Common use of Payment of the Redemption Value Clause in Contracts

Payment of the Redemption Value. (a) Except where MPF in accordance with the provisions of Clause 10.3(b) has agreed to transfer a selection of assets equivalent in value to the redemption value, MPF shall pay the redemption value as calculated in accordance with Clause 10.2 in the Base Currency within two Business Days after the relevant Dealing Day (or within four Business Days after the relevant Dealing Day in the case of an As Of Sub-Fund unless the Redemption Instruction exceeds the As of Sub-Funds Threshold and the Dealing Day is deferred in accordance with Clause 10.1). (b) The Trustee may at its option request that MPF shall pay the redemption value (as calculated in accordance with Clause 10.2) not in the Base Currency but shall transfer to the Trustee a portfolio of assets selected from the relevant Sub-Fund which is equivalent in value to that redemption value. MPF may comply with such request if the Trustee agrees to such terms and conditions in respect of the transfer as MPF may in its absolute discretion determine at that time with a view to ensuring that the transfer shall not result in any material prejudice to the interests of the existing and potential Policyholders. (c) The Base Currency value of the portfolio of assets which is to be transferred in accordance with Clause 10.3(b) is to be calculated in accordance with the provisions of Clause 6.1 as at the relevant Dealing Day. (d) Without prejudice to the application of the Dilution Rate (if any) in accordance with Clause 10.2, the Trustee shall be responsible for all fiscal charges, settlement and other transfer costs and expenses MPF may incur as a result of the payment of a redemption value in any form or forms other than the Base Currency in accordance with this Clause 10.3. (e) MPF is permitted (without any requirement to provide prior notice) to deduct from the redemption value (whether being paid in the Base Currency or in the form of other assets) any Policy Charge or other amount payable by the Trustee to MPF pursuant to the terms of the Policy.

Payment of the Redemption Value. (a) Except where MPF in accordance with the provisions of Clause 10.3(b9.4(b) has agreed to transfer a selection of assets equivalent in value to the redemption value, MPF shall pay the redemption value as calculated in accordance with Clause 10.2 9.3 in the Base Currency within two Business Days after the relevant Dealing Day (or within four Business Days after the relevant Dealing Day in the case of an As Of Sub-Fund unless the Redemption Instruction Retirement Benefit Notice exceeds the As of Sub-Funds Threshold and the Dealing Day is deferred in accordance with Clause 10.19.2). (b) The Trustee may at its option request that MPF shall pay the redemption value (as calculated in accordance with Clause 10.29.3) not in the Base Currency but shall transfer to the Trustee a portfolio of assets selected from the relevant Sub-Fund which is equivalent in value to that redemption value. MPF may comply with such request if the Trustee agrees to such terms and conditions in respect of the transfer as MPF may in its absolute discretion determine at that time with a view to ensuring that the transfer shall not result in any material prejudice to the interests of the existing and potential Policyholders. (c) The Base Currency value of the portfolio of assets which is to be transferred in accordance with Clause 10.3(b9.4(b) is to be calculated in accordance with the provisions of Clause 6.1 as at the relevant Dealing Day. (d) Without prejudice to the application of the Dilution Rate (if any) in accordance with Clause 10.29.3, the Trustee shall be responsible for all fiscal charges, settlement and other transfer costs and expenses MPF may incur as a result of the payment of a redemption value in any form or forms other than the Base Currency in accordance with this Clause 10.39.4. (e) MPF is permitted (without any requirement to provide prior notice) to deduct from the redemption value (whether being paid in the Base Currency or in the form of other assets) any Policy Charge or other amount payable by the Trustee to MPF pursuant to the terms of the Policy.

