Common use of Capital Contribution Clause in Contracts

Capital Contribution. The Company on behalf of the Account shall, within sixty days after the end of each fiscal year of the Fund, make a capital contribution to the Fund in respect of each Portfolio equal to the Required Contribution for that Portfolio for such year; provided, however, that in the event that both clauses (i) and (ii) of paragraph (d) of Section 1 of this Agreement or similar agreements are applicable to different Participating Insurance Companies during the same fiscal year, there shall be a proportionate reduction of the Required Contribution of each Participating Insurance Company to which said clause (ii) is applicable so that the total of all required capital contributions to the Fund on behalf of any Portfolio is not greater than the excess of the expenses of that Portfolio for that fiscal year less the percentage of that Portfolio's total expenses set forth in paragraph (c) of Section 1 of this Agreement for such fiscal year.

Appears in 14 contracts

Samples: Participation Agreement (Charter National Variable Annuity Account), Participation Agreement (Provident Mutual Variable Annuity Separate Account), Participation Agreement (Intramerica Variable Annuity Account)

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Capital Contribution. The Company on behalf of the each Account shall, within sixty days after the end of each fiscal year of the Fund, make a capital contribution to the Fund in respect of each Portfolio equal to the Required Contribution for that Portfolio for such year; provided, however, that in the event that both clauses (i) and (ii) of paragraph (d) of Section 1 of this Agreement or similar agreements are applicable to different Participating Insurance Companies during the same fiscal year, there shall be a proportionate reduction of the Required Contribution of each Participating Insurance Company to which said clause (ii) is applicable so that the total of all required capital contributions to the Fund on behalf of any Portfolio is not greater than the excess of the expenses of that Portfolio for that fiscal year less the percentage of that Portfolio's total expenses set forth in paragraph (c) of Section 1 of this Agreement for such fiscal year.

Appears in 4 contracts

Samples: Participation Agreement (Life Insurance Separate Account of Usaa Life Insurance Co), Participation Agreement (Life Insurance Separate Account of Usaa Life Insurance Co), Participation Agreement (Separate Account of Usaa Life Insurance Co)

Capital Contribution. The Company on behalf of the Account shall, within sixty days after the end of each fiscal year of the Fund, make a capital contribution to the Fund in respect of each Portfolio equal to the Required Contribution for that Portfolio for such year; provided, however, that in the event that both clauses (i) and (ii) of paragraph (d) of Section 1 of this Agreement or similar agreements are applicable to different Participating Insurance insurance Companies during the same fiscal year, there shall be a proportionate reduction of the Required Contribution of each Participating Insurance Company to which said clause (ii) is applicable so that the total of all required capital contributions to the Fund on behalf of any Portfolio is not greater than the excess of the expenses of that Portfolio for that fiscal year less the percentage of that Portfolio's total expenses set forth in paragraph (c) of Section 1 of this Agreement for such fiscal year.

Appears in 1 contract

Samples: Participation Agreement (United of Omaha Separate Account C)

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Capital Contribution. The Company on behalf of the Account shall, within sixty days after the end of each fiscal year of the Fund, make a capital contribution to the Fund in respect of each Portfolio equal to the Required Contribution for that Portfolio for such year; provided, however, that in the event that both clauses (i) and (ii) of paragraph (d) of Section 1 of this Agreement or similar agreements are applicable to different Participating participating Insurance Companies during the same fiscal year, there shall be a proportionate reduction of the Required Contribution of each Participating Insurance Company to which said clause (ii) is applicable so that the total of all required capital contributions to the Fund on behalf of any Portfolio is not greater than the excess of the expenses of that Portfolio for that fiscal year less the percentage of that Portfolio's total expenses set forth in paragraph (c) of Section 1 of this Agreement for such fiscal year.

Appears in 1 contract

Samples: Participation Agreement (Lincoln Benefit Life Variable Life Account)

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