Common use of POLICY ISSUANCE Clause in Contracts

POLICY ISSUANCE. With respect to applications for coverage submitted to and accept by Company, Agent will timely and properly deliver and execute or countersign, if necessary, contracts of insurance, policies, certificate, endorsements, memoranda and binders (collectively, "Policies") as directed by Company. Such Policies shall not, however, be delivered by Agent unless Agent has collected the initial premium as required by Company.

POLICY ISSUANCE. With respect to applications for coverage submitted to and accept by Company, Agent will timely and properly deliver and execute or countersign, if necessary, contracts of insurance, policies, certificatecertificates, endorsements, memoranda and binders (collectively, "Policies") as directed by Company. Such Policies shall not, however, be delivered by Agent unless Agent has collected the initial premium as required by Company.