Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer and: (A) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company shares; or (B) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company shares; or (C) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment Company; or (D) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof. (ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts. (iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation. (iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 4 contracts
Sources: Participation Agreement (TFLIC Separate Account VNY), Participation Agreement (Merrill Lynch Life Variable Annuity Separate Account A), Participation Agreement (Ml of New York Variable Annuity Separate Account A)
Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s 's shares or the Variable Contracts issued by the Insurer and:
(A) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company shares; or
(B) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company shares; or
(C) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment Company; or
(D) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s 's duties or by reason of the Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 4 contracts
Sources: Fund Participation Agreement (Jefferson National Life Annuity Account G), Fund Participation Agreement (Jefferson National Life Annuity Account F), Fund Participation Agreement (Jefferson National Life Annuity Account C)
Indemnification by the Distributor. (i) The Distributor agrees to shall indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each person, if any, person who controls or is affiliated with the Insurer Company within the meaning of Section 15 of such terms under the 1933 Act or who is under common control with 1940 Act and any officer, director, employee or agent of the Insurer (collectivelyforegoing, the “Indemnified Parties” for purposes of this Section 7(b)) against any and all losses, claims, damagesdamages or liabilities, liabilities joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement with the written consent of the Distributor) of, any action, suit or litigation expenses (including legal and other expenses) proceeding or any claim asserted), to which the Indemnified Parties they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities damages or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer andliabilities:
(Aa) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Trust Registration Statement, Trust Prospectus or sales literature or other promotional material of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, misleading in light of the circumstances in which they were made; provided that this agreement obligation to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or alleged omission was made in reliance upon and in conformity with information furnished in writing by the Company to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Trust for use in the registration statement Trust Registration Statement, Trust Prospectus or Prospectus sales literature or promotion material for the Investment Company or in sales literature Trust (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(B) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company shares; or
(Cb) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statementthe Contracts Registration Statement, Prospectus, Contracts Prospectus or sales literature covering or other promotional material for the Variable Contracts issued by the Insurer, (or any amendment thereof or supplement theretoto any of the foregoing), or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleadingmisleading in light of the circumstances in which they were made, if such statement or omission was made in reliance upon information furnished in writing by the Distributor to the Insurer by or on behalf of the Investment Company; or
(Dc) arise out of or are based upon wrongful conduct of the Distributor or persons under its control (or subject to it authorization) with respect to the sale of Trust shares; or
(d) arise as a result from of any failure by the Distributor or persons under its control (or subject to its authorization) to provide services, furnish materials or make payments as required under the terms of this Agreement; or
(e) arise out of any material breach of any representation and/or warranty made by the Distributor in this Agreement Trust or arise out of persons under its control (or result from any other material breach subject to its authorization) of this Agreement by (including any breach of Section 6.1 of this Agreement and any warranties contained in Article III hereof). This indemnification will be in addition to any liability that the DistributorDistributor may otherwise have; except provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is due to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to duty by the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigationseeking indemnification.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Participation Agreement (Sti Classic Variable Trust), Participation Agreement (Allstate Financial Advisors Separate Account I), Participation Agreement (Lincoln Benefit Life Variable Annuity Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale sale, issuance or acquisition of of, or investment in, the Investment Company’s Funds’ shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of a Fund prepared by the Investment Company Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company a Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations by or on behalf of Distributor (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofDistributor) or wrongful conduct of the Investment Company Distributor or Distributorpersons under their control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor or a Fund; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorDistributor(including, without limitation, any material breach, whether unintentional or in good faith or otherwise, of the representations, warranties, or covenants set forth in Section 2.10 of this Agreement); except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting by the Distributor of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel reasonably satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Indemnified Parties agree promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors them in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 3 contracts
Sources: Participation Agreement (Separate Account No. 70 of AXA Equitable Life Insurance Co), Participation Agreement (Separate Account No. 70 of AXA Equitable Life Insurance Co), Participation Agreement (Separate Acct No 49 of Axa Equitable Life Insurance Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or credibly alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the credibly alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Insurance Parties for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or credibly alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or credibly alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer an Insurance Party by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.4(b) and 7(b)(iii7.4(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Each Insurance Party agrees to promptly notify the Distributor of the commencement of any material litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Fund Participation Agreement (Variable Annuity I Ser Acc of GRT West Li & Annu Ins Co of Ny), Fund Participation Agreement (Variable Annuity I Ser Acc of GRT West Li & Annu Ins Co of Ny), Fund Participation Agreement (Variable Annuity 1 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and the Trust and each of its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” and individually, “Indemnified Party,” for purposes of this Section 7(b)7.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares Funds’ Shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of any material fact contained provided in the registration statement or Prospectus prospectus or statement of additional information or sales literature of the Investment Company Funds (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement, prospectus or statement or Prospectus of additional information for the Investment Company Funds or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesFund Shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, statement of additional information or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesFund Shares; or
(Ciii) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of a any material fact contained in a the registration statement, Prospectusprospectus, statement of additional information or sales literature covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof amendments or supplement supplements thereto, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust by the Distributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement applicable to the Distributor; or
(v) arise out of or result from any material breach of any representation representation, warranty and/or warranty agreement made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to , as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii7.3(b) and 7(b)(iii7.3(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which incurred or assessed against an Indemnified Party would otherwise be subject by reason of as such may arise from such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or and duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will shall be entitled to participate, at is its own expense, in the defense thereofof such action. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the actionaction and to settle the claim at its own expense; provided, however, that no such settlement shall, without the Indemnified Party’s written consent, include any factual stipulation related to the Indemnified Party or its conduct. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation, but, in case the Distributor does not elect to assume the defense of any such suit, the Distributor will reimburse the Indemnified Party in such suit, for the reasonable fees and expenses of any counsel retained by it.
(ivd) The Insurer shall Company will promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 3 contracts
Sources: Fund Participation Agreement (Wilshire Variable Insurance Trust), Fund Participation Agreement (Jefferson National Life Annuity Account G), Fund Participation Agreement (Wilshire Variable Insurance Trust)
Indemnification by the Distributor. (i7.2(a) The Distributor agrees to indemnify and hold harmless the Insurer Insurer, its affiliated principal underwriter of the Variable Contracts, and its affiliates, agents, employees, each of their directors and officers and each person, if any, who controls any affiliated person of the Insurer within the meaning of Section 15 2(a)(3) of the 1933 1940 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company Fund or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company Fund or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyFund; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii7.2(c) hereof.
(ii7.2(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii7.2(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv7.2(d) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Fund Participation Agreement (Separate Account Va Qny), Fund Participation Agreement (TFLIC Separate Account VNY), Fund Participation Agreement (Standard Insurance Co)
Indemnification by the Distributor. (i) The Distributor hereby agrees to to, and shall, indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each person, if any, person who controls or is affiliated with the Insurer Company within the meaning of Section 15 of such terms under the 1933 Act or who is under common control with 1940 Act and any officer, director, employee or agent of the Insurer (collectivelyforegoing, the “Indemnified Parties” for purposes of this Section 7(b)) against any and all losses, claims, damagesdamages or liabilities, liabilities joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement with the written consent of the Distributor) of, any action, suit or litigation expenses (including legal and other expenses) proceeding or any claim asserted), to which the Indemnified Parties they or any of them may become subject under any statute or regulation, at common law Jaw or otherwise, insofar as such losses, claims, damages, liabilities damages or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer andliabilities:
(Aa) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement Trust Registration Statement, any Prospectus for Series or Prospectus Classes or sales literature or other promotional material of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made: provided that this obligation to indemnify shall not apply if such statement or omission was made in reliance upon and in conformity with information furnished in writing by the Company to the Trust or Distributor for use in the Trust Registration Statement. Trust Prospectus or sales literature or promotional material for the Trust (or any amendment or supplement to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust shares; or
(b) arise out of any untrue statement of a material fact contained in the Contracts Registration Statement. Contracts Prospectus or sales literature or other promotional material for the Contracts (or any amendment or supplement to any of the foregoing), or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made misleading in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf light of the Insurer for use circumstances in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company shares; or
(B) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company shares; or
(C) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleadingwhich they were made, if such statement or omission was made in reliance upon information furnished in writing by the Distributor to the Insurer by or on behalf of the Investment Company; or
(Dc) arise out of or are based upon wrongful conduct of the Distributor or persons under its control with respect to the sale of Trust shares; or
(d) arise as a result from of any failure by the Distributor or persons under its control to provide services, furnish materials or make payments as required under the terms of this Agreement; or
(e) arise out of any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach persons under its control of this Agreement by (including any breach of Section 6.1 of this Agreement and any warranties contained in Article Ill hereof); it being understood that in no way shall the Distributor; except Distributor be liable to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision Company with respect to any lossesviolation of insurance law, claims, damages, liabilities compliance with which is a responsibility of the Company under this Agreement or litigation expenses otherwise or as to which an Indemnified Party would the Company failed to inform the Distributor in accordance with Section 4.4 hereof. This indemnification is in addition to any liability that the Distributor may otherwise have; provided, however, that no party shall be subject entitled to indemnification if such loss, claim, damage or liability is caused by reason of the willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to duty by the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigationseeking indemnification.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Participation Agreement (Variable Annuity-2 Series Account), Participation Agreement (Variable Annuity-2 Series Account), Participation Agreement (Variable Annuity-2 Series Account)
Indemnification by the Distributor. (i8.3(a) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.3) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.3(b) and 7(b)(iii8.3(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(ii8.3(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iii8.3(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv8.3(d) The Insurer shall agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 3 contracts
Sources: Fund Participation Agreement (COLI VUL-2 Series Account of Great-West Life & Annuity Insurance Co of New York), Fund Participation Agreement (Coli Vul 2 Series Account), Fund Participation Agreement (COLI VUL-2 Series Account of Great-West Life & Annuity Insurance Co of New York)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)7.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either by or Fund byor on behalf of the Insurer Insurance Parties for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bi) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Cii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer and Insurance Party by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Diii) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(iv) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(v) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.4(b) and 7(b)(iii7.4(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Each Insurance Party agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Fund Participation Agreement (Variable Annuity-2 Series Account), Fund Participation Agreement (Variable Annuity-2 Series Account), Fund Participation Agreement (Variable Annuity-2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurer, its affiliated principal underwriter of the Variable Contracts, and its affiliates, agents, employees, each of their directors and officers and each person, if any, who controls any affiliated person of the Insurer within the meaning of Section 15 2(a)(3) of the 1933 1940 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company Fund or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company Fund or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyFund; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii7.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Participation Agreement (Companion Life Separate Account B), Fund Participation Agreement (Separate Acct Va K of First Allmerica Financial Life Ins Co), Fund Participation Agreement (Merrill Lynch Life Variable Annuity Separate Account A)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each personof its directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act or who is under common control with ▇▇▇▇ ▇▇▇) of the Insurer Company (collectively, the “Indemnified Parties” "INDEMNIFIED PARTIES" for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor, which consent shall not be unreasonably withheld) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to abide by the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Participation Agreement (Variable Separate Account of Anchor National Life Insur Co), Participation Agreement (Variable Separate Account of Anchor National Life Insur Co), Participation Agreement (Fs Variable Separate Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Fund and its affiliates, agents, employeeseach Company and each of their trustees, directors and officers and each person, if any, who controls is an affiliated person of the Insurer Fund or that Company within the meaning of Section 15 of 2(a)(3) the 1933 1940 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)7.3) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer that Company and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company Fund or the designee of or either by or on behalf of the Insurer that Company for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer that Company or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement or representations representation (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company Fund or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer that Company or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerthat Company, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer that Company by or on behalf of the Investment Company; or
