UNDERSTOOD AND AGREED THAT. If the Owner is a Trustee or successor Trustee under a tax qualified plan or the employer under a tax qualified non-trusteed plan, Northwestern Mutual Life will be fully discharged of liability for any action taken by the Owner in the exercise of any contract right and for all amounts paid to, or at the direction of, the Owner and will have no obligation as to the use of the amounts. In all dealings with the Owner, Northwestern Mutual Life will be fully protected against the claims of every other person.
Appears in 2 contracts
Sources: Flexible Payment Variable Annuity (NML Variable Annuity Acct C of Northwestern Mut Life Ins Co), Flexible Payment Variable Annuity Agreement (NML Variable Annuity Acct C of Northwestern Mut Life Ins Co)