Common use of VARIATION AND TERMINATION Clause in Contracts

VARIATION AND TERMINATION. 13.1 Except where a specific period is given elsewhere in this Agreement RUL reserves the right to vary this Agreement upon giving the number of days’ notice set out in Schedule 1 to the Intermediary except in circumstances where changes in the rules of a relevant regulatory body are required to take immediate effect, in which case no notice will be required. Any variation to this Agreement will not affect Policies in force or proposals for Policies received by RUL before any such change has been made. However, RUL will treat any change in Premium for an existing Policy, whether such increase is automatic or otherwise, as new business and as such the rate of commission at the date of such change will apply. 13.2 This Agreement may be terminated by RUL on the number of days’ notice set out in Schedule 1 to the Intermediary and by the Intermediary on the number of days’ notice set out in Schedule 1 to RUL, or by the agreement of both parties at any time. 13.3 This Agreement may be terminated by a party (the “Non-defaulting Party”) immediately on notice to the other party (the “Defaulting Party”) if: 13.3.1 the Defaulting Party is in material breach of any of these terms and, if the breach is capable of remedy, such breach has not been remedied within 30 days after receipt by the Defaulting Party of notice from the Non-defaulting Party requiring such remedy; or 13.3.2 the Defaulting Party is in material breach of any of the Regulatory Requirements; or 13.3.3 the Defaulting Party or any director or partner or principal of it is convicted of any criminal offence (other than a driving offence) or the Non-defaulting Party has 13.3.4 the Defaulting Party has become insolvent or an order has been made or a resolution passed for its liquidation, administration, winding up, bankruptcy or dissolution (otherwise than for the purposes of a solvent amalgamation or reconstruction; or 13.3.5 where the Defaulting Party is a partnership any of the partners becomes insolvent or a resolution is passed for his or her bankruptcy; or 13.3.6 an administrative or other receiver, manager, trustee, liquidator, administrator or similar officer is appointed over all or any substantial part of the Defaulting Party’s assets; or 13.3.7 the Defaulting Party or, where it is a partnership, any of its partners, enters into or proposes any composition or arrangement with its or his or her creditors generally; or 13.3.8 the Intermediary being a sole trader or unincorporated person dies; or 13.3.9 anything analogous to the matters set out in Sub-clauses 13.3.3 to 13.3.8 occurs in any jurisdiction; or 13.3.10 any of the answers given by the Intermediary in its application for this Agreement or its application for any prior terms of business is found to be untrue. 13.4 Save as provided in, and subject to, this Agreement no termination will affect the payment of commission due to the Intermediary in respect of business already introduced to RUL or any liability of the Intermediary to pay any sum to RUL under any of the provisions of this Agreement. Termination of this Agreement shall be without prejudice to any other accrued rights and obligations of the parties which shall survive termination. 13.5 The Intermediary shall notify RUL in advance of the occurrence of any of the event specified in Sub-clauses 13.3.3 to 13.3.7 and 13.3.9 above.