(D) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorFund; except to the extent provided in Sections 7(b)(ii7.3(b) and 7(b)(iii7.3(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Fund Participation Agreement (Separate Account a of Pacific Life Insurance Co), Fund Participation Agreement (Separate Account a of Pacific Life Insurance Co), Fund Participation Agreement (Separate Account B of Pacific Life Insurance Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act ▇▇▇▇ ▇▇▇) of the Trust, the Advisor or who is under common control with the Insurer Company (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 3 contracts
Sources: Participation Agreement (Separate Account Va Q), Participation Agreement (Huntington Va Funds), Participation Agreement (Separate Account Va S)
Indemnification by the Distributor. (i) The Distributor hereby agrees to to, and shall, indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Nationwide and each person, if any, person who controls the Insurer or is affiliated with Nationwide within the meaning of Section 15 of such terms under the 1933 Act or who is under common control with 1940 Act and any officer, director, employee or agent of the Insurer (collectivelyforegoing, the “Indemnified Parties” for purposes of this Section 7(b)) against any and all losses, claims, damagesdamages or liabilities, liabilities joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement with the written consent of the Distributor) or, any action, suit or litigation expenses (including legal and other expenses) proceeding or any claim asserted), to which the Indemnified Parties they are any of them may become subject under any statute statue or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities damages or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer andliabilities:
(Aa) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement Trust Registration Statement, any Prospectus for Series or Prospectus Classes or sales literature or other promotional material of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances in which they were made; provided that this obligation to indemnify shall not apply if such statement or omission was made in reliance upon and in conformity with information furnished in writing by Nationwide to the Trust or Distributor for use in the Trust Registration Statement, Trust Prospectus or sales literature or promotional material for the Trust (or any amendment or supplement to any of the foregoing) or otherwise for use in connection with the sale of the Contracts or Trust shares; or
(b) arise out of any untrue statement of a material fact contained in the Contracts Registration Statement, Contracts Prospectus or sales literature or other promotional material for the Contracts (or any amendment or supplement to any of the foregoing), or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made misleading in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf light of the Insurer for use circumstances in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company shares; or
(B) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company shares; or
(C) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleadingwhich they were made, if such statement or omission was made in reliance upon information furnished in writing by the Distributor to the Insurer by or on behalf of the Investment CompanyNationwide; or
(Dc) arise out of or are based upon wrongful conduct of the Distributor or the trust or persons under their respective control (or subject to their respective authorization) with respect to the sale of Trust shares; or
(d) arise as a result from of any failure by the Distributor or the Trust or persons under their respective control (or subject to their respective authorization) to provide services, furnish materials or make payments as required under this Agreement; or
(e) arise out of any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of the Trust or result from any other material breach persons under their respective control of this Agreement by (including any breach of Section 6.1 of this Agreement and any warranties continued in Article III hereof); it being understood that in no way shall the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision to Nationwide with respect to any lossesviolation of insurance law, claims, damages, liabilities compliance with which is a responsibility of Nationwide under this Agreement or litigation expenses otherwise or as to which an Indemnified Party would Nationwide failed to inform the Distributor in accordance with Section 4.4 hereof. This indemnification is in addition to any liability that the Distributor may otherwise have; provided, however, that no party shall be subject entitled to indemnification if such loss, claim or damage or liability is caused by reason of the willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to duty by the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigationseeking indemnification.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Participation Agreement (Nationwide Vli Separate Account 4), Participation Agreement (Nationwide Vli Separate Account 4)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)9.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related related, directly or indirectly, to the sale or acquisition of the Investment Company’s a Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or SAI or sales literature or other promotional material of a Fund prepared by the Investment Company Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided PROVIDED that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement statement, Prospectus or Prospectus SAI for the Investment Company a Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials required under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to or as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii9.3(b) and 7(b)(iii9.3(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (Lincoln Life Variable Annuity Account N), Fund Participation Agreement (Lincoln New York Account N for Variable Annuities)
Indemnification by the Distributor. (i) The Distributor on its own behalf and behalf of the Trust agrees to indemnify and hold harmless the Insurer Company and each of its affiliatesdirectors, agentsofficers, employees, directors employees and officers agents and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)Article V) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal and other expensescounsel fees incurred in connection therewith) (collectively, "Losses"), to which the Indemnified Parties may become subject under any statute or regulation, or at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer andLosses:
(Aa) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of any material fact contained in the registration statement or Prospectus or sales literature of prospectus for the Investment Company Trust (or any amendment or supplement to any thereto), (collectively, "Trust Documents" for the purposes of the foregoingthis Article V), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify indemnity shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with was accurately derived from written information furnished to the Trust or Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) Trust Documents or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesTrust Shares; or
(Bb) arise out of or as a result of any statement from statements or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofand accurately derived from Company Documents) or wrongful conduct of the Investment Company Trust or Distributorpersons under its control, or the affiliates, employees, or agents conduct of the Investment Company Distributor or the Distributor persons under its control, with respect to the sale or distribution acquisition of the Variable Contracts issued by the Insurer or Investment Company sharesTrust Shares; or
(Cc) arise out of or result from any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, Company Documents or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, misleading if such statement or omission was made in reliance upon and accurately derived from written information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust or the Distributor; or
(Dd) arise out of or result from any failure by the Trust or the Distributor to provide the services or furnish the materials required under the terms of this Agreement, including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification requirements as set forth in Article III of this Agreement; or
(e) arise out of or result from any material breach of any representation and/or warranty made by the Trust or the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer Trust or the Separate AccountsDistributor.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (Northstar Life Variable Universal Life Account), Fund Participation Agreement (Minnesota Life Variable Universal Life Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon and in conformity with information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.or
(iivi) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities arise out of or litigation expenses to which an Indemnified Party would otherwise be subject result from the materially incorrect or untimely calculation or reporting by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified PartiesFund, the Distributor will be entitled or the Adviser of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 8.4(b) and 8.4(c) hereof. This indemnification is in addition to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice and apart from the Distributor to such party responsibilities and obligations of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently specified in connection with the defense thereof other than reasonable costs of investigationArticle VI hereof.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (Coli Vul 2 Series Account), Fund Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Insurance Parties for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Insurance Party for inclusion therein by or on behalf of the Investment CompanyDistributor or Fund; or
(Div) arise as a result of any failure by the Fund or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund or Distributor; except to , as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii7.3(b) and 7(b)(iii) hereof7.3(c). This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Party named in the action. After notice from the Distributor to such party Party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Each Insurance Party agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (COLI VUL-2 Series Account of Great-West Life & Annuity Insurance Co of New York), Fund Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each person, if any, who controls the Insurer Company within the meaning of Section 15 such terms under the federal securities laws and any director, officer, employee or agent of the 1933 Act or who is under common control with the Insurer foregoing (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)7.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses actions in respect thereof (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale sale, acquisition, or acquisition holding of the Investment Company’s Trust shares or the Variable Contracts issued by or the Insurer operation of the Trust and:
(A1) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement statement, prospectus or Prospectus SAI for the Trust or sales literature or other promotional material of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make such statements not misleading in light of the statements therein not misleading, circumstances in which they were made; provided that this agreement to indemnify shall will not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company Trust or in sales literature of the Trust (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementsupplement thereto) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesTrust Shares; or
(B2) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the Contracts or in the Contract or Trust registration statementstatements, Prospectus prospectuses or statements of additional information or sales literature or other promotional material for the Variable Contracts Contracts, or any amendment or supplement to the foregoing, not supplied by the Distributor or any employees the Trust or agents thereofpersons under the control of the Distributor or the Trust respectively) or wrongful conduct of the Investment Company or Distributor, Distributor or the affiliates, employees, Trust or agents persons under the control of the Investment Company Distributor or the Distributor Trust respectively, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(C3) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI or sales literature or other promotional material covering the Variable Contracts issued by the Insurer, (or any amendment thereof or supplement thereto), or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the such statement or statements therein not misleadingmisleading in light of the circumstances in which they were made, if such statement or omission was made in reliance upon and in conformity with information furnished to the Insurer Company by or on behalf of the Investment CompanyDistributor or the Trust or persons under the control of the Distributor or the Trust; or
(D4) arise as a result of any failure by the Distributor or Trust to provide the services and furnish the materials under the terms of this Agreement; or
(5) arise out of or result from any material breach of any representation and/or warranty made by the Distributor or the Trust in this Agreement Agreement, or arise out of or result from any other material breach of this Agreement by the DistributorDistributor or the Trust (including a failure, whether intentional or in good faith or otherwise, to comply with the requirements of Subchapter M of the Code specified in Article III, Section 3.2 of this Agreement and the diversification requirements specified in Article III, Section 3.3 of this Agreement, as described more fully in Section 8.5 below); except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii) 7.4 hereof. This indemnification will be in addition to any liability that the Distributor otherwise may have.
(iib) The Distributor shall not No party will be liable entitled to indemnification under this indemnification provision with respect Section 7.2(a) if such loss, claim, damage, liability or action is due to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of the willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s such party's duties under this Agreement, or by reason of the Indemnified Party’s such party's reckless disregard of or its obligations or duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor Parties will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor and the Trust of the commencement of any litigation litigation, proceedings, complaints or proceedings actions by regulatory authorities against it or any of its officers or directors them in connection with the issuance issuance, holding or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsTrust.
Appears in 2 contracts
Sources: Participation Agreement (Symetra Mutual Funds Trust), Participation Agreement (Symetra Resource Variable Account B)
Indemnification by the Distributor. (i8.2(a) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act ▇▇▇▇ ▇▇▇) of the Trust, the Advisor or who is under common control with the Insurer Company (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyTrust’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust’s registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to abide by the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii8.2(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or and duties under this Agreement Agreement, or to the Insurer Company, the Trust or the Separate AccountsContracts, whichever is applicable.
(iii8.2(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election selection to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation. If the Distributor assumes the defense or representation of any Indemnified Party, the Distributor shall not consent or agree to any settlement without the prior approval of the Indemnified Party.
