MGA Agreement definition

MGA Agreement has the meaning set forth in Section 6.4.
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MGA Agreement means a contractual agreement giving an MGA contractual authority from one or more insurers to provide underwriting services, including negotiating and entering into binding authorities with Coverholders for the sale and fulfilment of policies, on behalf of the insurers.
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MGA Agreement in respect of a Subsidiary, the shareholders' agreement in effect or to be entered into between the Company (or another Group Company), the Underwriters and such Subsidiary; "MIP" as defined in clause 8.1;
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Examples of MGA Agreement in a sentence

  • The MGA Agreement shall provide, to the extent possible, for the payment of a commission to the managing general agent, which provides for equivalent economic benefit as the Ceding Commission provides.

  • Capitalized terms have the same definitions as are found in the MGA Agreement.

  • All services related to claims, underwriting and administration with respect to Policies reinsured hereunder shall be provided by National General pursuant to the PL MGA Agreement.

  • During the term of this Agreement, Manager shall receive (a) a commission equal to 10% of all business written, (b) the amount of commissions payable to producing Agents for all business written and (c) an allocated portion of the Loss Adjustment Expenses paid by the Manager pursuant to the Cut-Through MGA Agreement.

  • It makes this argument despite the merger clause contained in the MGA Agreement, and claims that these missing terms necessitate consideration of extrinsic evidence in order to construe the contract in keeping with the parties’ intent at the time it was signed.

  • The relationship deteriorated to the point that, in April of 2001, Founders sent LIAC a letter stating that it intended to terminate the MGA Agreement as of September 30, 2001, but also that it hoped to negotiate “another mutually satisfactory Agreement.”LIAC filed suit against Founders in the Wayne County (Michigan) Circuit Court in July of 2001.

  • As a result, LIAC argues that when Founders did not process applications promptly or mail invoices in time for the insured to pay before the next premium due date, Founders breached the MGA Agreement.Founders’s response rests heavily on the presence of the merger clause in the MGA Agreement.

  • Managing General Agent Agreement‌ Effective September 10, 2000, the Company entered into an MGA Agreement with its affiliate, ASIU.

  • Although the MGA Agreement did not identify LIAC as Founders’s exclusive broker in Michigan, the parties did agree that Founders would not appoint any other producer or managing general agent in Michigan at a commission rate equal to or lower than the rate paid to LIAC.

  • The merger clause states in no uncertain terms that the MGA Agreement represented the “entire agreement” between the parties and that it “supersede[d] any prior agreements between them.” Founders asserts that LIAC’s inability to identify any specific provision of the MGA Agreement that Founders breached dooms the breach-of-contract claim on appeal.


More Definitions of MGA Agreement

MGA Agreement has the meaning set forth in the Recitals.
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MGA Agreement means the Commercial Lines Managing General Agent Agreement, dated September 15, 2014, among the Company (including as successor by merger to the Constituent Companies), the Administrator and ACP Re.
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MGA Agreement means any contract, agreement, arrangement or understanding with or in respect of a managing general agent or any other insurance producer with binding authority.
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MGA Agreement means the Personal Lines Managing General Agent Agreement, dated September 15, 2014, among the Company (including as successor by merger to the Constituent Companies), National General Insurance Marketing, Inc. and ACP Re.
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Related to MGA Agreement

  • CMPPA Agreement means the CMPPA Agreement between the SSA and CHHS.

  • SCM Agreement means the Agreement on Subsidies and Countervailing Measures in Annex 1A to the WTO Agreement;

  • Collaboration Agreement has the meaning set forth in the Recitals.

  • Cooperation Agreement means that certain Mortgage Loan Cooperation Agreement, dated as of the Closing Date, among Borrower, Lender and Sponsor, as the same may from time to time be amended, restated, replaced, supplemented or otherwise modified in accordance herewith.

  • Development Agreement has the meaning set forth in the Recitals.

  • SPS Agreement means the Agreement on the Application of Sanitary and Phytosanitary Measures which is a part of the WTO Agreement; Subheading means the first six digits in the tariff classification number under the HS; Territory means:

  • Alliance Agreement has the meaning given to such term in paragraph 11.2 of Schedule 13 (Information and Industry Initiatives);

  • Transition Agreement has the meaning set forth in Section 12.8.1.

  • Termination Agreement has the meaning set forth in the Recitals.

  • Services Agreement means an agreement entered into between a Utility and one or more Affiliates for the provision of Shared Services or For Profit Affiliate Services and shall provide for the following matters as appropriate in the circumstances:

  • Joint Agreement means a type of Fund Use Agreement between the Consortium and the Fund Council that sets forth an umbrella set of terms and conditions that govern principally the submission and approval of CRP proposals and the transfer and use of funds from the CGIAR Fund for implementation of CRPs.

  • Licence Agreement means an agreement (whether or not in writing) between the owner of student accommodation and a student giving a licence to which this section applies to the student;

  • Connection Agreement means an agreement entered into between a distributor and a person connected to its distribution system that delineates the conditions of the connection and delivery of electricity to or from that connection;

  • Marketing Agreement means an agreement entered into, with the director, by producers, distributors, processors, or handlers pursuant to this act and binding only on those signing the agreement.

  • Sponsor Letter Agreement has the meaning set forth in the recitals to this Agreement.

  • Assistance Agreement means a for- mal, written agreement between the CDFI Fund and an Awardee which specifies the terms and conditions of assistance under this part;

  • Cross License Agreement means that certain Cross License Agreement between and among Medarex, Cell Genesys, Inc., Abgenix, Inc., Xenotech, L.P. and Japan Tobacco Inc., dated March 26, 1997.

  • Use Agreement means the use agreement by and between HDFC and HUD which commences on or before the Effective Date, runs with the land, binds all subsequent owners and creditors of the Exemption Area, and requires that the housing project on the Exemption Area continue to operate on terms at least as advantageous to existing and future tenants as the terms required by the original Section 202 loan agreement or any Section 8 rental assistance payments contract or any other rental housing assistance contract and all applicable federal regulations.

  • Exclusivity Agreement , in relation to land, means an agreement, by the owner or a lessee of the land, not to permit any person (other than the persons identified in the agreement) to construct a solar pv station on the land;”;

  • Supply Agreement has the meaning set forth in Section 7.1.

  • License Agreement means the agreement between SAP (or an SAP SE Affiliate, or an authorized reseller) under which Customer procured the rights to use SAP Software or a Cloud Service.

  • O&M Agreement means the agreement(s), if any, between the Company and the O&M Contractor for the operation and maintenance of the Facility to be entered into between the Company and the O&M Contractor, as amended or superseded from time to time;

  • Formation Agreement has the meaning attributed to it in Recital A;

  • Master Services Agreement means the master services agreement among the Service Providers, the Partnership, BRELP, the Holding Entities and others;

  • Umbrella Agreement means, as the context requires, either:

  • Secondment Agreement is defined in Section 2.2.