Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule B, subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended. 6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter. (a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and (b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company. 6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares: (i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds; (ii) Assisting in printing and distributing shareholder reports and prospectuses provided by the Underwriter; (iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records; (iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds; (v) Assisting in processing purchasing purchase and redemption transactions; and (vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. 6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate. 6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund. 6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter. 6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 6 contracts
Samples: Participation Agreement (Lincoln New York Account N for Variable Annuities), Participation Agreement (Lincoln New York Account N for Variable Annuities), Participation Agreement (Lincoln New York Account N for Variable Annuities)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the The Underwriter shall pay such the Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time time, and hereby waives the right understands and agrees that it will cease to receive such service fee Service Fee payments with respect to the a Fund if the Fund ceases to pay 12b-1 fees to the UnderwriterUnderwriter pursuant to its Distribution Plan.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the amount of Service Fees or the terms on which Service Fees are paid or to terminate further payments of the Service Fee payments with 90 days prior Fees upon written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in the process of printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor Contract owner and shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing and servicing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with performance under the service requirement set forth in this Agreement will be evaluated from time to time by the Underwriter's monitoring of redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 5 contracts
Samples: Participation Agreement (Allstate Life Insurance Co Separate Account A), Participation Agreement (Allstate Life Insurance Co Separate Account A), Participation Agreement (Allstate Life of New York Separate Account A)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 5 contracts
Samples: Participation Agreement (Glenbrook Life Multi-Manager Variable Account), Participation Agreement (Glenbrook Life Multi-Manager Variable Account), Participation Agreement (Lincoln Benefit Life Variable Annuity Account)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 5 contracts
Samples: Participation Agreement (Columbus Life Separate Account 1), Participation Agreement (First Citicorp Life Variable Annuity Separate Account), Participation Agreement (Citicorp Life Variable Annuity Separate Account)
Service Fees. 6.1 So 7.1 With respect to any Account investing in Class I-B shares, so long as the Company creating such Account complies with its obligations in this Article VIVII, the Underwriter shall pay such Company a quarterly service fee (the "Service Fee") on shares of the Funds held in the Accounts such Account at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 7.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The 7.2 Each Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives waive the right to receive such service fee payments with respect to the a Fund if the such Fund ceases to pay 12b-1 fees to the Underwriter.;
(a) The a Company's failure to provide the services described in Section 6.4 7.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the CompanyCompanies, amend this Article VI VII to change the terms of the Service Fee payments with 90 days prior written notice to the CompanyCompanies; provided that the Underwriter may not change such terms with respect to the Companies unless such changes are applied to the payment of Service Fees generally or if a Company has not fulfilled its obligations hereunder.
6.4 The 7.4 Each Company receiving Service Fees will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. Each Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by the Underwriter's wholesalers.
6.5 The 7.5 Each Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Class I-B Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 7.6 The provisions of this Article VI VII shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI VII may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 7.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company Companies under this Article VI VII and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 4 contracts
Samples: Master Participation Agreement (Talcott Resolution Life & Annuity Insur Co Separate Account Three), Master Participation Agreement (Talcott Resolution Life & Annuity Insurance Co Separate Account Seven), Master Participation Agreement (Talcott Resolution Life Insurance Co Separate Account Ten)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule B, subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports and prospectuses provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 4 contracts
Samples: Participation Agreement (Lincoln Life Variable Annuity Account W), Participation Agreement (Lincoln Life Variable Annuity Account W), Participation Agreement (Lincoln Life Flexible Premium Variable Life Account M)
Service Fees. 6.1 So 7.1 With respect to any Account investing in Class I-B shares, so long as the Company creating such Account complies with its obligations in this Article VIVII, the Underwriter shall pay such Company a quarterly service fee (the "Service Fee") on shares of the Funds held in the Accounts such Account at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 7.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The 7.2 Each Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives waive the right to receive such service fee payments with respect to the a Fund if the such Fund ceases to pay 12b-1 fees to the Underwriter.;
(a) The a Company's failure to provide the services described in Section 6.4 7.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the CompanyCompanies, amend this Article VI VII to change the terms of the Service Fee payments with 90 days prior written notice to the CompanyCompanies; provided that the Underwriter may not change such terms with respect to the Companies unless such changes are applied to the payment of Service Fees generally or if a Company has not fulfilled its obligations hereunder.
6.4 The 7.4 Each Company receiving Service Fees will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. Each Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by the Underwriter's wholesalers.
