Sale and Redemption of Fund Shares. 1.1. The Underwriter agrees to sell to the Company those shares of the Fund which each Account orders, executing such orders on a daily basis at the net asset value next computed after receipt by the Fund or its designee of the order for the shares of the Fund. For purposes of this Section 1.1. the Company shall be the designee of the Fund for receipt of such orders from each Account and receipt by such designee shall constitute receipt by the Fund; provided that the Fund receives notice of such order on the next following Business Day. "Business Day" shall mean any day on which the New York Stock Exchange is open for trading and on which the Fund calculates its net asset value pursuant to the rules of the Commission.
Appears in 5 contracts
Samples: Participation Agreement (Cigna Variable Products Group), Participation Agreement (Cigna Variable Products Group), Participation Agreement (Cg Corporate Insurance Variable Life Separate Account 2)
