Common use of BACKGROUND RECITALS Clause in Contracts

BACKGROUND RECITALS. ▇▇▇▇ is a subsidiary of ▇▇▇▇ Specialty, LLC (“▇▇▇▇ Specialty”) and provides marketing and other services on behalf of other subsidiaries of ▇▇▇▇ Specialty. Subsidiaries of ▇▇▇▇ Specialty may operate, directly or indirectly through series and divisions, as wholesale insurance brokerage, as underwriting management, and/or as alternative risk intermediaries offering specialized insurance products and services to independent agents and brokers for their customers and clients. All current and future insurance intermediaries organized or acquired by or on behalf of ▇▇▇▇ Specialty will be referred to separately as “Provider” and, collectively, the “Providers.” ▇▇▇▇, the Providers, and the Producer may hereinafter be referred to individually as a “Party.” The Producer is an insurance agent, producer, or broker that wishes to obtain through one or more of the Providers certain specialty insurance products for and on behalf of its customers and clients. The Producer intends for this Agreement to extend to, govern, and include all of the Producer’s branch office locations, subsidiaries, affiliates, and Federal Employer Identification Number(s) indicated on the Producer information table at the end of this Agreement or attached as a schedule hereto. The Producer, ▇▇▇▇, and the Providers want to mutually benefit and improve the overall efficiency of the insurance business that the Producer and the Providers may conduct by eliminating the need for the Producer to execute a separate broker, agency, or producer agreement with each Provider or each Provider to execute a separate agreement with each branch office location, subsidiary, or affiliate of Producer which operates under the same Federal Employer Identification Number.

BACKGROUND RECITALS. ▇▇▇▇ is a subsidiary of ▇▇▇▇ Specialty, LLC (“▇▇▇▇ Specialty”) and provides marketing and other services on behalf of other subsidiaries of ▇▇▇▇ Specialty. Subsidiaries of ▇▇▇▇ Specialty may operate, directly or indirectly through series and divisions, as wholesale insurance brokerage, as underwriting management, and/or as alternative risk intermediaries offering specialized insurance products and services to independent agents and brokers for their customers and clients. All current and future insurance intermediaries organized or acquired by or on behalf of ▇▇▇▇ Specialty will be referred to separately as “Provider” and, collectively, the “Providers.” ▇▇▇▇, the Providers, and the Producer may hereinafter be referred to individually as a “Party.” The Producer is an insurance agent, producer, or broker that wishes to obtain through one or more of the Providers certain specialty insurance products for and on behalf of its customers and clients. The Producer intends for this Agreement to extend to, govern, and include all of the Producer’s branch office locations, subsidiaries, affiliates, and Federal Employer Identification Number(s) indicated on the Producer information table at the end of this Agreement or attached as a schedule hereto. The Producer, ▇▇▇▇, and the Providers want to mutually benefit and improve the overall efficiency of the insurance business that the Producer and the Providers may conduct by eliminating the need for the Producer to execute a separate broker, agency, or producer agreement with each Provider or each Provider to execute a separate agreement with each branch office location, subsidiary, or affiliate of Producer which operates under the same Federal Employer Identification Number.. The Agreement‌ ▇▇▇▇ (for itself and on behalf of the Providers) and the Producer (for itself and on behalf of each branch office location, subsidiary, or affiliate which operates under the same Federal Employer Identification Number), intending to be legally bound, agree as follows: