Common use of Conditions for Bank-Related Sales Clause in Contracts

Conditions for Bank-Related Sales. The authorization to distribute Contracts which is conferred on the Broker-Dealer and the General Agent under Article II shall not include Bank-Related Sales in connection with any Bank unless: (I) such activities are conducted under the terms of a written agreement with such Bank, which agreement complies in all respects with applicable Bank Regulatory Requirements and Variable Product Regulatory Requirements and the terms and conditions of this Agreement and to which the Bank and all related service corporations are parties (herein, a “Bank Agreement”); (ii) written notice of the execution of the Bank Agreement is provided to the Distributor in advance of the commencement of any sales and solicitation activity thereunder; and (iii) the Distributor shall not have objected to the Bank Agreement within [10] business days after receiving such notice. The Broker-Dealer or General Agent shall, upon request of the Distributor, provide the Distributor with a copy of each Bank Agreement. The Broker-Dealer and the General Agent shall promptly notify the Distributor in writing of (i) any amendment, supplement, modification or termination to or of any Bank Agreement and (ii) any failure on the part of any party to a Bank Agreement to comply fully with its terms and provisions. The Distributor reserves the right to terminate its approval of any Bank Agreement at any time upon written notice, and the Broker-Dealer and General Agent agree to take appropriate action upon receipt of such notice to terminate such Bank Agreement and wind up their activities thereunder.

Conditions for Bank-Related Sales. The authorization to distribute Contracts which is conferred on the Broker-Dealer and the General Agent under Article II shall not include Bank-Related Sales in connection with any Bank unless: (I) such activities are conducted under the terms of a written agreement with such Bank, which agreement complies in all respects with applicable Bank Regulatory Requirements and Variable Product Regulatory Requirements and the terms and conditions of this Agreement and to which the Bank and all related service corporations are parties (herein, a “Bank Agreement”); (ii) written notice of the execution of the Bank Agreement is provided to the Distributor in advance of the commencement of any sales and solicitation activity thereunder; and (iii) the Distributor shall not have objected to the Bank Agreement within [ten (10] ) business days after receiving such notice. The Broker-Dealer or General Agent shall, upon request of the Distributor, provide the Distributor with a copy of each Bank Agreement. The Broker-Dealer and the General Agent shall promptly notify the Distributor in writing of (i) any amendment, supplement, modification or termination to or of any Bank Agreement and (ii) any failure on the part of any party to a Bank Agreement to comply fully with its terms and provisions. The Distributor reserves the right to terminate its approval of any Bank Agreement at any time upon written notice, and the Broker-Dealer and General Agent agree to take appropriate action upon receipt of such notice to terminate such Bank Agreement and wind up their activities thereunder.. Rev. June 2020 17

Conditions for Bank-Related Sales. The authorization to distribute Contracts which is conferred on the Broker-Dealer and the General Agent under Article II shall not include Bank-Related Sales in connection with any Bank unless: (I) such activities are conducted under the terms of a written agreement with such Bank, which agreement complies in all respects with applicable Bank Regulatory Requirements and Variable Product Regulatory Requirements and the terms and conditions of this Agreement and to which the Bank and all related service corporations are parties (herein, a “Bank Agreement”); (ii) written notice of the execution of the Bank Agreement is provided to the Distributor in advance of the commencement of any sales and solicitation activity thereunder; and (iii) the Distributor shall not have objected to the Bank Agreement within [ten (10] ) business days after receiving such notice. The Broker-Dealer or General Agent shall, upon request of the Distributor, provide the Distributor with a copy of each Bank Agreement. The Broker-Dealer and the General Agent shall promptly notify the Distributor in writing of (i) any amendment, supplement, modification or termination to or of any Bank Agreement and (ii) any failure on the part of any party to a Bank Agreement to comply fully with its terms and provisions. The Distributor reserves the right to terminate its approval of any Bank Agreement at any time upon written notice, and the Broker-Dealer and General Agent agree to take appropriate action upon receipt of such notice to terminate such Bank Agreement and wind up their activities thereunder.