Common use of USL Clause in Contracts

USL. USL will determine in its sole discretion whether to accept and issue Contracts submitted to USL by the Sales Persons. USL will return any incomplete applications to the Sales Persons. USL will provide the Sales Persons with all policy forms, the "Definition of Replacement Form" and any other regulatory forms required to be completed in connection with the Contracts. USL will inform the Associated Agency, the Sales Persons and Selling Group Member regarding any limitations on the availability of the Contracts in New York. USL represents that the prospectus(es) and registration statement(s) relating to the Contracts contain no untrue statements of material fact or omission of a material fact, the omission of which makes any statement contained in the prospectus and registration statement materially false or misleading. USL agrees to indemnify Associated Agency and Selling Group Member from and against any claims, liabilities and expenses which may be incurred by any of those parties under the Securities Act of 1933, the 1934 Act, the Investment Act of 1940, common law, or otherwise, that arise out of a breach of this paragraph.

USL. USL will determine in its sole discretion whether to accept and issue Contracts submitted to USL by the Sales Persons. USL will return any incomplete applications to the Sales Persons. USL will provide the Sales Persons with all policy forms, the "Definition of Replacement Form" and any other regulatory forms required to be completed in connection with the Contracts. USL will inform the Associated Agency, the Sales Persons and Selling Group Member regarding any limitations on the availability of the Contracts in New York. USL represents that the prospectus(es) and registration statement(s) relating to the Contracts contain no untrue statements of material fact or omission of a material fact, the omission of which makes any statement contained in the prospectus and registration statement materially false or misleading. USL agrees to indemnify Associated Agency and Selling Group Member from and against any claims, liabilities and expenses which may be incurred by any of those parties under the Securities Act of 1933, the 1934 Act, the Investment Act of 1940, common law, or otherwise, that arise arises out of a breach of this paragraph.