Payment of the Redemption Value. (a) Except where MPF in accordance with the provisions of Clause 10.3(b9.4(b) has agreed to transfer a selection of assets equivalent in value to the redemption value, MPF shall pay the redemption value as calculated in accordance with Clause 10.2 9.3 in the Base Currency within two Business Days after the relevant Dealing Day (or within four Business Days after the relevant Dealing Day in the case of an As Of Sub-Fund unless the Redemption Instruction Retirement Benefit Notice exceeds the As of Sub-Funds Threshold and the Dealing Day is deferred in accordance with Clause 10.19.2). (b) The Trustee may at its option request that MPF shall pay the redemption value (as calculated in accordance with Clause 10.29.3) not in the Base Currency but shall transfer to the Trustee a portfolio of assets selected from the relevant Sub-Fund which is equivalent in value to that redemption value. MPF may comply with such request if the Trustee agrees to such terms and conditions in respect of the transfer as MPF may in its absolute discretion d iscretion determine at that time with a view to ensuring that the transfer shall not result in any material prejudice to the interests of the existing and potential Policyholders. (c) The Base Currency value of the portfolio of assets which is to be transferred trans ferred in accordance with Clause 10.3(b9.4(b) is to be calculated in accordance with the provisions of Clause 6.1 as at the relevant Dealing Day. (d) Without prejudice to the application of the Dilution Rate (if any) in accordance with Clause 10.29.3, the Trustee shall be responsible for all fiscal charges, settlement and other transfer costs and expenses MPF may incur as a result of the payment of a redemption value in any form or forms other than the Base Currency in accordance with this Clause 10.39.4. (e) MPF is permitted (without any requirement to provide prior notice) to deduct from the redemption value (whether being paid in the Base Currency or in the form of other assets) any Policy Charge or other amount payable by the Trustee to MPF pursuant to the terms of the Policy.

Payment of the Redemption Value. (a) Except where MPF in accordance with the provisions of Clause 10.3(b9.4(b) has agreed to transfer a selection of assets equivalent in value to the redemption value, MPF shall pay the redemption value as calculated in accordance with Clause 10.2 9.3 in the Base Currency within two Business Days after the relevant Dealing Day (or within four Business Days after the relevant Dealing Day in the case of an As Of Sub-Fund unless the Redemption Instruction Retirement Benefit Notice exceeds the As of Sub-Funds Threshold and the Dealing Day is deferred in accordance with Clause 10.19.2). (b) The Trustee may at its option request that MPF shall pay the redemption value (as calculated in accordance with Clause 10.29.3) not in the Base Currency but shall transfer to the Trustee a portfolio of assets selected from the relevant Sub-Fund which is equivalent in value to that redemption value. MPF may comply with such request if the Trustee agrees to such terms and conditions in respect of the transfer as MPF may in its absolute discretion determine at that time with a view to ensuring that the transfer shall not result in any material prejudice to the interests of the existing and potential Policyholders. (c) The Base Currency value of the portfolio of assets which is to be transferred in accordance with Clause 10.3(b9.4(b) is to be calculated in accordance with the provisions of Clause 6.1 as at the relevant Dealing Day. (d) Without prejudice to the application of the Dilution Rate Adjustment or Anti-Dilution Levy (if any, as applicable) in accordance with Clause 10.29.3, the Trustee shall be responsible for all fiscal charges, settlement and other transfer costs and expenses MPF may incur as a result of the payment of a redemption value in any form or forms other than the Base Currency in accordance with this Clause 10.39.4. (e) MPF is permitted (without any requirement to provide prior notice) to deduct from the redemption value (whether being paid in the Base Currency or in the form of other assets) any Policy Charge or other amount payable by the Trustee to MPF pursuant to the terms of the Policy.

Payment of the Redemption Value. (a) Except where MPF in accordance with the provisions of Clause 10.3(b) has agreed to transfer a selection of assets equivalent in value to the redemption value, MPF shall pay the redemption value as calculated in accordance with Clause 10.2 in the Base Currency within two Business Days after the relevant Dealing Day (or within four Business Days after the relevant Dealing Day in the case of an As Of Sub-Fund unless the Redemption Instruction exceeds the As of Sub-Funds Threshold and the Dealing Day is deferred in accordance with Clause 10.1). (b) The Trustee may at its option request that MPF shall pay the redemption value (as calculated in accordance with Clause 10.2) not in the Base Currency but shall transfer to the Trustee a portfolio of assets selected from the relevant Sub-Fund which is equivalent in value to that redemption value. MPF may comply with such request if the Trustee agrees to such terms and conditions in respect of the transfer as MPF may in its absolute discretion determine at that time with a view to ensuring that the transfer shall not result in any material prejudice to the interests of the existing and potential Policyholders. (c) The Base Currency value of the portfolio of assets which is to be transferred in accordance with Clause 10.3(b) is to be calculated in accordance with the provisions of Clause 6.1 as at the relevant Dealing Day. (d) Without prejudice to the application of the Dilution Rate Adjustment or Anti-Dilution Levy (if any, as applicable) in accordance with Clause 10.2, the Trustee shall be responsible for all fiscal charges, settlement and other transfer costs and expenses MPF may incur as a result of the payment of a redemption value in any form or forms other than the Base Currency in accordance with this Clause 10.3. (e) MPF is permitted (without any requirement to provide prior notice) to deduct from the redemption value (whether being paid in the Base Currency or in the form of other assets) any Policy Charge or other amount payable by the Trustee to MPF pursuant to the terms of the Policy.

