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.
Appears in 3 contracts
Samples: Administrative Services Agreement (Jefferson National Life Annuity Account G), Administrative Services Agreement (Principal Life Insurance Co Variable Life Sep Account), Administrative Services Agreement (Principal Life Insurance Co Separate Account B)
Order Placement and Payment. I. 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.
Appears in 1 contract
Samples: Administrative Services Agreement (WoodmenLife Variable Annuity Account)
