Common use of Assignment of Commissions Clause in Contracts

Assignment of Commissions. ▇.▇. ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Fax ▇-▇▇▇-▇▇▇-▇▇▇▇ FOR VALUE RECEIVED, the undersigned Assignor hereby transfers, sets over and assigns unto (TAX ID & SS# ) (an individual), (a corporation), (a partnership), (a sole proprietorship) of (address) an amount equal to percent of any and all commissions, renewal commissions, allowances fees and other funds (collectively referred to herein as ‘Commissions’) which may hereafter accrue in favor of the Assignor by virtue of the agency contract now in force between the Assignor and American General Life Insurance Company (the “Company”), it being under- stood and agreed that this assignment shall be subject to any present indebtedness or any which may hereafter accrue to be due and owing the Company. The Assignor hereby represents and warrants that said Commissions are not now assigned, and the Assignor hereby will forever warrant and defend his right to receive the same, this instrument to remain in full force and effect until same is released by the assignee by an instrument in writing furnished the Company. The Assignor hereby further represents and warrants to the Company: (a)(i) the assignment of commissions pursuant to this document will not have the effect of violating any anti-rebating or commission sharing restrictions under any applicable law or regulation; and

Assignment of Commissions. ▇.▇. ▇▇▇ ▇▇▇▇P.O. Box 4229, ▇▇▇▇▇▇▇Houston, ▇▇ TX ▇▇▇▇▇-▇▇▇▇ Fax ▇-▇▇▇-▇▇▇-▇▇▇▇ FOR VALUE RECEIVED, the undersigned Assignor hereby transfers, sets over and assigns unto (TAX ID & SS# ) (an individual), (a corporation), (a partnership), (a sole proprietorship) of (address) an amount equal to percent of any and all commissions, renewal commissions, allowances fees and other funds (collectively referred to herein as ‘Commissions’) which may hereafter accrue in favor of the Assignor by virtue of the agency contract now in force between the Assignor and American General Life Insurance Company (the “Company”), it being under- stood and agreed that this assignment shall be subject to any present indebtedness or any which may hereafter accrue to be due and owing the Company. The Assignor hereby represents and warrants that said Commissions are not now assigned, and the Assignor hereby will forever warrant and defend his right to receive the same, this instrument to remain in full force and effect until same is released by the assignee by an instrument in writing furnished the Company. The Assignor hereby further represents and warrants to the Company: (a)(i) the assignment of commissions pursuant to this document will not have the effect of violating any anti-rebating or commission sharing restrictions under any applicable law or regulation; and