6.5 The 7.5 Each Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Class I-B Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 7.6 The provisions of this Article VI VII shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI VII may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 7.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company Companies under this Article VI VII and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 3 contracts
Samples: Master Participation Agreement (Hartford Life Insurance Co Separate Account Three), Master Participation Agreement (Hartford Life Insurance Co Separate Account Vl Ii), Master Participation Agreement (Hartford Life Insurance Co Separate Account Two Dc Var Ac Ii)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 3 contracts
Samples: Participation Agreement (Variable Annuity-2 Series Account of Great-West Life & Annuity Ins. Co.), Participation Agreement (KILICO Variable Annuity Separate Account - 3), Participation Agreement (KILICO Variable Annuity Separate Account - 3)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) 6.3 The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The As permitted by law, the Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 2 contracts
Samples: Participation Agreement (Delaware Life Variable Account F), Participation Agreement (Sun Life of Canada (US) Variable Account K)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 2 contracts
Samples: Participation Agreement (Lincoln Life Variable Annuity Account W), Participation Agreement (Lincoln Life Varibale Annuity Account Q)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 2 contracts
Samples: Participation Agreement (Separate Account B of Golden American Life Insurance Co), Participation Agreement (Separate Account I of National Integrity Life Ins Co)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee Service Fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, Prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 2 contracts
Samples: Participation Agreement (MEMBERS Horizon Variable Separate Account), Participation Agreement (Putnam Variable Trust)
Service Fees. 6.1 So long as the Company complies Companies comply with its each Company's obligations in this Article VI, the Underwriter underwriter shall pay such Company Companies a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding accounts for the Companies' own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands Companies understand and agrees agree that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's Companies' failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it them ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the CompanyCompanies, amend this Article VI to change the terms of the Service Fee payments with 90 at least thirty (30) days prior written notice to the CompanyCompanies.
6.4 The Company Companies will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Companies will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Companies' offices by representatives of the Underwriter.
6.5 The Company's Companies' compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company Companies under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 2 contracts
Samples: Participation Agreement (Security Life Separate Account L1), Participation Agreement (Security Life Separate Account L1)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee Service Fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 2 contracts
Samples: Participation Agreement (Protective NY COLI VUL), Participation Agreement (Thrivent Variable Annuity Account I)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee Service Fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the CompanyCompany if such action is required by law or by regulatory authorities having jurisdiction or if, in the sole discretion of the Board of Trustees of the Trust acting in good faith and in light of their fiduciary duties under federal and any applicable state laws, determine it is necessary and in the best interests of the shareholders of such Funds.
6.4 The Company will provide the following administrative services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes Notwithstanding the termination of computing this Agreement, the Underwriter will continue to pay the Service Fees in accordance with this Article VI as long as assets of the Accounts remain in a Fund, provided that: (a) such continued payment to Company contemplated is permitted under applicable law and regulation; (b) the continuance of the agreement constituted by this Section 66.8 and such other provisions of the Agreement as survive the termination of this Agreement (collectively the “Continuing Agreement”), including Section 6.4, is approved annually by the average aggregate net asset value of shares Trustees of the Trust held who are not interested persons of the Trust and have no direct or indirect interest in the continuance of such payment (“Independent Trustees”); (c) any reports required by Rule 12b-1(b)(3)(ii) under the Accounts over 1940 Act relating to the Continuing Agreement are made in accordance therewith; (d) the Continuing Agreement terminates automatically in the event of its assignment; (e) the Continuing Agreement may be terminated at any time by a one-month period shall be computed by totaling each Account's aggregate investment vote of the majority of Independent Trustees; and (share net asset value multiplied by total number f) the Company continues to provide the services described in Section 6.4 of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such monthAgreement. The payment shall be calculated by Trust at the end of each calendar quarter and Underwriter will be paid promptly provide written notice to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing Principal Executive Officer and the calculation Treasurer of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves upon termination of this Agreement or the right to audit the calculations made by TrustContinuing Agreement.