Payment of the Redemption Value. (a) Except where MPF in accordance with the provisions of Clause 10.3(b9.3(b) has agreed to transfer a selection of assets equivalent in value to the redemption value, MPF shall pay the redemption value as calculated in accordance with Clause 10.2 9.2 in the Base Currency within two Business Days after the relevant Dealing Day (or within four Business Days after the relevant Dealing Day in the case of an As Of Sub-Fund unless the Redemption Instruction exceeds the As of Sub-Funds Threshold and the Dealing Day is deferred in accordance with Clause 10.19.1). (b) The Trustee Insurer may at its option request that MPF shall pay the redemption value (as calculated in accordance with Clause 10.29.2) not in the Base Currency but shall transfer to the Trustee Insurer a portfolio of assets selected from the relevant Sub-Fund which is equivalent in value to that redemption value. MPF may comply with such request if the Trustee Insurer agrees to such terms and conditions in respect of the transfer as MPF may in its absolute discretion determine at that time with a view to ensuring that the transfer shall not result in any material prejudice to the interests of the existing and potential MPF Policyholders. (c) The Base Currency value of the portfolio of assets which is to be transferred in accordance with Clause 10.3(b9.3(b) is to be calculated in accordance with the provisions of Clause 6.1 as at the relevant Dealing Day. (d) Without prejudice to the application of the Dilution Rate Adjustment or Anti-Dilution Levy (if anyany as applicable) in accordance with Clause 10.29.2, the Trustee Insurer shall be responsible for all fiscal charges, settlement and other transfer costs and expenses MPF may incur as a result of the payment of a redemption value in any form or forms other than the Base Currency in accordance with this Clause 10.39.3. (e) MPF is permitted (without any requirement to provide prior notice) to deduct from the redemption value (whether being paid in the Base Currency or in the form of other assets) any Policy Charge or other amount payable by the Trustee Insurer to MPF pursuant to the terms of the PolicyReinsurance Agreement.

Payment of the Redemption Value. (a) Except where MPF in accordance with the provisions of Clause 10.3(b9.3(b) has agreed to transfer a selection of assets equivalent in value to the redemption value, MPF shall pay the redemption value as calculated in accordance with Clause 10.2 9.2 in the Base Currency within two Business Days after the relevant Dealing Day (or within four Business Days after the relevant Dealing Day in the case of an As Of Sub-Fund unless the Redemption Instruction exceeds the As of Sub-Funds Threshold and the Dealing Day is deferred in accordance with Clause 10.19.1). (b) The Trustee Insurer may at its option request that MPF shall pay the redemption value (as calculated in accordance with Clause 10.29.2) not in the Base Currency but shall transfer to the Trustee Insurer a portfolio of assets selected from the relevant Sub-Fund which is equivalent in value to that redemption value. MPF may comply with such request if the Trustee Insurer agrees to such terms and conditions in respect of the transfer as MPF may in its absolute discretion determine at that time with a view to ensuring that the transfer shall not result in any material prejudice to the interests of the existing and potential MPF Policyholders. (c) The Base Currency value of the portfolio of assets which is to be transferred xxxx sferred in accordance with Clause 10.3(b9.3(b) is to be calculated in accordance with the provisions of Clause 6.1 as at the relevant Dealing Day. (d) Without prejudice to the application of the Dilution Rate (if any) in accordance with Clause 10.29.2, the Trustee Insurer shall be responsible for all fiscal charges, settlement and other transfer costs and expenses MPF may incur as a result of the payment of a redemption value in any form or forms other than the Base Currency in accordance with this Clause 10.39.3. (e) MPF is permitted (without any requirement to provide prior notice) to deduct from the redemption value (whether being paid in the Base Currency or in the form of other assets) any Policy Charge or other amount payable by the Trustee Insurer to MPF pursuant to the terms of the PolicyReinsurance Agreement.