Common use of Liability of the Insurer Clause in Contracts

Liability of the Insurer. ING, Aeltus, any Investment Adviser and any Sub-Adviser and the Fund agree that neither the Insurer, nor any of its officers, trustees, directors or employees shall be liable or responsible for (except to the extent of its own or their gross negligence, willful misconduct or bad faith) (a) the use which may be made of any Policy by any Person or for any acts or omissions of another Person in connection therewith or (b) the validity, sufficiency, accuracy or genuineness of any documents delivered to the Insurer, or of any endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged. In furtherance and not in limitation of the foregoing, the Insurer may accept documents that appear on their face to be in order, without responsibility for further investigation (except to the extent that the Insurer acted with gross negligence, willful misconduct or bad faith).

Liability of the Insurer. INGPilgrim, Aeltus, any each Investment Adviser and any Sub-Adviser and the Fund agree that neither the Insurer, nor any of its officers, trustees, /directors or employees shall be liable or responsible for (except to the extent of its own or their gross negligence, willful misconduct or bad faith) (a) the use which may be made of any Policy by any Person or for any acts or omissions of another Person in connection therewith or (b) the validity, sufficiency, accuracy or genuineness of any documents delivered to the Insurer, or of any endorsement(s) thereon, even if such documents should in fact prove to be in any or all respects invalid, insufficient, fraudulent or forged. In furtherance and not in limitation of the foregoing, the Insurer may accept documents that appear on their face to be in order, without responsibility for further investigation (except to the extent that the Insurer acted with gross negligence, willful misconduct or bad faith).