Common use of NOTICE OF RIGHT TO EXAMINE CONTRACT Clause in Contracts

NOTICE OF RIGHT TO EXAMINE CONTRACT. Within 10 days after this Contract is first received, it may be cancelled for any reason without penalty (e.g., no Contingent Deferred Sales Charge will be deducted) by delivering or mailing it to the representative through whom it was purchased or to the Servicing Office of LNY. When the Contract is received at the Servicing Office, LNY will return the Contract Value plus an amount to reflect any deducted daily charges (daily charges are described in Section 3.04) as of the date of cancellation where permitted by law.

NOTICE OF RIGHT TO EXAMINE CONTRACT. Within 10 days after this Contract is first received, it may be cancelled for any reason without penalty (e.g., no Contingent Deferred Sales Charge will be deducted) by delivering or mailing it to the representative through whom it was purchased or to the Servicing Office of LNY. When the Contract is received at the Servicing Office, LNY will return the Contract Value Variable Account plus an amount to reflect any deducted daily charges (daily charges are described in Section 3.04) and any Gross Purchase Payments made to the DCA Fixed Account as of the date of cancellation where permitted by law.