(iv8.2(d) The Insurer shall An Indemnified Party agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accountseach Account.
Appears in 2 contracts
Sources: Participation Agreement (Separate Account Va Bny), Participation Agreement (Separate Account Va B)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act or who is under common control with 1940 Act) of the Insurer (collectivelyTrust, the “Advisor or the Co▇▇▇▇▇ (▇ollectively, the "Indemnified Parties” " for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Participation Agreement (Huntington Va Funds), Participation Agreement (Huntington Funds)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale sale, issuance or acquisition of of, or investment in, the Investment Company’s Funds’ shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of a Fund prepared by the Investment Company Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company a Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations by or on behalf of Distributor (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofDistributor) or wrongful conduct of the Investment Company Distributor or Distributorpersons under their control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor or a Fund; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorDistributor (including, without limitation, any material breach, whether unintentional or in good faith or otherwise, of the representations, warranties, or covenants set forth in Section 2.10 of this Agreement); except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting by the Distributor of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel reasonably satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Indemnified Parties agree promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors them in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 2 contracts
Sources: Participation Agreement (Equitable America Variable Account No.70A), Participation Agreement (Equitable America Variable Account No.70A)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyTrust’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Trust prepared by the Trust, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Insurance Parties for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Trust or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorTrust, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer and Insurance Party by or on behalf of the Investment CompanyAdviser, the Distributor or Trust; or
(Div) arise as a result of any failure by the Trust, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Trust, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Trust, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.4(b) and 7(b)(iii) hereof7.4(c). This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject solely by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Party named in the action. After notice from the Distributor to such party Party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Each Insurance Party agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Trust Participation Agreement (COLI VUL-2 Series Account of Great-West Life & Annuity Insurance Co of New York), Trust Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer Company and Contract Distributor and each of its affiliatesdirectors, agentstrustees, employeesofficers, directors employees and officers agents and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act (or who is under common control with the Insurer either such entities) (collectively, the “Indemnified Parties” for purposes of this Section 7(b)13.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal and other expensescounsel fees incurred in connection therewith) (collectively, “Losses”), to which the Indemnified Parties may become subject under any statute or regulation, or at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer andLosses:
(Aa) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of prospectus for the Investment Company Trust (or any amendment or supplement to any thereto) (collectively, “Trust Documents” for purposes of the foregoingthis Article 13), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify indemnity shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with was accurately derived from written information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) Trust Documents or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bb) arise out of or as a result from of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofand accurately derived from Company Documents) or wrongful conduct of the Investment Company or Distributor, Distributor or the affiliatesTrust or persons under their control, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Cc) arise out of or result from any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement theretoCompany Documents, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon and accurately derived from written information furnished to the Insurer Company by or on behalf of the Investment CompanyDistributor or the Trust; or
(Dd) arise out of or result from any failure by the Distributor or the Trust to provide the services or furnish the materials required under the terms of this Agreement; or
(e) arise out of or result from any material breach of any representation and/or warranty made by the Distributor or the Trust in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to Distributor or the extent provided Trust (including a failure whether unintentional, or in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad good faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or otherwise, to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection comply with the defense thereof diversification and other than reasonable costs of investigationqualification requirements specified in this Agreement).
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Participation Agreement (Jefferson National Life of New York Annuity Account 1), Participation Agreement (Jefferson National Life Annuity Account G)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and each of its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” and individually, “Indemnified Party,” for purposes of this Section 7(b)7.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares Funds’ Shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of any material fact contained provided in the registration statement or Prospectus prospectus or statement of additional information or sales literature of the Investment Company Funds (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement, prospectus or statement or Prospectus of additional information for the Investment Company Funds or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesFund Shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, statement of additional information or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesFund Shares; or
(Ciii) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of a any material fact contained in a the registration statement, Prospectusprospectus, statement of additional information or sales literature covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof amendments or supplement supplements thereto, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust by the Distributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation representation, warranty and/or warranty agreement made by the Distributor in this Agreement or arise out Agreement, as limited by and in accordance with the provisions of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.3b) and 7(b)(iii7.3c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which incurred or assessed against an Indemnified Party would otherwise be subject by reason of as such may arise from such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or and duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will shall be entitled to participate, at is its own expense, in the defense thereofof such action. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the actionaction and to settle the claim at its own expense; provided, however, that no such settlement shall, without the Indemnified Party’s written consent, include any factual stipulation related to the Indemnified Party or its conduct. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation, but, in case the Distributor does not elect to assume the defense of any such suit, the Distributor will reimburse the Indemnified Party in such suit, for the reasonable fees and expenses of any counsel retained by it.
(ivd) The Insurer shall Company will promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 2 contracts
Sources: Fund Participation Agreement (Lincoln New York Account N for Variable Annuities), Fund Participation Agreement (Lincoln Life Variable Annuity Account N)
Indemnification by the Distributor. (ia) The Subject to Section 8.6 below, the Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)) Parties against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the DistributorDistributor which consent shall not be unreasonably withheld) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute statute, or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature prospectus of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature Trust (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesTrust Shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor Distributor, the Adviser or any employees or agents thereofpersons under their control) or wrongful conduct of the Investment Company or Distributor, the Adviser or the affiliatespersons under their control, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesTrust Shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, statement or sales literature prospectus covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, thereto or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, misleading if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Insurer Company for inclusion therein by or on behalf of the Investment CompanyTrust, the Adviser or the Distributor; or
(Div) arise as a result of a failure by the Trust, the Adviser or the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Trust or the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Trust or the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or and duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (Hancock John Variable Life Account U), Fund Participation Agreement (Hancock John Variable Life Account Uv/)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each personof its directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act or who is under common control with ▇▇▇▇ ▇▇▇) of the Insurer Company (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor, which consent shall not be unreasonably withheld) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyTrust’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust’s registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to abide by the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Participation Agreement (MTB Funds), Participation Agreement (MTB Funds)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares Portfolios or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or ▇▇▇ or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, the Distributor or the Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus ▇▇▇ for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by or the Insurer or Investment Company sharesPortfolios; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, ▇▇▇ or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, the Distributor or the affiliatesAdviser or persons under their control, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesPortfolios; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, ▇▇▇, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyAdviser, the Distributor or the Fund; or
(Div) arise as a result of any failure by the Fund, the Distributor or the Adviser to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, the Distributor or the Adviser in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorAdviser, the Distributor or the Fund (including, without limitation, any material breach, whether unintentional or in good faith or otherwise, of the representations, warranties, or covenants set forth in Section 2.11 of this Agreement); except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting by the Fund, the Distributor or the Adviser of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 2 contracts
Sources: Participation Agreement (Equitable America Variable Account No.70A), Participation Agreement (Equitable America Variable Account K)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and each of its affiliates, agents, employees, trustees/directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer Company (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale sale, acquisition, or acquisition redemption of the Investment CompanyTrust’s shares or share through the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus statement, prospectus, SAI or sales literature or other promotional material of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or statement, omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature other promotional material (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Trust or DistributorDistributor or persons under their control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust or the Distributor; or
(Div) arise out of or as a result of any failure by the Distributor to provide the services and furnish the materials, including the Trust Documents and Portfolio Data, it is required to provide and furnish under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the requirements specified in Section 2.4 of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii7.2(b) and 7(b)(iii7.2(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, fraud, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or and duties under this Agreement or to the Insurer Company or the Separate AccountsAccount, whichever is applicable.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified PartiesParty, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 2 contracts
Sources: Participation Agreement (Virtus Variable Insurance Trust), Participation Agreement (New York Life Ins & Annuity Corp Var Univ Life Sep Acc I)
Indemnification by the Distributor. (i7.2(a) The Distributor agrees to indemnify and hold harmless the Insurer Insurer, its affiliated principal underwriter of the Variable Contracts, and its affiliates, agents, employees, each of their directors and officers and each person, if any, who controls any affiliated person of the Insurer within the meaning of Section 15 2(a)(3) of the 1933 1940 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company Fund or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company Fund or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyFund; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii7.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Participation Agreement (Ml of New York Variable Annuity Separate Account A), Participation Agreement (Ml of New York Variable Annuity Separate Account A)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to or as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (Sti Classic Variable Trust), Fund Participation Agreement (Sti Classic Variable Trust)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and each of its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” and individually, “Indemnified Party,” for purposes of this Section 7(b)7.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares Funds’ Shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of any material fact contained provided in the registration statement or Prospectus prospectus or statement of additional information or sales literature of the Investment Company Funds (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement, prospectus or statement or Prospectus of additional information for the Investment Company Funds or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesFund Shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, statement of additional information or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesFund Shares; or
(Ciii) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of a any material fact contained in a the registration statement, Prospectusprospectus, statement of additional information or sales literature covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof amendments or supplement supplements thereto, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust by the Distributor; or
(Div) arise out of or result from any material breach of any representation representation, warranty and/or warranty agreement made by the Distributor in this Agreement or arise out Agreement, as limited by and in accordance with the provisions of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.3(b) and 7(b)(iii7.3(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which incurred or assessed against an Indemnified Party would otherwise be subject by reason of as such may arise from such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or and duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will shall be entitled to participate, at is its own expense, in the defense thereofof such action. The Distributor also shall be entitled to assume the defense thereof, with counsel reasonably satisfactory to the party named in the actionaction and to settle the claim at its own expense; provided, however, that no such settlement shall, without the Indemnified Party’s written consent, include any factual stipulation related to the Indemnified Party or its conduct. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation, but, in case the Distributor does not elect to assume the defense of any such suit, the Distributor will reimburse the Indemnified Party in such suit, for the reasonable fees and expenses of any counsel retained by it.
(ivd) The Insurer shall Company will promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 2 contracts
Sources: Fund Participation Agreement (SBL Variable Annuity Account Xiv), Fund Participation Agreement (Variable Annuity Account A)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and each of its affiliatesdirectors, agents, officers and employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " and individually, an "Indemnified Party," for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer of a Portfolio and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor Trust or the Investment Company or the designee of either Distributor by or on behalf of the Insurer Company for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Portfolio shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Trust or the Distributor or any employees persons under their respective control and other than statements or agents thereofrepresentations authorized by the Company) or wrongful unlawful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company Trust or the Distributor or persons under their respective control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Portfolio shares; or
(Ciii) arise out of or as a result of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust or the Distributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to . Each of paragraphs (i) through (v) above is limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereofbelow.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Participation Agreement (Morgan Stanley Variable Investment Series), Participation Agreement (Morgan Stanley Variable Investment Series)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and each of its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” and individually, “Indemnified Party,” for purposes of this Section 7(b)7.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares Funds’ Shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of any material fact contained provided in the registration statement or Prospectus prospectus or statement of additional information or sales literature of the Investment Company Funds (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement, prospectus or statement or Prospectus of additional information for the Investment Company Funds or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesFund Shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, statement of additional information or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesFund Shares; or
(Ciii) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of a any material fact contained in a the registration statement, Prospectusprospectus, statement of additional information or sales literature covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof amendments or supplement supplements thereto, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust by the Distributor; or
(Div) arise out of or result from any material breach of any representation representation, warranty and/or warranty agreement made by the Distributor in this Agreement or arise out Agreement, as limited by and in accordance with the provisions of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.3b) and 7(b)(iii7.3c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which incurred or assessed against an Indemnified Party would otherwise be subject by reason of as such may arise from such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or and duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will shall be entitled to participate, at is its own expense, in the defense thereofof such action. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the actionaction and to settle the claim at its own expense; provided, however, that no such settlement shall, without the Indemnified Party’s written consent, include any factual stipulation related to the Indemnified Party or its conduct. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation, but, in case the Distributor does not elect to assume the defense of any such suit, the Distributor will reimburse the Indemnified Party in such suit, for the reasonable fees and expenses of any counsel retained by it.
