Sale of ING Variable Insurance Trust. 1.1. The Distributor agrees, subject to the Trust’s rights under Section 1.2 and otherwise under this Agreement, to sell to the Separate Account those Trust shares representing interests in Authorized Funds which each Separate Account orders, executing such orders on a daily basis at the net asset value next computed after receipt by the Trust or its designee of the order for the shares of the Trust. For purposes of this Section 1.1, the Company shall be the designee of the Trust for receipt of such orders from each Separate Account and receipt by such designee shall constitute receipt by the Trust; provided that the Trust receives notice of such order by 7:30 a.m., Eastern Time, on the next following Business Day. “Business Day” shall mean any day on which the New York Stock Exchange (“NYSE”) is open for trading. The initial Authorized Funds are set forth in Schedule B, as such schedule is amended from time to time.
Appears in 6 contracts
Samples: Participation Agreement (Ing Variable Insurance Trust), Participation Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co), Participation Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co)
