Common use of Request for reports Clause in Contracts

Request for reports. In order for the Board of Trustees of TVST to monitor for potential conflicts, it will request such reports, materials and data as it deems necessary from life insurance companies whose VA Separate Accounts and VLI Separate Accounts invest in any Fund of TVST. The Board of Trustees of TVST will request that each participating life insurance company submit an annual report describing any potential or existing conflict among the interests of the variable annuity contract owners and the scheduled or flexible premium life insurance policyholders that invest in any Fund in TVST. In addition, the Board will request that each participating insurance company submit a similar report if, at any time during the year, the insurance company perceives any potential or existing conflict among the contract owners and policyholders that invest in any Fund in TVST. The Board of Trustees of TVST will request that each participating insurance company report on any potential or existing conflict based on (1) the reasons list above or (2) any other reason discovered by the insurance company that creates or could potentially create a conflict.