(ivd) The Insurer shall Company will promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 2 contracts
Sources: Fund Participation Agreement (Symetra Resource Variable Account B), Fund Participation Agreement (Jefferson National Life Annuity Account G)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.3) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAi or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer for use in the registration statement or Prospectus SAi or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAi, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(C) or arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAi, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer by or on behalf of the Investment Company; or
(D) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified PartiesAdviser, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.Fund; or
Appears in 2 contracts
Sources: Fund Participation Agreement (Variable Annuity I Ser Acc of GRT West Li & Annu Ins Co of Ny), Fund Participation Agreement (Variable Annuity I Ser Acc of GRT West Li & Annu Ins Co of Ny)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.3) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.3(b) and 7(b)(iii8.3(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (COLI VUL-2 Series Account of Great-West Life & Annuity Insurance Co of New York), Fund Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Preferred and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Preferred within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if -------- such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Preferred for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Preferred by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (Preferred Life Variable Account C), Fund Participation Agreement (Preferred Life Variable Account C)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.3) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Insurance Parties for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer and Insurance Party by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.3(b) and 7(b)(iii) hereof7.3(c). This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Party named in the action. After notice from the Distributor to such party Party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Each Insurance Party agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (COLI VUL-2 Series Account of Great-West Life & Annuity Insurance Co of New York), Fund Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Insurance Parties for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Insurance Party for inclusion therein by or on behalf of the Investment CompanyDistributor or Fund; or
(Div) arise as a result of any failure by the Fund or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund or Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii7.3(b) and 7(b)(iii) hereof7.3(c). This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Party named in the action. After notice from the Distributor to such party Party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Each Insurance Party agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (Variable Annuity-2 Series Account), Fund Participation Agreement (Variable Annuity-2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer PLAIC and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer PLAIC within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer PLAIC for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer PLAIC by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.4(b) and 7(b)(iii) hereof7.4(c). This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Party named in the action. After notice from the Distributor to such party Party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall PLAIC agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 2 contracts
Sources: Fund Participation Agreement (PLAIC Variable Annuity Account S), Fund Participation Agreement (PLAIC Variable Annuity Account S)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer ALIAC and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer ALIAC within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:;
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer ALIAC for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer ALIAC by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall ALIAC agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 2 contracts
Sources: Fund Participation Agreement (Prudential Series Fund Inc), Fund Participation Agreement (Variable Annuity Account B of Aetna Life Ins & Annuity Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, or the Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by or the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor or the Fund; or
(Div) arise as a result of any failure by the Fund or the Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund or the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorDistributor or the Fund (including, without limitation, any material breach, whether unintentional or in good faith or otherwise, of the representations, warranties, or covenants set forth in Section 2.11 of this Agreement); except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting by the Fund or the Distributor of a Portfolio's daily NAV per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate. as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation. The Distributor shall not be liable under this indemnification provision with respect to any claim, action, suit, or preceding settled by an Indemnified Party without the Distributor's written approval.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Fund Participation Agreement (Separate Acct No 49 of Axa Equitable Life Insurance Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)7.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.4(b) and 7(b)(iii7.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Agreement (Futurefunds Series Account of Great West Life & Ann Ins Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each personof its directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act or who is under common control with 1940 Act) of the Insurer Company (collectively, the “Indemnified Parties” "▇▇▇▇▇▇▇▇IED PARTIES" for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor, which consent shall not be unreasonably withheld) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to abide by the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each person, if any, person who controls or is associated with the Insurer Company within the meaning of Section 15 such terms under the federal securities laws and any officer, director, employee or agent of the 1933 Act or who is under common control with the Insurer (collectivelyforegoing, the “Indemnified Parties” for purposes of this Section 7(b)) against any and all losses, claims, damagesdamages or liabilities, liabilities joint or several (including any investigative, legal and other expenses reasonably incurred in connection with, and any amounts paid in settlement with the written consent of the Distributor) of, any action, suit or litigation expenses (including legal and other expenses) proceeding or any claim asserted), to which the Indemnified Parties they or any of them may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities damages or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer and:liabilities: <PAGE>
(Aa) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Fund Registration Statement, Fund Prospectus or sales literature of the Investment Company (or any amendment or supplement to any thereto) or sales literature or other promotional material of the foregoing)Fund, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, misleading in light of the circumstances in which they were made; provided that this agreement obligation to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or alleged omission was made in reliance upon and in conformity with information furnished in writing by the Company to the Distributor Fund or the Investment Company or the designee of either by or on behalf of the Insurer Distributor for use in the registration statement or Fund Registration Statement, Fund Prospectus for the Investment Company or in sales literature (or any amendment or supplementsupplement thereto) or otherwise for use in the registration statement or Prospectus sales literature for the Investment Company or in sales literature (or any amendment or supplement) Fund or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bb) arise out of or as a result of are based upon any untrue statement or representations alleged untrue statement of a material fact made by the Distributor or the Fund (other than statements or representations contained in the registration statementFund Registration Statement, Fund Prospectus or sales literature for or other promotional material of the Variable Contracts Fund not supplied by the Distributor or any employees the Fund or agents thereofpersons under their control) or wrongful conduct of the Investment Company Distributor or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor persons under its control with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Cc) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statementthe Contract's Registration Statement, Prospectus, Contracts Prospectus or sales literature covering or other promotional material for the Variable Contracts issued by the Insurer, (or any amendment thereof or supplement thereto), or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleadingmisleading in fight of the circumstances in which they were made, if such statement or omission was made in reliance upon information furnished in writing by the Distributor or the Fund to the Insurer by Company (or a person authorized in writing to do so on behalf of the Investment CompanyFund or the Distributor); or
(Dd) arise as a result of any failure by the Fund to provide the services and furnish the materials under the terms of this Agreement (including, but not by way of limitation, a failure, whether unintentional or in good faith or otherwise: (i) to comply with the diversification requirements specified in Article VI of this Agreement; and (ii) to provide the Company with accurate information sufficient for it to calculate its accumulation and/or annuity unit values in timely fashion as required by law and by the Contracts Prospectuses); or
(e) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach the Fund of this Agreement by Agreement. This indemnification will be in addition to any liability which the DistributorDistributor may otherwise have; except provided, however, that no party shall be entitled to indemnification if such loss, claim, damage or liability is due to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to duty by the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigationseeking indemnification.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Participation Agreement (Lincoln Life Flexible Premium Variable Life Account M)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and each of its affiliatesdirectors, agents, officers and employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " and individually, an "Indemnified Party," for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer of a Portfolio and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor Trust or the Investment Company or the designee of either Distributor by or on behalf of the Insurer Company for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Portfolio shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Trust or the Distributor or any employees persons under their respective control and other than statements or agents thereofrepresentations authorized by the Company) or wrongful unlawful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company Trust or the Distributor or persons under their respective control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Portfolio shares; or
(Ciii) arise out of or as a result of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust or the Distributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to . Each of paragraphs (i) through (v) above is limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereofbelow.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which incurred or assessed against an Indemnified Party would otherwise be subject by reason of as such may arise from such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or and duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Participation Agreement (Metlife of Ct Separate Account Eleven for Variable Annuities)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)9.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s a Fund's shares or the Variable Contracts issued by the Insurer and:;
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or SAI or sales literature or other promotional material of a Fund prepared by the Investment Company Distributor (or any amendment or 35 supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided PROVIDED that this agreement Agreement to indemnify shall not apply as to any Indemnified indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement statement, Prospectus or Prospectus SAI for the Investment Company a Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials required under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to or as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii9.3(b) and 7(b)(iii9.3(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s 's duties or by 36 reason of the such Indemnified Party’s 's reckless disregard of its obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which that it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Fund Participation Agreement (Hartford Life Insurance Co Separate Account Two)
Indemnification by the Distributor. (i8.4(a) The Distributor agrees to indemnify and hold harmless the Insurer GIAC and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GIAC within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GIAC for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, sales literature- or sales literature other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GIAC by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(ii8.4(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iii8.4(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv8.4(d) The Insurer shall GIAC agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Fund Participation Agreement (Guardian Separate Account E)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer PLAIC and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer PLAIC within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.3) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer PLAIC for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer PLAIC by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.3(b) and 7(b)(iii) hereof7.3(c). This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Party named in the action. After notice from the Distributor to such party Party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall PLAIC agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Protective NY COLI VUL)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, or the Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by or the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor or the Fund; or
(Div) arise as a result of any failure by the Fund or the Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund or the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorDistributor or the Fund (including, without limitation, any material breach, whether unintentional or in good faith or otherwise, of the representations, warranties, or covenants set forth in Section 2.11 of this Agreement); except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting by the Fund or the Distributor of a Portfolio’s daily NAV per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate. as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation. The Distributor shall not be liable under this indemnification provision with respect to any claim, action, suit, or preceding settled by an Indemnified Party without the Distributor’s written approval.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Fund Participation Agreement (Separate Account No. 70 of AXA Equitable Life Insurance Co)
Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer Company and each of its affiliatesdirectors, agentsofficers, employees, directors and officers agents and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for the purposes of this Section 7(b)5.2) against any and all losses, costs, expenses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor, which consent shall not be unreasonably withheld) or litigation expenses (including the reasonable costs of investigating or defending any alleged loss, costs, claim, damage, liability or expense and reasonable legal and other expensescounsel fees incurred in connection therewith) (collectively, "Losses"), to which the Indemnified Parties may become subject under any statute or regulation, or at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses Losses are related to the sale or acquisition of the Investment Company’s Contracts or Trust shares or the Variable Contracts issued by the Insurer and:
(Aa) arise raise out of or are based upon any untrue statement statements or alleged untrue statement statements of any material fact contained in the registration statement or Prospectus or sales literature of prospectus for the Investment Company Trust (or any amendment or supplement to any thereto) (collectively, "Trust Documents" for the purposes of the foregoingthis Article V), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify indemnity shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with was accurately derived from written information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) Trust Documents or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesTrust shares and; or
(Bb) arise out of or as a result of any statement from statements or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofand derived in conformity with Company Documents) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution acquisition of the Variable Contracts issued by the Insurer or Investment Company Portfolio shares; or
(Cc) arise out of or result from any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, Company Documents or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, misleading if such statement or omission was made in reliance upon and accurately derived from written information furnished to the Insurer Company by or on behalf of the Investment CompanyTrust or the Distributor; or
(Dd) arise out of or result from any failure by the Distributor or the Trust to provide the services or furnish the materials required under the terms of this Agreement, including, without limitation, any failure by the Trust to inform the Company of the correct net asset value per share for each Portfolio on a timely basis sufficient to permit the timely execution of all purchase and redemption orders at the correct net asset value per share; or
(e) arise out of or result from any material breach of any representation and/or warranty made by the Distributor or the Trust in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsTrust.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Participation Agreement (Sun Life of Canada U S Variable Account I)
Indemnification by the Distributor. (i8.2(a) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act 1▇▇▇ ▇▇▇) of the Trust, the Advisor or who is under common control with the Insurer Company (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii8.2(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or and duties under this Agreement Agreement, or to the Insurer Company, the Trust or the Separate AccountsContracts, whichever is applicable.
