Common use of Purchases and Redemptions of Shares Clause in Contracts

Purchases and Redemptions of Shares. (a) Orders received from Servicer for the purchase of Shares shall be accepted by Distributor through Idex Investor Services, Inc. ("Transfer Agent"), only at the public offering price applicable to each order as set forth in the then current prospectus and statement of additional information (collectively, "Prospectus") of the applicable Fund. The procedure relating to the handling of orders shall be in accordance with oral or written instructions that Distributor, Transfer Agent or the Fund shall forward to Servicer from time to time. Payments for Shares ordered from Distributor must be received together with Servicer's order and shall be made as specified in the applicable Fund's Prospectus. If payment for any purchase order is not received in accordance with the terms of the applicable Fund's Prospectus, Distributor reserves the right, without notice, to cancel the sale and to hold Servicer responsible for any loss sustained as a result thereof. All orders are subject to acceptance or rejection, in their sole discretion, by Distributor, the Fund, or by the Transfer Agent acting on behalf of Distributor and the Fund, and orders shall be effective only upon confirmation by Distributor, the Fund, or the Transfer Agent. Servicer shall place orders for Shares in accordance with the minimum initial and subsequent purchase requirements as set forth in the Prospectus of the Fund. Distributor reserves the right in its discretion and without notice to Servicer to reject any purchase request, suspend sales, or withdraw the offering of Shares. (b) Servicer shall in no event place orders for Shares unless it has already received purchase orders from Investors for such Shares at the applicable public offering price as set forth in the Prospectus of the applicable Fund and subject to the terms thereof. Servicer shall not offer or sell any Shares except under circumstances that will result in compliance with all applicable federal and state securities laws, and that in connection with sales and offers to sell Shares, Servicer shall furnish to each person to whom any such sale or offer is made, at or prior to the time of the offering or sale, a copy of the then current prospectus of the applicable Fund and, if requested, the then current statement of additional information of the Fund. Distributor shall supply Servicer with reasonable quantities of prospectuses, statements of additional information, supplemental sales literature, periodic reports and proxy solicitation materials of the Funds upon request. CHECK SECTION 5(C)(1) OR 5(C)(2), WHICHEVER IS APPLICABLE: (1) Servicer shall make Shares available to Investors on a fully disclosed basis, wherein Distributor shall confirm purchases and redemptions directly to Investors as recordholders of the Shares and the Transfer Agent will maintain records for each such Investor. Servicer shall assist Distributor in obtaining all information Distributor or the Funds may reasonably request in connection with the Investors purchase and redemption of Shares. Servicer hereby represents and warrants that it will have full right, power and authority to effect transactions in Shares of the Funds on behalf of Investors for whom it effects such transactions. or (2) Servicer shall make Shares available to Investors on an "omnibus" basis, wherein Servicer shall be the recordholder of the Shares and will be responsible for subaccounting and the confirmation of purchases and redemptions by the Investors. Each Fund, at the request of regulatory authorities having jurisdiction over it, may request, and in such event, Servicer shall furnish to that Fund, a list of all Shareholders' accounts maintained by Servicer, showing each account name, address and shareholding. Servicer shall provide Distributor or the Fund with such other information as they may reasonably request, including the location by state of Shares sold. All information provided by Servicer to Distributor shall be accurate and complete. Servicer hereby represents and warrants that it will have full right, power and authority to effect transactions in Shares of the Funds on behalf of Investors for whom it effects such transactions. (d) Servicer shall offer and sell Shares only in states and jurisdictions in which the Shares are registered and qualified for sale under, or are exempt from the requirements of, the respective securities laws of such states and jurisdictions. Distributor shall keep Servicer fully informed with respect to the states and jurisdictions so qualified and exempt; however, Distributor assumes no responsibility or obligation as to Servicer's right to make available Shares in any state or jurisdiction. (e) Orders received from Servicer for the redemption of Shares shall be executed through the Transfer Agent only at the public offering price applicable to each order as set forth in the Prospectus of the applicable Fund and subject to the terms thereof. (f) Exchanges (i.e., the investment of the proceeds from the liquidation of the Shares of one Fund in the Shares of another Fund) shall be made by Servicer subject to and in accordance with the Prospectus of the applicable Fund.

