Frequent Transfers Sample Clauses
Frequent Transfers. In addition to the above restrictions, we reserve the right, in our sole discretion, to limit, modify, restrict, suspend or eliminate your right to make transfers without prior notice to you. This contract is not designed for use by individuals or other entities that engage in “market timing” or other types of frequent trading, unusually large transfers, short-term trading or programmed transfers. A limitation or modification could be applied to transfers to, or from, one or more of the Allocation Options and could include, but is not limited to: • requiring transfer requests to be made in writing through the U.S. Postal Service or otherwise restricting electronic or telephonic transaction privileges; • refusing to act on instructions of an agent acting under a power of attorney on your behalf; • imposing a holding period between transfers; • implementing and imposing on you any redemption fee imposed by the underlying investments of any Variable Investment Option in which you invest; • upon request, providing information to the underlying investments of any Variable Investment Option about you and your activity; • rejecting or reversing any transfer request (in whole or in part) if our order to purchase shares of the underlying investments of any Variable Investment Option is not accepted by, or is reversed by, the underlying investments or if we are otherwise informed that any such purchase (or redemption) of shares to execute a transfer request would have a detrimental effect on the underlying investments; • refusing or otherwise restricting any transfer request that we believe alone or with a group of transfer requests may have a detrimental effect on Account R or the Variable Investment Options. We may add to or remove, or change these restrictions at any time and without prior notice to you. We will monitor for frequent transfer activity among the Allocation Options based upon established parameters that are applied consistently to all contractowners, including, without limitation, the length of the holding period between transfers, the number of transfers in a specified period, the dollar amount of transfers and any combination of the above. During the period up to 30 days before the Annuity Commencement Date, you may transfer all or a portion of your Accumulation Value among the Allocation Options, subject to the Frequent Transfer provision set forth above as well as to any limit we may set on the number of Allocation Options into which the Accumul...
Frequent Transfers. Insurance Company understands the Fund has adopted policies and procedures reasonably designed to prevent frequent or excessive purchases, exchanges and redemptions of the shares of Portfolios (“disruptive trading”). These policies are disclosed in the Fund’s prospectus. The Fund understands that the Insurance Company on behalf of its Separate Accounts has adopted policies and procedures reasonably designed to detect and deter frequent transfers of Contract value among the subaccounts of the Separate Accounts including those investing in Portfolios available as investment options under the Contracts. These policies and procedures are described in the current prospectuses of the Separate Accounts through which the Contracts are offered. The Fund may consider the Insurance Company’s policies and procedures pertaining to frequent transfers of Contract value among the subaccounts of the Separate Account(s) including those investing in Portfolios when the Fund periodically reviews or amends the Fund’s disruptive trading policies and procedures from time to time. The Fund may invite comment from and confer with Insurance Company regarding any proposed policy and procedure of the Fund pertaining to disruptive trading to determine prior to adopting such proposed policy or procedure the Insurance Company’s then-present ability to apply such proposed policy or procedure to Contractholders who allocate Contract value to subaccounts investing in Portfolios available under the Contracts, including without limitation whether the Insurance Company can apply such proposed policy or procedure without the need to modify its automated data processing systems or to develop and staff manual systems to accommodate the implementation of the Fund’s proposed policy or procedure. The Company will cooperate with the Fund’s reasonable requests in taking steps to deter and detect such transfers by any Contractholder. The Insurance Company will provide promptly upon written request by the Fund, directly or through its designee: • the Taxpayer Identification Number of all Contractholders that purchased, redeemed, transferred, or exchanged units of a subaccount investing in shares of a Portfolio held under a Contract; and, • the amount and dates of such Contractholders purchases, redemptions, transfers and exchanges in subaccounts available under the Contract which invest in shares of any Portfolio. The Insurance Company will execute any instructions from the Fund, directly or through it...