(iii8.2(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election selection to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation. If the Distributor assumes the defense or representation of any Indemnified Party, the Distributor shall not consent or agree to any settlement without the prior approval of the Indemnified Party.
(iv8.2(d) The Insurer shall An Indemnified Party agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accountseach Account.
Appears in 1 contract
Sources: Participation Agreement (Sun Life of Canada U S Variable Account F)
Indemnification by the Distributor. (i8.4(a) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claimsclaims , damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale Sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales SAI or Sales literature or other promotional material of the Investment Company Fund prepared by the Transfer Agent, Ad viser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor Transfer Agent, Adviser, or the Investment Company or the designee of either Distributor by or on behalf of the Insurer an Insurance Party for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales Sales literature or other promotional material (or any amendment or supplementsupplement to any of the foregoing) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in ill connection with the sale Sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus , SAI, Sales literature or sales literature other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorTransfer Agent, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale Sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, Sales literature or sales literature other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer an Insurance Party by or on behalf of the Investment CompanyTransfer Agent, Adviser or the Distributor; or
(Div) arise as a result of any failure by the Transfer Agent, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the qualification requirements specified in Article VII of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Agent, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Transfer Agent, Adviser or Distributor; except to or as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii8.4(b) The Distributor shall not be liable under this indemnification provision with respect to any losseslosses , claimsclaims , damagesexpense s, damages , liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Futurefunds Series Account of Great West Life & Ann Ins Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurer, its affiliated principal underwriter of the Variable Contracts, and its affiliates, agents, employees, each of their directors and officers and each person, if any, who controls any affiliated person of the Insurer within the meaning of Section 15 2(a)(3) of the 1933 1940 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company Fund or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company Fund or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyFund; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii7.2(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Participation Agreement (Merrill Lynch Life Variable Annuity Separate Account A)
Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer Company and the Underwriter and each of its affiliatesdirectors, agentsofficers, employees, directors and officers agents and each person, if any, who controls the Insurer Company or the Underwriter within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for the purposes of this Section 7(b)5.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor, which consent shall not be unreasonably withheld) or litigation expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal and other expensescounsel fees incurred in connection therewith) (collectively, "Losses"), to which the Indemnified Parties may become subject under any statute or regulation, or at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses Losses are related to the sale or acquisition of the Investment Company’s Contracts or Trust shares or the Variable Contracts issued by the Insurer and:
(Aa) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of any material fact contained in the registration statement or Prospectus or sales literature of prospectus for the Investment Company Trust (or any amendment or supplement to any thereto) (collectively, "Trust Documents" for the purposes of the foregoingthis Article V), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify indemnity shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with was accurately derived from written information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company or Underwriter for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) Trust Documents or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bb) arise out of or as a result of any statement from statements or representations (other than statements or representations contained in the registration statement, Prospectus and accurately derived from Company or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofUnderwriter Documents) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution acquisition of the Variable Contracts issued by the Insurer or Investment Company Portfolio shares; or
(Cc) arise out of or result from any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, Company or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, Underwriter Documents or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, misleading if such statement or omission was made in reliance upon and accurately derived from written information furnished to the Insurer Company or Underwriter by or on behalf of the Investment CompanyTrust; or
(Dd) arise out of or result from any failure by the Distributor or the Trust to provide the services or furnish the materials required under the terms of this Agreement; or
(e) arise out of or result from any material breach of any representation and/or warranty made by the Distributor or the Trust in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsTrust.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Indemnification by the Distributor. (i8.4(a) The Distributor agrees to indemnify and hold harmless the Insurer GALIC and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GALIC within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to -------- indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GALIC for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GALIC by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(ii8.4(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Prudential Series Fund Inc)
Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Company Indemnified Parties” for purposes of this Section 7(b)) Parties against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Company Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement Registration Statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Company Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Company for use in the registration statement Registration Statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofand accurately derived from Company Documents) or wrongful conduct of the Investment Company Fund, Adviser or DistributorDistributor or persons under their control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement theretoCompany Documents, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon and accurately derived from written information furnished to the Insurer Company by or on behalf of the Investment CompanyDistributor; or
(Div) arise out of or result from any failure by the Distributor to provide the services or furnish the materials required under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Peoples Benefit Life Insurance Co Separate Account V)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurer, its affiliated principal underwriter of the Variable Contracts, and its affiliates, agents, employees, each of their directors and officers and each person, if any, who controls any affiliated person of the Insurer within the meaning of Section 15 2(a)(3) of the 1933 1940 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.2) against any and all losses, claims, damages, liabilities (including amounts paid paid. in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company Fund or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company Fund or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyFund; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii7.2(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Kansas City Life Variable Life Separate Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each personof its directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act or who is under common control with 1940 Act) of the Insurer Company (collectively, the “Indemnified Parties” "INDEMNIFIED PARTIES" for purposes ▇▇▇▇▇▇▇s of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor, which consent shall not be unreasonably withheld) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to abide by the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Participation Agreement (Fs Variable Separate Account)
Indemnification by the Distributor. (i8.4(a) The Distributor agrees to indemnify and hold harmless the Insurer PLIC and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer PLIC within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to -------- indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer PLIC for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer PLIC by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(ii8.4(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iii8.4(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv8.4(d) The Insurer shall PLIC agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Fund Participation Agreement (Prudential Series Fund Inc)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer PLICO and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer PLICO within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer PLICO for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer PLICO by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.4(b) and 7(b)(iii) hereof7.4(c). This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Party named in the action. After notice from the Distributor to such party Party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall PLICO agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (PLICO Variable Annuity Account S)
Indemnification by the Distributor. 4. Indemnification by the Distributor
(ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund (or any amendment or supplement to any of the foregoing)) prepared or approved by the Distributor, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any failure by the Distributor to perform the obligations, provide the services and furnish the materials required of it under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the requirements applicable to the Distributor specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees agrees, with respect to each Portfolio that it distributes, to indemnify and hold harmless the Insurer Company and each of its affiliatesdirectors, agentsofficers, employees, directors and officers employees or agents and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Company Indemnified Parties” for purposes of this Section 7(b)6.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Company Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale (or acquisition of the Investment Company’s shares actions in respect thereof) or the Variable Contracts issued by the Insurer andsettlements:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact as determined by a court of competent jurisdiction contained in the registration statement, prospectus or statement or Prospectus of additional information for the Fund or sales literature or other promotional material of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, ; provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished by such Company Indemnified Party or the Company to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement, prospectus or statement or Prospectus of additional information for the Investment Company Fund or in sales literature of the Fund (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementsupplement thereto) or otherwise for use in connection with the sale of the Variable Contracts issued by or the Insurer or Investment Company Portfolio shares; or
(Bii) arise out of or as a result of any statement or representations (other than a) statements or representations by or on behalf of Fund or Distributor contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Fund or the Distributor; or (b) the willful misfeasance, bad faith, gross negligence or reckless disregard of duty of the Distributor or any employees or agents thereof) or wrongful conduct persons under the control of the Investment Company or Distributor, or the affiliates, employees, or agents ;
(iii) arise as a result of the Investment Company or any material failure by the Distributor with respect to provide the sale or distribution services and furnish the materials under the terms of the Variable Contracts issued by the Insurer or Investment Company sharesthis Agreement; or
(C) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment Company; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii6.2(b) and 7(b)(iii) 6.4 hereof.
(iib) The Distributor No party shall not be liable under this entitled to indemnification provision with respect to any lossesthe extent that such loss, claimsclaim, damagesdamage, liabilities liability or litigation expenses is due to which an Indemnified Party would otherwise be subject by reason of the willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to duty by the Insurer or the Separate Accountsparty seeking indemnification.
(iiic) The Distributor shall not be liable under this indemnification provision In accordance with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified PartiesSection 6.4 hereof, the Distributor Company Indemnified Parties will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors them in connection with the issuance or sale of the Variable Fund shares or the Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Intermediary Agreement (Talcott Resolution Life Insurance Co Separate Account 11)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement supple ment thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares Funds or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Trust prepared by the Trust or the Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company Trust or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by or the Insurer or Investment Company sharesFunds; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company Trust or the Distributor or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesFunds; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor or the Trust; or
(Div) arise as a result of any failure by the Trust or the Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Trust or the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorDistributor or the Trust (including, without limitation, any material breach, whether unintentional or in good faith or otherwise, of the representations, warranties, or covenants set forth in Section 2.11 of this Agreement); except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting by the Trust or the Distributor of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Participation Agreement (Separate Account No. 70 of AXA Equitable Life Insurance Co)
Indemnification by the Distributor. (i) A. The Distributor agrees to indemnify and hold harmless the Insurer Company and each of its affiliatesdirectors, agentsofficers, employees, directors employees and officers agents and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Company Indemnified Parties” for purposes of this Section 7(b)" and individually, a "Company Indemnified Party") against any and all losses, claims, damages, liabilities liabilities, investigations or litigation (including amounts paid in settlement with the written consent of the Distributor, which consent shall not be unreasonably withheld) or litigation expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal and other expenses) counsel fees incurred in connection therewith)(collectively, "Losses"), to which the Company Indemnified Parties may become subject under any statute or regulation, or at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses Losses are related to the sale or acquisition of the Investment Company’s shares of the Fund or the Variable Contracts issued by the Insurer and:
(A) arise 1. Arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement, prospectus, statement or Prospectus of additional information or sales literature of the Investment Company Trust applicable to the Fund (or any amendment or supplement to any of the foregoing)) (collectively, "Trust Documents") or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party (i) if such statement or omission or such alleged statement or of omission was made in reliance upon and accurately derived from written information furnished by the Distributor or (ii) if such Trust Document was prepared by the Distributor, provided in conformity with either of the foregoing cases, that this indemnity shall not apply as to any Company Indemnified Party to the extent that any Loss arises out of or is based upon any untrue statement or omission or alleged untrue statement or omission that was made in reliance upon and was accurately derived from written information furnished to the Distributor Trust or the Investment Company or the designee of either Distributor by or on behalf of the Insurer Company for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) Trust Documents or otherwise for use in connection with the sale of the Variable Contracts issued by or shares of the Insurer or Investment Company sharesFund; or
(B) arise 2. Arise out of or as a result of any statement from wrongful or inaccurate statements or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofand accurately derived from Company Documents) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by or shares of the Insurer or Investment Company sharesFund; or
(C) arise 3. Arise out of or result from any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature covering the Variable Contracts issued information furnished by the Insurer, or any amendment thereof or supplement theretoDistributor for use in Company Documents, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, misleading if such statement or omission was made in reliance upon and accurately derived from written information (including information about the Trust or the Fund) furnished to Company by the Insurer Distributor on its own behalf or by or another party on behalf of the Investment CompanyDistributor; or
(D) arise 4. Arise out of or result from any failure by the Distributor to provide the services or furnish the materials required under the terms of this Agreement; or
5. Arise out of or result from any material breach by the Distributor of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided as limited by, and in accordance with, Sections 7(b)(ii) 7.2.B and 7(b)(iii) 7.2.C hereof.
