Common use of Neither Broker Clause in Contracts

Neither Broker. Dealer nor Insurance Agent shall expend or contract for the expenditure of the funds of Life Company. Broker-Dealer and Insurance Agent each shall pay all expenses incurred by each of them in the performance of this Agreement, unless otherwise specifically provided for in this Agreement or unless Life Company and Distributor shall have agreed in advance in writing to share the cost of certain expenses. Initial and renewal state appointment fees for Insurance Agent and appointees of Insurance Agent as Agents of Life Company will be paid by Life Company according to the terms set forth in the rules and regulations as may be adopted by Life Company from time-to-time. Neither Broker-Dealer nor Insurance Agent shall possess or exercise any authority on behalf of Distributor or Life Company other than that expressly conferred on Broker-Dealer or Insurance Agent by this Agreement. In particular, and without limiting the foregoing, neither Broker-Dealer nor Insurance Agent shall have any authority, nor shall either grant such authority to any Agent, on behalf of Distributor or Life Company: to make, alter or discharge any Contract or other contract entered into pursuant to a Contract; to waive any Contract forfeiture provision; to extend the time of paying any Premiums; or to receive any monies or Premiums from applicants for or purchasers of the Contracts (except for the sole purpose of forwarding monies or Premiums to Life Company).

Neither Broker. Dealer nor Insurance Agent shall expend or contract for the expenditure of the funds of Life Company. Broker-Dealer and Insurance Agent each shall pay all expenses incurred by each of them in the performance of this Agreement, unless otherwise specifically provided for in this Agreement or unless Life Company and Distributor shall have agreed in advance in writing to share the cost of certain expenses. Initial and renewal state appointment fees for Insurance Agent and appointees of Insurance Agent as Agents of Life Company will be paid by Life Company according to the terms set forth in the rules and regulations as may be adopted by Life Company from time-to-time. Neither Broker-Dealer nor Insurance Agent shall possess or exercise any authority on behalf of Distributor or Life Company other than that expressly conferred on Broker-Dealer or Insurance Agent by this Agreement. In particular, and without limiting the foregoing, neither Broker-Dealer nor Insurance Agent shall have any authority, nor shall either grant such authority to any Agent, on behalf of Distributor or Life Company: to make, alter or discharge any Contract or other contract entered into pursuant to a Contract; to waive any Contract forfeiture provision; to extend the time of paying any Premiums; or to receive any monies or Premiums from applicants for or purchasers of the Contracts (except for the sole purpose of forwarding monies or Premiums to Life Company).