Common use of Procedure on Termination Clause in Contracts

Procedure on Termination. Upon termination of this Agreement for any cause the Broker shall:- (a) immediately remit (without any counterclaim, set-off or other deduction) any monies held by him on behalf of the Company or due to the Company; (b) immediately cease to accept any monies from any third parties on behalf of the Company and shall direct such third parties to remit such monies directly to the Company; (c) cease representing or holding himself out as in any way connected with the Company unless the Company consents to the Broker servicing his client base, having regard for the trustworthiness of the Broker, and the ability and willingness of the Broker to service such client base; (d) supply the Company with such information in the Broker’s possession as a reasonable and prudent Insurer would require in the context of such termination; (e) immediately return to the Company or otherwise dispose of as the Company may instruct all pamphlets catalogues advertising material and other materials documents and papers whatsoever sent to the Broker and relating to the business of the Company (other than correspondence between the Company and the Broker) which the Broker may have in his possession or under his control; and (f) forthwith deliver up to the Company or otherwise dispose of as the Company directs the property of the Company which the Broker may have in his possession or under his control.

Procedure on Termination. Upon termination of this Agreement for any cause the Broker shall:- (a) immediately remit (without any counterclaim, set-off or other deduction) any monies held by him on behalf of the Company or due to the Company; (b) immediately cease to accept any monies from any third parties on behalf of the Company and shall direct such third parties to remit such monies directly to the Company; (c) cease representing or holding himself out as in any way connected with the Company unless the Company consents to the Broker servicing his client base, having regard for the trustworthiness of the Broker, and the ability and willingness of the Broker to service such client base; (d) supply the Company with such information in the Broker’s possession as a reasonable and prudent Insurer would require in the context of such termination; (e) immediately return to the Company or otherwise dispose of as the Company may instruct all pamphlets catalogues pamphlets, catalogues, advertising material and other materials material documents and papers whatsoever sent to the Broker and relating to the business of the Company (other than correspondence between the Company and the Broker) which the Broker may have in his possession or under his control; and (f) forthwith deliver up to the Company or otherwise dispose of as the Company directs the property of the Company Company, which the Broker broker may have have, in his possession or under his control.