Modification of Contracts; Suspension or Restriction of Sales. (a) FIRST GREAT-WEST may modify the terms of any Contract, to the extent permitted or required by applicable law. Any modification, other than a modification required to be made to conform the Contracts to a change in applicable law, shall be approved by SCHWAB, which approval shall not be unreasonably withheld. SCHWAB may, from time to time, propose modifications to the terms of any Contract, and FIRST GREAT-WEST agrees to implement any such modification in a timely manner, subject to FIRST GREAT-WEST's approval, which shall not be unreasonably withheld. Prior to implementation of any modification, the Parties must mutually agree on such change or changes and agree as to who will bear the costs associated with such change.
Appears in 3 contracts
Samples: Distribution Agreement (Variable Annuity I Ser Acc of Fir GRT West Li & Annu Ins Co), Distribution Agreement (First Great West Life & Annuity Insurance Co), Distribution Agreement (First Great West Life & Annuity Insurance Co)
Modification of Contracts; Suspension or Restriction of Sales. (a) FIRST GREAT-WEST may modify the terms of any Contract, to the extent permitted or required by applicable law. Any modification, other than a modification required to be made to conform the Contracts to a change in applicable law, shall be approved by SCHWAB, which approval shall not be unreasonably withheld. SCHWAB may, from time to time, propose modifications to the terms of any Contract, and FIRST GREAT-WEST agrees to implement any such modification in a timely manner, subject to FIRST GREAT-WEST's approval, which shall not be unreasonably withheld. Prior to implementation of any modification, the Parties must mutually agree on such change or changes and agree as to who will bear the costs associated with such change.
Appears in 1 contract
Samples: Distribution Agreement (Great West Life & Annuity Insurance Co)
