Common use of Insurance Licensing Clause in Contracts

Insurance Licensing. Wholesaler shall, at all times when performing its functions under this Agreement, be validly licensed as an insurance agent or agency in the states and other local jurisdictions that require such licensing or registration in connection with the Wholesaler's variable life insurance and variable annuity contract sales activities; or, in those states in which Wholesaler cannot or does not obtain a corporate agent's license, shall maintain an ownership interest in, or contractual relationship with, Agency, which shall be validly licensed as an insurance agency in such jurisdiction or jurisdictions. Such contractual relationship shall be set forth in an agreement substantially equivalent to that set forth as Exhibit B. Any personnel through which Wholesaler acts shall be licensed individually as required. Wholesaler shall provide Insurer with a list of all licensed insurance agencies relied upon by Wholesaler to comply with this paragraph and covenants to maintain the completeness and accuracy of such list, and to cause each such agency to become a signatory hereto.