Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC within the meaning of Section 15 of the `33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Contracts and: (a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or (b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or (c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC for inclusion therein by or on behalf of TRUST; or (d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or (e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST .
Appears in 2 contracts
Samples: Fund Participation Agreement (Ameritas Variable Separate Account Va), Participation Agreement (Ameritas Life Insurance Corp Separate Account Llva)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
: (a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
or (b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
or (c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
or (d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
or (e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 2 contracts
Samples: Fund Participation Agreement (Sun Life of Canada U S Variable Account G), Fund Participation Agreement (Separate Account Iii of Integrity Life Insurance Co)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in i conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST. TRUST shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation incurred or assessed against an Indemnified Party to the extent that such losses, claims, damages, liabilities or litigation are attributable to such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of such Indemnified Party's duties or by reason of such Indemnified Party's reckless disregard of obligations and duties under this Agreement. TRUST shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified TRUST in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify TRUST of any such claim shall not relieve TRUST from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, TRUST shall be entitled to participate at its own expense in the defense thereof. TRUST also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from TRUST to such party of TRUST's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and TRUST will not be liable to such party under this Agreement for any legal or other expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
Appears in 1 contract
Samples: Fund Participation Agreement (Lpla Separate Account One)
Indemnification by Trust. TRUST agrees to The Trust shall indemnify and hold harmless AVLIC the Custodian, any Sub-Custodian and each of its directorsany nominee thereof (each, officers, employees, an “Indemnified Party” and agents and each person, if any, who controls AVLIC within the meaning of Section 15 of the `33 Act (collectively, the "“Indemnified Parties"”) from and against any and all actual claims, demands, losses, claims, damages, expenses and liabilities of any and every nature (including amounts paid reasonable attorneys’ fees) that an Indemnified Party may actually sustain or incur or that may be asserted against an Indemnified Party by any person arising directly or indirectly (i) from the fact that Securities are registered in settlement with the written consent name of TRUST which consent shall not any such nominee, (ii) from any action taken or omitted to be unreasonably withheld) taken by the Custodian or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Contracts and:
Sub-Custodian (a) arise at the request or direction of or in reasonable reliance on the advice of the Trust, or (b) upon Written Instructions, or (iii) from the performance of its obligations under this Agreement or any sub-custody agreement, provided that neither the Custodian nor any such Sub-Custodian shall be indemnified and held harmless from and against any such claim, demand, loss, expense or liability arising out of or are based upon any untrue statement relating to its refusal or alleged untrue statement of any material fact contained failure to comply or act in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity accordance with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; Agreement (or any sub-custody agreement) or from its bad faith, negligence or willful misconduct in the performance of its duties under this Agreement (ii) or any sub custody agreement). The Custodian and Sub-Custodian shall act in good faith in a failure by commercially reasonable manner to mitigate any losses, expenses or liabilities they may suffer. This indemnity shall be a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) continuing obligation of the Code; or (iii) a failure by a Portfolio(s) invested in by Trust, its successors and assigns, notwithstanding the Separate Account termination of this Agreement, provided that the Trust’s continuing obligations to qualify as a "regulated investment company" under Subchapter M of indemnify Custodian after the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach termination of this Agreement by TRUST shall relate to solely those claims, demands, losses, expenses, and liabilities of any and every nature (including reasonable attorneys’ fees) sustained in connection with Custodian’s provision of services pursuant to this Agreement. As used in this paragraph, the terms “Custodian” and “Sub-Custodian” shall include their respective directors, officers and employees. Custodian shall endeavor to provide the Trust such reasonable estimates, including reasonable estimates related to amounts incurred for services provided hereunder, in connection with claims for which Custodian seeks indemnity from the Trust.
