SALE OF INVESTMENT COMPANY SHARES. 1.1 The Underwriter agrees to sell to the Company those shares of Investment Company which each Account orders, executing such orders on a daily basis at the net asset value next computed after receipt by the Investment Company or its designee of the order for the shares of the Investment Company. For purposes of this Section 1.1, the Company shall be the designee of the Investment Company for receipt of such orders from each Account and receipt by such designee shall constitute receipt by the Investment Company; provided that the Investment Company receives notice of such order by 8:00 a.m. Pacific time on the next following Business Day. "
Appears in 13 contracts
Samples: Participation Agreement (Cova Variable Annuity Account Five), Participation Agreement (Northwestern Mutual Variable Life Account), Participation Agreement (Northwestern Mutual Variable Life Account)
SALE OF INVESTMENT COMPANY SHARES. 1.1 1.1. The Underwriter agrees to sell to the Company those shares of Investment Company which each Account orders, executing such orders on a daily basis at the net asset value next computed after receipt by the Investment Company or its designee of the order for the shares of the Investment Company. For purposes of this Section 1.1, the Company shall be the designee of the Investment Company for receipt of such orders from each Account and receipt by such designee shall constitute receipt by the Investment Company; provided that the Investment Company receives notice of such order by 8:00 a.m. Pacific time on the next following Business Day. "
Appears in 1 contract
Samples: Security Equity Life Insurance Co Separate Account 13
SALE OF INVESTMENT COMPANY SHARES. 1.1 The Underwriter agrees to sell to the Company those shares of the Investment Company which each Account orders, executing such orders on a daily basis at the net asset value next computed after receipt by the Investment Company or its designee of the order for the shares of the Investment Company. For purposes of this Section 1.1, the Company shall be the designee of the Investment Company for receipt of such orders from each Account and receipt by such designee shall constitute receipt by the Investment Company; provided that the Investment Company receives notice of such order by 8:00 a.m. Pacific time on the next following Business Day. "
Appears in 1 contract
Samples: Participation Agreement (General American Life Insurance Co Sep Acct Eleven)
