Right of Rejection. Broker-Dealer and/or GIAC, each at their sole discretion, may reject any applications or payments remitted by Representative through the Broker-Dealer and may refund an applicant's payments to the applicant. In the event such refunds are made, and if Representative has received compensation based on an applicant's Payment that is refunded, Representative shall promptly repay such compensation to the Broker-Dealer. If repayment is not promptly made, the Broker-Dealer may, at its sole option, deduct any amounts due it from Representative from future commissions otherwise payable to Representative.
Appears in 8 contracts
Samples: Service Agreement (Guardian Separate Account E), Supervisory and Service Agreement (Guardian Separate Account B), Service Agreement (Guardian Separate Account C)
Right of Rejection. Broker-Dealer and/or GIAC, each at their sole discretion, may reject any applications or payments remitted by Representative through the Broker-Dealer and may refund an applicant's ’s payments to the applicant. In the event such refunds are made, and if Representative has received compensation based on an applicant's ’s Payment that is refunded, Representative shall promptly repay such compensation to the Broker-Dealer. If repayment is not promptly made, the Broker-Dealer may, at its sole option, deduct any amounts due it from Representative from future commissions otherwise payable to Representative.
Appears in 2 contracts
Samples: Broker Dealer Supervisory and Service (Guardian Separate Account R), Broker Dealer Supervisory and Service (Guardian Separate Account R)
