Common use of TIMELY PRICING AND ORDERS Clause in Contracts

TIMELY PRICING AND ORDERS. The Adviser or its designated agent will provide closing net asset value, dividend and capital gain information for each Portfolio to Insurer at the close of trading on each day (a "Business Day") on which (a) the New York Stock Exchange is open for regular trading, (b) the Fund calculates the Portfolio's net asset value and (c) Insurer is open for business. The Fund or its designated agent will use its best efforts to provide this information by 6:00 p.m., Eastern time, but in no event later than 7:00 p.m. Eastern time. The Fund will notify the Insurer as soon as possible if it is determined that this information will be available after 7:00 p.m. Eastern time, and the Fund and the Insurer will mutually agree upon a final deadline for timely receipt of this information on that Business Day. Insurer will use these data to calculate unit values, which in turn will be used to process transactions that receive that same Business Day's Separate Account Division's unit values. Such Separate Account processing will be done the same evening, and corresponding orders with respect to Fund shares will be placed the morning of the following Business Day. Insurer will use its best efforts to place such orders with the Fund by 10:00 a.m., Eastern time.