Funding Mechanics. At the time that any contribution is due under paragraph 3, AIG agrees that it will either (a) make such contribution to the Company's direct parent and cause such direct parent to then contribute such funds, securities or instruments so contributed by AIG to the Company, or (b) make such contribution directly to the Company without receiving any capital stock or other ownership interest in exchange therefor. All contributions contemplated under this Agreement shall be approved and made in compliance with applicable law, including, without limitation, approval by the board of directors of each applicable entity and any prior notice or approval requirements specified under applicable rules and regulations.
Appears in 9 contracts
Samples: Capital Maintenance Agreement (Variable Annuity Life Insurance Co Separate Account A), Capital Maintenance Agreement (Variable Annuity Life Insurance Co Separate Account A), Capital Maintenance Agreement (Usl Separate Account Usl Vl-R)
Funding Mechanics. At the time that any contribution is due under paragraph 3, AIG agrees that it will either (a) make such contribution to the Company's ’s direct parent and cause such direct parent to then contribute such funds, securities or instruments so contributed by AIG to the Company, or (b) make such contribution directly to the Company without receiving any capital stock or other ownership interest in exchange therefor. All contributions contemplated under this Agreement shall be approved and made in compliance with applicable law, including, without limitation, approval by the board of directors of each applicable entity and any prior notice or approval requirements specified under applicable rules and regulations.
Appears in 6 contracts
Samples: Unconditional Capital Maintenance Agreement (Variable Separate Account), Capital Maintenance Agreement (Fs Variable Separate Account), Unconditional Capital Maintenance Agreement (American International Group Inc)
