Common use of Charges Upon the Account Clause in Contracts

Charges Upon the Account. Any income taxes or other taxes of any kind whatsoever that may be levied or assessed upon or in respect of the Account (including any transfer taxes incurred in connection with the investment and reinvestment of Account assets), expenses, fees and administrative costs incurred by the Custodian in the performance of its duties (including fees for legal services rendered to the Custodian), and the Custodian's compensation as determined under Article 7.1 shall constitute a charge upon the assets of the Account. At the Custodian's option, such fees, taxes or expenses shall be paid from the Account or by the Account Holder. The Custodian may redeem Fund shares and use the proceeds of redemption to pay such fees, taxes or expenses, and the Custodian will have no liability for loss of income or appreciation as a result of the Custodian's selection of Fund shares to be redeemed under this sentence.

Charges Upon the Account. Any income taxes or other taxes of any kind whatsoever that may be levied or assessed upon or in respect of the Account (including any transfer taxes incurred in connection with the investment and reinvestment of Account assets), expenses, fees and administrative costs incurred by the Custodian in the performance of its duties (including fees for legal services rendered to the Custodian), and the Custodian's compensation as determined under Article 7.1 shall constitute a charge upon the assets of the Account. At the Custodian's option, such fees, taxes or expenses shall be paid from the Account or by the Account Holder. The Custodian may redeem Fund fund shares and use the proceeds of redemption to pay such fees, taxes or expenses, and the Custodian will have no liability for loss of income or appreciation as a result of the Custodian's selection of Fund shares to be redeemed under this sentence.