Common use of Issuance of Contracts Clause in Contracts

Issuance of Contracts. CLICA and CLAFS hereby undertake to use their best efforts, subject to the standards set forth in the Registration Statement, (i) to maintain a continuous offering of the Contracts and (ii) to ensure that applications to purchase units of interest under the Contracts shall be acceptable to CLICA and that the Contracts shall be issued pursuant to such applications and (iii) to ensure that all purchase payments be processed at the accumulation unit value determined in the manner as described in the Registration Statement. It is understood that a Contract shall not be issued unless and until the purchase payments and application received relating to such Contract are sufficient to satisfy CLICA's eligibility requirements as set forth in the Contracts and the requirements of applicable state insurance law. Selixxxx Xxxancial agrees that all applications for the Contracts shall be made on the application forms supplied by CLICA. Selixxxx Xxxancial agrees to instruct Selling Firms to (i) review the applications for completeness and correctness as to form, (ii) review all applications for suitability, and (iii) to promptly forward to CLICA all applications found to be complete together with any purchase payments received with the applications received. Any additional purchase payments, to the extent permitted by the Contract shall also be remitted directly to CLICA.

Issuance of Contracts. CLICA CLNY and CLAFS hereby undertake to use their best efforts, subject to the standards set forth in the Registration Statement, (i) to maintain a continuous offering of the Contracts and (ii) to ensure that applications to purchase units of interest under the Contracts shall be acceptable to CLICA CLNY and that the Contracts shall be issued pursuant to such applications and (iii) to ensure that all purchase payments be processed at the accumulation unit value determined in the manner as described in the Registration Statement. It is understood that a Contract shall not be issued unless and until the purchase payments and application received relating to such Contract are sufficient to satisfy CLICACLNY's eligibility requirements as set forth in the Contracts and the requirements of applicable state New York insurance law. Selixxxx Xxxancial agrees that all applications for the Contracts shall be made on the application forms supplied by CLICACLNY. Selixxxx Xxxancial agrees to instruct Selling Firms to (i) review the applications for completeness and correctness as to form, (ii) review all applications for suitability, and (iii) to promptly forward to CLICA CLNY all applications found to be complete together with any purchase payments received with the applications received. Any additional purchase payments, to the extent permitted by the Contract shall also be remitted directly to CLICACLNY.

Issuance of Contracts. CLICA CLNY and CLAFS hereby undertake to use their best efforts, subject to the standards set forth in the Registration Statement, (i) to maintain a continuous offering of the Contracts and (ii) to ensure that applications to purchase units of interest under the Contracts shall be acceptable to CLICA CLNY and that the Contracts shall be issued pursuant to such applications and (iii) to ensure that all purchase payments be processed at the accumulation unit value determined in the manner as described in the Registration Statement. It is understood that a Contract shall not be issued unless and until the purchase payments and application received relating to such Contract are sufficient to satisfy CLICACLNY's eligibility requirements as set forth in the Contracts and the requirements of applicable state New York insurance law. Selixxxx Xxxancial Xxxxxxxx Financial agrees that all applications for the Contracts shall be made on the application forms supplied by CLICACLNY. Selixxxx Xxxancial Xxxxxxxx Financial agrees to instruct Selling Firms to (i) review the applications for completeness and correctness as to form, (ii) review all applications for suitability, and (iii) to promptly forward to CLICA CLNY all applications found to be complete together with any purchase payments received with the applications received. Any additional purchase payments, to the extent permitted by the Contract shall also be remitted directly to CLICACLNY.

Issuance of Contracts. CLICA and CLAFS hereby undertake to use their best efforts, subject to the standards set forth in the Registration Statement, (i) to maintain a continuous offering of the Contracts and (ii) to ensure that applications to purchase units of interest under the Contracts shall be acceptable to CLICA and that the Contracts shall be issued pursuant to such applications and (iii) to ensure that all purchase payments be processed at the accumulation unit value determined in the manner as described in the Registration Statement. It is understood that a Contract shall not be issued unless and until the purchase payments and application received relating to such Contract are sufficient to satisfy CLICA's eligibility requirements as set forth in the Contracts and the requirements of applicable state insurance law. Selixxxx Xxxancial Xxxxxxxx Financial agrees that all applications for the Contracts shall be made on the application forms supplied by CLICA. Selixxxx Xxxancial Xxxxxxxx Financial agrees to instruct Selling Firms to (i) review the applications for completeness and correctness as to form, (ii) review all applications for suitability, and (iii) to promptly forward to CLICA all applications found to be complete together with any purchase payments received with the applications received. Any additional purchase payments, to the extent permitted by the Contract shall also be remitted directly to CLICA.