Common use of Diversification Clause in Contracts

Diversification. 6.1. The Fund will at all times invest money from the Variable Products in such a manner as to ensure that the Variable Products will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 28 contracts

Samples: Participation Agreement (Separate Account Va-K of Commonwealth Annuity & Life Insurance Co), Participation Agreement (Allmerica Investment Trust), Participation Agreement (Allmerica Investment Trust)

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Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817817-5.

Appears in 27 contracts

Samples: Participation Agreement (Allstate Life of New York Separate Account A), Participation Agreement (United Companies Separate Account One), Participation Agreement (United Companies Separate Account One)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 13 contracts

Samples: Fund Participation Agreement (Talcott Resolution Life & Annuity Insur Co Separate Account Three), Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M), Participation Agreement (Hartford Life & Annuity Insurance Co Sep Account Vl I)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5. ARTICLE VII.

Appears in 9 contracts

Samples: Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M), Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M), Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Internal Revenue Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Internal Revenue Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify the Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within with the grace period afforded by Treasury Regulation 1.817-5.

Appears in 8 contracts

Samples: Participation Agreement (Occ Accumulation Trust), Participation Agreement (Sun Life of Canada U S Variable Account F), Participation Agreement (Occ Accumulation Trust)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 5 contracts

Samples: Participation Agreement (American Separate Account 5), Participation Agreement (National Variable Life Insurance Account), Participation Agreement (WRL Series Life Corporate Account)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Internal Revenue Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Internal Revenue Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify the Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Treasury Regulation 1.817-5.

Appears in 5 contracts

Samples: Participation Agreement (JPF Variable Annuity Separate Account), Participation Agreement (American Foundation Variable Annuity Separate Account), Participation Agreement (Protective Variable Annuity Separate Account)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company Society of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 3 contracts

Samples: Participation Agreement (Modern Woodmen of America Variable Account), Participation Agreement (Modern Woodmen of America Variable Annuity Account), Participation Agreement (Modern Woodmen of America Variable Annuity Account)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products in such a manner as to ensure that the Variable Products will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to diversify adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 3 contracts

Samples: Fund Participation Agreement (Lazard Retirement Series Inc), Participation Agreement (Fulcrum Separate Account of First Allmerica Fin Life Ins Co), Participation Agreement (Fulcrum Separate Account Allmerica Fin Life Ins & Annuity Co)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h8 17 (h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 3 contracts

Samples: Participation Agreement (Lincoln Life Variable Annuity Account N), Participation Agreement (Lincoln Life Flexible Premium Variable Life Account M), Participation Agreement (Lincoln Life Flexible Premium Variable Life Account M)

Diversification. 6.16. 1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h8 17(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 2 contracts

Samples: Participation Agreement (Lincoln Life & Annuity Flexible Prem Vari Life Acct M), Participation Agreement (Lincoln New York Account N for Variable Annuities)

Diversification. 6.14.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 2 contracts

Samples: Participation Agreement (Riversource Variable Annuity Account), Participation Agreement (Riversource of New York Variable Annuity Account 2)

Diversification. 6.16. 1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 2 contracts

Samples: Participation Agreement (First Penn Pacific Variable Life Insurance Separate Account), Participation Agreement (Lincoln New York Account N for Variable Annuities)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Internal Revenue Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h81 7(h) of the Internal Revenue Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify the Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Treasury Regulation 1.817-5.

Appears in 2 contracts

Samples: Participation Agreement (Il Annuity & Insurance Co Separate Account 1), Participation Agreement (Bankers Life Insurance Co of New York Separate Account I)

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Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h8 17(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 2 contracts

Samples: Participation Agreement (Hamilton Alexander Variable Annuity Separate Account), Participation Agreement (Hamilton Alexander Variable Annuity Separate Account)

Diversification. 6.1. 6.1 The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, endowment or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within with the grace period afforded by Regulation 1.817817-5.

Appears in 1 contract

Samples: Participation Agreement (Variable Annuity Life Insurance Co Separate Account A)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps necessary (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817817-5.

Appears in 1 contract

Samples: Participation Agreement (Kilico Variable Separate Account 2)

Diversification. <Page> 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.

Appears in 1 contract

Samples: Participation Agreement (Lincoln Life Flexible Premium Variable Life Account M)

Diversification. 6.1. 6.1 The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Internal Revenue Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Internal Revenue Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) steps: A. to notify the Company of such breach and (b) and B. to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Treasury Regulation 1.817-5.

Appears in 1 contract

Samples: Participation Agreement (Hartford Life Insurance Company Separate Account Two)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817-5.Regulation

Appears in 1 contract

Samples: Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M)

Diversification. 6.1. The Fund represents and warrants that it will at all times invest money from the Variable Products Contracts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within the grace period afforded by Regulation 1.817817-5.

Appears in 1 contract

Samples: Participation Agreement (Separate Account Ii of National Integrity Life Insurance Co)

Diversification. 6.1. The Fund will at all times invest money from the Variable Products Contacts in such a manner as to ensure that the Variable Products Contracts will be treated as variable contracts under the Code and the regulations issued thereunder. Without limiting the scope of the foregoing, the Fund will at all times comply with Section 817(h) of the Code and Treasury Regulation 1.817-5, relating to the diversification requirements for variable annuity, endowment, or life insurance contracts and any amendments or other modifications to such Section or Regulations. In the event of a breach of this Article VI by the Fund, it will take all reasonable steps (a) to notify Company of such breach and (b) to adequately diversify the Fund so as to achieve compliance within with the grace period afforded by Regulation 1.817-5.

Appears in 1 contract

Samples: Participation Agreement (JPL Separate Account B of Jefferson Pilot Lifeamerica Ins Co)

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