Common use of Development of and Responsibility for Sales Literature Clause in Contracts

Development of and Responsibility for Sales Literature. (a) The Company shall develop all Sales Literature for the Contracts. All Sales Literature will be reviewed by the parties and submitted for approval in accordance with Sections 2.2(b) and 2.2(c) hereof. Notwithstanding anything in this Agreement to the contrary, neither party shall be liable to the other for any loss that arises out of or results from such other party’s failure to comply with Sections 2.2(b) or 2.2(c) hereof. (b) The Distributor shall be fully responsible for (1) ensuring that the Sales Literature complies in all respects with the rules and regulations of the Commission (including Rule 156 under the Securities Act) and all applicable federal and state securities laws, (2) ensuring that the Sales Literature complies with the rules and regulations of FINRA, including, without limitation, applicable standards of content under NASD Rule 2210, and (3) filing the Sales Literature with FINRA and any other securities regulatory authorities. (c) The Company shall be fully responsible for ensuring that the Sales Literature complies in all respects with the insurance laws of the states where the Sales Literature is used and filing the Sales Literature with state insurance regulatory authorities when required by applicable law.

Development of and Responsibility for Sales Literature. (a) The Company shall develop all Sales Literature for the Contracts. All Sales Literature will be reviewed by the parties and submitted for approval in accordance with Sections 2.2(b) and 2.2(c) hereof. Notwithstanding anything in this Agreement to the contrary, neither party shall be liable to the other for any loss that arises out of or results from such other party’s failure to comply with Sections 2.2(b) or 2.2(c) hereof. (b) The Distributor shall be fully responsible for (1) ensuring that the Sales Literature complies in all respects with the rules and regulations of the Commission (including Rule Rules 156 and 482 under the Securities Act) and all applicable federal and state securities laws, (2) ensuring that the Sales Literature complies with the rules and regulations of FINRA, including, without limitation, applicable standards of content under NASD Rule 2210, and (3) filing the Sales Literature with FINRA and any other securities regulatory authorities. (c) The Company shall be fully responsible for ensuring that the Sales Literature complies in all respects with the insurance laws of the states where the Sales Literature is used and filing the Sales Literature with state insurance regulatory authorities when required by applicable law.