Substituted securities. 34. Where the Corporation whether before or after the execution of this Agreement executes and has registered in the Department of Mines a mortgage over a mineral claim in the mining areas, and the land the subject of that mineral claim, on the surrender of such claim, becomes incorporated in the mineral lease, then provided the consent of the mortgagee is first obtained the mineral lease shall notwithstanding the provisions of the Mining Act be deemed to be the subject of such mortgage as if the mineral lease had been referred to in the mortgage. A memorandum of any such mortgages shall thereupon by force of this Agreement be endorsed on the mineral lease in the order in which they appeared registered against any such mineral claim at the time of its surrender and shall be noted in the appropriate registers of the Department of Mines by the Principal Registrar who shall also endorse on the original and duplicate copies of such mortgages the fact of their having been registered as an encumbrance against the mineral lease.
Substituted securities. In the event of a stock split, an adjustment in conversion ratio, a recapitalization or a similar transaction affecting the Company’s outstanding securities without receipt of consideration, any substituted securities which are by reason of such transaction distributed with respect to any Restricted Shares, or into which such Restricted Shares thereby become convertible, shall immediately be subject to Repurchase Right Appropriate adjustments to reflect the distribution of such securities or property shall be made to the number and/or class of the Restricted Shares. After each such transaction, appropriate adjustments shall also be made to the price per share to be paid upon the exercise of Repurchase Right in order to reflect any change in the Company’s outstanding securities effected without receipt of consideration therefor; provided, however, that the aggregate purchase price payable for the Restricted Shares shall remain the same.
Substituted securities. If shares of the Mutual Funds should not be available or if, in our judgment, investment in such shares is no longer appropriate, we may substitute for such shares or apply Contributions received after a date specified by us to the purchase of (i) shares of another registered open-end investment company or (ii) securities or other property as we in our discretion shall select. In the event of any investment pursuant to clause (ii) above, we may make such changes as in our judgment are necessary or appropriate in the frequency and methods of determination of Unit Values, Net Investment Factors, Annuity Change Factors, and Investment Account Values, including any changes in the foregoing which will provide for the payment of an investment advisory fee; provided, however, that any such changes shall be made only after approval by the Insurance Department of the State of Iowa. We will give written notice to each Owner of Benefits of any substitution or change pursuant to this Section. Any substitution under this Section 18 is subject to the rules and regulations of the Securities and Exchange Commission. OPTION 1 - MONTHLY LIFE ANNUITY PER $1, 000 APPLIED FIXED BENEFITS - AMOUNT OF PAYMENT EACH MONTH AGE OF STRAIGHT INSTALLMENT PAYEE LIFE REFUND ------------ ------------- ----------------- 50 3.48 3.37 51 3.53 3.42 52 3.59 3.46 53 3.65 3.51 54 3.72 3.57 55 3.78 3.62 56 3.85 3. 68 57 3.92 3.74 58 4.00 3.80 59 4.08 3.86 60 4.17 3.93 61 4.26 4.00 62 4.35 4.07 63 4.45 4.15 64 4.56 4.23 65 4.68 4.31 66 4.80 4.40 67 4.93 4.50 68 5.07 4.59 69 5.22 4.70 70 5.38 4.80 71 5.55 4.92 72 5.73 5.04 73 5.92 5.16 74 6.13 5.29 75 6.35 5.43 RATES FOR OTHER AGES WILL BE DETERMINED ON THE SAME ACTUARIAL BASIS AS THE ABOVE RATES . TABLE 1 STRAIGHT LIFE INSTALLMENT REFUND TDSA - VARIABLE OPTION 1 - MONTHLY LIFE ANNUITY PER $1, 000 APPLIED FIXED BENEFITS - AMOUNT OF PAYMENT EACH MONTH
Substituted securities. Shares corresponding to a particular Fund may not always be available for purchase or the Company may decide that further investment in such Fund is no longer appropriate in view of the purposes of the Variable Account, or in view of legal, regulatory or federal income tax restrictions. In such event, shares of another registered openend investment company or unit investment trust may be substituted both for Fund shares already purchased and/or as the securities to be purchased in the future, provided that these substitutions meet applicable Internal Revenue Service diversification guidelines and have been approved by the Securities and Exchange Commission and such other regulatory authorities as may be necessary. In the event of any substitution pursuant to this provision, the Company may make appropriate endorsement(s) to this contract to reflect the substitution. Any substitution shall be subject to the approval of the Superintendent of Insurance of the State of New York. CONTRACT VALUES DURING ACCUMULATION PERIOD PROVISIONS Any paid-up annuity, cash surrender value, or death benefits available under this contract shall not be less than the minimum benefits required by the New York Insurance Law.
Substituted securities. If shares of the Mutual Funds should not be available or if, in our judgment, investment in such shares is no longer appropriate, we may substitute for such shares or apply Contributions received after a date specified by us to the purchase of (i) shares of another registered open-end investment company or (ii) securities or other property as we in our discretion shall select. In the event of any investment pursuant to clause (ii) above, we may make such changes as in our judgment are necessary or appropriate in the frequency and methods of determination of Unit Values, Net Investment Factors, Annuity Change Factors, and Investment Account Values, including any changes in the foregoing which will provide for the payment of an investment advisory fee; provided, however, that any such changes shall be made only after approval by the Insurance Department of the State of Iowa. We will give written notice to each Owner of Benefits of any substitution or change pursuant to this Section. Any substitution under this Section 18 is subject to the rules and regulations of the Securities and Exchange Commission.
