS Clause in Contracts

PROFIT COMMISSIONS. The Company agrees that any profit commissions which may become due, as set forth in the Quota Share Agreement, shall be the property of the General Agent provided the General Agent is not in default of the Managing General Agency Agreement. The General Agent agrees that any profit commissions that may become due shall not be payable to the General Agent until the Company has received such from the reinsurers. [**] CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. Amendment No. 3 to Addendum A of the Managing General Agency Agreement Originally Effective: January 1, 1993

PROFIT COMMISSIONS. The Company agrees that any profit commissions which may become due, as set forth in the Property Quota Share Agreement, shall be the property of the General Agent provided the General Agent is not in default of the Managing General Agency Agreement. The General Agent agrees that any profit commissions that may become due shall not be payable to the General Agent until the Company has received such from the reinsurers. [**] CERTAIN INFORMATION ON THIS PAGE HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. Amendment No. 3 to Addendum A B of the Managing General Agency Agreement Originally Effective: January 1, 19931993 due shall not be payable to the General Agent until the Company has received such from the reinsurers.