Limits on Authority. This Agreement notwithstanding, The Travelers retains the ultimate right to control the sale of the Contracts, including the right to suspend sales in any jurisdiction or jurisdictions, to appoint and discharge agents of The Travelers, or to refuse to sell a Contract to any applicant for any reason whatsoever. Furthermore, the Distributor and its representatives shall not have authority, on behalf of The Travelers: to make, alter, or discharge any Contract or other variable contract entered into pursuant to a Contract; to waive any Contract forfeiture provision; to extend the time of paying any premium, or to receive any monies or premiums. The Distributor shall not expend, nor contract for the expenditure of, the funds of The Travelers. The Distributor shall not possess or exercise any authority on behalf of The Travelers other than that expressly conferred on the Distributor by this Agreement.
Appears in 8 contracts
Samples: Distribution and Principal Underwriting Agreement (Travelers Insurance Co), Distribution and Principal Underwriting Agreement (Travelers Separate Account Five for Variable Annuities), Distribution and Principal Underwriting Agreement (Travelers Separate Account Seven for Variable Annuities)
