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Unless otherwise negotiated, DELTA DENTL agrees to establish a commission rate based upon projected annual revenue at the time of underwriting and pay said BROKER at the established rate on first year and subsequent years premium pais in cash to DELTA DENTAL under any individually rated group dental program sold by DELTA DENTAL on which DELTA DENTAL is advised in advance of quoting rates that the BROKER is designated as Broker of Record for the specific group.
Commission subject to the term and conditions o the Agreement, shall be paid to the BROKER/AGENCY as long as BROKER/AGENCY:
(1) is continuously and actively engaged as a licensed BROKER/AGENCY;
(2) continues to be designated by the group named in the Master Dental Group Contract as the BROKER/AGENCY with respect to such group;
(3) services the group in a manner satisfactory to DELTA DENTAL; and,
(4) the original Master Dental Group Contract for which this Agreement is executed has not been terminated.
Upon receipt of a completed and signed Taxpayer Identification Number Request or W-9 Form, commission shall be payable to the extent respective dues are paid DELTA DENTAL within thirty (30) days after the end of the Calendar Month. If a premium adjustment shall be made for any period, then a corresponding adjustment shall be made in BROKER's/AGENCIES commission for such period and adjustment made on next commission payment or refunded at DELTA DENTAL's option.
Any indebtedness of BROKER/AGENCY to DELTA DENTAL shall be first lien against any commission due paid BROKER/AGENCY o his representative or assigns under this Agreement and such commissions shall be applied to liquidate such indebtedness.
No assignment, transfer or disposal of any interest that BROKER/AGENCY may have on account of the Agreement shall be made at any time without written approval of DELTA DENTAL.
DELTA DENTAL may, as its option, be responsible for enrolling and servicing the group and BROKER/AGENCY hereby agrees to abide by the elected option of DELTA DENTAL, however, in either event, BROKER/AGENCY agrees to render satisfactory services as directed by DELTA DENTAL.
By signing this Agreement, I represent that I am a duty licensed insurance agent by the State of Minnesota and that no disciplinary actions are pending against me.
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