Purchases and Redemptions of Shares. (a) Orders received Section 1.3 of this Agreement shall govern and Section 1.4 shall not be operative, unless the Trust receives from Servicer the Company written notice that the Company desires to communicate, process and settle purchases and redemptions for Shares (collectively, “Share transactions”) via the purchase Fund/SERV and Networking systems of Shares the National Securities Clearing Corporation (“NSCC”) (such processing referred to herein as, “NSCC processing”). After giving ten (10) days’ advance written notice of the Company’s desire to use NSCC processing, Section 1.4 of this Agreement shall govern and Section 1.3 shall not be accepted by Distributor through Idex Investor Servicesoperative. (b) At any time when, Inc. pursuant to the preceding paragraph, Section 1.4 of this Agreement governs, any party to this Agreement may send written notice to the other parties that it chooses to end the use of NSCC processing and return to manual handling of Share transactions. After giving ten ("Transfer Agent")10) days’ advance written notice, only at the public offering price applicable to each order as Section 1.3 of this Agreement shall govern and Section 1.4 shall not be operative. (c) The procedures set forth in the then current this Agreement for purchases and redemptions of a Portfolio’s Shares are subject to any additional terms in that Portfolio’s prospectus and statement of additional information (collectively, "Prospectus"“SAI”) and the requirements of the applicable Fundlaw. The procedure relating Notwithstanding anything to the handling contrary in this Agreement, to the extent there is a conflict between the terms of orders shall be in accordance with oral or written instructions that Distributor, Transfer Agent or the Fund shall forward to Servicer from time to time. Payments this Agreement (for Shares ordered from Distributor must be received together with Servicer's order purchases and shall be made as specified in the applicable Fund's Prospectus. If payment for any purchase order is not received in accordance with redemptions of a Portfolio’s Shares) and the terms of the applicable Fund's Prospectus, Distributor reserves the right, without notice, to cancel the sale and to hold Servicer responsible for any loss sustained as a result thereof. All orders are subject to acceptance or rejection, in their sole discretion, by DistributorPortfolio’s prospectus and/or SAI, the Fund, or by the Transfer Agent acting on behalf terms of Distributor and the Fund, and orders this Agreement shall be effective only upon confirmation by Distributor, the Fund, or the Transfer Agent. Servicer shall place orders for Shares in accordance with the minimum initial and subsequent purchase requirements as set forth in the Prospectus of the Fund. Distributor reserves the right in its discretion and without notice to Servicer to reject any purchase request, suspend sales, or withdraw the offering of Shares. (b) Servicer shall in no event place orders for Shares unless it has already received purchase orders from Investors for such Shares at the applicable public offering price as set forth in the Prospectus of the applicable Fund and subject to the terms thereof. Servicer shall not offer or sell any Shares except under circumstances that will result in compliance with all applicable federal and state securities laws, and that in connection with sales and offers to sell Shares, Servicer shall furnish to each person to whom any such sale or offer is made, at or prior to the time of the offering or sale, a copy of the then current prospectus of the applicable Fund and, if requested, the then current statement of additional information of the Fund. Distributor shall supply Servicer with reasonable quantities of prospectuses, statements of additional information, supplemental sales literature, periodic reports and proxy solicitation materials of the Funds upon request. CHECK SECTION 5(C)(1) OR 5(C)(2), WHICHEVER IS APPLICABLE: (1) Servicer shall make Shares available to Investors on a fully disclosed basis, wherein Distributor shall confirm purchases and redemptions directly to Investors as recordholders of the Shares and the Transfer Agent will maintain records for each such Investor. Servicer shall assist Distributor in obtaining all information Distributor or the Funds may reasonably request in connection with the Investors purchase and redemption of Shares. Servicer hereby represents and warrants that it will have full right, power and authority to effect transactions in Shares of the Funds on behalf of Investors for whom it effects such transactions. or (2) Servicer shall make Shares available to Investors on an "omnibus" basis, wherein Servicer shall be the recordholder of the Shares and will be responsible for subaccounting and the confirmation of purchases and redemptions by the Investors. Each Fund, at the request of regulatory authorities having jurisdiction over it, may request, and in such event, Servicer shall furnish to that Fund, a list of all Shareholders' accounts maintained by Servicer, showing each account name, address and shareholding. Servicer shall provide Distributor or the Fund with such other information as they may reasonably request, including the location by state of Shares sold. All information provided by Servicer to Distributor shall be accurate and complete. Servicer hereby represents and warrants that it will have full right, power and authority to effect transactions in Shares of the Funds on behalf of Investors for whom it effects such transactionscontrol. (d) Servicer shall offer and The Trust agrees to sell Shares only in states and jurisdictions in which the Shares are registered and qualified for sale under, or are exempt from the requirements of, the respective securities laws of such states and jurisdictions. Distributor shall keep Servicer fully informed with respect to the states and jurisdictions so qualified and exempt; however, Distributor assumes no responsibility or obligation as to Servicer's right to make available Company those Shares in any state or jurisdiction. (e) Orders received from Servicer for the redemption of Shares shall be executed through the Transfer Agent only at the public offering price applicable to each order as set forth in the Prospectus of the applicable Fund Portfolios which each Account orders (based on orders placed in proper form by Contract owners on that Business Day, as defined below, and subject transmitted to the terms thereof. (f) Exchanges (i.e., the investment of the proceeds from the liquidation of the Shares of one Fund in the Shares of another Fund) shall be made by Servicer subject to and Trust in accordance with the Prospectus provisions of this Agreement), executing such orders on each Business Day at the net asset value (and with no sales charges) next computed after receipt by the Trust or its designee of the order for the Shares of a Portfolio in good form under the terms of the Contract prospectus (including, without limitation, any requirement that certain Contract owner transaction requests under the Contracts be received by the Company no later than a specified cut-off time prior to the end of a Business Day) and prior to the time as of which the applicable FundPortfolio calculates its net asset value, as disclosed in the applicable Portfolio’s Prospectus (“Closing Time”), on that Business Day. For purposes of this Section 1.2 and Section 1.6, the Company will be the designee of the Trust for receipt of orders from each Account with respect to purchase and redemption of Portfolio Shares, and receipt by such designee will constitute receipt by the Trust; provided that the Trust receives notice of such orders by [1:00] a.m. Eastern Time on the next following Business Day (or within [5] hours after the Company receives the applicable Portfolio’s net asset value for such Business Day). “Business Day” shall mean any day on which the New York Stock Exchange is open for trading and on which the Trust calculates its net asset value pursuant to the rules of the SEC and its current prospectus.

