Common use of Partial Withdrawal and Liquidation Clause in Contracts

Partial Withdrawal and Liquidation. The Custodian and Sponxxx xxxee that a Planholder who has owned his Plan for at least 45 days may withdraw or liquidate part of the Fund Shares held in his account without terminating his Plan, subject to any applicable Custodian fee set forth in the Prospectus and to the following: a. A Planholder may partially withdraw by directing the Custodian to transfer to his name record ownership of part of the Fund Shares held in his account. Following a partial withdrawal the Planholder may, at any time prior to the termination of his Plan, redeposit the same number of Fund Shares. b. A Planholder may also partially liquidate by directing the Custodian, as his agent, to sell or redeem part of the Fund Shares held in his account and to forward the net proceeds to him. Following a partial liquidation, the Planholder may redeposit an amount equal to the net proceeds and have the Custodian purchase Fund Shares at net asset value as provided in paragraph II(C)(1) below. Cash must be redeposited for cash received on liquidation. c. Exercise of the foregoing privileges is subject to the following conditions: (i) Requests for partial withdrawal or partial liquidation must be delivered in writing to the Custodian. Request for partial withdrawal or portfolio liquidation for amounts of $50,000 or higher must be in writing with the Planholder's signature guaranteed by a member firm of the New York Stock Exchange, a trust company, a national or state bank, a Provxxx Xxxxxxx xx the military installation where the Planholder is located, or any other "eligible guarantor institution" as defined in rules adopted by the SEC ("Approved Guarantor"). (ii) Partial withdrawal or partial liquidation shall not be permitted if it involves less than $100 of net proceeds of sale or more than 90% of the Fund Shares held in the Planholder's account. (iii) The requests for partial withdrawal, partial liquidation and restoration must be in accordance with the rulings or interpretations of the NASD which require that requests meet good faith business or personal needs of the Planholder. The Sponsor further reserves the right to impose such additional restrictions as, in its judgment, are necessary to conform to the requirements of Section 2830 of the Rules of Fair Practice of the NASD. The Custodian has no duty to determine that such rulings, interpretations or restrictions are in compliance with the requirements of the NASD and may rely on the Sponsor. (iv) The restoration of a partial liquidation may not be effected earlier than 90 days following partial liquidation (45 days for IRAs). Where a partial liquidation has been effected through the redemption of Fund Shares by the Custodian, a Planholder may, but is not required to, remit to the Custodian an amount equal to the cash withdrawal which will be used to purchase Fund Shares for the account of the Planholder at the next determined net asset value. Notwithstanding these provisions, a Planholder may make a partial withdrawal and reinvestment of the account in a manner which complies with the rules of the Internal Revenue Code regarding IRA rollovers. All reinvestments must be at least $500 or the unrestored amount of the cash withdrawn, whichever is less. (v) The Sponsor reserves the right to limit the exercise of partial liquidations and restoration to once during a period of a year.

Partial Withdrawal and Liquidation. A Planholder may make a partial cash withdrawal from his or her Plan Account, but only in accordance with the terms and conditions of the applicable Prospectus. The Custodian and Sponxxx xxxee that holder of a Planholder who Plan which has owned his Plan been established for at least 45 days may withdraw or liquidate part of the Fund Shares held in his or her Plan account without terminating his the Plan, subject to any applicable Custodian fee set forth in the Prospectus and to the following: a. A The Planholder making a partial withdrawal of his or her Fund Shares may partially withdraw by directing direct the Custodian to transfer to his name record ownership of part of the Fund Shares held in the Plan Account registered in his or her name to an identically registered Pioneer Independence Fund account. Following a partial withdrawal withdrawal, the Planholder may, at any time prior to the termination of the Plan under which his Planor her Plan Account was established, redeposit the same number of Fund Shares. b. A Planholder may also partially liquidate by directing the Custodian, as his Planholder's agent, to sell or redeem part of the Fund Shares held in his account or her Plan Account and to forward the net proceeds to himthe Plan- holder. Following a partial liquidation, the Planholder may may, at any time prior to the termination of the Plan under which his or her Plan Account was established, redeposit an amount equal to the net proceeds withdrawn and have the Custodian purchase Fund Shares at net asset value for his or her Plan Account as provided in paragraph Section II(C)(1) below. Cash must be redeposited for cash received on liquidation. c. Exercise of . Any such request for a withdrawal received by the foregoing privileges is subject to the following conditions: (i) Requests for partial withdrawal Custodian or partial liquidation must its agent shall be delivered in writing to processed by the Custodian. Request for partial withdrawal or portfolio liquidation for amounts of $50,000 or higher must , and proceeds shall be in writing with the Planholder's signature guaranteed by a member firm of the New York Stock Exchange, a trust company, a national or state bank, a Provxxx Xxxxxxx xx the military installation where the Planholder is located, or any other "eligible guarantor institution" as defined in rules adopted payable by the SEC ("Approved Guarantor"). (ii) Partial withdrawal or partial liquidation shall not be permitted if it involves less than $100 of net proceeds of sale or more than 90% of the Fund Shares held in the Custodian to such Planholder's account. (iii) The requests for partial withdrawal, partial liquidation and restoration must be in accordance with the rulings or interpretations terms and conditions of the NASD which require that requests meet good faith business applicable Prospectus and the 1940 Act. Following a partial cash withdrawal, a Planholder is permitted to exercise a restoration or personal needs of the Planholder. The Sponsor further reserves the right replacement privilege with respect to impose such additional restrictions as, in its judgment, are necessary to conform withdrawal if and to the requirements extent such restoration or replacement is provided for in the applicable Prospectus. Upon receipt by the Custodian or its agent of Section 2830 of any investment identified by the Rules of Fair Practice of the NASD. The Custodian has no duty to determine that such rulings, interpretations Planholder as being a replacement or restrictions are in compliance with the requirements of the NASD and may rely on the Sponsor. (iv) The restoration of a partial liquidation may not be effected earlier than 90 days following partial liquidation (45 days for IRAs). Where a partial liquidation has been effected through the redemption of Fund Shares by the Custodian, a Planholder may, but is not required to, remit to the Custodian an amount equal to the cash withdrawal which will be used to purchase Fund Shares for the account of the Planholder at the next determined net asset value. Notwithstanding these provisions, a Planholder may make a partial withdrawal and reinvestment of the account that is made in a manner which complies accordance with the rules of applicable Prospectus, the Internal Revenue Code regarding IRA rollovers. All reinvestments must be at least $500 or Custodian will process and credit such payment to the unrestored amount of Plan Account in accordance with this Agreement, the cash withdrawnapplicable Prospectus, whichever is lessand the 1940 Act. (v) The Sponsor reserves the right to limit the exercise of partial liquidations and restoration to once during a period of a year.

