Portability of Contract Owner Accounts Sample Clauses

Portability of Contract Owner Accounts. Contract owners who have purchased Contracts from sub-agents of General Agent and/or Selling Broker/Dealer may on occasion request that the Company terminate the agent of record status with respect to General Agent and/or Selling Broker/Dealer. These requests may arise, for example, when a registered representative terminates his or her relationship with Selling Broker/Dealer and registers with a new broker/dealer firm, and a particular Contract owner elects to have that registered representative continue to service the Contract as agent of record. The Company will, subject to certain conditions, agree to such Contract Owner requests to terminate the agent of record status with respect to General Agent and/or Selling Broker/Dealer. Specifically, the Company will agree to implement a Contract owner’s termination and change of general agent or broker/dealer request provided that: (1) any necessary sales agreement is in place among the Company, the Distributor, and the new firm; and (2) the Contract owner makes the request in writing. If the agent of record status is terminated with respect to General Agent and/or Selling Broker/Dealer upon request of a Contract owner, the Company shall pay no further service fees or compensation to General Agent or Selling Broker/Dealer on any Contract Payments for such owner’s Contracts. In addition, the Company may consent to a transfer of Contract owner accounts to a new broker/dealer firm, provided any necessary sales agreement is in place, where: (1) both the Selling Broker/Dealer and the new broker/dealer in a joint writing direct the Company and the Distributor to transfer all Contracts and future compensation related thereto to the new broker/dealer; or (2) FINRA approves and effects a bulk transfer of all representatives to a new broker/dealer firm.
Sample 1
AutoNDA by SimpleDocs
Portability of Contract Owner Accounts. Contract owners who have purchased Plans from representatives of General Agent and/or Selling Broker/Dealer may on occasion request that Sun Life of Canada (U.S.) terminate the agent of record status with respect to General Agent and/or Selling Broker/Dealer. These requests may come to pass, for example, when a registered representative of Selling Broker/Dealer terminates his relationship with that firm, registers with a new broker/dealer firm, and a particular contract owner of a Plan elects to have that representative continue to service the Plan as agent of record. Sun Life of Canada (U.S.) will, subject to certain conditions, accept such requests to terminate the agent of record status with respect to General Agent and/or Selling Broker/Dealer. Specifically, Sun Life of Canada (U.S.) will accept a termination and change of broker/dealer request by a contract owner provided that (1) any necessary sales agreement is in place between Sun Life of Canada (U.S.), Clarendon, and the new broker/dealer firm, and (2) the contract owner makes the request in writing. If the agent of record status is terminated with respect to General Agent and/or Selling Broker/Dealer upon request of a contract owner, no further service fees or compensation on any payments due or received relative to the subject Plans of the contract owner shall be payable to General Agent or Selling Broker/Dealer after the notice of termination is received and accepted by Sun Life of Canada (U.S.). If Sun Life of Canada (U.S.) accepts a contract owner request to designate a new broker/dealer to handle his account, however, service fees or compensation on any payments due or received relative to the subject Plans of the contract owner after the change shall be payable to the new broker/dealer. In addition, Sun Life of Canada (U.S.) may consent to a transfer of contract owner accounts to a new broker/dealer firm, provided any necessary sales agreement is in place, where: (1) both the Selling Broker/Dealer and the new broker/dealer in a joint writing direct Sun Life of Canada (U.S.) and Clarendon to transfer all policies and future compensation related thereto to the new broker/dealer, or (2) the NASD approves and effects a bulk transfer of all representatives to a new broker/dealer firm.
Sample 1

