Common use of FIRST GREAT Clause in Contracts

FIRST GREAT. WEST represents and warrants that: (i) it is an insurance company duly organized, validly existing and in good standing under the laws of the State of New York and has full corporate power, authority and legal right to execute, deliver and perform its duties and comply with its obligations under this Agreement, (ii) it will legally and validly establish and maintain each Account as a segregated asset account under Section 4220of the New York Insurance Code and the regulations thereunder, and (iii) the Contracts comply in all material respects with all other applicable federal and state laws and regulations.

FIRST GREAT. WEST represents and warrants that: (i) it is an insurance company duly organized, validly existing and in good standing under the laws of the State of New York and has full corporate power, authority and legal right to execute, deliver and perform its duties and comply with its obligations under this Agreement, (ii) it will legally and validly establish and maintain each Account as a segregated asset account under Section 4220of 4220 of the New York Insurance Code and the regulations thereunder, and (iii) the Contracts comply in all material respects with all other applicable federal and state laws and regulations.