Return Commissions. MGA shall refund to the Company, unearned commissions on policy cancellations, reductions in premiums or any other return premiums at the same rate of which such commissions were originally retained.
Return Commissions. In the event that such coverages are cancelled or modified (regardless of whether such cancellation or modification is instituted by the underwriting insurance company, the insured, a premium finance entity, or any other person), the Producer agrees to pay return commissions to the Agency on any return premiums at the same rate at which such return premiums are calculated. The obligations of the Producer to return commissions on cancelled or modified policies shall survive termination of this Agreement for any reason.
Return Commissions. Direct Xxxx Policy Sales Commissions that are unearned because a Policy premium or fee was reduced or a Policy canceled.
Return Commissions. Producer agrees to return promptly to Company commissions previously paid to Producer or retained by Producer on premiums refunded under any Policy for any reason, whether the refund is made during the term of this Agreement or thereafter.
Return Commissions. Solicitor shall refund, on a pro rata basis, to PLAN, within thirty (30) days of notification by PLAN, commissions on canceled Group Products and reductions in premiums at the same rate at which such commissions were originally paid by PLAN. Solicitor shall return to PLAN any commission paid in error within ten (10) days of receiving notice of such error.
Return Commissions. In consideration of the commissions allowed BROKER on all premiums, BROKER agrees to pay AGENT the return commissions on all return premiums at the same rate and under the same terms at which such commissions were originally allowed by AGENT within ten (10) days from close of the month for which the account was rendered.
Return Commissions. In consideration of the commissions allowed BROKER on all premiums, BROKER agrees to pay AGENT the return commissions on all return premiums at the same rate and under the same terms at which such commissions were originally allowed by AGENT within ten (10) days from close of the month for which the account was rendered. This agreement is to remain in effect until cancelled by either party giving written notice after which time the Agreement shall terminate as to future transactions, but shall remain effective until all past and current transactions have been concluded. ARGENIA, INC BROKER Authorized Representative Type of License
Return Commissions. PRODUCER agrees to return promptly to USI commissions previously paid to PRODUCER by USI on premiums refunded under any policy for any reason whether the refund is made during the term of this Agreement or thereafter.
Return Commissions. Buyer shall be responsible for and shall indemnify and hold Seller harmless from all losses, claims, damages, costs and expenses in connection with any and all unearned or return commissions and other policy audit charges arising from policy cancellations relating to (a) the Current Book of Business transferred to Buyer for all policy years which commence prior to the Closing and (b) the Closed Store Book of Business to the extent that such unearned or return commissions and other policy audit charges are offsets pursuant to the provisions of Section 2.4.2.1 or otherwise appear on statements of insurers that are received on or after the Closing Date (collectively, “Unearned Commissions”).
Return Commissions. Buyer, Seller and Parent agree that Buyer will assume (as part of the Purchase Price) up to Five Hundred Thousand and No/100 Dollars ($500,000.00) in Net Return Commissions (as defined in Section 2.1 hereof) and shall refund the insurance companies and premium finance companies for all return commissions to be refunded on such premium reductions. Seller and Parent shall retain and be liable for all premium reductions and return commissions in excess of such amount. Buyer will be entitled to all premium increases (including commissions to be received), from endorsements, credits and charges from audit premiums and additional coverage by the Agency's policyholders as of the Closing which shall occur after the Closing Date, and Seller and Parent agree that they will return to the insured under any such policy the unearned premium which may be due to the insured as a result of such endorsement, audit or cancellation; provided, however, that if premium increases do arise and if additional premiums or commissions are remitted to Seller or Parent by the policyholders or insurance company, Seller and Parent shall forward such additional premiums or commissions to Buyer within ten (10) days of receipt thereof. There shall be no
