Common use of Central time each Business Day Clause in Contracts

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 entitled, the Fund shall make all necessary adjustments to the number of shares owned in the Account and distribute to the Account the amount of such underpayment for credit to Securian Life's Contract/Policy Owners.

Appears in 2 contracts

Samples: Participation Agreement (Advantus Series Fund Inc), Participation Agreement (Advantus Series Fund Inc)

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Central time each Business Day. 1.9 The Fund Trust agrees that its Portfolio Fund 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 Trust agrees that it will not sell shares of its Portfolios Funds (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 Fund (or any Class thereof) will be sold directly to the general public. Securian Minnesota Life agrees that it will use Fund Trust 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 Minnesota Life agrees that all net amounts available under the Variable Insurance Products referenced herein shall be invested in the Fund Trust 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 Minnesota Life's general account, provided that such amounts may also be invested in an investment company other than the Fund Trust if: ( a) Securian Minnesota Life gives the Fund Trust 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 Trust 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 FundTrust's shares (or any Class thereof), the Fund Trust shall notify Securian Minnesota Life as soon as practicable after discovering the need for those adjustments which result in a reimbursement to an Account in accordance with the FundTrust's then current policies on reimbursement, which the Fund Trust 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 entitled, the Fund Trust shall make all necessary adjustments to the number of shares owned in the Account and distribute to the Account the amount of such underpayment for credit to Securian Minnesota Life's Contract/Policy Owners.

Appears in 2 contracts

Samples: Participation Agreement (Variable Annuity Account), Participation Agreement (Minnesota Life Variable Life Account)

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 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 Securian 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 Securian Minnesota Life's general account, provided that such amounts may also be invested in an investment company other than the Fund if: : (a) Securian 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. 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 Minnesota 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 entitled, the Fund shall make all necessary adjustments to the number of shares owned in the Account and distribute to the Account the amount of such underpayment for credit to Securian Minnesota Life's Contract/Policy Owners.

Appears in 2 contracts

Samples: Participation Agreement (Advantus Series Fund Inc), Participation Agreement (Advantus Series Fund Inc)

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 Northstar 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 Northstar 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 Northstar Life's general account, provided that such amounts may also be invested in an investment company other than the Fund if: : (a) Securian Northstar 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)shares, the Fund shall notify Securian Northstar 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 entitled, the Fund shall make all necessary adjustments to the number of shares owned in the Account and distribute to the Account the amount of such underpayment for credit to Securian Northstar Life's Contract/Policy Owners.

Appears in 1 contract

Samples: Participation Agreement (Northstar Life Variable Universal Life Account)

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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)shares, 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 entitled, the Fund shall make all necessary adjustments to the number of shares owned in the Account and distribute to the Account the amount of such underpayment for credit to Securian Life's Contract/Policy Owners.

Appears in 1 contract

Samples: Participation Agreement (Advantus Series Fund Inc)

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