Common use of Funds To Remain Available Clause in Contracts

Funds To Remain Available. Notwithstanding any termination of this Agreement, FAIP will, at the option of Company, continue to make available additional shares of the Fund pursuant to the terms and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts"), unless such further sale of shares of the Fund is proscribed by law, regulation of applicable regulating body. Specifically, without limitation, the owners of the Existing Contracts will be permitted to reallocate investments in the Fund, redeem investments in the Fund and/or invest in the Fund upon the making of additional purchase payments under the Existing Contracts. The Parties agree that this Section 6.3 will not apply to any terminations under Section 5 and the effect of such terminations will be governed by Section 5 of this Agreement.

Appears in 12 contracts

Samples: Participation Agreement (First American Insurance Portfolios Inc), Participation Agreement (First American Insurance Portfolios Inc), Participation Agreement (First American Insurance Portfolios Inc)

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Funds To Remain Available. Notwithstanding any termination of this AgreementAgreement by Company, FAIP AVIF will, at the option of Company's option, continue to make available additional shares of the Fund pursuant to the terms and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts"), unless such further sale of shares AIM or the Board determines that doing so would be detrimental to the other shareholders of the Fund is proscribed by law, regulation of affected Funds or would be inconsistent with applicable regulating bodylaw or regulation. Specifically, without limitation, the owners of the Existing Contracts will be permitted to reallocate investments in the FundFund (as in effect on such date), redeem investments in the Fund and/or invest in the Fund upon the making of additional purchase payments under the Existing Contracts. The Parties parties agree that this Section 6.3 will not apply to any (i) terminations under Section 5 and the effect of such terminations will be governed by Section 5 of this Agreement.

Appears in 3 contracts

Samples: Participation Agreement (Aim Variable Insurance Funds), Participation Agreement (Riversource of New York Account 8), Participation Agreement (Aim Variable Insurance Funds)

Funds To Remain Available. Notwithstanding any termination of this Agreement, FAIP PREMIUM FUND will, at the option of CompanyLIFE COMPANY, continue to make available additional shares Shares of the Fund pursuant to the terms and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts"), unless such further sale of shares of the Fund is proscribed by law, regulation of applicable regulating body. Specifically, without limitation, the owners of the Existing Contracts will be permitted to reallocate investments in the FundFund (as in effect on such date), redeem investments in the Fund and/or invest in the Fund upon the making of additional purchase payments under the Existing Contracts. The Parties agree that this Section 6.3 will not apply to any terminations under Section 5 and the effect of such terminations will be governed by Section 5 of this Agreement. This Section 6.3, however, is qualified and limited by Sections 6.5 and 7 below.

Appears in 2 contracts

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

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Funds To Remain Available. Notwithstanding any termination of this Agreement, FAIP will, at the option of Company, continue to make available additional shares of the Fund pursuant to the terms and conditions of this Agreement, for all Contracts in effect on the effective date of termination of this Agreement (hereinafter referred to as "Existing Contracts."), unless such further sale of shares of the Fund is proscribed by law, regulation of applicable regulating body. Specifically, without limitation, the owners of the Existing Contracts will be permitted to reallocate investments in the FundFund (as in effect on such date), redeem investments in the Fund and/or invest in the Fund upon the making of additional purchase payments under the Existing Contracts. The Parties parties agree that this Section 6.3 will not apply to any terminations under Section 5 and the effect of such terminations will be governed by Section 5 of this Agreement.

Appears in 1 contract

Samples: Participation Agreement (First American Insurance Portfolios Inc)

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