Common use of ELECTRONIC DELIVERY PROCEDURES Clause in Contracts

ELECTRONIC DELIVERY PROCEDURES. Following the execution of this Agreement, the Parties shall work diligently and promptly to develop mutually agreeable procedures regarding electronic delivery ("Electronic Delivery Procedures" or "Procedures"). The Procedures shall address matters such as: (a) the security and confidentiality of information to be transmitted using electronic delivery, (b) the nature of any systems integration or protocols necessary or appropriate to facilitate the accurate and timely electronic delivery of information between or among the Parties or the accurate and timely electronic delivery of any information required by law to be delivered to Fund shareholders and/or existing or prospective Contract owners (collectively, "required information"), (c) the format of any information to be delivered by AVIF or AIM to INSURER and the timing of such delivery, (d) the maintenance of any books and records to be stored electronically, and (e) the backup plans to be followed in the event of any failed electronic delivery. Notwithstanding any other provision herein, in the absence of an agreement among the Parties on the Electronic Delivery Procedures, INSURER shall not use electronic delivery to transmit any information to AVIF or AIM, or to disseminate any required information prepared by or concerning AVIF, AIM, or any Fund to any Fund shareholder or existing or prospective Contract owners and shall instead communicate or disseminate the same using the other means specified in this Agreement.