Common use of Purchase of Shares from the Company Clause in Contracts

Purchase of Shares from the Company. (a) The Company will offer its Shares and the Distributor shall have the right to buy from the Company the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for the Shares placed with the Distributor by the Insurance Companies for their Separate Accounts. The price which the Distributor shall pay for the Shares so purchased from the Company shall be the net asset value per share, determined as set forth in Section 3(c) hereof.

Purchase of Shares from the Company. (a) The Company will offer its Shares and the Distributor shall have the right to buy from the Company the Shares needed, but not more than the Shares needed (except for clerical errors in transmission) to fill unconditional orders for the Shares placed with the Distributor by the Participating Insurance Companies for their Separate Accounts. The price which the Distributor shall pay for the Shares so purchased from the Company shall be the net asset value per share, determined as set forth in Section 3(c) hereof.