(ii) B. The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses Losses which are due to which an Company Indemnified Party would otherwise be subject by reason of Party's willful misfeasance, bad faith, or gross negligence in the performance of the such Company Indemnified Party’s 's duties or by reason of the such Company Indemnified Party’s 's reckless disregard of obligations or and duties under this Agreement or to the Insurer Company or the Separate AccountsAccount, whichever is applicable.
(iii) C. The Distributor shall not be liable under this indemnification provision with respect to any claim made against an a Company Indemnified Party unless such Company Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Company Indemnified Party (or after such Company Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Company Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Company Indemnified Parties, the Distributor will shall be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Company Indemnified Party named in the action. After notice from the Distributor to such party Company Indemnified Party of the Distributor’s its election to assume the defense thereof, as long as the Distributor is performing its obligations under this Article, the Company Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) D. The Insurer Company Indemnified Parties shall promptly notify the Distributor of the commencement of any litigation or proceedings against it them or any of its their officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the a Separate AccountsAccount.
Appears in 1 contract
Sources: Participation Agreement (Corporate Sponsored Vul Separate Account I)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided PROVIDED that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Occ Accumulation Trust)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurer, its affiliated principal underwriter of the Variable Contracts, and its affiliates, agents, employees, each of their directors and officers and each person, if any, who controls any affiliated person of the Insurer within the meaning of Section 15 2(a)(3) of the 1933 1940 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company Fund or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company Fund or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyFund; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii7.2(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s 's duties or by reason of the Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (American National Variable Annuity Separate Account)
Indemnification by the Distributor. (i8.2(a) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act 1940 Act) of the Trust, the Adviser or who is under common control with the Insurer ▇▇▇▇▇▇▇, (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)Article 8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) Losses to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses Losses are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the a registration statement or Prospectus prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), ) or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement from statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for of the Variable Contracts Trust (or any amendments or supplements to the foregoing) not supplied by the Distributor Company, or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorCompany, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the offer, sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged illegal untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in Sections 7(b)(iiprovisions of Articles 8.2(b) and 7(b)(iii8.2.(c) hereof.
(ii8.2(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses Losses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or and duties under this Agreement Agreement, or to the Insurer Company, the Trust, the Distributor, the Advisor or the Separate AccountsContracts, whichever is applicable.
(iii8.2(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will shall be entitled to participate, at is its own expense, in the defense thereofof such action. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s 's election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify . If the company assumes the defense or representation of an Indemnified Party, the Distributor shall not consent or agree to any settlement without the prior approval of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsIndemnified Party.
Appears in 1 contract
Indemnification by the Distributor. (i8.2(a) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act ▇▇▇▇ ▇▇▇) of the Trust, the Advisor or who is under common control with the Insurer Company (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyTrust’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust’s registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to abide by the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii8.2(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or and duties under this Agreement Agreement, or to the Insurer Company, the Trust or the Separate AccountsContracts, whichever is applicable.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Participation Agreement (MTB Funds)
Indemnification by the Distributor. (i8.4(a) The Distributor agrees to indemnify and hold harmless the Insurer ELIC and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer ELIC within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not -------- apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer ELIC for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer ELIC by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(ii8.4(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Prudential Series Fund Inc)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the DistributorAdviser) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares Portfolios or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund or the Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by or the Insurer or Investment Company sharesPortfolios; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor Adviser or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesPortfolios; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor or the Fund; or
(Div) arise as a result of any failure by the Fund, the Distributor or the Adviser to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund or the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorAdviser, the Distributor or the Fund (including, without limitation, any material breach, whether unintentional or in good faith or otherwise, of the representations, warranties, or covenants set forth in Section 2.11 of this Agreement); except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting by the Fund or the Distributor of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor Adviser from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Adviser has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Participation Agreement (Separate Account No. 70 of AXA Equitable Life Insurance Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale SALE or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales SAI or SALES literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer an Insurance Party for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales SALES literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale SALE of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI, SALES literature or sales literature other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale SALE or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, SALES literature or sales literature other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer an Insurance Party by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the qualification requirements specified in Article VII of this Agreement) ; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VII hereof.
(ii) , 8.4(b). The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Futurefunds Series Account of Great West Life & Ann Ins Co)
Indemnification by the Distributor. the Fund and each Portfolio
(ia) The Distributor agrees Distributor, the Fund and each Portfolio, in each case solely to the extent relating to such party’s responsibilities hereunder, agree to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each person, if any, who controls or is associated with the Insurer Company within the meaning of Section 15 such terms under the federal securities laws and any director, trustee, officer, partner, employee or agent of the 1933 Act or who is under common control with the Insurer foregoing (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor, the Fund or a Portfolio, as applicable) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale (or acquisition of the Investment Company’s shares actions in respect thereof) or the Variable Contracts issued by the Insurer andsettlements:
(A1) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement statement, prospectus or Prospectus SAI for the Fund or sales literature or other promotional material of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make such statements not misleading in light of the statements therein not misleading, circumstances in which they were made; provided that this agreement to indemnify shall will not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor Distributor, the Fund or the Investment Company or the designee of either a Portfolio by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company Fund or in sales literature of the Fund (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementsupplement thereto) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesShares; or
(B2) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the Contracts or the Fund or Contract registration statementstatements, Prospectus Fund or Contract prospectuses, SAIs or sales literature or other promotional materials for the Variable Contracts or Fund not supplied by the Distributor Distributor, the Fund or any employees or agents thereofpersons under its’ control) or wrongful conduct of the Investment Company or Distributor, the Fund or a Portfolio or persons under the affiliates, employees, or agents control of the Investment Company Distributor, the Fund or the Distributor a Portfolio respectively, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesShares; or
(C3) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI or sales literature or other promotional material covering the Variable Contracts issued by the Insurer, (or any amendment thereof or supplement thereto), or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the such statement or statements therein not misleadingmisleading in light of the circumstances in which they were made, if such statement or omission was made in reliance upon and in conformity with written information furnished to the Insurer Company by the Distributor, the Fund or on behalf a Portfolio or persons under the control of the Investment CompanyDistributor, the Fund or a Portfolio; or
(D4) arise as a result of any failure by the Fund, the Distributor or a Portfolio to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the Diversification Requirements and procedures related thereto specified in Article VI of this Agreement); or
(5) arise out of or result from any material breach of any representation and/or warranty made by the Distributor Distributor, the Fund or a Portfolio in this Agreement Agreement, or arise out of or result from any other material breach of this Agreement by the Distributor, the Fund or a Portfolio; except to the extent provided in Sections 7(b)(ii8.2(b) and 7(b)(iii) 8.3 hereof. This indemnification will be in addition to any liability that the Distributor, the Fund or the Portfolio otherwise may have.
(iib) The Distributor shall not No party will be liable entitled to indemnification under this indemnification provision with respect Section 8.2(a) to any lossesthe extent such loss, claimsclaim, damagesdamage, liabilities liability or litigation expenses is due to which an Indemnified Party would otherwise be subject by reason of the willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Partysuch party’s duties under this Agreement, or by reason of the Indemnified Partysuch party’s reckless disregard of its obligations or duties under this Agreement or to by the Insurer or the Separate Accountsparty seeking indemnification.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor Parties will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor Distributor, the Fund or a Portfolio of the commencement of any litigation litigation, proceedings, complaints or proceedings actions by regulatory authorities against it or any of its officers or directors them in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accountsaccount.
