Common use of CONTRACT AND SEPARATE ACCOUNT Clause in Contracts

CONTRACT AND SEPARATE ACCOUNT. ADMINISTRATION (a) Security Benefit shall be responsible for the insurance underwriting, issuance, service, and administration of the Contracts and for the administration of the Separate Accounts, including, without limitation, maintenance of a toll-free telephone service center, such function to be performed in all respects at a level commensurate with those standards prevailing in the variable insurance industry. Security Benefit has developed procedures for performing such underwriting, issuing, servicing and administrative functions, which procedures are set forth in the Manual. Security Benefit shall not materially amend or supplement the Manual or adopt or implement any other administrative rules, procedures or systems without first giving Investment Services an opportunity to review any such material and obtaining Investment Services' written consent. (b) Nothing in this Section 3.5 shall relieve Security Benefit of its duty, or otherwise diminish such duty, to perform its obligations under this Agreement, nor shall this Section relieve Security Benefit of its liabilities, or otherwise diminish such liabilities, for its failure to perform its obligations under this Agreement.