Appears in 2 contracts
Samples: Participation Agreement (SBL Variable Annuity Account Xiv), Participation Agreement (Variable Annuity Account A)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 12b-l fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Principal Life Insurance Co Variable Life Sep Account)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee Service Fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 6.6 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Forethought Life Insurance Co Separate Account A)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives time. Company acknowledges that if the Trust’s Board of Trustees approves the cancellation, termination or modification of the Trust’s 12b-l Plan, resulting in the non-payment or reduced payment of fees thereunder, Company agrees to waive its right to receive compensation until such service fee payments with respect to the Fund time, if the Fund ceases to pay 12b-1 fees to the Underwriterever, that Underwriter receives such payment.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the CompanyCompany in conformity with any modification of the Trust’s 12b-1 Plan approved by the Trust’s Board of Trustees.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.[Reserved]
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 12b-l under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Separate Account No. 70 of AXA Equitable Life Insurance Co)
Service Fees. 6.1 (a) So long as the Company complies with its obligations in this Article VIAmendment, the Underwriter shall pay such the Company a service fee (the "Service Fee") on class lB shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 1(b) hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 (b) The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fundthe Trust's Distribution PlanPlans, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund series funds of the Trust (each a "Fund") if the Fund ceases to pay 12b-1 fees to the Underwriter.
(ac) The Company's failure to provide the services described in Section 6.4 1(e) or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(bd) the The Underwriter may, without the consent of the Company, amend this Article VI Section 1 to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 (e) The Company will provide the following services to the Contract Owners purchasing Fund Trust shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 (f) The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 (g) The provisions of this Article VI Section 1 shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance of the Trust's Distribution Plan is specifically approved at least annually by the Trustees of the Trust in conformity with Rule 12b-1. 12b-l. This Article VI Section 1 shall automatically terminate in the event of this Agreement' the assignment (as defined by the Investment Company Act of 1940 (the "1940 Act")) of the Agreement. In addition, the provision of this Article VI Section 1 may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 12b-l under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 (h) The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI Section 1 and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (First Metlife Investors Variable Annuity Account One)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee Service Fee payments with respect to the Fund if the Fund ceases to pay 12b-1 12b-l fees to the Underwriter.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) except under the circumstances outlined in Article 6.2 above, the Underwriter maymay not, without the prior written consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. 12b- l. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 l 2b- l under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Guardian Separate Acct N of the Guardian Ins & Annuity Co)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule Beach Fund’s prospectus (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of Schedule B includes the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any current Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amendedFee rates.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee Service Fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter. If the Service Fee is no longer effective, the rate is reduced or modified, or is no longer applicable to the Portfolios the Underwriter shall provide the Company with at least thirty (30) days’ prior written notice.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the The Underwriter may, may without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments payments, in accordance with 90 days the Fund’s Distribution Plan, with prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other reasonable methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Nyliac Variable Annuity Separate Account Iii)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which . Such plan may be varied amended or discontinued at any time and hereby waives the right to receive Company acknowledges that Service Fee payments may be reduced or eliminated in such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriteran event.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable request for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance compliances with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Service Fees. 6.1 (a) So long as the Company complies with its obligations in this Article VIAmendment, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on class IB shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 l(b) hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 (b) The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's the Trust’s Distribution PlanPlans, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund series funds of the Trust (each a “Fund”) if the Fund ceases to pay 12b-1 12b-l fees to the Underwriter.
(ac) The Company's ’s failure to provide the services described in Section 6.4 l(e) or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(bd) the Underwriter may, without the consent of the Company, amend this Article VI Section 1 to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 (e) The Company will provide the following services to the Contract Owners purchasing Fund Trust shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 (f) The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 (g) The provisions of this Article VI Section 1 shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance of the Trust’s Distribution Plan is specifically approved at least annually by the Trustees of the Trust in conformity with Rule 12b-1. 12b-l. This Article VI Section 1 shall automatically terminate in the event of this Agreement' the assignment (as defined by the Investment Company Act of 1940 (the “1940 Act”)) of the Agreement. In addition, the provision of this Article VI Section 1 may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 12b-l under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 (h) The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI Section 1 and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Metlife Investors Variable Annuity Account Five)
Service Fees. 6.1 So long as With respect to any investment in Class 1B Shares of the Authorized Funds:
a) Provided the Company complies with its obligations in this Article VIunder the Agreement, the Underwriter shall Distributor will pay such the Company a service fee (the "Service Fee") on Class 1B shares of the Authorized Funds held in the Accounts Account at the annual rates specified in Schedule B, subject to Section 6.2 hereofrate of 0. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended15% per annum.