Appears in 1 contract
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC the COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC the COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties"" for the purposes of Sections 7.7 through 7.9) and the Variable Contract owners against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) Loss to which the Indemnified Parties may become subject under any statute, statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are Loss is related to the sale or acquisition operation of TRUST's shares or the variable Contracts TRUST and:
(a) arise arises out of or are is based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of any TRUST (or any amendment or supplement to any of the foregoing)Materials, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER NB MANAGEMENT or TRUST by or on behalf of AVLIC the Indemnified Party for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) Materials or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise arises out of or as a result from (i) of statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts Contract Material not supplied by ADVISER or TRUST NB MANAGEMENT or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or NB MANAGEMENT or persons under its their control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise arises out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectusany Contract Materials, or sales literature covering the Variable Contracts, arises out of or any amendment thereof or supplement thereto or is based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC the COMPANY for inclusion therein by or on behalf of TRUSTTRUST or NB MANAGEMENT; or
(d) arise arises as a result of (i) a failure by TRUST to perform the obligations, provide substantially the services and furnish the materials required of them under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise arises out of or result results from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST; as limited by and in accordance with the provisions of Sections 7.8 and 7.9 hereof.
Appears in 1 contract
Samples: Fund Participation Agreement (New York Life Ins & Annuity Corp Var Univ Life Sep Acc I)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) Loss to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise arises out of or are is based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus statement, prospectus, SAI or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise arises out of or are is based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise arises out of or result results from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise arises out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, SAI or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise arises as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise arises out of or result results from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise arises out of or result results from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Fund Participation Agreement (Corporate Sponsored Vul Separate Account I)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided providing that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Fund Participation Agreement (Phoenix Home Life Variable Universal Life Account /Ct/)
Indemnification by Trust. TRUST agrees and ADVISER, jointly and severally, agree to indemnify and hold harmless AVLIC LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties"" for purposes of this Section 7.4) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's Portfolio shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST Portfolio shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or ADVISER or persons under its their control, with respect to the sale or distribution of the Variable Contracts or TRUST Portfolio shares; oror 7
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUSTTRUST or ADVISER; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the any Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the any Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST or ADVISER in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST or ADVISER.
Appears in 1 contract
Samples: Participation Agreement (United of Omaha Separate Account C)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC ACACIA NATIONAL and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC ACACIA NATIONAL within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC ACACIA NATIONAL for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC ACACIA NATIONAL for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Participation Agreement (Acacia National Variable Life Insurance Separate Account 1)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC LIFE COMPANY and its affiliates and each of its their directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
(f) arise out of or result from the materially incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate.
Appears in 1 contract
Samples: Fund Participation Agreement (FSL Separate Account M)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful willfUl misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Fund Participation Agreement (Phlvic Variable Universal Life Account)
Indemnification by Trust. TRUST agrees and ADVISER, jointly and severally, agree to indemnify and hold harmless AVLIC LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties"" for purposes of this Section 7.4) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's Portfolio shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST Portfolio shares; or
(b) arise out of or result from (i) statements or representations (other than dm statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or ADVISER or persons under its their control, with respect to the sale or distribution of the Variable Contracts or TRUST Portfolio shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUSTTRUST or ADVISER; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the any Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the any Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach ' of any representation and/or warranty made by TRUST or ADVISER in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST or ADVISER.