VARIATION AND TERMINATION. 13.1 Except where a specific period is given elsewhere in this Agreement RUL reserves the right to vary this Agreement upon giving the number of days’ notice set out in Schedule 1 to the Intermediary except in circumstances where changes in the rules of a relevant regulatory body are required to take immediate effect, in which case no notice will be required. Any variation to this Agreement will not affect Policies in force or proposals for Policies received by RUL before any such change has been made. However, RUL will treat any change in Premium for an existing Policy, whether such increase is automatic or otherwise, as new business and as such the rate of commission at the date of such change will apply.the 13.2 This Agreement may be terminated by RUL on the number of days’ notice set out in Schedule 1 to the Intermediary and by the Intermediary on the number of days’ notice set out in outin Schedule 1 to RUL, or by the agreement of both parties at any time. 13.3 This Agreement may be terminated by a party (the “Non-defaulting Party”) immediately on immediatelyon notice to the other party (the “Defaulting Party”) if: 13.3.1 the Defaulting Party is in material breach of any of these terms and, if the breach is capable of remedy, such breach has not been remedied within 30 days after receipt by the Defaulting Party of notice from the Non-defaulting Party requiring such remedy; or 13.3.2 the Defaulting Party is in material breach of any of the Regulatory Requirements; or 13.3.3 the Defaulting Party or any director or partner or principal of it is convicted of any criminal offence (other than a driving offence) or the Non-defaulting Party hashas reason to suspect that any such person of the Defaulting Party has committed any act of, fraud or dishonesty or that the Defaulting Party’s conduct of the business transacted under this Agreement is such as to prejudice the interests of any Policyholder; or 13.3.4 the Defaulting Party has become insolvent or an order has been made or a resolution passed for its liquidation, administration, winding up, bankruptcy or dissolution (otherwise than for the purposes of a solvent amalgamation or reconstruction; or 13.3.5 where the Defaulting Party is a partnership any of the partners becomes insolvent or a resolution is passed for his or her bankruptcy; or 13.3.6 an administrative or other receiver, manager, trustee, liquidator, administrator or similar officer is appointed over all or any substantial part of the Defaulting Party’s assets; or 13.3.7 the Defaulting Party or, where it is a partnership, any of its partners, enters into or proposes any composition or arrangement with its or his or her creditors generally; orgenerally;or 13.3.8 the Intermediary being a sole trader or unincorporated person dies; or 13.3.9 anything analogous to the matters set out in Sub-clauses 13.3.3 to 13.3.8 occurs in any jurisdiction; or 13.3.10 any of the answers given by the Intermediary in its application for this Agreement or its application for any prior terms of business is found to be untrue. 13.4 Save as provided in, and subject to, this Agreement thisAgreement no termination will affect the payment of commission due to the Intermediary in respect of business already introduced to RUL or any liability of the Intermediary to pay any sum to RUL under any of the provisions of this Agreement. Termination of this Agreement shall be without prejudice to any other accrued rights and obligations of the parties which shall survive termination. 13.5 The Intermediary shall notify RUL in advance of the occurrence of any of the event specified in Sub-clauses 13.3.3 to 13.3.7 and 13.3.9 above.

VARIATION AND TERMINATION. 13.1 Except where a specific period is given elsewhere in this Agreement RUL reserves the right to vary this Agreement upon giving the number of days’ notice set out in Schedule 1 to the Intermediary except in circumstances where changes in the rules of a relevant regulatory body are required to take immediate effect, in which case no notice will be required. Any variation to this Agreement will not affect Policies in force or proposals for Policies received by RUL before any such change has been made. However, RUL will treat any change in Premium for an existing Policy, whether such increase is automatic or otherwise, as new business and as such the rate of commission at the date of such change will apply. 13.2 This Agreement may be terminated by RUL on the number of days’ notice set out in Schedule 1 to the Intermediary and by the Intermediary on the number of days’ notice set out in Schedule 1 to RUL, or by the agreement of both parties at any time. 13.3 This Agreement may be terminated by a party (the “Non-defaulting Party”) immediately on notice to the other party (the “Defaulting Party”) if: 13.3.1 the Defaulting Party is in material breach of any of these terms and, if the breach is capable of remedy, such breach has not been remedied within 30 days after receipt by the Defaulting Party of notice from the Non-defaulting Party requiring such remedy; or 13.3.2 the Defaulting Party is in material breach of any of the Regulatory Requirements; or 13.3.3 the Defaulting Party or any director or partner or principal of it is convicted of any criminal offence (other than a driving offence) or the Non-defaulting Party hashas reason to suspect that any such person of the Defaulting Party has committed any act of, fraud or dishonesty or that the Defaulting Party’s conduct of the business transacted under this Agreement is such as to prejudice the interests of any Policyholder; or 13.3.4 the Defaulting Party has become insolvent or an order has been made or a resolution passed for its liquidation, administration, winding up, bankruptcy or dissolution (otherwise than for the purposes of a solvent amalgamation or reconstruction; or 13.3.5 where the Defaulting Party is a partnership any of the partners becomes insolvent or a resolution is passed for his or her bankruptcy; or 13.3.6 an administrative or other receiver, manager, trustee, liquidator, administrator or similar officer is appointed over all or any substantial part of the Defaulting Party’s assets; or 13.3.7 the Defaulting Party or, where it is a partnership, any of its partners, enters into or proposes any composition or arrangement with its or his or her creditors generally; or 13.3.8 the Intermediary being a sole trader or unincorporated person dies; or 13.3.9 anything analogous to the matters set out in Sub-clauses 13.3.3 to 13.3.8 occurs in any jurisdiction; or 13.3.10 any of the answers given by the Intermediary in its application for this Agreement or its application for any prior terms of business is found to be untrue. 13.4 Save as provided in, and subject to, this Agreement no termination will affect the payment of commission due to the Intermediary in respect of business already introduced to RUL or any liability of the Intermediary to pay any sum to RUL under any of the provisions of this Agreement. Termination of this Agreement shall be without prejudice to any other accrued rights and obligations of the parties which shall survive termination. 13.5 The Intermediary shall notify RUL in advance of the occurrence of any of the event specified in Sub-clauses 13.3.3 to 13.3.7 and 13.3.9 above.

