Common use of Transactions Subject to Fund/SERV Clause in Contracts

Transactions Subject to Fund/SERV. On each business day that the New York Stock Exchange is open for business on which the Portfolios determine their per share net asset values ("Business Day"), the Trust or its designee shall accept, and effect changes in the Trust's records upon receipt of purchase and redemption instructions from the Insurance Company electronically through Fund/SERV ("Instructions") without supporting documentation from the Account on whose behalf the Insurance Company is acting. On each Business Day, the Trust or its designee shall accept for processing any Instructions from the Insurance Company and shall process such Instructions in a timely manner. Notwithstanding the foregoing, nothing in this Amendment shall be construed as permitting the Insurance Company to establish new accounts through Fund/SERV; it being understood that any new accounts shall be established in accordance with the Participation Agreement and after submission of a written application to the Trust.

Appears in 3 contracts

Samples: Participation Agreement (Variable Account Ii Aig Life Insurance Co), Participation Agreement (Variable Account B American Intl Life Assur Co of New York), Participation Agreement (Usl Separate Account Usl Vl-R)

AutoNDA by SimpleDocs

Transactions Subject to Fund/SERV. On each business day that the New York Stock Exchange is open for business on which the Portfolios determine their per share net asset values ("Business Day"), the Trust or its designee shall accept, and effect changes in the Trust's ’s records upon receipt of purchase and redemption instructions from the Insurance Company electronically through Fund/SERV ("Instructions") without supporting documentation from the Account on whose behalf the Insurance Company is acting. On each Business Day, the Trust or its designee shall accept for processing any Instructions from the Insurance Company and shall process such Instructions in a timely manner. Notwithstanding the foregoing, nothing in this Amendment shall be construed as permitting the Insurance Company to establish new accounts through Fund/SERV; it being understood that any new accounts shall be established in accordance with Article 2 of the Participation Agreement and after submission of a written application to the Trust.

Appears in 1 contract

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

Transactions Subject to Fund/SERV. On each business day that the New York Stock Exchange is open for business on which the Portfolios determine their per share net asset values ("Business Day"), the Trust or its designee shall accept, accept and effect changes in the Trust's records upon receipt of purchase and redemption instructions from the Insurance Company electronically through Fundfund/SERV ("Instructions") without supporting documentation from the Account on whose behalf the Insurance Company is acting. On each Business Day, the Trust or its designee shall accept for processing any Instructions from the Insurance insurance Company and shall process such Instructions in a timely manner. Notwithstanding the foregoing, nothing in this Amendment shall be construed as permitting the Insurance Company to establish new accounts through Fund/SERV; it being understood that any new accounts shall be established in accordance with the Participation Agreement and after submission of a written application to the Trust.

Appears in 1 contract

Samples: Fund Participation Agreement (Principal Life Insurance Co Variable Life Sep Account)

Transactions Subject to Fund/SERV. On each business day that the New York Stock Exchange is open for business on which the Portfolios determine their per share net asset values ("Business Day"), the Trust or its designee shall accept, and effect changes in the Trust's records upon receipt of purchase and redemption instructions from the Insurance Company electronically through Fund/SERV ("Instructions") without supporting documentation from the Account on whose behalf the Insurance Company is acting. On each Business Day, the Trust or its designee shall accept for processing any Instructions from the Insurance Company and shall process such Instructions in a timely manner. Notwithstanding the foregoing, nothing in this Amendment shall be construed as permitting the Insurance Company to establish new accounts through Fund/SERV; it being understood that any new accounts shall be established in accordance with Article 2 of the Participation Agreement and after submission of a written application to the Trust.

Appears in 1 contract

Samples: Fund Participation Agreement (Fkla Variable Annuity Separate Account)

AutoNDA by SimpleDocs

Transactions Subject to Fund/SERV. On each business day that the New York Stock Exchange is open for business on which the Portfolios determine their per share net asset values ("Business Day"), the Trust or its designee shall accept, and effect changes in the Trust's ’s records upon receipt of purchase and redemption instructions from the Insurance Company electronically through Fund/SERV ("Instructions") without supporting documentation from the Account on whose behalf the Insurance Company is acting. On each Business Day, the Trust or its designee shall accept for processing any Instructions from the Insurance Company and shall process such Instructions in a timely manner. Notwithstanding the foregoing, nothing in this Amendment shall be construed as permitting the Insurance Company to establish new accounts through Fund/SERV; it being understood that any new accounts shall be established in accordance with the Participation Agreement and after submission of a written application to the Trust.

Appears in 1 contract

Samples: Participation Agreement (Separate Account Va Bny)

Transactions Subject to Fund/SERV. On each business day that the New York Stock Exchange is open for business on which the Portfolios determine their per share net asset values ("Business Day"), the Trust or its designee shall accept, accept and effect changes in the Trust's ’s records upon receipt of purchase and redemption instructions from the Insurance Company or its designee electronically through Fund/SERV ("Instructions") without supporting documentation from the Account on whose behalf the Insurance Company or its designee is acting. On each Business Day, the Trust or its designee shall accept for processing any Instructions from the Insurance Company or its designee and shall process such Instructions in a timely manner. Notwithstanding the foregoing, nothing in this Amendment shall be construed as permitting the Insurance Company or its designee to establish new accounts through Fund/SERV; it being understood that any new accounts shall be established in accordance with the Participation Agreement and after submission of a written application to the Trust.

Appears in 1 contract

Samples: Fund Participation Agreement (Mutual of America Separate Account No 2)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!