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Common use of Timely Payments Clause in Contracts

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, to the extent practicable. Payment for net redemptions will be wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act").

Appears in 41 contracts

Samples: Participation Agreement (First Symetra National Life Insurance Co of Ny Sep Acct S), Participation Agreement (Symetra Resource Variable Account B), Participation Agreement (Variable Account I of AGL of Delaware)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, to the extent practicable. Payment for net redemptions will be wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act").

Appears in 31 contracts

Samples: Participation Agreement (Separate Account a of Pacific Life & Annuity Co), Participation Agreement (Separate Account a of Pacific Life & Annuity Co), Participation Agreement (Separate Account a of Pacific Life Insurance Co)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, to the extent practicable. Payment for net redemptions will be wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six five calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act").

Appears in 10 contracts

Samples: Participation Agreement (Forethought Life Insurance Co Separate Account A), Participation Agreement (Ids Life of New York Variable Annuity Account), Participation Agreement (Ids Life Account F)

Timely Payments. Insurer or its Administrator will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, to the extent practicable. Payment for net redemptions will be wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act").

Appears in 5 contracts

Samples: Participation Agreement (Separate Account Vul 2 of Transamerica Occidental Life Ins), Participation Agreement (Sep Acct Vul-6 of Transamerica Occidental Life Insurance Co), Participation Agreement (Separate Account Vul 4 of Transamer Occidental Life Ins Co)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, placed to the extent practicable. Payment for net redemptions will be in federal funds wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six five calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act")”) or such shorter period of time as may be required by law.

Appears in 3 contracts

Samples: Participation Agreement (Ml of New York Variable Annuity Separate Account A), Participation Agreement (Ml of New York Variable Annuity Separate Account A), Participation Agreement (Merrill Lynch Life Variable Annuity Separate Account A)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, to the extent practicable. Payment for net redemptions will be wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six three calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act").

Appears in 3 contracts

Samples: Participation Agreement (Fs Variable Annuity Account Nine), Participation Agreement (Fs Variable Annuity Account Nine), Participation Agreement (Metlife of Ct Fund Ul Iii for Variable Life Insurance)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, placed to the extent practicable. Payment for net redemptions will be in federal funds wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six five calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act")) or such shorter period of time as may be required by law.

Appears in 2 contracts

Samples: Participation Agreement (Ml of New York Variable Annuity Separate Account A), Participation Agreement (Merrill Lynch Life Variable Annuity Separate Account A)

Timely Payments. Insurer ANLIC will transmit orders for purchases and redemptions of Fund Trust shares to the Distributor, and will wire payment for net purchases to a custodial account designated by the Fund Trust on the same day as the order for Fund Trust shares is placed, to the extent practicable. Payment for net redemptions will be wired by the Fund Trust to an account designated by Insurer ANLIC on the same day as the order is placed, to the extent practicable, and in any event be made within six calendar days after the date the order is placed in order to enable Insurer ANLIC to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act").

Appears in 2 contracts

Samples: Participation Agreement (Variable Separate Account of Anchor National Life Insur Co), Participation Agreement (Variable Separate Account of Anchor National Life Insur Co)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, to the extent practicable. Payment for net redemptions will be wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six calendar days after the date the order is placed in order orde to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act").

Appears in 2 contracts

Samples: Participation Agreement (Cova Variable Annuity Account One), Participation Agreement (Cova Variable Annuity Account Five)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment in federal funds for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, to the extent practicable. Payment for net redemptions will be wired in federal funds by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act").

Appears in 1 contract

Samples: Participation Agreement (Hartford Life & Annuity Insurance Co Separate Account Seven)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, placed to the extent practicable. Payment for net redemptions will be in federal funds wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six five calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Act")”) or such shorter period of time as may be required by law.

Appears in 1 contract

Samples: Participation Agreement (Ml of New York Variable Annuity Separate Account A)

Timely Payments. Insurer will transmit orders for purchases and redemptions of Fund shares to Distributor, and will wire payment for net purchases to a custodial account designated by the Fund on the day the order for Fund shares is placed, to the extent practicable. Payment for net redemptions will be wired by the Fund to an account designated by Insurer on the same day as the order is placed, to the extent practicable, and in any event be made within six calendar days after the date the order is placed in order to enable Insurer to pay redemption proceeds within the time specified in Section 22(e) of the Investment Company Act of 1940, as amended (the "1940 Actxxx " 0000 Xxx").

Appears in 1 contract

Samples: Participation Agreement (Lincoln Life Variable Annuity Account N)