VARIATION AND TERMINATION. 13.1 Except where a specific period is given elsewhere in this Agreement RUL reserves the right to vary this Agreement upon giving the number of days’ notice set out in Schedule 1 to the Intermediary except in circumstances where changes in the rules of a relevant regulatory body are required to take immediate effect, in which case no notice will be required. Any variation to this Agreement will not affect Policies in force or proposals for Policies received by RUL before any such change has been made. However, RUL will treat any change in Premium for an existing Policy, whether such increase is automatic or otherwise, as new business and as such the rate of commission at the date of such change will apply. 13.2 This Agreement may be terminated by RUL on the number of days’ notice set out in Schedule 1 to the Intermediary and by the Intermediary on the number of days’ notice set out in Schedule 1 to RUL, or by the agreement of both parties at any time. 13.3 This Agreement may be terminated by a party (the “Non-defaulting Party”) immediately on immediatelyon notice to the other party (the “Defaulting Party”) if: 13.3.1 the Defaulting Party is in material breach of any of these terms and, if the breach is capable of remedy, such breach has not been remedied within 30 days after receipt by the Defaulting Party of notice from the Non-defaulting Party requiring such remedy; or 13.3.2 the Defaulting Party is in material breach of any of the Regulatory Requirements; or 13.3.3 the Defaulting Party or any director or partner or principal of it is convicted of any criminal offence (other than a driving offence) or the Non-defaulting Party hashas reason to suspect that any such person of the Defaulting Party has committed any act of, fraud or dishonesty or that the Defaulting Party’s conduct of the business transacted under this Agreement is such as to prejudice the interests of any Policyholder; or 13.3.4 the Defaulting Party has become insolvent or an order has been made or a resolution passed for its liquidation, administration, winding up, bankruptcy or dissolution (otherwise than for the purposes of a solvent amalgamation or reconstruction; or 13.3.5 where the Defaulting Party is a partnership any of the partners becomes insolvent or a resolution is passed for his or her bankruptcy; or 13.3.6 an administrative or other receiver, manager, trustee, liquidator, administrator or similar officer is appointed over all or any substantial part of the Defaulting Party’s assets; or 13.3.7 the Defaulting Party or, where it is a partnership, any of its partners, enters into or proposes any composition or arrangement with its or his or her creditors generally; or 13.3.8 the Intermediary being a sole trader or unincorporated person dies; or 13.3.9 anything analogous to the matters set out in Sub-clauses 13.3.3 to 13.3.8 occurs in any jurisdiction; or 13.3.10 any of the answers given by the Intermediary in its application for this Agreement or its application for any prior terms of business is found to be untrue. 13.4 Save as provided in, and subject to, this Agreement no termination will affect the payment of commission due to the Intermediary in respect of business already introduced to RUL or any liability of the Intermediary to pay any sum to RUL under any of the provisions of this Agreement. Termination of this Agreement shall be without prejudice to any other accrued rights and obligations of the parties which shall survive termination. 13.5 The Intermediary shall notify RUL in advance of the occurrence of any of the event specified in Sub-clauses 13.3.3 to 13.3.7 and 13.3.9 above.