6.2 b) The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Authorized Fund's Distribution Plan, which may be varied or discontinued at any time time, and hereby waives the right understands and agrees that it will cease to receive such service fee payments Service Fee Payments with respect to the an Authorized Fund if the Authorized Fund ceases to pay 12b-1 fees to the UnderwriterDistributor pursuant to its Distribution Plan.
(ac) The Company's failure to provide the services described in Section 6.4 2(e) below or otherwise to comply with the terms of this the Agreement will render it ineligible to receive Service Fees; and.
(bd) the Underwriter The Distributor may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice Section 2, provided that such amendment reflects the Distributor's policy to all holders of Class 1B shares and is not directed solely at the Company.
6.4 e) The Company will provide the following services to Contract owners who allocate purchase payments to subaccounts of the Contract Owners purchasing Fund sharesAccount investing in the Authorized Funds:
(i) Maintaining Maintain regular contact with Contract owners and assisting assist in answering inquiries concerning the Authorized Funds;
(ii) Assisting Assist in printing and and/or distributing shareholder reports reports, prospectuses, service literature and prospectuses sales literature or other promotional materials provided by the UnderwriterDistributor;
(iii) Assisting Assist the Underwriter Distributor and its affiliates in the establishment and maintenance of investor Contract owner and shareholder accounts and records;
(iv) Assisting Assist Contract owners in effecting administrative changes, such as exchanging shares in into or out of the subaccounts of the Account investing in shares of the Authorized Funds;
(v) Assisting Assist in processing purchasing purchase and redemption transactions; and
(vi) Providing Provide any other information or services as the Contract owners or of the Underwriter Distributor may reasonably request. The Company will support the Distributor's marketing and servicing efforts for granting reasonable requests for visits to the Company's offices by representatives of the Distributor.
6.5 f) The Company's compliance with the service requirement set forth in this Agreement Amendment 3 will be evaluated from time to time by the Distributor's monitoring of redemption levels of Authorized Fund shares held in any the Account and by such other methods as the Underwriter Distributor deems appropriate.
6.6 g) The provisions of this Article VI Section 2 shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI Section 2 may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Select Life Variable Account)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule B, subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports and prospectuses provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Lincoln Life Variable Annuity Account N)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee Service Fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(ia) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(iib) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iiic) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(ivd) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(ve) Assisting in processing purchasing purchase and redemption transactions; and
(vif) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter’s marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Principal National Life Insurance Co Variable Life Separate Account)
Service Fees. 6.1 So long as With respect to any investment in Class IB Shares of the Authorized Funds:
a) Provided the Company complies with its obligations in this Article VIunder the Agreement, the Underwriter shall Distributor will pay such the Company a service fee (the "Service Fee") on Class IB shares of the Authorized Funds held in the Accounts Account at the annual rates specified in Schedule B, subject to Section 6.2 hereof. In this Article VI only, use rate of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended0.15% per annum.
6.2 b) The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Authorized Fund's Distribution Plan, which may be varied or discontinued at any time time, and hereby waives the right understands and agrees that it will cease to receive such service fee payments Service Fee Payments with respect to the an Authorized Fund if the Authorized Fund ceases to pay 12b-1 fees to the UnderwriterDistributor pursuant to its Distribution Plan.
(ac) The Company's failure to provide the services described in Section 6.4 2(e) below or otherwise to comply with the terms of this the Agreement will render it ineligible to receive Service Fees; and.
(bd) the Underwriter The Distributor may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice Section 2, provided that such amendment reflects the Distributor's policy to all holders of Class IB shares and is not directed solely at the Company.
6.4 e) The Company will provide the following services to Contract owners who allocate purchase payments to subaccounts of the Contract Owners purchasing Fund sharesAccount investing in the Authorized Funds:
(i) Maintaining Maintain regular contact with Contract owners and assisting assist in answering inquiries concerning the Authorized Funds;
(ii) Assisting Assist in printing and and/or distributing shareholder reports reports, prospectuses, service literature and prospectuses sales literature or other promotional materials provided by the UnderwriterDistributor;
(iii) Assisting Assist the Underwriter Distributor and its affiliates in the establishment and maintenance of investor Contract owner and shareholder accounts and records;
(iv) Assisting Assist Contract owners in effecting administrative changes, such as exchanging shares in into or out of the subaccounts of the Account investing in shares of the Authorized Funds;
(v) Assisting Assist in processing purchasing purchase and redemption transactions; and
(vi) Providing Provide any other information or services as the Contract owners or of the Underwriter Distributor may reasonably request. The Company will support the Distributor's marketing and servicing efforts for granting reasonable requests for visits to the Company's offices by representatives of the Distributor.
