Common use of Insurance Company Not a Party Clause in Contracts

Insurance Company Not a Party. The Insurer (i) shall not be deemed a party to this Agreement for any purpose nor in any way responsible for its validity; (ii) shall not be obligated to inquire as to the validity or legality of the distribution of any monies payable or paid by it under the Insurance Policy(ies); and (iii) shall be fully discharged from any and all liability under the terms of the Insurance Policy(ies) upon payment or other performance of its obligations in accordance with the terms of the Insurance Policy(ies). The Insurer shall not be bound by or be deemed to have notice of the provisions of this Agreement.