TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other party. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, Distributor, affiliates of Distributor, or the Issuer, which proceedings Distributor reasonably believes may have a material adverse impact on the ability of Distributor, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of Distributor, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 8 contracts
Samples: Shareholder Services Agreement (Variable Account B American Intl Life Assur Co of New York), Shareholder Services Agreement (American Fidelity Separate Account B), Shareholder Services Agreement (Ge Capital Life Separate Account Ii)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other party. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, Distributor, affiliates of Distributor, or the Issuer, which proceedings Distributor reasonably believes may have a material adverse impact on the ability of Distributor, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of Distributor, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section SECTION 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this Agreement. Following termination, for so long as Company continues to own shares of any Fund, Distributor shall not have any continue to pay the Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination datedescribed in SECTION 6(b).
Appears in 7 contracts
Samples: Shareholder Services Agreement (Conseco Variable Annuity Account C), Shareholder Services Agreement (Conseco Variable Annuity Account H), Shareholder Services Agreement (Conseco Variable Annuity Account E)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other party. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, Distributor, affiliates of Distributor, or the Issuer, which proceedings Distributor reasonably believes may have a material adverse impact on the ability of Distributor, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of Distributor, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section SECTION 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 5 contracts
Samples: Shareholder Services Agreement (Provident Mutual Variable Life Separate Account), Shareholder Services Agreement (American Separate Account 5), Shareholder Services Agreement (American Separate Account 5)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other partyparties. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, DistributorACIM, affiliates of DistributorACIM, or the Issuer, which proceedings Distributor ACIM reasonably believes may have a material adverse impact on the ability of DistributorACIM, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorACIM, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section SECTION 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor ACIM shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 3 contracts
Samples: Shareholder Services Agreement (General American Life Insurance Co Separate Account Eleven), Shareholder Services Agreement (Massachusetts Mutual Variable Life Separate Account I), Shareholder Services Agreement (Kilico Variable Annuity Separate Account)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other partyparties. Notwithstanding the above, the each Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, Distributor, affiliates of Distributor, or any of the IssuerIssuers, which proceedings Distributor reasonably believes may have a material adverse impact on the ability of of-Distributor, the Issuer Issuers or the Company to perform its obligations under this Agreement or (B) in the judgment of Distributor, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 SECTION 3 for Orders received by the Company prior to such termination and shall not affect the Issuer's Issuers' obligation to maintain the Accounts as set forth by this Agreementin the name of the Plans or any successor trustee or recordkeeper for the Plans. Following termination, Distributor shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 3 contracts
Samples: Participation Agreement (Bma Variable Life Account A), Participation Agreement (Bma Variable Life Account A), Fund Participation Agreement (Great American Reserve Variable Annuity Account F)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' ’ prior written notice to the other party; by the Company, if the Company decides to substitute such Fund shares with the shares of another investment company for Contracts for which the Fund shares have been selected to serve as the underlying investment medium; or on 60 days’ written notice pursuant to a vote of a majority of the outstanding securities of the Funds. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, Distributor, affiliates of Distributor, or the Issuer, which proceedings Distributor reasonably believes may have a material adverse impact on the ability of Distributor, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorDistributor or the Company, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's ’s counsel, violate any applicable federal or state law, rule, regulation or judicial order; (iii) by a vote of a majority of the independent directors, or (iv) upon assignment by either party. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's ’s obligation to maintain the Accounts shares of the Funds as set forth by this Agreement. Following termination, Distributor shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 2 contracts
Samples: Fund Participation and Shareholder Services Agreement (Nationwide VL Separate Account-G), Fund Participation and Shareholder Services Agreement (Nationwide VL Separate Account-G)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other partyparties. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, DistributorACIM, affiliates of DistributorACIM, or the Issuer, which proceedings Distributor ACIM reasonably believes may have a material adverse impact on the ability of DistributorACIM, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorACIM, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor ACIM shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 2 contracts
Samples: Shareholder Services Agreement (National Variable Life Insurance Account), Shareholder Services Agreement (Massachusetts Mutual Variable Annuity Separate Account 4)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other party. Notwithstanding the above, the Issuer Trust reserves the right, without prior notice, to suspend sales of shares of any FundPortfolio, in whole or in part, or to make a limited offering of shares of any of the Funds Portfolios in the event that (A) any regulatory body commences formal proceedings against the Company, Adviser, Distributor, affiliates of Distributor, or the IssuerTrust, which proceedings Distributor reasonably believes may have a material adverse impact on the ability of Adviser, Distributor, the Issuer Trust or the Company to perform its obligations under this Agreement or (B) in the judgment of Distributor, declining to accept any additional instructions for the purchase or sale of shares of any such Fund Portfolio is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section SECTION 4 for Orders received by the Company prior to such termination and shall not affect the IssuerTrust's obligation to maintain the Accounts as set forth by this Agreement. Following termination, for so long as Company continues to own shares of any Portfolio, Adviser or Distributor shall not have any continue to pay the Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination datedescribed in SECTION 6(b).
