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 to Broker Dealer for delivery to Policyownerspolicyowners. 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.