Appears in 1 contract
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act or who is under common control with 1940 Act) of the Insurer (collectivelyTrust, the “Advisor or the Com▇▇▇▇ (▇▇llectively, the "Indemnified Parties” " for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losseslosses , claims, claims damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale Sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales SAI or Sales literature or other promotional material of the Investment Company Fund prepared by the Fund. Adviser or Distributor (or any amendment or supplement to any of the foregoing), . or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer G\\-'L&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales Sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale Sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus. SAI Sales literature or sales literature other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or Fund the Distributor or Adviser or persons under their control, with respect to the sale Sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; : or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement.statement, Prospectusprospectus, SAI Sales literature or sales literature other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon and in conformity with information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided materially incorrect or untimely calculation or reporting by the Fund the Distributor or the Adviser of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Futurefunds Series Account of Great West Life & Ann Ins Co)
Indemnification by the Distributor. (ia) The Distributor agrees agrees, with respect to each Portfolio that it serves as principal underwriter, to indemnify and hold harmless the Insurer Company and each of its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” and individually, “Indemnified Party,” for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition operation of the Investment Company’s shares Distributor or the Variable Contracts issued by the Insurer Fund and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Company for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Portfolio shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees persons under its control and other than statements or agents thereofrepresentations authorized by the Company) or wrongful unlawful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Portfolio shares; or
(Ciii) arise out of or as a result of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund or the Distributor; except including without limitation any failure by the Fund to comply with the extent provided in Sections 7(b)(ii) and 7(b)(iii) conditions of Article VI hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Participation Agreement (First Symetra National Life Insurance Co of Ny Sep Acct S)
Indemnification by the Distributor. (i8.4(a) The Distributor agrees to indemnify and hold harmless the Insurer ELIC and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer ELIC within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided PROVIDED that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer ELIC for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer ELIC by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(ii8.4(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Equitable Life Insurance Co of Iowa Separate Account A)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from a breach of this Agreement pertaining to the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Ohio National and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Ohio National within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Ohio National for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Ohio National by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Prudential Series Fund Inc)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act 1940 Act) of the Trust, the Advisor or who is under common control with the Insurer ▇▇▇▇▇▇y (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to abide by the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each person, if any, who controls the Insurer Company within the meaning of Section 15 such terms under the federal securities laws and any director, officer, employee or agent of the 1933 Act or who is under common control with the Insurer foregoing (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses actions in respect thereof (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale sale, acquisition, or acquisition holding of the Investment Company’s Trust shares or the Variable Contracts issued by or the Insurer operation of the Trust and:
(A1) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement statement, prospectus or Prospectus SAI for the Trust or sales literature or other promotional material of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make such statements not misleading in light of the statements therein not misleading, circumstances in which they were made; provided that this agreement to indemnify shall will not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Company for use in the registration statement statement, prospectus or Prospectus SAI for the Investment Company Trust or in sales literature of the Trust (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementsupplement thereto) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company sharesTrust Shares; or
(B2) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the Contracts or in the Contract or Trust registration statementstatements, Prospectus prospectuses or statements of additional information or sales literature or other promotional material for the Variable Contracts Contracts, or any amendment or supplement to the foregoing, not supplied by the Distributor or any employees the Trust or agents thereofpersons under the control of the Distributor or the Trust respectively) or wrongful conduct of the Investment Company or Distributor, Distributor or the affiliates, employees, Trust or agents persons under the control of the Investment Company Distributor or the Distributor Trust respectively, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(C3) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI or sales literature or other promotional material covering the Variable Contracts issued by the Insurer, (or any amendment thereof or supplement thereto), or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the such statement or statements therein not misleadingmisleading in light of the circumstances in which they were made, if such statement or omission was made in reliance upon and in conformity with information furnished to the Insurer Company by or on behalf of the Investment CompanyDistributor or the Trust or persons under the control of the Distributor or the Trust; or
(D4) arise as a result of any failure by the Distributor or Trust to provide the services and furnish the materials under the terms of this Agreement; or
(5) arise out of or result from any material breach of any representation and/or warranty made by the Distributor or the Trust in this Agreement Agreement, or arise out of or result from any other material breach of this Agreement by the DistributorDistributor or the Trust (including a failure, whether intentional or in good faith or otherwise, to comply with the requirements of Subchapter M of the Code specified in Article III, Section 3.2 of this Agreement and the diversification requirements specified in Article III, Section 3.3 of this Agreement, as described more fully in Section 8.5 below); except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii) 7.4 hereof. This indemnification will be in addition to any liability that the Distributor otherwise may have.
(iib) The Distributor shall not No party will be liable entitled to indemnification under this indemnification provision with respect Section 7.2(a) if such loss, claim, damage, liability or action is due to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of the willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Partysuch party’s duties under this Agreement, or by reason of the Indemnified Partysuch party’s reckless disregard of or its obligations or duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor Parties will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor and the Trust of the commencement of any litigation litigation, proceedings, complaints or proceedings actions by regulatory authorities against it or any of its officers or directors them in connection with the issuance issuance, holding or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsTrust.
Appears in 1 contract
Sources: Participation Agreement (First Symetra National Life Insurance Co of Ny Sep Acct S)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s shares Portfolios or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or SAI or sales literature or other promotional material of the Investment Company (Fund prepared by the Fund or the Distributor(or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Company for use in the registration statement statement, Prospectus or Prospectus SAI for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by or the Insurer or Investment Company sharesPortfolios; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company sharesPortfolios; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor or the Fund; or
(Div) arise from a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund or the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor or the Fund (including, without limitation, any breach, whether unintentional or in good faith or otherwise, of the representations, warranties, or covenants set forth in Section 2.11 of this Agreement); or
(vi) arise out of or result from the Distributor; except ’s negligence, bad faith, or willful misconduct in performing its obligations hereunder, or
(vii) arise out of or result from the incorrect or untimely calculation or reporting by the Fund or the Distributor of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate, unless such incorrect or untimely calculation or reporting of the extent provided daily net asset value per share is caused by incorrect or untimely transmission of information by Company. As limited by and in accordance with the provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsAgreement.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Participation Agreement (Separate Acct No 49 of Axa Equitable Life Insurance Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurer, the principal underwriter of the Variable Contracts, and its affiliates, agents, employees, each of their directors and officers and each person, if any, who controls any affiliated person of the Insurer within the meaning of Section 15 2(a)(3) of the 1933 1940 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)7.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company Fund (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company Fund or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company Fund or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company Fund or Distributor, or the affiliates, employees, or agents of the Investment Company Fund or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyFund; or
(Div) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; or
(v) arise out of a failure by the Fund to comply with the diversification requirements of Section 817(h) of the Code or a failure by the Fund to qualify as a regulated investment company under Subchapter M of the Code; except to the extent provided in Sections 7(b)(ii7.2(b) and 7(b)(iii7.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Retiremap Variable Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Agreement (Futurefunds Series Account of Great West Life & Ann Ins Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer GWL&A within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund (or any amendment or supplement to any of the foregoing)) prepared or approved by the Distributor, or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided PROVIDED that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any failure by the Distributor to perform the obligations, provide the services and furnish the materials required of it under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the requirements applicable to the Distributor specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Sti Classic Variable Trust)
Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer Society and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Society within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer Society (collectively, the “Indemnified Parties” for purposes of this Section 7(b)) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer Society and:
(A) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature or advertisement of the Investment Company (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Society for use in the registration statement or Prospectus prospectus’ for the Investment Company or in sales literature or advertisement (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature or advertisement (or any amendment or supplementsupplement thereto) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer Society or Investment Company shares; or;
(B) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature or advertisement for the Variable Contracts not supplied by the Investment Company or the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer Society or Investment Company shares; or
(C) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature or advertisement covering the Variable Contracts issued by the InsurerSociety, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer Society by or on behalf of the Distributor or the Investment Company; or
(D) arise out of or result from any material breach of any representation and/or warranty made by the Investment Company or the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the DistributorDistributor (including a failure to comply with the diversification requirements specified in Section 2(j) and Section 3(b) of this Agreement, or to qualify as a regulated investment company under Subchapter M of the Code); except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer Society or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer Society shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer Society or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Modern Woodmen of America Variable Annuity Account)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Parties and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer an Insurance Party within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damagesdamages , liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale Sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales SAI or Sales literature or other promotional material of the Investment Company Fund prepared by the Distributor (or any amendment or supplement to any of the foregoing)) , or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer an Insurance Party for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales Sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale Sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI, Sales literature or sales literature other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale Sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus , SAI, Sales literature or sales literature other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer an Insurance Party by or on behalf of the Investment CompanyDistributor or
(iv) arise as a result of any failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the qualification requirements specified in Article VII of this Agreement) ; or
(Dv) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to or as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Futurefunds Series Account of Great West Life & Ann Ins Co)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)9.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Companya Fund’s shares or the Variable Contracts issued by the Insurer and:;
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or SAI or sales literature or other promotional material of a Fund prepared by the Investment Company Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement statement, Prospectus or Prospectus SAI for the Investment Company a Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials required under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to or as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii9.3(b) and 7(b)(iii9.3(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of its obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which that it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Fund Participation Agreement (Union Security Insurance Co Variable Account C)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer PLICO and its affiliates, agents, employees, their directors and officers and each person, if any, who controls the Insurer PLICO within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)7.3) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment CompanyFund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer PLICO for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer PLICO by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except to or
(vi) arise out of or result from the extent provided incorrect or untimely calculation or reporting of the daily net asset value per share or dividend or capital gain distribution rate; as limited by and in accordance with the provisions of Sections 7(b)(ii7.3(b) and 7(b)(iii) hereof7.3(c). This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have has notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have has been served upon such Indemnified Party (or after such Indemnified Party shall have has received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party Party named in the action. After notice from the Distributor to such party Party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party Party under this Agreement for any legal or other expense expenses subsequently incurred by such party Party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall PLICO agrees to promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Preferred and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Preferred within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.4) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not -------- apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer Preferred for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Preferred by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.4(b) and 7(b)(iii8.4(c) hereof.
(ii) The Distributor shall not be liable under this . This indemnification provision with respect is in addition to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in and apart from the performance responsibilities and obligations of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate AccountsDistributor specified in Article VI hereof.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Prudential Series Fund Inc)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer GWL&A and its affiliates, agents, employees, Schwab and each of their respective directors and officers and each person, . if any, who controls the Insurer GWL&A or Schwab within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” Partiest1 for purposes of this Section 7(b)8.5) against any and all losses, claims, damagesexpenses, damages and liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Fund's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or SAI or sales literature or other promotional material of the Investment Company Fund prepared by the Fund, Adviser or Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Adviser, the Distributor or the Investment Company or the designee of either Fund by or on behalf of the Insurer GWL&A or Schwab for use in the registration statement or Prospectus SAI or prospectus for the Investment Company Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company o~ Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus or prospectus, SAI, sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorFund, or the affiliates, employees, or agents of the Investment Company or the Distributor or Adviser or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or SAI, sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer GWL&A or Schwab by or on behalf of the Investment CompanyAdviser, the Distributor or Fund; or
(Div) arise as a result of any failure by the Fund, Adviser or Distributor to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification and other qualification requirements specified in Article VI of this Agreement); or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Fund, Adviser or Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Fund, Adviser or Distributor; except or
(vi) arise out of or result from the incorrect or untimely calculation or reporting of the daily net asset value per share (subject to Section 1.10 of this Agreement) or dividend or capital gain distribution rate; as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.5(b) and 7(b)(iii8.5(c) hereof. This indemnification is in addition to and apart from the responsibilities and obligations of the Distributor specified in Article VI hereof.
(ii8.5(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party's willful misfeasance, bad faith, or gross negligence in the performance of the or such Indemnified Party’s 's duties or by reason of the such Indemnified Party’s 's reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Prudential Series Fund Inc)
Indemnification by the Distributor. (i8.2(a) The Distributor agrees to indemnify and hold harmless the Insurer Insurance Company and each of its affiliatesdirectors, officers, employees or agents, employees, directors and officers and each person, if any, who controls the Insurer Insurance Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale sale, acquisition or acquisition redemption of the Investment CompanyTrust’s shares or the Variable Contracts issued by the Insurer and;:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement, prospectus, statement or Prospectus of additional information or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such the statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either Trust by or on behalf of the Insurer Insurance Company for use in the registration statement, prospectus, or statement or Prospectus of additional information for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or;
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, statement of additional information or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company or DistributorTrust, or the affiliates, employees, or agents of the Investment Company or the Distributor or persons under their control, with respect to the sale or distribution of the Variable Contracts issued by or shares of the Insurer or Investment Company shares; orTrust;
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, statement of additional information or sales literature covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Insurance Company by or on behalf of the Investment CompanyTrust;
(iv) arise as a result of any failure by the Trust to provide the services and furnish the materials under the terms of this Agreement (including a failure, whether unintentional or in good faith or otherwise, to comply with the diversification requirements specified in Article VI of this Agreement); or
(Dv) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii8.2(b) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which incurred or assessed against an Indemnified Party would otherwise be subject by reason of that may arise from the Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or and duties under this Agreement or to the Insurer Insurance Company or the Separate AccountsAccount, whichever is applicable.
