Common use of The Variable Account Subaccounts Clause in Contracts

The Variable Account Subaccounts. 1. We reserve the right to eliminate the availability of the shares of any mutual fund portfolio and substitute the securities of a different investment company if the shares of a mutual fund portfolio are no longer available for investment, or, if in our judgment, any mutual fund portfolio should become inappropriate in view of the purposes of this Contract. We may add a Subaccount investing in a new mutual fund portfolio. We will give you written notice of the elimination or substitution of any mutual fund portfolio no later than 15 days after the substitution occurs. Any such eliminations, substitutions or additions will be subject to compliance with any applicable regulatory requirements. 2. The value of a Subaccount on any Business Day is the number of Accumulation Units in the Subaccount multiplied by the value of an Accumulation Unit of the Subaccount at the end of the Valuation Period.

The Variable Account Subaccounts. 1. We reserve the right to eliminate the availability of the shares of any mutual fund portfolio and substitute the securities of a different investment company if the shares of a mutual fund portfolio are no longer available for investment, or, if in our judgment, any mutual fund portfolio should become inappropriate in view of the purposes of this Contract. We may add a Subaccount investing in a new mutual fund portfolio. We will give you written notice of the elimination or substitution of any mutual fund portfolio no later than 15 days after the substitution occurs. Any such eliminations, substitutions or additions will be subject to compliance with any applicable regulatory requirements. 2. The value of a Subaccount on any Business Day is the number of Accumulation Units in the Subaccount multiplied by the value of an Accumulation Unit of the Subaccount at the end of the Valuation Period. 3. (a)