Common use of Suspension of Authority Clause in Contracts

Suspension of Authority. (a) The Company shall have the unilateral right, exercisable in its sole and absolute discretion, to suspend the authority of the General Agent to act for or on behalf of the Company during the pendency of any dispute between the Company and the General Agent arising out of or in connection with any alleged breach or failure of performance on the part of the General Agent under this Agreement, including, but not limited to the General Agent’s (i) failure to follow or adhere to those limitations on its underwriting authority, or (ii) unauthorized delegation of binding authority. Nothing in the Company’s suspension of the authority of the General Agent under this Agreement shall [**] on the [**].

Suspension of Authority. (a) The Company shall have the unilateral right, exercisable in its sole and absolute discretion, to suspend the authority of the General Agent pursuant to act for or on behalf of the Company this Agreement during the pendency of any dispute between the Company and the General Agent arising out of or in connection with any alleged breach or failure of performance or any material uncertainty of future performance on the part of the General Agent under this Agreement, including, but not limited to the to: Managing General Agent’s (i) failure to follow or adhere to those limitations on its underwriting authorityAgency Agreement Effective July 1, or (ii) unauthorized delegation of binding authority. Nothing in the Company’s suspension of the authority of the General Agent under this Agreement shall [**] on the [**].2006