INSURER'S PROTECTIVE CLAUSE. Any insurer who shall issue Contracts hereunder shall not have any responsibility for the validity of this Plan or for the tax or legal aspects of this Plan. The insurer shall be protected and held harmless in acting in accordance with any written direction of the Trustee, and shall have no duty to see to the application of any funds paid to the Trustee, nor be required to question any actions directed by the Trustee. Regardless of any provision of this Plan, the insurer shall not be required to take or permit any action or allow any benefit or privilege contrary to the terms of any Contract which it issues hereunder, or the rules of the insurer.
Appears in 6 contracts
Samples: Retirement & Profit Sharing Plan (Telxon Corp), Retirement & Profit Sharing Plan (Aironet Wireless Communications Inc), 401(k) Savings Plan and Trust Agreement (Fulton Financial Corp)
INSURER'S PROTECTIVE CLAUSE. Any insurer who shall issue Contracts a Contract hereunder shall not have any responsibility for the validity of this Plan or for the tax or legal aspects of this Plan. The insurer shall be protected and held harmless in acting in accordance with any written direction of the Trustee, and shall have no duty to see to the application of any funds paid to the Trustee, nor be required to question any actions directed by the Trustee. Regardless of any provision of this Plan, the insurer shall not be required to take or permit any action or allow any benefit or privilege contrary to the terms of any Contract which it issues hereunder, or the rules of the insurer.
Appears in 5 contracts
Samples: Basic Plan Document (Fairfax Financial Holdings LTD/ Can), Adoption Agreement (Sonic Corp), Adoption Agreement (BRPP LLC)