Appears in 1 contract
Samples: Participation Agreement (Companion Life Separate Account C)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC ------------------------- LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST .TRUST. C:\TEMP\FDAGMST1.DOC 7/30/97 11
Appears in 1 contract
Samples: Fund Participation Agreement (Ameritas Life Insurance Corp Separate Account LLVL)
Indemnification by Trust. TRUST agrees to Each Fund, severally but not jointly, shall indemnify and hold harmless AVLIC the Custodian, any Sub-Custodian and each of its directorsany nominee thereof (each, officers, employees, an “Indemnified Party” and agents and each person, if any, who controls AVLIC within the meaning of Section 15 of the `33 Act (collectively, the "“Indemnified Parties"”) from and against any and all actual claims, demands, losses, claims, damages, reasonable expenses and liabilities of any and every nature (including amounts paid reasonable attorneys' fees) that an Indemnified Party may actually sustain or incur or that may be asserted against an Indemnified Party by any person arising directly or indirectly (i) from the fact that Securities are registered in settlement with the written consent name of TRUST which consent shall not any such nominee, (ii) from any action taken or omitted to be unreasonably withheld) taken by the Custodian or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Contracts and:
Sub-Custodian (a) arise at the request or direction of or in reasonable reliance on the advice of the Trust, or (b) upon Proper Instructions, or (iii) from the performance of its obligations under this Agreement or any sub-custody agreement, provided that neither the Custodian nor any such Sub-Custodian shall be indemnified and held harmless from and against any such claim, demand, loss, expense or liability arising out of or are based upon any untrue statement relating to (x) its breach of, or alleged untrue statement refusal or failure to comply with, the terms of any material fact contained in the registration statement or prospectus or sales literature of TRUST this Agreement (or any amendment sub-custody agreement) or supplement applicable law, or (y) its failure to adhere to the Standard of Care. The Custodian and Sub-Custodian shall act in good faith and in a commercially reasonable manner to mitigate any losses, expenses or liabilities they may suffer. This indemnity shall be a continuing obligation of the foregoing)Trust on behalf of the applicable Fund, or arise out its successors and assigns, notwithstanding the termination of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingthis Agreement, provided that this agreement a Fund’s continuing obligation to indemnify an Indemnified Party after the termination of this Agreement shall not apply as relate solely to those claims, demands, losses, expenses, and liabilities of any Indemnified party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC for use in the registration statement or prospectus for TRUST or in sales literature every nature (or any amendment or supplementincluding reasonable attorneys’ fees) or otherwise for use sustained in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, Custodian’s or any amendment thereof or supplement thereto or Sub-Custodian’s provision of services to that Fund pursuant to this Agreement. As used in this paragraph, the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingterms “Custodian” and “Sub-Custodian” shall include their respective directors, if such statement or omission or such alleged statement or omission was made in reliance upon officers and in conformity with information furnished in writing to AVLIC for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST employees. The Custodian shall endeavor to provide substantially the applicable Fund such reasonable estimates, including reasonable estimates related to amounts incurred for services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested provided hereunder, in by the Separate Account to comply connection with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result claims for which an Indemnified Party seeks indemnity from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST that Fund.
Appears in 1 contract
Samples: Custody Agreement (Milliman Variable Insurance Trust)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC LIFE COMPANY and each of its directors, officers, ; employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h17(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST .
Appears in 1 contract
Samples: Fund Participation Agreement (JPF Separate Account a of Jefferson Pilot Financial Ins Co)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC the COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC the COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties"" for the purposes of this Article VII) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC the COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or as a result from (i) of statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC the COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(sFund(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(sFund(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Fund Participation Agreement (Evergreen Variable Trust /Oh)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC the COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC the COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties"" for the purpose of this Article VII) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's 'S shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any an Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC the COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or as a result from (i) of statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC the COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a i)a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(sFund(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; : or (iii) a failure by a Portfolio(sFund(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Fund Participation Agreement (Great American Reserve Variable Annuity Account G)
Indemnification by Trust. TRUST agrees to Each Fund, severally but not jointly, shall indemnify and hold harmless AVLIC the Custodian, any Sub-Custodian and each of its directorsany nominee thereof (each, officers, employees, an “Indemnified Party” and agents and each person, if any, who controls AVLIC within the meaning of Section 15 of the `33 Act (collectively, the "“Indemnified Parties"”) from and against any and all actual claims, demands, losses, claims, damages, reasonable expenses and liabilities of any and every nature (including amounts paid reasonable attorneys’ fees) that an Indemnified Party may actually sustain or incur or that may be asserted against an Indemnified Party by any person arising directly or indirectly (i) from the fact that Securities are registered in settlement with the written consent name of TRUST which consent shall not any such nominee, (ii) from any action taken or omitted to be unreasonably withheld) taken by the Custodian or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Contracts and:
Sub-Custodian (a) arise at the request or direction of or in reasonable reliance on the advice of the Trust, or (b) upon Proper Instructions, or (iii) from the performance of its obligations under this Agreement or any sub-custody agreement, provided that neither the Custodian nor any such Sub-Custodian shall be indemnified and held harmless from and against any such claim, demand, loss, expense or liability arising out of or are based upon any untrue statement relating to (x) its breach of, or alleged untrue statement refusal or failure to comply with, the terms of any material fact contained in the registration statement or prospectus or sales literature of TRUST this Agreement (or any amendment sub-custody agreement) or supplement applicable law, or (y) its failure to adhere to the Standard of Care. The Custodian and Sub-Custodian shall act in good faith and in a commercially reasonable manner to mitigate any losses, expenses or liabilities they may suffer. This indemnity shall be a continuing obligation of the foregoing)Trust on behalf of the applicable Fund, or arise out its successors and assigns, notwithstanding the termination of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingthis Agreement, provided that this agreement a Fund’s continuing obligation to indemnify an Indemnified Party after the termination of this Agreement shall not apply as relate solely to those claims, demands, losses, expenses, and liabilities of any Indemnified party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC for use in the registration statement or prospectus for TRUST or in sales literature every nature (or any amendment or supplementincluding reasonable attorneys’ fees) or otherwise for use sustained in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, Custodian’s or any amendment thereof or supplement thereto or Sub-Custodian’s provision of services to that Fund pursuant to this Agreement. As used in this paragraph, the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleadingterms “Custodian” and “Sub-Custodian” shall include their respective directors, if such statement or omission or such alleged statement or omission was made in reliance upon officers and in conformity with information furnished in writing to AVLIC for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST employees. The Custodian shall endeavor to provide substantially the applicable Fund such reasonable estimates, including reasonable estimates related to amounts incurred for services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested provided hereunder, in by the Separate Account to comply connection with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result claims for which an Indemnified Party seeks indemnity from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST that Fund.
Appears in 1 contract
Samples: Custody Agreement (Milliman Variable Insurance Trust)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC NATIONWIDE and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC NATIONWIDE within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC NATIONWIDE for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC NATIONWIDE for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Fund Participation Agreement (Nationwide Vli Separate Account 4)
Indemnification by Trust. TRUST agrees to Each Fund, severally but not jointly, shall indemnify and hold harmless AVLIC the Custodian, any Sub-Custodian and each of its directorsany nominee thereof (each, officers, employees, an “Indemnified Party” and agents and each person, if any, who controls AVLIC within the meaning of Section 15 of the `33 Act (collectively, the "“Indemnified Parties"”) from and against any and all actual claims, demands, losses, claims, damages, reasonable expenses and liabilities of any and every nature (including amounts paid reasonable attorneys' fees) that an Indemnified Party may actually sustain or incur or that may be asserted against an Indemnified Party by any person arising directly or indirectly (i) from the fact that Securities are registered in settlement with the written consent name of TRUST which consent shall not any such nominee, (ii) from any action taken or omitted to be unreasonably withheld) taken by the Custodian or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Contracts and:
Sub-Custodian (a) arise at the request or direction of or in reasonable reliance on the advice of the Trust, or (b) upon Proper Instructions, or (iii) from the performance of its obligations under this Agreement or any sub-custody agreement, provided that neither the Custodian nor any such Sub-Custodian shall be indemnified and held harmless from and against any such claim, demand, loss, expense or liability arising out of or are based upon any untrue statement relating to (i) its refusal, breach or alleged untrue statement failure to comply with the terms of any material fact contained in the registration statement or prospectus or sales literature of TRUST this Agreement (or any amendment or supplement to any of the foregoingsub-custody agreement), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect failure to adhere to the sale Standard of Care. The Custodian and Sub-Custodian shall act in good faith and in a commercially reasonable manner to mitigate any losses, expenses or distribution liabilities they may suffer. This indemnity shall be a continuing obligation of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statementTrust, prospectusits successors and assigns, or sales literature covering notwithstanding the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms termination of this Agreement; or (ii) , provided that a failure by a Portfolio(s) invested in by Fund’s continuing obligations to indemnify Custodian after the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach termination of this Agreement by TRUST shall relate to solely those claims, demands, losses, expenses, and liabilities of any and every nature (including reasonable attorneys’ fees) sustained in connection with Custodian provision of services to the Fund pursuant to this Agreement. As used in this paragraph, the terms “Custodian” and “Sub-Custodian” shall include their respective directors, officers and employees. Custodian shall endeavor to provide the Fund such reasonable estimates, including reasonable estimates related to amounts incurred for services provided hereunder, in connection with claims for which Custodian seeks indemnity from the Fund.
