Common use of Termination and Other Remedies Clause in Contracts

Termination and Other Remedies. Should the Insurer materially breach or default in any obligation as set forth in this Agreement and not timely cure such material default and breach as set forth in this section, CITIZENS may in its sole discretion, take any or all of the follow actions: (i) Terminate this Agreement or declare this Agreement canceled or void. (ii) Prohibit Insurer from further assumption of policies pursuant to this Agreement or any future agreement. (iii) Notify the Office of the violation of the Agreement and request that the Office take appropriate administrative action. (iv) Forfeiture of up to the entire amount of any escrowed bonus instituted pursuant to Paragraph 4.E., which shall be set forth in detail in any addendum negotiated pursuant to Paragraph 4.E. (v) In addition to any rights and remedies set forth in this Agreement, the non-defaulting party shall have all rights and remedies available at law and/or equity, including, but not being limited to, the right to specific performance, damages or injunctive relief.

Termination and Other Remedies. Should the Insurer materially breach or default in any obligation as set forth in this Agreement and not timely cure such material default and breach as set forth in this section, CITIZENS may in its sole discretion, take any or all of the follow actions:; (i) Terminate this Agreement or declare this Agreement canceled or void. (ii) Prohibit Insurer from further assumption of policies pursuant to this Agreement or any future agreement. (iii) Notify the Office of the violation of the Agreement and request that the Office take appropriate administrative action. (iv) Forfeiture of up to the entire amount of any escrowed bonus instituted pursuant to Paragraph 4.E., which shall be set forth in detail in any addendum negotiated pursuant to Paragraph 4.E. (v) In addition to any rights and remedies set forth in this Agreement, the non-defaulting party shall have all rights and remedies available at law and/or equity, including, but not being limited to, the right to specific performance, damages or injunctive relief.