Common use of Right of Rejection Clause in Contracts

Right of Rejection. General Agent, Broker-Dealer, CUNA Brokerage and/or CUNA Mutual each in their sole discretion, may reject any applications or payments remitted by Representatives through the General Agent or Broker-Dealer and may refund an applicant's payments to the applicant. Likewise, CUNA Mutual and CUNA Brokerage may, at any time for any reason, reject any order from Product owner (whether transmitted by or through General Agent or Broker-Dealer or otherwise) to transfer contract value from one investment option under a Product to another. In the event such refunds are made and if General Agent or Broker-Dealer has received Compensation based on an applicant's payment that is refunded, General Agent or Broker-Dealer shall promptly repay such Compensation to CUNA Mutual. If repayment is not promptly made, CUNA Mutual may, at its sole option, deduct any amounts due to General Agent or Broker-Dealer from future Compensation otherwise payable to General Agent or Broker-Dealer. This Section 4 shall survive termination of this Agreement.

Right of Rejection. General Agent, Broker-Dealer, CUNA Brokerage and/or CUNA Mutual each in their sole discretion, may reject any applications or payments remitted by Representatives through the General Agent or Broker-Dealer and may refund an applicant's ’s payments to the applicant. Likewise, CUNA Mutual and CUNA Brokerage may, at any time for any reason, reject any order from Product owner (whether transmitted by or through General Agent or Broker-Dealer or otherwise) to transfer contract value from one investment option under a Product to another. In the event such refunds are made and if General Agent or Broker-Dealer has received Compensation based on an applicant's ’s payment that is refunded, General Agent or Broker-Dealer shall promptly repay such Compensation to CUNA Mutual. If repayment is not promptly made, CUNA Mutual may, at its sole option, deduct any amounts due to General Agent or Broker-Dealer from future Compensation otherwise payable to General Agent or Broker-Dealer. This Section 4 shall survive termination of this Agreement.

Right of Rejection. General Agent, Broker-Dealer, CUNA Brokerage and/or CUNA Mutual MLIC each in their sole discretion, may reject any applications or payments remitted by Representatives through the General Agent or Broker-Dealer and may refund an applicant's payments to the applicant. Likewise, CUNA Mutual MLIC and CUNA Brokerage may, at any time for any reason, reject any order from Product owner (whether transmitted by or through General Agent or Broker-Dealer or otherwise) to transfer contract value from one investment option under a Product to another. In the event such refunds are made and if General Agent or Broker-Dealer has received Compensation based on an applicant's payment that is refunded, General Agent or Broker-Dealer shall promptly repay such Compensation to CUNA MutualMLIC. If repayment is not promptly made, CUNA Mutual MLIC may, at its sole option, deduct any amounts due to General Agent or Broker-Dealer from future Compensation otherwise payable to General Agent or Broker-Dealer. This Section 4 shall survive termination of this Agreement.