6.5 f) The Company's compliance with the service requirement set forth in this Agreement Amendment 3 will be evaluated from time to time by the Distributor's monitoring of redemption levels of Authorized Fund shares held in any the Account and by such other methods as the Underwriter Distributor deems appropriate.
6.6 g) The provisions of this Article VI Section 2 shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI Section 2 may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Select Life Variable Account)
Service Fees. 6.1 (a) So long as the Company complies with its obligations in this Article VIAmendment, the Underwriter shall pay such the Company a service fee (the "Service Fee") on class IB shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 1(b) hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 (b) The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fundthe Trust's Distribution PlanPlans, which may be varied or discontinued at any time and arid hereby waives the right to receive such service fee payments with respect to the Fund series funds of the Trust (each a "Fund") if the Fund ceases to pay 12b-1 fees to the Underwriter.
(ac) The Company's failure to provide the services described in Section 6.4 1(e) or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(bd) the Underwriter may, without the consent of the Company, amend this Article VI Section 1 to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 (e) The Company will provide the following services to the Contract Owners purchasing Fund Trust shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 (f) The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 (g) The provisions of this Article VI Section 1 shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance of the Trust's Distribution Plan is specifically approved at least annually by the Trustees of the Trust in conformity with Rule 12b-1. This Article VI Section 1 shall automatically terminate in the event of this Agreement' the assignment (as defined by the Investment Company Act of 1940 (the "1940 Act")) of the Agreement. In addition, the provision of this Article VI Section 1 may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting Voting securities of any Fund.
6.7 (h) The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI Section 1 and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (First Metlife Investors Variable Annuity Account One)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the The Underwriter shall pay such the Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Service Plan, which may be varied or discontinued at any time time, and hereby waives the right understands and agrees that it will cease to receive such service fee Service Fee payments with respect to the a Fund if the Fund ceases to pay 12b-1 fees to the UnderwriterUnderwriter pursuant to its Service Plan.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the amount of Service Fees or the terms on which Service Fees are paid or to terminate further payments of the Service Fee payments with 90 days prior Fees upon written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in the process of printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor Contract owner and shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing and servicing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with performance under the service requirement set forth in this Agreement will be evaluated from time to time by the Underwriter's monitoring of redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Eaton Vance Variable Trust)
Service Fees. 6.1 (a) So long as the Company complies with its obligations in this Article VIAmendment, the Underwriter shall pay such the Company a service fee (the "Service Fee") on class IB shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 l(b) hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 (b) The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fundthe Trust's Distribution PlanPlans, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund series funds of the Trust (each a "Fund") if the Fund ceases to pay 12b-1 12b-l fees to the Underwriter.
(ac) The Company's failure to provide the services described in Section 6.4 l(e) or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(bd) the Underwriter may, without the consent of the Company, amend this Article VI Section 1 to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 (e) The Company will provide the following services to the Contract Owners purchasing Fund Trust shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 (f) The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 (g) The provisions of this Article VI Section 1 shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance of the Trust's Distribution Plan is specifically approved at least annually by the Trustees in of the Trust it & conformity with Rule 12b-1. 12b-l. This Article VI Section 1 shall automatically terminate in the event of this Agreement' the assignment (as defined by the Investment Company Act of 1940 (the "1940 Act")) of the Agreement. In Fn addition, the provision of this Article VI Section 1 may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 12b-l under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 (h) The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI Section 1 and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Metlife Investors Variable Annuity Account One)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Jefferson National Life Annuity Account G)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such Company a service fee (the "“Service Fee"”) on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company’s own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only.
6.2 The Service Fees will be paid to the Company, use or its designee, by electronic funds transfer as soon as practicable, but no later than 30 days after the end of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporationperiod in which they were earned. The Company represents and warrants that any Service Fees will be paid on a quarterly basis. The Service Fee payment will be accompanied or preceded by a statement showing the calculation of the amounts being paid by Underwriter for the relevant period and such other supporting data as may be reasonably requested by the Company.
6.3 The Service Fee shall be calculated as an annualized percentage of the average aggregate amount invested in the Funds for the applicable period. The average aggregate amount shall be computed in accordance with the prospectus and governing instruments of the Trust.