Partial Withdrawal and Liquidation. A Planholder may make a partial cash withdrawal from his or her Plan Account, but only in accordance with the terms and conditions of the applicable Prospectus. The Custodian and Sponxxx xxxee that holder of a Planholder who Plan which has owned his Plan been established for at least 45 days may withdraw or liquidate part of the Fund Shares held in his account or her Plan Account without terminating his the Plan, subject to any applicable Custodian fee set forth in the Prospectus and to the following: a. A The Planholder making a partial withdrawal of his or her Fund Shares may partially withdraw by directing direct the Custodian to transfer to his name record ownership of part of the Fund Shares held in the Plan Account registered in his or her name to an identically registered Pioneer Independence Fund account. Following a partial withdrawal withdrawal, the Planholder may, at any time prior to the termination of the Plan under which his Planor her Plan Account was established, redeposit the same number of Fund Shares. b. A Planholder may also partially liquidate by directing the Custodian, as his Planholder's agent, to sell or redeem part of the Fund Shares held in his account or her Plan Account and to forward the net proceeds to himthe Planholder. Following a partial liquidation, the Planholder may may, at any time prior to the termination of the Plan under which his or her Plan Account was established, redeposit an amount equal to the net proceeds withdrawn and have the Custodian purchase Fund Shares at net asset value for his or her Plan Account as provided in paragraph Section II(C)(1) below. Cash must be redeposited for cash received on liquidation. c. Exercise of . Any such request for a withdrawal received by the foregoing privileges is subject to the following conditions: (i) Requests for partial withdrawal Custodian or partial liquidation must its agent shall be delivered in writing to processed by the Custodian. Request for partial withdrawal or portfolio liquidation for amounts of $50,000 or higher must , and proceeds shall be in writing with the Planholder's signature guaranteed by a member firm of the New York Stock Exchange, a trust company, a national or state bank, a Provxxx Xxxxxxx xx the military installation where the Planholder is located, or any other "eligible guarantor institution" as defined in rules adopted payable by the SEC ("Approved Guarantor"). (ii) Partial withdrawal or partial liquidation shall not be permitted if it involves less than $100 of net proceeds of sale or more than 90% of the Fund Shares held in the Custodian to such Planholder's account. (iii) The requests for partial withdrawal, partial liquidation and restoration must be in accordance with the rulings or interpretations terms and conditions of the NASD which require that requests meet good faith business applicable Prospectus and the 1940 Act. Following a partial cash withdrawal, a Planholder is permitted to exercise a restoration or personal needs of the Planholder. The Sponsor further reserves the right replacement privilege with respect to impose such additional restrictions as, in its judgment, are necessary to conform withdrawal if and to the requirements extent such restoration or replacement is provided for in the applicable Prospectus. Upon receipt by the Custodian or its agent of Section 2830 of any investment identified by the Rules of Fair Practice of the NASD. The Custodian has no duty to determine that such rulings, interpretations Planholder as being a replacement or restrictions are in compliance with the requirements of the NASD and may rely on the Sponsor. (iv) The restoration of a partial liquidation may not be effected earlier than 90 days following partial liquidation (45 days for IRAs). Where a partial liquidation has been effected through the redemption of Fund Shares by the Custodian, a Planholder may, but is not required to, remit to the Custodian an amount equal to the cash withdrawal which will be used to purchase Fund Shares for the account of the Planholder at the next determined net asset value. Notwithstanding these provisions, a Planholder may make a partial withdrawal and reinvestment of the account that is made in a manner which complies accordance with the rules of applicable Prospectus, the Internal Revenue Code regarding IRA rollovers. All reinvestments must be at least $500 or Custodian will process and credit such payment to the unrestored amount of Plan Account in accordance with this Agreement, the cash withdrawnapplicable Prospectus, whichever is lessand the 1940 Act. (v) The Sponsor reserves the right to limit the exercise of partial liquidations and restoration to once during a period of a year.