Pacific Mutual definition
Examples of Pacific Mutual in a sentence
Check or money order in payment of such Contracts should be made payable to the order of "Pacific Mutual".
If any amount to be deducted exceeds compensation otherwise due, General Agent and/or Selling Broker-Dealer shall promptly pay back the amount of the excess following a written demand by PEN or Pacific Mutual.
If the act or omission of a Sub-agent or any other employee of General Agent is the proximate cause of claim, damage or liability (including reasonable attorneys' fees) to Pacific Mutual or PEN, General Agent shall be responsible and liable therefor.
Pacific Mutual, PEN, Selling Broker-Dealer and General Agent further agree to cooperate fully in any securities regulatory investigation or proceeding with respect to Pacific Mutual, PEN, Selling Broker-Dealer and General Agent, their affiliates and their agents or representatives to the extent that such investigation or proceeding is in connection with the Contracts distributed under this Agreement.
Selling Broker-Dealer and General Agent hereby assign any proceeds received from a fidelity bonding company, error and omissions or other liability coverage, to Pacific Mutual or PEN as their interest may appear, to the extent of their loss due to activities covered by the bond, policy or other liability coverage.
All applications are subject to acceptance or rejection by Pacific Mutual in its sole discretion.
Pacific Mutual, PEN, Selling Broker-Dealer and General Agent agree to cooperate fully in any insurance regulatory investigation or proceeding or judicial proceeding arising in connection with the Contracts distributed under this Agreement.
Pacific Mutual and PEN shall not have any responsibility for the training and supervision of any Sub-agent or any other employee of General Agent.
Pacific Mutual reserves the right not to pay compensation on a policy or contract for which the premium is paid in whole or in part by the loan or surrender value of any other life insurance policy or annuity contract issued by Pacific Mutual.
Selling Broker-Dealer and General Agent hereby indemnify and hold harmless Pacific Mutual and PEN from any such deficiency and from the costs of collection thereof (including reasonable attorneys' fees).