Equico, Equitable and Equitable Sample Clauses
The 'Equico, Equitable and Equitable' clause is designed to ensure that all parties to an agreement are treated fairly and that the terms of the contract are interpreted and enforced in a just and balanced manner. In practice, this clause may require that any ambiguities or disputes arising from the contract be resolved in a way that reflects fairness and equity, rather than strictly adhering to the literal wording if it would result in an unjust outcome. Its core function is to prevent one party from gaining an unfair advantage due to technicalities or imbalances in the contract, thereby promoting fairness and good faith in contractual relationships.
Equico, Equitable and Equitable. Variable shall each cause to be maintained and preserved such accounts, books and other documents as are required by the 1934 Act and 1940 Act and any other applicable laws and regulations. In particular, without limiting the foregoing, Equico shall cause all the books and records in connection with the offer and sale of the Variable Contracts to be maintained and preserved in conformity with the requirements of Rules 17a-3 and 17a-4 under the 1934 Act, to the extent that such requirements are applicable to the Variable Contracts. The payment of premiums, purchase payments, commissions and other fees and payments in connection with the Variable Contracts shall be reflected on the books and records of Equitable and of Equitable Variable, as provided in Section 1.4 hereof and as may otherwise be required under applicable NASD regulations and federal and applicable state securities laws requirements.
Equico, Equitable and Equitable. Variable shall each submit to all regulators and administrative bodies having jurisdiction over the sales of the Variable Contracts, present or future, any information, reports, or other material that any such body by reason of this Agreement may request or require pursuant to applicable laws or regulations. In particular, without limiting the foregoing, Equitable and Equitable Variable agree that any books and records which they maintain pursuant to Section 1.5 of this Agreement which are required to be maintained under Rule 17a-3 or 17a-4 of the 1934 Act shall be subject to inspection by the Securities and Exchange commission ("SEC") in accordance with Section 17(a) of the 1934 Act.
Equico, Equitable and Equitable. Variable from time to time during the term of this Agreement, shall allocate among themselves, subject to a right of further delegation, the administrative responsibility for maintaining and preserving the books, records and accounts kept in connection with the Variable Contracts; provided, however, in the case of books, records and accounts kept pursuant to a requirement of applicable law or regulation, the ultimate responsibility for maintaining and preserving such books, records and accounts shall be that of the party which is required to maintain or preserve such books, records and accounts under the applicable law or regulation, and such books, records and accounts shall be maintained and preserved under the supervision of that party. Equico, Equitable and Equitable Variable shall cause each other to be furnished with such reports as each may reasonably request for the purpose of meeting its respective reporting and recordkeeping requirements under such regulations and laws and under the insurance laws of the State of New York and any other applicable states or jurisdictions.