Neither Broker Clause Samples

Neither Broker. Dealer nor any Registered Representative of Broker-Dealer will furnish any prospective Contract owner with an illustration of the financial or other aspects of a Contract or a proposal for a Contract unless the same has been either furnished by the Insurance Companies or prepared from computer software or other material furnished or approved by the Insurance Companies. Any illustration or proposal will conform to standards of completeness and accuracy established by the Insurance Companies. If the proposal or illustration was not furnished by the Insurance Companies, Broker-Dealer will retain in its records for availability to the Insurance Companies a copy thereof or the means to duplicate the same. Any computer software or materials furnished by either Insurance Company will be and remain its property.
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Neither Broker. Dealer nor Insurance Agent shall expend or contract for the expenditure of the funds of Life Company. Broker-Dealer and Insurance Agent each shall pay all expenses incurred by each of them in the performance of this Agreement, unless otherwise specifically provided for in this Agreement or unless Life Company and Distributor shall have agreed in advance in writing to share the cost of certain expenses. Initial and renewal state appointment fees for Insurance Agent and appointees of Insurance Agent as Agents of Life Company will be paid according to the terms set forth in the rules and regulations as may be adopted by Life Company from time-to-time. Neither Broker-Dealer nor Insurance Agent shall possess or exercise any authority on behalf of Distributor or Life Company other than that expressly conferred on Broker-Dealer or Insurance Agent by this Agreement. In particular, and without limiting the foregoing, neither Broker-Dealer nor Insurance Agent shall have any authority, nor shall either grant such authority to any Agent, on behalf of Distributor or Life Company: to make, alter or discharge any Contract or other contract entered into pursuant to a Contract; to waive any Contract forfeiture provision; to extend the time of paying any Premiums; or to receive any monies or Premiums from applicants for or purchasers of the Contracts (except for the sole purpose of forwarding monies or Premiums to Life Company).
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Neither Broker. Dealer nor any registered representative of Broker-Dealer, including any AXA Network Agent, nor any independent broker-dealer shall have an interest in any premiums or other sums due and payable to MONY America pursuant to a Variable Product sums nor shall any registered representative of Broker-Dealer, including any AXA Network Agent, nor any independent broker-dealer have an interest in any fees or other sums due and payable to Broker-Dealer pursuant to this Agreement.
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Neither Broker. Dealer nor General Agent shall, directly or indirectly, expend or contract for the expenditure of any funds of the Distributor or Liberty Life. Broker-Dealer and General Agent shall each pay all expenses incurred by each of them in the performance of this Agreement, unless otherwise specifically provided for in this Agreement or Distributor shall have agreed in advance in writing to share the cost of certain expenses.
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Neither Broker. Dealer nor Insurance Agency shall expend or contract for the expenditure of the funds of SSI or First Symetra. Broker-Dealer and Insurance Agency each shall pay all expenses incurred by each of them in the performance of this Agreement, unless otherwise specifically provided for in this Agreement or unless Symetra shall have agreed in advance in writing to share the cost of any such expenses. Initial and renewal state appointment fees for Insurance Agency and appointees of Insurance Agency as Agents of First Symetra will be paid by First Symetra or Insurance Agency in accordance with First Symetra's policies and procedures, which may be changed by First Symetra in its sole discretion at any time without notice. Neither Broker-Dealer nor Insurance Agency shall possess or exercise any authority on behalf of First Symetra other than that expressly conferred on Broker-Dealer or Insurance Agency by this Agreement. In particular, and without limiting the foregoing, neither Broker-Dealer nor Insurance Agency shall have any authority, nor shall either grant such authority to any Agent, on behalf of First Symetra: to make, alter or discharge any Contract or other contract entered into pursuant to a Contract; to waive any Contract provision; to extend the time of paying any Premiums; to endorse checks or money orders payable to First Symetra; or to receive any monies or Premiums from applicants for or purchasers of the Contracts (except for the sole purpose of forwarding monies or Premiums to First Symetra).
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Neither Broker. Dealer, Insurance Agency nor any Agent shall use or implement any promotional, sales or advertising material relating to the Contracts without the prior written approval of First Symetra.
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Neither Broker. Dealer Subsidiary is subject to any cease-and-desist or other order or enforcement action issued by, or is party to any written agreement, consent agreement or memorandum of understanding with, or is party to any commitment letter or similar undertaking to, or is subject to any order or directive by, or since January 1, 2018 has been ordered to pay any civil penalty by, or is a recipient of any supervisory letter from, or has adopted a board or manager resolution at the request or suggestion of, any regulatory authority or other Governmental Authority that restricts the conduct of its business or that in any manner relates to its capital adequacy, its ability to pay dividends, its credit or risk management policies, its management or its business (each, a “Regulatory Agreement”). Neither Broker-Dealer Subsidiary has been advised in writing since January 1, 2018 by any Governmental Authority that it is considering issuing or requesting any such Regulatory Agreement.
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Related to Neither Broker

  • No Broker Neither Seller nor any Affiliate of Seller has dealt with any broker, investment banker, agent or other Person, except for Buyer or an Affiliate of Buyer, who may be entitled to any commission or compensation in connection with any Transaction.

  • No Brokers The Company has taken no action which would give rise to any claim by any person for brokerage commissions, transaction fees or similar payments relating to this Agreement or the transactions contemplated hereby.

  • Finders or Brokers Neither Parent nor any of its Subsidiaries has employed any investment banker, broker or finder in connection with the transactions contemplated by this Agreement who might be entitled to any fee or any commission in connection with or upon consummation of the Merger.

  • No Brokerage The Purchaser has not incurred any obligation or liability, contingent or otherwise, for brokerage fees, finder's fees, agent's commissions, or the like in connection with this Agreement or the transactions contemplated hereby.

  • The Broker Dealer understands and agrees that in performing the services covered by this Agreement, it is acting in the capacity of an independent contractor and not as an agent or employee of PEPCO, and that it is not authorized to act for, or make any representation on behalf of, PEPCO or the Insurer except as specified herein. Broker-Dealer understands and agrees that PEPCO shall execute telephone transfer orders only in accordance with the terms and conditions of the then current prospectus applicable to the contracts and/or policies and agrees that, in consideration for the Broker-Dealer's right to exercise the telephone transfer privilege, neither PEPCO nor the Insurer will be liable for any loss, injury or damage incurred as a result of acting upon, nor will they be held responsible for the authenticity of, any telephone instructions containing unauthorized, incorrect or incomplete information. Broker-Dealer agrees to indemnify and hold harmless PEPCO and the Insurer against any loss, injury or damage resulting from any telephone exchange instruction containing unauthorized, incorrect or incomplete information received from Broker-Dealer or any of its registered representatives. (Telephone instructions are recorded on tape.)