Common use of Contribution Units Clause in Contracts

Contribution Units. Each of the Sub-Funds will be notionally divided into units of equal value (each a “Contribution Unit”). The Trustee acknowledges and agrees, without prejudice to the generality of Clause 2.3, that the unitisation of a Sub-Fund is notional only for the limited purpose of determining benefits due under the Policy and any references in the Policy to a “Contribution Unit” and/or the “allocation” and/or “cancellation” thereof, or the “investment” in Contribution Units shall be construed accordingly. The time for allocation or cancellation of a Contribution Unit is the time specified in the entry made in relation to the allocation or cancellation on the records of MPF. MPF must allocate or cancel Contribution Units in accordance with Clauses 8, 9 or 10 and shall not allocate or cancel Contribution Units otherwise under the Policy.

Contribution Units. Each of the Sub-Funds will be notionally divided into units of equal value (each a ““ Contribution Unit”). The Trustee acknowledges and agrees, without prejudice to the generality of Clause 2.3, that the unitisation of a Sub-Fund is notional only for the limited purpose of determining benefits due under the Policy and any references in the Policy to a “Contribution Unit” and/or the “allocation” and/or “cancellation” thereof, or the “investment” in Contribution Units shall be construed accordingly. The time for allocation or cancellation of a Contribution Unit is the time specified in the entry made in relation to the allocation or cancellation can cellation on the records of MPF. MPF must allocate or cancel Contribution Units in accordance with Clauses 8, 9 or 10 and shall not allocate or cancel Contribution Units otherwise under the Policy.