Right to Enforce. Any creditor of Beneficiary (including, but not limited ---------------- to, its employees, policyholders and trade creditors) shall have the right to enforce the provisions of this Agreement through the Director of Insurance, Missouri Department of Insurance or the state insurance regulator of such creditor's state of residence if Beneficiary defaults on any claim or other payment owed to such creditor when due, and such insurance regulator may, at the request of such creditor made in accordance with and subject to the conditions of this Agreement, proceed directly against MetLife to enforce the provisions of this Agreement during its term; provided, however, that no creditor of Beneficiary may take any action authorized under this paragraph 5 unless and until (a) such creditor has given MetLife written notice of its intent to enforce the terms of this Agreement as provided in this paragraph 5, which notice shall specify in reasonable detail the nature of and basis for the creditor's complaint and (b) MetLife has failed to comply with this Agreement within sixty (60) days after such notice is given.
Appears in 2 contracts
Samples: Selling Agreement (First Metlife Investors Variable Annuity Account One), Net Worth Maintenance Agreement (Metlife Investors Variable Annuity Account One)
Right to Enforce. Any creditor of Beneficiary (including, but not limited ---------------- to, its employees, policyholders and trade creditors) shall have the right to enforce the provisions of this Agreement through the Director Superintendent of Insurance, Missouri New York Insurance Department of Insurance or the state insurance regulator of such creditor's state of residence if Beneficiary defaults on any claim or other payment owed to such creditor when due, and such insurance regulator may, at the request of such creditor made in accordance with and subject to the conditions of this Agreement, proceed directly against MetLife to enforce the provisions of this Agreement during its term; provided, however, that no creditor of Beneficiary may take any action authorized under this paragraph 5 unless and until (a) such creditor has given MetLife written notice of its intent to enforce the terms of this Agreement as provided in this paragraph 5, which notice shall specify in reasonable detail the nature of and basis for the creditor's complaint and (b) MetLife has failed to comply with this Agreement within sixty (60) days after such notice is given.
Appears in 1 contract
Samples: Net Worth Maintenance Agreement (First Metlife Investors Variable Annuity Account One)
Right to Enforce. Any creditor of Beneficiary (including, but not limited ---------------- to, its employees, policyholders and trade creditors) shall have the right to enforce the provisions of this Agreement through the Director Commissioner of Insurance, Missouri California Insurance Department of Insurance or the state insurance regulator of such creditor's state of residence if Beneficiary defaults on any claim or other payment owed to such creditor when due, and such insurance regulator may, at the request of such creditor made in accordance with and subject to the conditions of this Agreement, proceed directly against MetLife to enforce the provisions of this Agreement during its term; provided, however, that no creditor of Beneficiary may take any action authorized under this paragraph 5 unless and until (a) such creditor has given MetLife written notice of its intent to enforce the terms of this Agreement as provided in this paragraph 5, which notice shall specify in reasonable detail the nature of and basis for the creditor's complaint and (b) MetLife has failed to comply with this Agreement within sixty (60) days after such notice is given.
Appears in 1 contract
Samples: Amended And (Metlife Investors Variable Annuity Account Five)