Distribution Related Fees. The Distributor, or its designee, agrees to pay the Insurance Parties or their affiliate a per annum fee, as described in the Fund's then current prospectus, of the average aggregate daily net asset value of shares of Designated Portfolio(s) held in the Accounts. Such fee shall be paid in arrears, quarterly. Each quarterly fee will be determined based on average assets in the Accounts for the quarter and each quarterly fee will be independent of every other quarterly fee. Such fee shall be due and payable automatically within 30 (thirty) days upon receipt of invoice from the Insurance Parties.
Appears in 4 contracts
Samples: Fund Participation Agreement (Variable Annuity-2 Series Account), Fund Participation Agreement (Variable Annuity-2 Series Account), Fund Participation Agreement (Variable Annuity-2 Series Account)
Distribution Related Fees. The Distributor, or its designee, agrees to pay the Insurance Parties or their affiliate a fee of .25% per annum fee, as described in the Fund's then current prospectus, of the average aggregate daily net asset value of shares of Designated Portfolio(s) held in the Accounts. Such fee shall be paid in arrears, quarterly. Each quarterly quarter’s fee will shall be determined based on average assets in the Accounts for at the end of each quarter and each quarterly fee will be independent of every other quarterly fee. Such fee shall be due and payable automatically within 30 (thirty) days upon receipt of invoice from the Insurance Parties.be
Appears in 1 contract
Samples: Fund Participation Agreement (Lazard Retirement Series Inc)
