PROMPT DELIVERY. Depending on the type of Contract, Company may forward issued Contracts to Broker for delivery to the Contract owner and in such cases, Broker shall promptly deliver each such Contract to the respective Contract owner. With respect to Registered Contracts, Broker must deliver the Contract within the five (5) business days after receipt by Broker. Broker shall be liable to Company for any loss incurred by Company (including consequential damages and regulatory penalties where permitted by applicable law) due to any delay by Broker, its Registered Representatives or Agents in delivering such Contract. Notwithstanding this provision, Company, in its sole discretion, reserves the right to transmit documentation directly to the Contract owner.
Appears in 3 contracts
Sources: Variable Insurance Products Sales Agreement (Aul American Individual Variable Annuity Unit Trust), Variable Insurance Products Sales Agreement (Aul American Individual Variable Life Unit Trust), Variable Insurance Products Sales Agreement (Aul American Individual Variable Life Unit Trust)