Common use of Transmittal of Portfolio Information Clause in Contracts

Transmittal of Portfolio Information. With respect to each Portfolio, the Fund or it transfer agent will provide the Company with (i) the Share Price determined as of the Close of Trading on each Business Day; (ii) dividend and capital gains distribution information on ex-date, but no later than the first Business Day following each ex-date established for the payment of dividends or capital gains distributions by the Portfolio; and (iii) in the case of fixed income and money market Portfolios which declare dividends daily, the daily accrual interest rate factor. The Fund will use its best efforts to communicate, or have its transfer agent communicate, such information to the Company or its designee by 6:45 p.m. Eastern Time each Business Day; however, the Fund reserves the right to communicate the Share Price at a time later than 6:45 p.m. Eastern Time due to extraordinary or unforeseen circumstances. Any error in the calculation or reporting of the closing Share Price shall be reported promptly upon discovery to the Company. In such event, the Company shall be entitled to an adjustment to the number of Shares purchased or redeemed to reflect the correct closing Share Price and the Fund shall bear the reasonable direct costs, incurred by the Company, of correcting such errors including reprocessing of contract and policy owner transactions.