6.4 The parties agree that a Service Fee will be paid to the Company or its designee according to this Agreement with respect to each Fund as long as shares of such Fund are held by the Company's own retirement plans Company or an affiliate/subsidiary of the Company on behalf of the beneficial owner of contracts issued by the Company affiliate/subsidiary. This provision will be used in compliance with survive the Employee Retirement Income Security Act termination of 1974, as amendedthis Agreement.
6.2 6.5 The Company and Underwriter agree that the Service Fees described in this Agreement are for administrative and distribution services of the Funds only, and do not constitute payment in any manner for investment advisory services for the Fund or for costs of administrative and distribution services on behalf of the Contracts.
6.6 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's ’s Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's ’s failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the The Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments that are paid pursuant to the Funds’ 12b-1 plan with 90 days prior written notice to the CompanyCompany so long as such amendment applies to all insurance companies receiving Service Fees and is not diverted at the Insurance Subsidiaries.
6.4 6.8 The Company will provide the following services to the Contract Owners purchasing Fund sharesShares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriters’ marketing efforts by granting reasonable requests for visits to the Company’s offices by representatives of the Underwriter.
6.5 6.9 The Company's ’s compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 6.10 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI the payment of Service Fees attributable to the Fund’s 12b-1 plan may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party part upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 6.11 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Nationwide Vli Separate Account 4)
Service Fees. 6.1 So long as Provided the Company complies with its obligations in under this Article VIAgreement, the Underwriter shall pay such the Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time time, and hereby waives the right understands and agrees that it will cease to receive such service fee Service Fee payments with respect to the a Fund if the Fund ceases to pay 12b-1 fees to the UnderwriterUnderwriter pursuant to its Distribution Plan.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise to comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the amount of Service Fees or the terms on which Service Fees are paid or to terminate further payments of the Service Fee payments with 90 days prior Fees upon written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor Contract owner and shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing and servicing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by the Underwriter's monitoring of redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (American General Life Insurance Co Separate Account Vl R)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such the Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. 12b-l. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Metlife Investors Usa Separate Account A)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 12b-l fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter UnderWriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one 'year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. Rule12b-l. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 12b-l under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Metlife of Ct Fund Ul Iii for Variable Life Insurance)
Service Fees. 6.1 (a) So long as the Company complies with its obligations in this Article VIAmendment, the Underwriter shall pay such the Company a service fee (the "Service Fee") on class IB shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 1(b) hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 (b) The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fundthe Trust's Distribution PlanPlans, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund series xxxxx of the Trust (each a "Fund") if the Fund ceases to pay 12b-1 12b-l fees to the Underwriter.
(ac) The Company's failure to provide the services described in Section 6.4 1(e) or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(bd) the Underwriter may, without the consent of the Company, amend this Article VI Section 1 to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 (e) The Company will provide the following services to the Contract Owners purchasing Fund Trust shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 (f) The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 (g) The provisions of this Article VI Section 1 shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance of the Trust's Distribution Plan is specifically approved at least annually by the Trustees of the Trust in conformity with Rule 12b-1. 12b-l. This Article VI Section 1 shall automatically terminate in the event of this Agreement' the assignment (as defined by the Investment Company Act of 1940 (the "1940 Act")) of the Agreement. In addition, the provision of this Article VI Section 1 may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 (h) The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI Section 1 and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (First Metlife Investors Variable Annuity Account One)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the The Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the CompanyCompany so long as such change applies generally to all parties receiving Service Fees with respect to the Trust.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI Agreement shall automatically terminate in the event of this Agreement' its assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Separate Account B of Golden American Life Insurance Co)
Service Fees. 6.1 (a) So long as the Company complies with its obligations in this Article VIAmendment, the Underwriter shall pay such the Company a service fee (the "Service Fee") on class IB shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 l(b) hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 (b) The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fundthe Trust's Distribution PlanPlans, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund series funds of the Trust (each a "Fund") if the Fund ceases to pay 12b-1 12b-l fees to the Underwriter.