(iii8.2(c) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such the Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such the Indemnified Party (or after such the Indemnified Party shall have received notice of such service on any designated agent). Notwithstanding the foregoing, but the failure of any Indemnified Party to give notice as provided herein shall not relieve the Distributor of its obligations hereunder except to the extent that the Distributor has been prejudiced by such failure to give notice. In addition, any failure by the Indemnified Party to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action; provided, however, that if the Indemnified Party shall have reasonably concluded that there may be defenses available to it which are different from or additional to those available to the Distributor, the Distributor shall not have the right to assume said defense, but shall pay the costs and expenses thereof (except that in no event shall the Distributor be liable for the fees and expenses of more than one counsel for Indemnified Parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances). After notice from the Distributor to such party the Indemnified Party of the Distributor’s election to assume the defense thereof, and in the absence of such a reasonable conclusion that there may be different or additional defenses available to the Indemnified Party, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such that party under this Agreement for any legal or other expense expenses subsequently incurred by such that party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv8.2(d) The Insurer shall promptly Insurance Company agrees to notify the Distributor promptly of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Trust, the Advisor and its affiliates, agents, employees, directors and officers the Company and each personof their directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act 1940 Act) of the Trust, the Advisor or who is under common control with the Insurer ▇▇▇▇▇▇▇ (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulationstatute, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to provide the services and furnish the materials under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer Company and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer Company within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)9.3) against any and all losses, claims, expenses, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including reasonable legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Companya Fund’s shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or SAI or sales literature or other promotional material of a Fund prepared by the Investment Company Distributor (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement Agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished in writing to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Company for use in the registration statement statement, Prospectus or Prospectus SAI for the Investment Company a Fund or in sales literature or other promotional material (or any amendment or supplement) or otherwise for use in supplement to any of the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplementforegoing) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus, SAI or sales literature or other promotional material for the Variable Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Fund shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, SAI, or sales literature or other promotional material covering the Variable Contracts issued by the InsurerContracts, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished in writing to the Insurer Company by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any failure by the Distributor to provide the services and furnish the materials required under the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to or as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii9.3(b) and 7(b)(iii9.3(c) hereof.
(iib) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, expenses, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of such Indemnified Party’s willful misfeasance, bad faith, or gross negligence in the performance of the such Indemnified Party’s duties or by reason of the such Indemnified Party’s reckless disregard of its obligations or duties under this Agreement or to any of the Insurer or the Separate AccountsIndemnified Parties.
(iiic) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which that it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision, except to the extent that the Distributor has been prejudiced by such failure to give notice. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is its own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense expenses subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(ivd) The Insurer shall Company agrees promptly to notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate AccountsAccount.
Appears in 1 contract
Sources: Fund Participation Agreement (Pruco Life Variable Universal Account)
Indemnification by the Distributor. (i) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers and each person, if any, who controls the Insurer within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “Indemnified Parties” for purposes of this Section 7(b)) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer and:
(A) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus prospectus or sales literature of the Investment Company (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company shares; or
(B) arise out of or as a result of any statement or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereof) or wrongful conduct of the Investment Company or Distributor, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company shares; or
(C) arise out of any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment Company; or
(D) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Coli Vul 2 Series Account)
Indemnification by the Distributor. (i) The Except to the extent provided in Sections 5.5 and 5.6, the Distributor agrees to indemnify and hold harmless the Insurer Adviser and the Trust and its affiliatesTrustees, agentsofficers, employees, directors employees and officers agents and each person, if any, who controls the Insurer Trust or the Adviser within the meaning of Section 15 of the 1933 Act or who is under common control with the Insurer (collectively, the “"Indemnified Parties” " for purposes of this Section 7(b)Article V) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor) or litigation expenses (including the reasonable costs of investigating or defending any alleged loss, claim, damage, liability or expense and reasonable legal and other expensescounsel fees incurred in connection therewith) (collectively, "Losses"), to which the Indemnified Parties may become subject under any statute or regulation, or at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses are related to the sale or acquisition of the Investment Company’s shares or the Variable Contracts issued by the Insurer andLosses:
(Aa) arise out of or are based upon any untrue statement statements or alleged untrue statement statements of any material fact contained in the a registration statement or Prospectus for the Contracts or for any fund managed by the Company or any affiliated Company that is available as an investment vehicle for the FSA Funds, or in the Contracts themselves or in sales literature generated or approved by the Company on behalf of the Investment Company Contracts, the FSA Funds, or the Accounts (or any amendment or supplement to any of the foregoing) (collectively, "Company Documents" for the purposes of this Article V), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify indemnity shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with was accurately derived from written information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Trust for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company or in sales literature (or any amendment or supplement) Documents or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bb) arise out of or as a result of any statement from statements or representations (other than statements or representations contained in the registration statementand accurately derived from Trust Documents or Adviser's Documents as defined in Section 5.2(a) and Section 5.3(a), Prospectus or sales literature for the Variable Contracts not supplied by the Distributor or any employees or agents thereofrespectively) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer Contracts, FSA Fund shares or Investment Company Trust shares; or
(Cc) arise out of or result from any untrue statement or alleged untrue statement of a material fact contained in a registration statement, Prospectus, Trust Documents or sales literature covering the Variable Contracts issued by the Insurer, or any amendment thereof or supplement thereto, Adviser's Documents as defined in Section 5.2(a) and Section 5.3(a) respectively or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, misleading if such statement or omission was made in reliance upon and accurately derived from written information furnished to the Insurer Trust by or on behalf of the Investment CompanyDistributor or persons under its control; or
(Dd) arise out of or result from any failure by the Distributor to provide the services or furnish the materials required under the terms of this Agreement; or
(e) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to the extent provided in Sections 7(b)(ii) and 7(b)(iii) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract
Sources: Fund Participation Agreement (Nations Separate Account Trust)
Indemnification by the Distributor. (ia) The Distributor agrees to indemnify and hold harmless the Insurer and its affiliates, agents, employees, directors and officers Company and each personof its directors, if anytrustees, who controls the Insurer within the meaning of officers, employees and agents and any affiliated person (as defined in Section 15 2(a)(3) of the 1933 Act or who is under common control with 1940 Act) of the Insurer Company (collectively, the “Indemnified Parties” "IN▇▇▇▇▇▇▇▇D PARTIES" for purposes of this Section 7(b)8.2) against any and all losses, claims, damages, liabilities (including amounts paid in settlement with the written consent of the Distributor, which consent shall not be unreasonably withheld) or litigation expenses (including legal and other expenses) to which the Indemnified Parties may become subject under any statute or statute, regulation, at common law or otherwise, insofar as such losses, claims, damages, liabilities or litigation expenses (or actions in respect thereof) or settlements are related to the sale or acquisition of the Investment Company’s Trust's shares or the Variable Contracts issued by the Insurer and:
(Ai) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in the registration statement or Prospectus or sales literature of the Investment Company Trust (or any amendment or supplement to any of the foregoing), or arise out of or are based upon the omission or the alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, provided that this agreement to indemnify shall not apply as to any Indemnified Party if such statement or omission or such alleged statement or omission was made in reliance upon and in conformity with information furnished to the Distributor or the Investment Company or the designee of either by or on behalf of the Insurer Indemnified Parties for use in the registration statement or Prospectus prospectus for the Investment Company or in sales literature (or any amendment or supplement) or otherwise for use in the registration statement or Prospectus for the Investment Company Trust or in sales literature (or any amendment or supplement) or otherwise for use in connection with the sale of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Bii) arise out of or as a result of any statement statements or representations (other than statements or representations contained in the registration statement, Prospectus prospectus or sales literature for the Variable Trust or the Contracts not supplied by the Distributor or any employees or agents thereofpersons under its control) or wrongful conduct of the Investment Company Distributor or Distributorpersons under its control, or the affiliates, employees, or agents of the Investment Company or the Distributor with respect to the sale or distribution of the Variable Contracts issued by the Insurer or Investment Company Trust shares; or
(Ciii) arise out of any untrue statement or alleged untrue statement of a material fact contained in a the Trust's registration statement, Prospectusprospectus, or sales literature covering the Variable Contracts issued by the Insurerliterature, or any amendment thereof or supplement thereto, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statement or statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Insurer by or on behalf of the Investment CompanyDistributor; or
(Div) arise as a result of any material failure by the Distributor to abide by the terms of this Agreement; or
(v) arise out of or result from any material breach of any representation and/or warranty made by the Distributor in this Agreement or arise out of or result from any other material breach of this Agreement by the Distributor; except to as limited by and in accordance with the extent provided in provisions of Sections 7(b)(ii8.2(b) and 7(b)(iii8.2(c) hereof.
(ii) The Distributor shall not be liable under this indemnification provision with respect to any losses, claims, damages, liabilities or litigation expenses to which an Indemnified Party would otherwise be subject by reason of willful misfeasance, bad faith, or gross negligence in the performance of the Indemnified Party’s duties or by reason of the Indemnified Party’s reckless disregard of obligations or duties under this Agreement or to the Insurer or the Separate Accounts.
(iii) The Distributor shall not be liable under this indemnification provision with respect to any claim made against an Indemnified Party unless such Party shall have notified the Distributor in writing within a reasonable time after the summons or other first legal process giving information of the nature of the claim shall have been served upon such Indemnified Party (or after such Party shall have received notice of such service on any designated agent), but failure to notify the Distributor of any such claim shall not relieve the Distributor from any liability which it may have to the Indemnified Party against whom such action is brought otherwise than on account of this indemnification provision. In case any such action is brought against the Indemnified Parties, the Distributor will be entitled to participate, at is own expense, in the defense thereof. The Distributor also shall be entitled to assume the defense thereof, with counsel satisfactory to the party named in the action. After notice from the Distributor to such party of the Distributor’s election to assume the defense thereof, the Indemnified Party shall bear the fees and expenses of any additional counsel retained by it, and the Distributor will not be liable to such party under this Agreement for any legal or other expense subsequently incurred by such party independently in connection with the defense thereof other than reasonable costs of investigation.
(iv) The Insurer shall promptly notify the Distributor of the commencement of any litigation or proceedings against it or any of its officers or directors in connection with the issuance or sale of the Variable Contracts issued by the Insurer or the operation of the Separate Accounts.
Appears in 1 contract