Common use of Administration and Servicing of the Contracts Clause in Contracts

Administration and Servicing of the Contracts. In connection with the offering of the Contracts, the Company shall be fully responsible for the underwriting, issuance, service and administration of the Contracts and for the administration of the Account, including, without limitation, the calculation of performance information for the Contracts, the timely payment of Contract Owner redemption requests and processing of Contract transactions, and the maintenance of a service center. The Company shall use its best efforts to perform such functions in all respects at a level commensurate with those standards prevailing in the variable insurance industry. Subject to Section 5.4, the Company shall provide to Contract Owners all Trust reports, solicitations for voting instructions including any related Trust proxy solicitation materials, and updated Trust Prospectuses as required under the federal securities laws.

Administration and Servicing of the Contracts. In connection with the offering of the Contracts, the Company shall be fully responsible for the underwriting, issuance, service and administration of the Contracts and for the administration of the Account, including, without limitation, the calculation of performance information for the Contracts, the timely payment of Contract Owner redemption requests and processing of Contract transactions, and the maintenance of a service center. The Company shall use its best efforts to perform such functions in all respects respect at a level commensurate with those standards prevailing in the variable insurance industry. Subject to Section 5.4, the Company shall provide to Contract Owners all Trust reports, solicitations for voting instructions including any related Trust proxy solicitation materials, and updated Trust Prospectuses as required under the federal securities laws.