POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 126 contracts
Samples: Participation Agreement (Prudential Variable Contract Account Gi-2), Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M), Participation Agreement (Pruco Life Variable Universal Account)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("“contract owners"”) investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 23 contracts
Samples: Participation Agreement (Separate Account a of Pacific Life & Annuity Co), Participation Agreement (Separate Account a of Pacific Life & Annuity Co), Participation Agreement (Separate Account a of Pacific Life Insurance Co)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Each Trust agrees that the its relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the such Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("“contract owners"”) investing in the such Trust. The relevant Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 23 contracts
Samples: Participation Agreement (Aul American Individual Variable Life Unit Trust), Participation Agreement (Protective NY COLI VUL), Participation Agreement (Protective Variable Annuity Separate Account)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Each Trust agrees that the its relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the such Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the such Trust. The relevant Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 14 contracts
Samples: Participation Agreement (Horace Mann Life Insurance Co Separate Account), Fund Participation Agreement (Horace Mann Life Insurance Co Separate Account), Participation Agreement (Principal Life Insurance Co Separate Account B)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Each Trust agrees that the relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the such Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the such Trust. The relevant Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 9 contracts
Samples: Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M), Participation Agreement (Lincoln Life & Annuity Flexible Premium Variable Life Account M), Participation Agreement (Lincoln Life Flexible Premium Variable Life Account M)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the its relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("“contract owners"”) investing in the Trust. The relevant Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 5 contracts
Samples: Participation Agreement (Ml of New York Variable Annuity Separate Account B), Participation Agreement (Ml of New York Variable Life Separate Account), Participation Agreement (Ml of New York Variable Annuity Separate Account A)
POTENTIAL MATERIAL CONFLICTS. 7.1. 7.1 The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 3 contracts
Samples: Participation Agreement (Glenbrook Life Multi-Manager Variable Account), Participation Agreement (Providentmutual Variable Annuity Separate Account), Participation Agreement (Western Southern Life Assurance Co Separate Account 1)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to 'determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 3 contracts
Samples: Participation Agreement (Variable Account D of Union Security Insurance Co), Participation Agreement (Separate Account a of Union Security Life Ins Co of New York), Participation Agreement (Variable Account D of Union Security Insurance Co)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Each Trust agrees that the its relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the such Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the such Trust. The relevant 214110 Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 2 contracts
Samples: Participation Agreement (Allianz Life of Ny Variable Account C), Participation Agreement (Allianz Life Variable Account B)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Each Trust agrees that the relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the such Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("“contract owners"”) investing in the such Trust. The relevant Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 2 contracts
Samples: Participation Agreement (Variable Annuity-2 Series Account), Participation Agreement (Mony America Variable Account L)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy contract owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 2 contracts
Samples: Participation Agreement (Nationwide VL Separate Account-G), Participation Agreement (Nationwide VL Separate Account-G)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners Owners and the variable life insurance policy owners Policy Owners of the Company and/or affiliated companies ("contract ownersOwners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Cuna Mutual Variable Life Insurance Account)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust Tn~s agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or andor affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, : or a majority of the disinterested dismterested trustees of the Board. The Board will give prompt notice of any such determination detemination to the Company.
Appears in 1 contract
Samples: Pkirticipation Agreement (Principal National Life Insurance Co Variable Life Separate Account)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners"') investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Hamilton Alexander Variable Annuity Separate Account)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated or unaffiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Sun Life of Canada U S Variable Account G)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Each Trust agrees that the relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the such Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy Policy owners of the Company and/or affiliated companies ("contract Policy owners") investing in the such Trust. The relevant Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Corporate Sponsored Vul Separate Account I)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees AAREES that the Board, . constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any anv material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners oxvners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, . or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Lincoln Life Variable Annuity Account N)
POTENTIAL MATERIAL CONFLICTS. 7.1. 7.1 The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("“contract owners"”) investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Kansas City Life Variable Life Separate Account)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy Policy owners of the Company company and/or affiliated companies ("“contract owners"”) investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (C M Life Variable Life Separate Account I)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("“contract owners"”) investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination detem1ination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Allstate Life of New York Variable Life Separate Account A)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a -9- 62774 majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Principal Life Insurance Co Variable Life Sep Account)
POTENTIAL MATERIAL CONFLICTS. 7.1. The 7.I. Each Trust agrees that the its relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the such Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the such Trust. The relevant Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Prudential Annuities Life Assurance Corp Variable Account B)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, . constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (American Enterprise Variable Life Account)
POTENTIAL MATERIAL CONFLICTS. 7.17.1 . The Trust agrees that the its relevant Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The relevant Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the relevant Board, or a majority of the disinterested trustees of the relevant Board. The relevant Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Merrill Lynch Life Variable Life Separate Account Ii)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, . constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall xxxxxx have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Partial Termination of Participation Agreement (Metlife Investors Variable Annuity Account One)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or andor affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, : or a majority of the disinterested dismterested trustees of the Board. The Board will give prompt notice of any such determination detemination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Principal Life Insurance Co Separate Account B)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy Policy owners of the Company and/or affiliated companies ("“contract owners"”) investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Massachusetts Mutual Variable Life Separate Account I)
POTENTIAL MATERIAL CONFLICTS. 7.1. The Trust agrees that the Board, constituted with a majority of disinterested trustees, will monitor each Portfolio of the Trust for the existence of any material irreconcilable conflict between the interests of the the. variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies ("contract owners") investing in the Trust. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested trustees of the Board. The Board will give prompt notice of any such determination to the Company.
Appears in 1 contract
Samples: Participation Agreement (Prudential Discovery Select Group Variable Contract Acct)