Appears in 1 contract
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC ------------------------- LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Participation Agreement (First Variable Annuity Fund E)
Indemnification by Trust. TRUST agrees (a) Under the Selling Agreement, the Trust has agreed to indemnify and hold harmless AVLIC and each of Managing Broker-Dealer, its directorsmanagers, officersmembers, employees, directors, officers and agents including, but not limited to, its attorneys and accounts, and each person, if any, who controls AVLIC within Managing Broker-Dealer, and the meaning of Section 15 of the `33 Act (collectively, the "Indemnified Parties") Selling Group against any and all lossesloss, claimsliability, damagesclaim, liabilities damage and expense whatsoever (including amounts paid in settlement with the written consent “SBD Loss”) arising out of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Contracts andbased upon:
(a1) arise out of or are based upon any Any untrue statement or alleged untrue statement of any a material fact contained in the registration statement or prospectus or sales literature of TRUST Memorandum (or any amendment or supplement as from time to any of the foregoingtime it is amended and supplemented), or arise out in any application or other document filed in any jurisdiction in order to qualify the Interests under or exempt the offering of the Interests from the registration or are based upon qualification requirements of the securities laws thereof;
(2) The omission or the alleged omission from the Memorandum (as from time to state therein time it is amended and supplemented) of a material fact required to be stated therein or necessary to make the statements therein not misleading;
(3) The failure of the Trust to comply with any of the applicable provisions of the Securities Act, provided that this agreement to indemnify shall not apply as to any Indemnified party if such statement the Exchange Act, Regulation D, or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC for use in the registration statement or prospectus for TRUST or in sales literature (regulations thereunder, or any amendment applicable state laws or supplementregulations;
(4) Any unauthorized verbal or otherwise for use written representations in connection with the sale offering made by the Trust or its agents (other than by Managing Broker-Dealer, the Selling Group, or each of their employees or affiliates), employees or affiliates in violation of the Variable Contracts Securities Act, or TRUST sharesany other applicable federal or state securities laws and regulations; or
(5) The breach by the Trust of any term, condition, representation, warranty, or covenant of this Agreement.
(b) arise out If any action is brought against a Selling Group Member in respect of which indemnity may be sought hereunder, the Selling Group Member shall promptly notify the party or result from (i) statements or representations (other than statements or representations contained parties against whom indemnification is to be sought in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution writing of the Variable Contracts or TRUST shares; orinstitution of such action, and the Trust shall assume the defense of such action.
(c) arise The Trust agrees to promptly notify Managing Broker-Dealer of the commencement of any litigation or proceedings against the Trust or any of its officers, directors, members, managers, or agents in connection with the issuance and sale of the Interests or in connection with the Memorandum.
(d) The indemnity provided to you pursuant to this Section 6 shall not apply to the extent that any SBD Loss arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in a registration statementmade by Managing Broker-Dealer, prospectus, or sales literature covering the Variable ContractsSelling Group, or any amendment thereof other agents of Managing Broker-Dealer, or supplement thereto or the any omission or alleged omission to state therein of a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement Managing Broker-Dealer, the Selling Group, or arise out of or result from any other material breach agents of this Agreement by TRUST Managing Broker-Dealer.
