Common use of UNDERSTOOD AND AGREED THAT Clause in Contracts

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. The first purchase payment will be credited the valuation date coincident with or next following the date both the application and the purchase payment are received at the Home Office. Receipt of purchase payments at a payment facility designated by Northwestern Mutual Life will be considered the same as receipt at the Home Office. If a Tax Qualified Employee Plan, an IRA or TDA is applied for, the Applicant and/or Annuitant have received and reviewed the appropriate ERISA, IRA or TDA disclosure statements. BACK-END DESIGN VARIABLE ANNUITY CONTRACTS HAVE PROVISIONS FOR THE ASSESSMENT OF SURRENDER CHARGES ON CASH WITHDRAWAL. No agent is authorized to make or alter contracts or to waive the rights or requirements of Northwestern Mutual Life. I acknowledge receipt of the Prospectus or Offering Circular and Report and I understand that all payments and values provided by this contract, when based on the investment experience of a separate account, are variable and are not guaranteed as to amount.

UNDERSTOOD AND AGREED THAT. For the purposes of this application, if a Variable Annuity is applied for, the word "policy" means contract and the word "premium" means purchase payment. If the Owner is a Trustee or a successor Trustee under a tax qualified plan or the employer under a tax qualified non-trusteed plan, Northwestern Mutual Life LIfe will be fully discharged of liability for any action taken by the Owner in the exercise of any contract policy 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. The first initial purchase payment will be credited the valuation date coincident with or next following the date both the application and the purchase payment are it is received at the Home Office. Receipt of purchase payments at a payment facility designated by Northwestern Mutual Life LIfe will be considered the same as receipt at the Home Office. If a Tax Qualified Employee Plan, an IRA or TDA is applied for, the Applicant and/or Annuitant have received and reviewed the appropriate ERISA, IRA or TDA disclosure statements. BACK-END DESIGN VARIABLE ANNUITY CONTRACTS AND SINGLE PREMIUM RETIREMENT ANNUITY POLICIES HAVE PROVISIONS FOR THE ASSESSMENT OF SURRENDER CHARGES ON CASH WITHDRAWAL. No agent is authorized to make or alter contracts or to waive the rights or requirements of Northwestern Mutual Life. I acknowledge receipt of the Prospectus or Offering Circular and Report and I understand that all payments and values provided by this contract, when based on the investment experience of a separate account, are variable and are not guaranteed as to amount.

UNDERSTOOD AND AGREED THAT. For the purposes of this application, if a Variable Annuity is applied for, the word "policy" means contract and the word "premium" means purchase payment. If the Owner is a Trustee or a successor Trustee under a tax qualified plan or the employer under a tax qualified non-trusteed plan, Northwestern Mutual Life LIfe will be fully discharged of liability for any action taken by the Owner in the exercise of any contract policy 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. The first initial purchase payment will be credited the valuation date coincident with or next following the date both the application and the purchase payment are it is received at the Home Office. Receipt of purchase payments at a payment facility designated by Northwestern Mutual Life will be considered the same as receipt at the Home Office. If a Tax Qualified Employee Plan, an IRA or TDA is applied for, the Applicant and/or Annuitant have received and reviewed the appropriate ERISA, IRA or TDA disclosure statements. BACK-END DESIGN VARIABLE ANNUITY CONTRACTS AND SINGLE PREMIUM RETIREMENT ANNUITY POLICIES HAVE PROVISIONS FOR THE ASSESSMENT OF SURRENDER CHARGES ON CASH WITHDRAWAL. No agent is authorized to make or alter contracts or to waive the rights or requirements of Northwestern Mutual Life. I acknowledge receipt of the Prospectus or Offering Circular and Report and I understand that all payments and values provided by this contract, when based on the investment experience of a separate account, are variable and are not guaranteed as to amount.

UNDERSTOOD AND AGREED THAT. For the purposes of this application, if a Variable Annuity is applied for, the word "policy" means contract and the word "premium" means purchase payment. 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 LIfe will be fully discharged of liability for any action taken by the Owner in the exercise of any contract policy 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. The first initial purchase payment will be credited the valuation date coincident with or next following the date both the application and the purchase payment are it is received at the Home Office. Receipt of purchase payments at a payment facility designated by Northwestern Mutual Life LIfe will be considered the same as receipt at the Home Office. If a Tax Qualified Employee Plan, an IRA or TDA is applied for, the Applicant and/or Annuitant have received and reviewed the appropriate ERISA, IRA or TDA disclosure statements. BACK-END DESIGN VARIABLE ANNUITY CONTRACTS AND SINGLE PREMIUM RETIREMENT ANNUITY POLICIES HAVE PROVISIONS FOR THE ASSESSMENT OF SURRENDER CHARGES ON CASH WITHDRAWAL. No agent is authorized to make or alter contracts or to waive the rights or requirements of Northwestern Mutual Life. I acknowledge receipt of the Prospectus or Offering Circular and Report and I understand that all payments and values provided by this contract, when based on the investment experience of a separate account, are variable and are not guaranteed as to amount.