Related to Portability of Contract Owner Accounts

  • Fund-related Contract Owner Services Maintain adequate fidelity bond or similar coverage for all Company officers, employees, investment advisors and other individuals or entities controlled by the Company who deal with the money and/or securities of the Funds. • Provide general information with respect to Fund inquiries (not including information about performance or related to sales). • Provide information regarding performance of the Funds. • Oversee and assist the solicitation, counting and voting of contract owner pass-through voting interests in the Funds pursuant to Fund proxy statements. Other Administrative Support • Provide other administrative and legal compliance support for the Funds as mutually agreed upon by the Company and the Funds or the Fund Administrator. • Relieve the Funds of other usual or incidental administrative services provided to individual contract owners. Schedule B

  • Securities Systems, Interim Subcustodians, Special Subcustodians, Eligible Securities Depositories The Custodian shall not be liable to any Fund for any loss, damage or expense suffered or incurred by such Fund resulting from or occasioned by the actions or omissions of a Securities System, Interim Subcustodian, Special Subcustodian, or Eligible Securities Depository unless such loss, damage or expense is caused by, or results from, the negligence or willful misconduct of the Custodian.

  • Liability of Portfolio Supervisor The Portfolio Supervisor shall be under no liability to the Unit holders for any action taken or for refraining from the taking of any action in good faith pursuant to this Indenture or for errors in judgment, but shall be liable only for its own willful misfeasance, bad faith or gross negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties hereunder."

  • ACCOUNTS SUBJECT TO ERISA The ERISA Rider is applicable to all Customers Under Section II of this Schedule A. T. Rowe Price Trust Company, as Trustee for the Johnson Matthey Salaried Employee Savings Plan Common Trust Funds T. Rowe Price Trust Company, as Trustee for the International Common Trust Fund on behalf of the Underlying Trusts: Emerging Markets Equity Trust Global Proxy Service Rider Foreign Discovery Trust Global Proxy Service Rider Foreign Discovery Trust - B Global Proxy Service Rider India Trust Global Proxy Service Rider International Small-Cap Trust Global Proxy Service Rider Japan Discovery Trust Global Proxy Service Rider Taiwan Trust Global Proxy Service Rider AMENDMENT AGREEMENT The Global Custody Agreement of January 3, 1994, as amended April 18, 1994, August 15, 1994, November 28, 1994, May 31, 1995, November 1, 1995, July 31, 1996, July 23, 1997, September 3, 1997, October 29, 1997, December 15, 1998, October 6, 1999, February 9, 2000, April 19, 2000, July 18, 2000, October 25, 2000 and July 24, 2001 (the “Custody Agreement”) by and between each of the Entities listed in Schedule A, as amended thereto, severally and not jointly (each such entity referred to hereinafter as the “Customer”) and JPMorgan Chase Bank, whose contracts have been assumed by JPMORGAN CHASE BANK (the “Bank”) is hereby further amended, as of April 24, 2002 (the “Amendment Agreement”). Terms defined in the Custody Agreement are used herein as therein defined.

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • RECORDS OF PORTFOLIO SHARE TRANSACTIONS; MISCELLANEOUS RECORDS 1. INSURER shall maintain master accounts with the Fund, on behalf of each Portfolio, which accounts shall bear the name of INSURER as the record owner of Portfolio shares on behalf of each Separate Account investing in the Portfolio.

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • CONTRACTS WITH ELIGIBLE FOREIGN CUSTODIANS The Foreign Custody Manager shall determine that the contract governing the foreign custody arrangements with each Eligible Foreign Custodian selected by the Foreign Custody Manager will satisfy the requirements of Rule 17f-5(c)(2).

  • CONFIDENTIALITY OF TRUST PORTFOLIO HOLDINGS The Subadviser agrees to treat Trust portfolio holdings as confidential information in accordance with the Trust’s “Policy Regarding Disclosure of Portfolio Holdings,” as such policy may be amended from time to time, and to prohibit its employees from trading on any such confidential information.

  • PAYMENT OF PORTFOLIO MONIES Upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall pay out, or direct the respective Foreign Sub-Custodian or the respective Foreign Securities System to pay out, monies of a Portfolio in the following cases only:

Time is Money Join Law Insider Premium to draft better contracts faster.