Purchases and Redemptions of Shares. (a) Orders received from Servicer for the purchase of Shares shall be accepted by Distributor through Idex Investor Services, Inc. ("Transfer Agent"), only at the public offering price applicable to each order as set forth in the then current prospectus and statement of additional information (collectively, "Prospectus") of the applicable Fund. The procedure relating to the handling of orders shall be in accordance with oral or written instructions that Distributor, Transfer Agent or the Fund shall forward to Servicer from time to time. Payments for Shares ordered from Distributor must be received together with Servicer's order and shall be made as specified in the applicable Fund's Prospectus. If payment for any purchase order is not received in accordance with the terms of the applicable Fund's Prospectus, Distributor reserves the right, without notice, to cancel the sale and to hold Servicer responsible for any loss sustained as a result thereof. All orders are subject to acceptance or rejection, in their sole discretion, by Distributor, the Fund, or by the Transfer Agent acting on behalf of Distributor and the Fund, and orders shall be effective only upon confirmation by Distributor, the Fund, or the Transfer Agent. Servicer shall place orders for Shares in accordance with the minimum initial and subsequent purchase requirements as set forth in the Prospectus of the Fund. Distributor reserves the right in its discretion and without notice to Servicer to reject any purchase request, suspend sales, or withdraw the offering of Shares. (b) Servicer shall in no event place orders for Shares unless it has already received purchase orders from Investors for such Shares at the applicable public offering price as set forth in the Prospectus of the applicable Fund and subject to the terms thereof. Servicer shall not offer or sell any Shares except under circumstances that will result in compliance with all applicable federal and state securities laws, and that in connection with sales and offers to sell Shares, Servicer shall furnish to each person to whom any such sale or offer is made, at or prior to the time of the offering or sale, a copy of the then current prospectus of the applicable Fund and, if requested, the then current statement of additional information of the Fund. Distributor shall supply Servicer with reasonable quantities of prospectuses, statements of additional information, supplemental sales literature, periodic reports and proxy solicitation materials of the Funds upon request. CHECK SECTION 5(C)(1) OR 5(C)(2), WHICHEVER IS APPLICABLE: (1) Servicer shall make Shares available to Investors on a fully disclosed basis, wherein Distributor shall confirm purchases and redemptions directly to Investors as recordholders of the Shares and the Transfer Agent will maintain records for each such Investor. Servicer shall assist Distributor in obtaining all information Distributor or the Funds may reasonably request in connection with the Investors purchase and redemption of Shares. Servicer hereby represents and warrants that it will have full right, power and authority to effect transactions in Shares of the Funds on behalf of Investors for whom it effects such transactions. oror ___ (c) (2) Servicer shall make Shares available to Investors on an "omnibus" basis, wherein Servicer shall be the recordholder of the Shares and will be responsible for subaccounting and the confirmation of purchases and redemptions by the Investors. Each Fund, at the request of regulatory authorities having jurisdiction over it, may request, and in such event, Servicer shall furnish to that Fund, a list of all Shareholders' accounts maintained by Servicer, showing each account name, address and shareholding. Servicer shall provide Distributor or the Fund with such other information as they may reasonably request, including the location by state of Shares sold. All information provided by Servicer to Distributor shall be accurate and complete. Servicer hereby represents and warrants that it will have full right, power and authority to effect transactions in Shares of the Funds on behalf of Investors for whom it effects such transactions. (d) Servicer shall offer and sell Shares only in states and jurisdictions in which the Shares are registered and qualified for sale under, or are exempt from the requirements of, the respective securities laws of such states and jurisdictions. Distributor shall keep Servicer fully informed with respect to the states and jurisdictions so qualified and exempt; however, Distributor assumes no responsibility or obligation as to Servicer's right to make available Shares in any state or jurisdiction. (e) Orders received from Servicer for the redemption of Shares shall be executed through the Transfer Agent only at the public offering price applicable to each order as set forth in the Prospectus of the applicable Fund and subject to the terms thereof. (f) Exchanges (i.e., the investment of the proceeds from the liquidation of the Shares of one Fund in the Shares of another Fund) shall be made by Servicer subject to and in accordance with the Prospectus of the applicable Fund.