Common use of Protective Clause Clause in Contracts

Protective Clause. (a) If the Participant, Plan Administrator, Investment Manager or other authorized person instructs that an investment be made in a bank or insurance company investment contract or annuity contract, the Master Custodial Administration Agreement Administrator is not responsible for the form, genuineness, validity, sufficiency or effect of the contract or the failure of any issuing company to make payments provided by any contract or for the action of any person that may delay payment or render a contract null and void or unenforceable in whole or in part or for the fact that for any reason whatsoever any contract shall lapse or otherwise be uncollectible. (b) If the Participant, Plan Administrator, Investment Manager or other authorized person instructs that an investment be made in a life insurance company contract or bank guaranteed investment contract or annuity contract, the Master Custodial Administration Agreement Administrator is not responsible for the validity of the contract or the failure of any bank or insurance company to make payments provided by any contract or for the action of any person which may delay payment or render a contract null and void or unenforceable in whole or in part.

Protective Clause. (a) If the Participant, Plan Administrator, Investment Manager or other authorized person instructs that an investment be made in a bank or insurance company investment contract or annuity contract, the Master Custodial Administration Agreement Administrator is not responsible for the form, genuineness, validity, sufficiency or effect of the contract or the failure of any issuing company to make payments provided by any contract or for the action of any person that may delay payment or render a contract null and void or unenforceable in whole or in part or for the fact that for any reason whatsoever any contract shall lapse or otherwise be uncollectible. (b) If the Participant, Plan Administrator, Investment Manager or other authorized person instructs that an investment be made in a life insurance company contract or bank guaranteed investment contract or annuity contract, the Master Custodial Administration Agreement Administrator is not responsible for the validity of the contract or the failure of any bank or insurance company to make payments provided by any contract or for the action of any person which may delay payment or render a contract null and void or unenforceable in whole or in partinpart.