Common use of POLICY DELIVERY Clause in Contracts

POLICY DELIVERY. Insurer will transmit Variable Contracts to Broker-Dealer for delivery to Policyowners. Broker-Dealer hereby agrees to deliver all such Variable Contracts to Policyowners within ten (10) days of their receipt by Broker-Dealer from Insurer. Broker-Dealer agrees to indemnify and hold harmless Insurer for any and all losses caused by Broker-Dealer's failure to perform the undertakings described in this paragraph. Broker-Dealer hereby authorizes Insurer to set off any amount it owes Insurer under this paragraph against any and all amounts otherwise payable to Broker-Dealer by Insurer.

POLICY DELIVERY. Insurer will transmit Variable Contracts and Traditional Life Insurance Policies to Broker-Dealer for delivery to Policyowners. Broker-Dealer hereby agrees to deliver all such Variable Contracts to Policyowners within ten (10) days of their receipt by Broker-Dealer from Insurer. Broker-Dealer agrees to indemnify and hold harmless Insurer for any and all losses caused by Broker-Dealer's failure to perform the undertakings described in this paragraph. Broker-Dealer hereby authorizes Insurer to set off any amount it owes Insurer under this paragraph against any and all amounts otherwise payable to Broker-Dealer by Insurer.

POLICY DELIVERY. Insurer will transmit Variable Contracts to Broker-/Dealer for delivery to Policyowners. Broker-/Dealer hereby agrees to deliver all such Variable Contracts to Policyowners within ten (10) days of their receipt by Broker-/Dealer from Insurer. Broker-/Dealer agrees to indemnify and hold harmless Insurer for any and all losses caused by Broker-/Dealer's failure to perform the undertakings described in this paragraph. Broker-/Dealer hereby authorizes Insurer to set off any amount it owes Insurer under this paragraph against any and all amounts otherwise payable to Broker-/Dealer by Insurer.