Appears in 2 contracts
Samples: Shareholder Services Agreement (American Separate Account 5), Shareholder Services Agreement (Safeco Resource Series Trust)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' ’ prior written notice to the other party. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, DistributorACIM, affiliates of DistributorACIM, or the Issuer, which proceedings Distributor ACIM reasonably believes may have a material adverse impact on the ability of DistributorACIM, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorACIM, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's ’s counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's ’s obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor ACIM shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 2 contracts
Samples: Shareholder Services Agreement (C M Life Variable Life Separate Account I), Shareholder Services Agreement (Massachusetts Mutual Variable Life Separate Account I)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other partyparties. Notwithstanding the above, the each Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, part or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, Distributor, affiliates of Distributor, or the Issuer, which proceedings Distributor reasonably believes may have a material adverse impact on an the ability of Distributor, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of Distributor, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section SECTION 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 2 contracts
Samples: Shareholder Services Agreement (Safeco Separate Account Sl), Shareholder Services Agreement (Safeco Separate Account Sl)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' ’ prior written notice to the other partyparties. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, DistributorACIM, affiliates of DistributorACIM, or the Issuer, which proceedings Distributor ACIM reasonably believes may have a material adverse impact on the ability of DistributorACIM, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorACIM, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's ’s counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's ’s obligation to maintain the Accounts Account as set forth by this Agreement. Following termination, Distributor ACIM shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 2 contracts
Samples: Shareholder Services Agreement (Principal Life Insurance Co Separate Account B), Shareholder Services Agreement (Principal Life Insurance Co Variable Life Sep Account)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other party, or, on 60 days' written notice pursuant to a vote of a majority f the outstanding securities of the Funds. Notwithstanding the above, the each Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, Distributor, affiliates or any of Distributor, or the IssuerIssuers, which proceedings Distributor reasonably believes may have a material adverse impact on the ability of Distributor, the Issuer Issuers or the Company to perform its obligations under this Agreement or (B) in the judgment of Distributor, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order, (iii) by a vote of a majority of the independent directors of any of the Issuers, or (iv) upon assignment by either party. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section SECTION 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this AgreementAccounts. Following termination, Distributor shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 1 contract
Samples: Shareholder Services Agreement (Genworth Life & Annuity VA Separate Account 3)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other partyparties. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, DistributorACIM, affiliates of DistributorACIM, or the Issuer, which proceedings Distributor ACIM reasonably believes may have a material adverse impact on the ability of DistributorACIM, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorACIM, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts Account as set forth by this Agreement. Following termination, Distributor ACIM shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 1 contract
Samples: Shareholder Services Agreement (Principal Life Insurance Co Variable Life Sep Account)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other partyparties. Notwithstanding ~Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, DistributorACIM, affiliates of DistributorACIM, or the Issuer, which proceedings Distributor ACIM reasonably believes may have a material adverse impact on the ability of DistributorACIM, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorACIM, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor ACIM shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 1 contract
Samples: Shareholder Services Agreement (National Variable Life Insurance Account)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 days' prior written notice to the other party. Notwithstanding the above, the Issuer Trust reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, Distributorthe Adviser, affiliates of Distributorthe Adviser, or the IssuerTrust, which proceedings Distributor the Adviser reasonably believes may have a material adverse impact on the ability of Distributorthe Adviser, the Issuer Trust or the Company to perform its obligations under this Agreement or (B) in the judgment of Distributorthe Adviser, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section SECTION 4 for Orders received by the Company prior to such termination and shall not affect the IssuerTrust's obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor the Fund Parties shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 1 contract
Samples: Shareholder Services Agreement (American Separate Account 5)
TERMINATION; WITHDRAWAL OF OFFERING. This Any party may terminate this Agreement may be terminated by either with respect to such party upon 180 90 days' prior written notice to the other party. Notwithstanding the aboveparties; provided, the Issuer however, that each Fund reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against AGIS, any of the Funds or the Company, Distributor, affiliates of Distributor, or the Issuer, which proceedings Distributor reasonably AGIS believes may will have a material adverse impact on the ability of Distributor, the Issuer AGIS or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorAGIS, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately upon (i) termination by the trustee or other Plan representative of the Company's right to provide Administrative Services to the Plan and the actual cessation by the Company of providing such services, or (ii) a good faith determination by AGIS that shares of any party as a result of the Funds are not being offered in conformity with the terms of this Agreement, the then current prospectus or applicable law, or (iii) any other breach of this Agreement by another a party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section 4 3 for Orders received by the Company AGIS prior to such termination and shall not affect the Issuer's Funds' obligation to maintain the Accounts as set forth by this Agreementin the name of any Plan or any successor trustee or recordkeeper for such Plan. Following termination, Distributor AGIS shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date)Company.
Appears in 1 contract
Samples: Shareholder Services Agreement (Aul American Unit Trust)
TERMINATION; WITHDRAWAL OF OFFERING. This Agreement may be terminated by either party upon 180 120 days' prior written notice to the other partyparties. Notwithstanding the above, the Issuer reserves the right, without prior notice, to suspend sales of shares of any Fund, in whole or in part, or to make a limited offering of shares of any of the Funds in the event that (A) any regulatory body commences formal proceedings against the Company, DistributorACIM, affiliates of DistributorACIM, or the Issuer, which proceedings Distributor ACIM reasonably believes may have a material adverse impact on the ability of DistributorACIM, the Issuer or the Company to perform its obligations under this Agreement or (B) in the judgment of DistributorACIM, declining to accept any additional instructions for the purchase or sale of shares of any such Fund is warranted by market, economic or political conditions. Notwithstanding the foregoing, this Agreement may be terminated immediately (i) by any party as a result of any other breach of this Agreement by another party, which breach is not cured within 30 days after receipt of notice from the other party, or (ii) by any party upon a determination that continuing to perform under this Agreement would, in the reasonable opinion of the terminating party's counsel, violate any applicable federal or state law, rule, regulation or judicial order. Termination of this Agreement shall not affect the obligations of the parties to make payments under Section SECTION 4 for Orders received by the Company prior to such termination and shall not affect the Issuer's obligation to maintain the Accounts as set forth by this Agreement. Following termination, Distributor ACIM shall not have any Administrative Services payment obligation to the Company (except for payment obligations accrued but not yet paid as of the termination date).
Appears in 1 contract
Samples: Shareholder Services Agreement (Valley Forge Life Insurance Co Variable Life Separate Accoun)