Appears in 1 contract
Samples: Soliciting Dealer Agreement
Indemnification by Trust. TRUST The Trust agrees to indemnify and hold harmless AVLIC and each of UMBFS, its directorsemployees, agents, officers, employeesdirectors, affiliates and agents and each person, if any, who controls AVLIC within the meaning of Section 15 of the `33 Act nominees (collectively, the "“Indemnified Parties"”) from and against any and all claims, demands, actions and suits, and from and against any and all judgments, liabilities, losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal costs, charges, counsel fees and other expensesexpenses of every nature and character which may be asserted against or incurred by any Indemnified Party or for which any Indemnified Party may be held liable (a “Claim”) arising out of or in any way relating to which any of the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Contracts andfollowing:
(a) arise out any action or omission of UMBFS except to the extent a Claim resulted from UMBFS’ willful misfeasance, bad faith or are based upon any untrue statement or alleged untrue statement of any material fact contained negligence in the registration statement performance of its duties or prospectus from reckless disregard by it of its obligations and duties hereunder;
(b) UMBFS’ reliance on, implementation of, or sales literature use, without investigation or verification, of TRUST (information, data, records and documents received by UMBFS from the Trust, or any amendment or supplement to from a representative of any of the foregoing)parties referenced in Section 11.09, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified third party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or acting on behalf of AVLIC the Trust;
(c) the reliance on, or the implementation of, any Instructions or any other advice, instructions, requests or directions of the Trust or from a representative of any of the parties referenced in Section 11.09, or any third party acting on behalf of the Trust;
(d) UMBFS’ acting upon telephone or electronic instructions relating to the purchase, exchange or redemption of Shares received by UMBFS in accordance with procedures established by UMBFS and the Trust;
(e) any action taken by or omission of the Trust, investment adviser or sub-adviser(s) or any past or current service provider;
(f) the acceptance, processing and/or negotiation of a fraudulent payment for use the purchase of Shares unless the result of UMBFS’ or its affiliates’ willful misfeasance, bad faith or negligence in the registration statement performance of its duties or prospectus from reckless disregard by it of its obligations and duties under this Agreement. In the absence of a finding to the contrary, the acceptance, processing and/or negotiation of a fraudulent payment for TRUST the purchase of Shares shall be presumed not to have been the result of UMBFS’ or its affiliates’ willful misfeasance, bad faith or negligence.
(g) the offer or sale of Shares in violation of any requirement under the securities laws or regulations of any state that such Shares be qualified for sale in such state or in sales literature (violation of any stop order or determination or ruling by any amendment state with respect to the offer or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST sharessuch Shares in such state; or
(bh) arise out of the Trust’s refusal or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) terms of the Code; Agreement, or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M any Claim that arises out of the Code; or
(e) arise out of Trust’s negligence or result from any material misconduct or breach of any representation and/or or warranty of the Trust made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST herein.
Appears in 1 contract
Samples: Transfer Agency Agreement (Williams Capital Management Trust)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC ------------------------ LIFE COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `33 Act (collectively, 10 the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Fund Participation Agreement (Deutsche Asset Management Vit Funds)
Indemnification by Trust. TRUST agrees to indemnify and hold harmless AVLIC LIFE -------------------------- COMPANY and each of its directors, officers, employees, and agents and each person, if any, who controls AVLIC LIFE COMPANY within the meaning of Section 15 of the `'33 Act (collectively, the "Indemnified Parties") against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of TRUST which consent shall not be unreasonably withheld) or litigation or threatened litigation (including legal and other expenses) to which the Indemnified Parties may become subject under any statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of TRUST's shares or the variable Variable Contracts and:
(a) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or prospectus or sales literature of TRUST (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified party Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to ADVISER or TRUST by or on behalf of AVLIC LIFE COMPANY for use in the registration statement or prospectus for TRUST or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts or TRUST shares; or
(b) arise out of or result from (i) statements or representations (other than statements or representations contained in the registration statement, prospectus or sales literature for the Variable Contracts not supplied by ADVISER or TRUST or persons under its control) or (ii) gross negligence or wrongful conduct or willful misfeasance of TRUST or persons under its control, with respect to the sale or distribution of the Variable Contracts or TRUST shares; or
(c) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, prospectus, or sales literature covering the Variable Contracts, or any amendment thereof or supplement thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to AVLIC LIFE COMPANY for inclusion therein by or on behalf of TRUST; or
(d) arise as a result of (i) a failure by TRUST to provide substantially the services and furnish the materials under the terms of this Agreement; or (ii) a failure by a Portfolio(s) invested in by the Separate Account to comply with the diversification requirements of Section 817(h) of the Code; or (iii) a failure by a Portfolio(s) invested in by the Separate Account to qualify as a "regulated investment company" under Subchapter M of the Code; or
(e) arise out of or result from any material breach of any representation and/or warranty made by TRUST in this Agreement or arise out of or result from any other material breach of this Agreement by TRUST TRUST.
Appears in 1 contract
Samples: Participation Agreement (Titanium Universal Life Variable Account)