Order Placement and Payment Clause Samples
The 'Order Placement and Payment' clause defines the procedures and requirements for submitting orders and making payments under the agreement. It typically outlines how orders must be placed—such as through written purchase orders or an online system—and specifies acceptable payment methods, due dates, and any conditions for payment, like deposits or credit terms. This clause ensures both parties understand the process for initiating transactions and fulfilling financial obligations, thereby reducing the risk of misunderstandings or disputes regarding orders and payments.
Order Placement and Payment. 1. INSURER shall determine the net amount to be transmitted to the Separate Accounts as a result of redemptions of each Portfolio’s shares based on Contract owner redemption requests and shall disburse or credit to the Separate Accounts all proceeds of redemptions of Portfolio shares. INSURER shall notify the Fund of the cash required to meet redemption payments.
2. INSURER shall determine the net amount to be transmitted to the Fund as a result of purchases of Portfolio shares based on Contract owner purchase payments and transfers allocated to the Separate Accounts investing in each Portfolio. INSURER shall transmit net purchase payments to the Fund’s custodian.
Order Placement and Payment. 1. Company shall determine the net amount to be transmitted to the Variable Accounts as a result of redemptions of each Portfolio’s shares based on Contract Owner redemption requests and shall disburse or credit to the Variable Accounts all proceeds of redemptions of Portfolio shares. Company shall notify Ivy Funds VIP of the cash required to meet redemption payments.
2. Company shall determine the net amount to be transmitted to Ivy Funds VIP as a result of purchases of Portfolio shares based on Contract Owner purchase payments and transfers allocated to the Variable Accounts investing in each Portfolio. Company shall transmit net purchase payments to Ivy Funds VIP’s custodian.
Order Placement and Payment. Company shall perform the order placement and payment services as set forth in this Agreement.
Order Placement and Payment. I. INSURER shall determine the net amount to be transmitted to the Separate Accounts as a result of redemptions of each Portfolio’s shares based on Contract owner redemption requests and shall disburse or credit to the Separate Accounts all proceeds of redemptions of Portfolio shares. INSURER shall notify the Fund of the cash required to meet redemption payments.
Order Placement and Payment. 1. Insurer shall determine the net amount to be transmitted to the Separate Accounts as a result of redemptions of each Portfolio’s shares based on Contract owner redemption requests and shall disburse or credit to the Separate Accounts all proceeds of redemptions of Portfolio shares. Insurer shall notify JHVIT of the cash required to meet redemption payments.
2. Insurer shall determine the net amount to be transmitted to JHVIT as a result of purchases of Portfolio shares based on Contract owner purchase payments and transfers allocated to the Separate Accounts investing in each Portfolio. Insurer shall transmit net purchase payments to JHVIT’s custodian.
Order Placement and Payment. 1. Company shall determine the net amount to be transmitted to the Variable Accounts as a result of redemptions of each Portfolio’s shares based on Contract Owner redemption requests and shall disburse or credit to the Variable Accounts all proceeds of redemptions of Portfolio shares. Company shall notify the Fund of the cash required to meet redemption payments.
2. Company shall determine the net amount to be transmitted to the Fund as a result of purchases of Portfolio shares based on Contract Owner purchase payments and transfers allocated to the Variable Accounts investing in each Portfolio. Company shall transmit net purchase payments to the Fund’s custodian.
Order Placement and Payment. The Company shall determine the net amount to be transmitted to the Accounts as a result of redemptions of each Designated Portfolio’s shares based on Contract owner redemption requests and shall disburse or credit to the Accounts all proceeds of redemptions of Designated Portfolio shares. The Company shall notify the Trust of the cash required to meet redemption payments.
Order Placement and Payment. 1. Insurer shall determine the net amount to be transmitted to the Separate Accounts as a result of redemptions of each Portfolio’s shares based on Contract owner redemption requests and shall disburse or credit to the Separate Accounts all proceeds of redemptions of Portfolio shares.
2. Insurer shall determine the net amount to be transmitted to JHVIT as a result of purchases of Portfolio shares based on Contract owner purchase payments and transfers allocated to the Separate Accounts investing in each Portfolio. Insurer shall transmit net purchase payments to JHVIT’s custodian.