Central time each Business Day. 1.9 The Fund agrees that its Portfolio shares (or any Class thereof) will be sold only to Participating Insurance Companies and their separate accounts and to certain qualified pension and retirement plans to the extent permitted by the Mixed and Shared Funding Exemptive Order. The Fund agrees that it will not sell shares of its Portfolios (or any Class thereof) to any other insurance company or separate account unless an agreement containing provisions substantially the same as Section 2.4 and Articles I and V of this Agreement is in effect to govern sales. No shares of any Portfolio (or any Class thereof) will be sold directly to the general public. Securian Life agrees that it will use Fund shares only for the purposes of funding the Variable Insurance Products through the Accounts listed in Schedule A, as amended from time to time.
1.10 Securian Life agrees that all net amounts available under the Variable Insurance Products referenced herein shall be invested in the Fund or in such other investment companies advised by the Adviser or its affiliates as may be mutually agreed to in writing by the parties hereto, or in Securian Life's general account, provided that such amounts may also be invested in an investment company other than the Fund if: (a) Securian Life gives the Fund and the Adviser forty-five (45) days written notice of its intention to make such other investment company available as a funding vehicle for these Variable Insurance Products; or (b) such other investment company is available as a funding vehicle for these Variable Insurance Products at the date of this Agreement.
1.11 The Fund agrees that all Participating Insurance Companies shall have the obligations and responsibilities regarding pass-through voting and conflicts of interest corresponding to those contained in Section 2.10 and Article IV of this Agreement.
1.12 In the event adjustments are required to correct any material error in the computation of the net asset value of the Fund's shares (or any Class thereof), the Fund shall notify Securian Life as soon as practicable after discovering the need for those adjustments which result in a reimbursement to an Account in accordance with the Fund's then current policies on reimbursement, which the Fund represents are consistent with applicable SEC standards. If an adjustment is to be made in accordance with such policies to correct an error which has caused an Account to receive an amount different than that to which it is entitl...
Central time each Business Day. The Company or its agent shall use this data to calculate unit values. Unit values shall be used to process the same Business Day's contract transactions. When the Company is able to utilize the National Securities Clearing Corporation ("NSCC") Defined Contribution Clearing and Settlement ("DCC&S") Fund/SERV system, orders to purchase and redeem shares of the Funds received by the Company prior to the close of trading on the New York Stock Exchange (the "NYSE") (typically, 4:00 p.m. Eastern Time) on any day that the NYSE is open for business ("Day 1") will be transmitted via the NSCC's Fund/SERV system for receipt by the Funds or the Unified Fund Services, Inc. (the "Transfer Agent" for the Funds) by no later than 6:30 a.m. Eastern Time (cycle 8) on the next day that the Funds are open for business ("Day 2") (such purchases and redemptions are referred to as "Day 1 Trades"). Until the Company achieves Fund/SERV utility, or if for any other reason any Day 1 Trades are not received by the Transfer Agent via the NSCC's Fund/SERV system prior to 7:00 a.m. Eastern Time on Day 2, such Day 1 Trades shall be received by the Transfer Agent via fax no later than 9:00 a.m. Eastern Time on Day 2. Such purchase and redemption orders shall be transmitted without modification (except for netting or aggregating such orders). Trust will not accept any order made on a conditional basis or subject to any delay or contingency. When operating outside of the DCC&S Fund/SERV system, each party shall, as soon as practicable after transmittal of an instruction or confirmation, verify the other party's receipt of such instruction or confirmation, and in the absence of such verification such a party to whom an instruction or confirmation is sent shall not be liable for any failure to act in accordance with such instruction or confirmation, and the sending party may not claim that such an instruction or confirmation was received by the other. Each party shall notify the other of any errors, omissions or interruptions in, or delay or unavailability as promptly as possible.
a) For those purchase orders not transmitted via the DCC&S Fund/SERV system, the Company shall complete payment to the Trust or its designated agent in federal funds no later than 2:00 p.m. Central Time on the Business Day following the day on which the instructions are treated as having been received by the Trust pursuant to this Agreement.
b) For those redemption orders not transmitted via the DCC&S Fund/SERV syst...
Central time each Business Day. 1.9 The Fund agrees that its Portfolio shares will be sold only to Participating Insurance Companies and their separate accounts and to certain qualified pension and retirement plans to the extent permitted by the Mixed Funding Exemptive Order. The Fund agrees that it will not sell shares of its Portfolios to any other insurance company or separate account unless an agreement containing provisions substantially the same as Section 2.4 and Articles I and V of this Agreement is in effect to govern sales. No shares of any Portfolio will be sold directly to the general public. Minnesota Life agrees that it will use Fund shares only for the purposes of funding the Variable Insurance Products through the Accounts listed in Schedule A, as amended from time to time.
1.10 Minnesota Life agrees that all net amounts available under the Variable Insurance Products referenced herein shall be invested in the Fund or in such other investment companies advised by the Adviser or its affiliates as may be mutually agreed to in writing by the parties hereto, or in Minnesota Life's general account, provided that such amounts may also be invested in an investment company other than the Fund if:
(a) Minnesota Life gives the Fund and the Adviser forty-five (45) days written notice of its intention to make such other investment company available as a funding vehicle for these Variable Insurance Products; or (b) such other investment company is available as a funding vehicle for these Variable Insurance Products at the date of this Agreement.
1.11 The Fund agrees that all Participating Insurance Companies shall have the obligations and responsibilities regarding pass-through voting and conflicts of interest corresponding to those contained in Section 2.10 and Article IV of this Agreement.
Central time each Business Day. 1.9 The Fund agrees that its Portfolio shares will be sold only to Participating Insurance Companies and their separate accounts and to certain qualified pension and retirement plans to the extent permitted by the Mixed and Shared Funding Exemptive Order. The Fund agrees that it will not sell shares of its Portfolios to any other insurance company or separate account unless an agreement containing provisions substantially the same as Section 2.4 and Articles I and V of this Agreement is in effect to govern sales. No shares of any Portfolio will be sold directly to the general public. The Company agrees that it will use Fund shares only for the purposes of funding the Variable Insurance Products through the Accounts listed in Schedule A, as amended from time to time.
1.10 The Company agrees that all net amounts available under the Variable Insurance Products referenced herein shall be invested in the Fund or in such other investment companies advised by the Adviser or its affiliates as may be mutually agreed to in writing by the parties hereto, or in the Company's general account, provided that such amounts may also be invested in an investment company other than the Fund if: (a) the Company gives the Fund and the Adviser forty-five (45) days written notice of its intention to make such other investment company available as a funding vehicle for these Variable Insurance Products; or (b) such other investment company is available as a funding vehicle for these Variable Insurance Products at the date of this Agreement.
1.11 The Fund agrees that all Participating Insurance Companies shall have the obligations and responsibilities regarding pass-through voting and conflicts of interest corresponding to those contained in Section 2.09 and Article IV of this Agreement.