(ac) The Company's failure to provide the services described in Section 6.4 l(e) or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(bd) the Underwriter may, without the consent of the Company, amend this Article VI Section 1 to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 (e) The Company will provide the following services to the Contract Owners purchasing Fund Trust shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 (f) The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 (g) The provisions of this Article VI Section 1 shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance of the Trust's Distribution Plan is specifically approved at least annually by the Trustees of the Trust in conformity with Rule 12b-1. This Article VI Section 1 shall automatically terminate in the event of this Agreement' the assignment (as defined by the Investment Company Act of 1940 (the "1940 Act")) of the Agreement. In addition, the provision of this Article VI Section 1 may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or or, as provided in Rule 12b-1 12b-l under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 (h) The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI Section 1 and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (First Metlife Investors Variable Annuity Account One)
Service Fees. 6.1 So long as the Company complies with its obligations in this Article VI, the Underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule B, subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 fees to the Underwriter.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports and prospectuses provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (Lincoln Life & Annuity Flexible Prem Vari Life Acct M)
Service Fees. 6.1 So long as Provided that the Company complies with its obligations in under this Article VIAgreement, the Underwriter shall pay such Company a service fee (the "Service Fee") on shares of the Funds held in the Accounts at the annual rates specified in Schedule BB (excluding any accounts for the Company's own corporate retirement plans), subject to Section 6.2 hereof. In this Article VI only, use of the term Company shall also include Company's designee, Lincoln Financial Advisors Corporation. The Company represents and warrants that any Service Fees paid to the Company with respect to the Company's own retirement plans will be used in compliance with the Employee Retirement Income Security Act of 1974, as amended.
6.2 The Company understands and agrees that all Service Fee payments are subject to the limitations contained in each Fund's Distribution Plan, which may be varied or discontinued at any time and hereby waives the right to receive such service fee payments with respect to the Fund if the Fund ceases to pay 12b-1 Service fees to the UnderwriterUnderwriter pursuant to its Distribution Plan.
(a) The Company's failure to provide the services described in Section 6.4 or otherwise comply with the terms of this Agreement will render it ineligible to receive Service Fees; and
(b) the Underwriter may, without the consent of the Company, amend this Article VI to change the terms of the Service Fee payments with 90 days prior written notice to the Company.
6.4 The Company will provide the following services to the Contract Owners purchasing Fund shares:
(i) Maintaining regular contact with Contract owners and assisting in answering inquiries concerning the Funds;
(ii) Assisting in printing and distributing shareholder reports reports, prospectuses and prospectuses other sale and service literature provided by the Underwriter;
(iii) Assisting the Underwriter and its affiliates in the establishment and maintenance of investor shareholder and Contract owners accounts and records;
(iv) Assisting Contract owners in effecting administrative changes, such as exchanging shares in or out of the Funds;
(v) Assisting in processing purchasing purchase and redemption transactions; and
(vi) Providing any other information or services as the Contract owners or the Underwriter may reasonably request. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.5 The Company's compliance with the service requirement set forth in this Agreement will be evaluated from time to time by monitoring redemption levels of Fund shares held in any Account and by such other methods as the Underwriter deems appropriate.
6.6 The provisions of this Article VI shall remain in effect for not more than one year from the date hereof and thereafter for successive annual periods only so long as such continuance is specifically approved at least annually by the Trustees in conformity with Rule 12b-1. This Article VI shall automatically terminate in the event of this Agreement' assignment (as defined by the 1940 Act). In addition, this Article VI may be terminated at any time, without the payment of any penalty, with respect to any Fund or the Trust as a whole by any party upon written notice delivered or mailed by registered mail, postage prepaid, to the other party, or , as provided in Rule 12b-1 under the 1940 Act by the Trustees or by the vote of the holders of the outstanding voting securities of any Fund.
6.7 The Underwriter shall provide the Trustees of each of the Funds, and such Trustees shall review at least quarterly, a written report of the amounts paid to the Company under this Article VI and the purposes for which such expenditures were made. The Company will support the Underwriter's marketing efforts by granting reasonable requests for visits to the Company's offices by representatives of the Underwriter.
6.8 For purposes of computing the payment to Company contemplated under this Section 6, the average aggregate net asset value of shares of the Trust held by the Accounts over a one-month period shall be computed by totaling each Account's aggregate investment (share net asset value multiplied by total number of shares held by each Account) on each calendar day during the month, and dividing by the total number of calendar days during such month. The payment shall be calculated by Trust at the end of each calendar quarter and will be paid to the Company within thirty (30) calendar days thereafter. The payment will be accompanied by a statement showing the calculation of the quarterly amounts payable by Trust and such other supporting data as may be reasonably requested by Company. The Company reserves the right to audit the calculations made by Trust.
Appears in 1 contract
Samples: Participation Agreement (PFL Retirement Builder Variable Annuity Account)
