Common use of VCA-10 COMMITTEE Clause in Contracts

VCA-10 COMMITTEE. The operation of VCA-10 will be supervised by The Prudential VCA-10 Committee (the "Committee"). The initial Committee members will be appointed by Prudential. Thereafter, members will be elected by the Participants. GVA-1000 (10) Serial 210 2.3 Provision II. INVESTMENT ACCOUNT - UNIT VALUES - COMMITTEE: 2.1 THE PRUDENTIAL VARIABLE CONTRACT ACCOUNT - 11 (VCA-11): VCA-11 is a separate investment account of Prudential established pursuant to a resolution adopted by its Board of Directors. The resolution provides that this account is to be used for contracts which state that certain payments and values under them will vary to reflect the investment results of this account. The investments held in VCA-11 are intended to be composed of high-grade money market instruments. Prudential will invest and reinvest the assets held in VCA-11 in accordance with the investment objectives and policies established for it. The total value of the assets held in VCA-11 at all times will be at least equal to the total reserve liability required by law for all payments or values which vary in dollar amount to reflect the investment results of VCA-11. Assets held in VCA-11 equal in value to that reserve liability will be held for the sole benefit of all contracts which participate in VCA-11 The amount, if any, by which the total value exceeds the total reserve liability will be subject to the exclusive control of Prudential. Thus, Prudential may from time to time make transfers between VCA-11 and its other investment accounts as, in its judgment, experience warrants. A transfer will not affect Prudential's contractual liabilities under this contract.

Appears in 2 contracts

Samples: Group Annuity Contract (Prudential Variable Contract Account 11), Group Annuity Contract (Prudential Variable Contract Account 10)

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VCA-10 COMMITTEE. The operation of VCA-10 will be supervised by The Prudential VCA-10 Committee (the "Committee"). The initial Committee members will be appointed by Prudential. Thereafter, members will be elected by the Participants. GVA-1000 GVA-110-82 (10) Serial 210 2.3 Provision II. INVESTMENT ACCOUNT - UNIT VALUES - COMMITTEE: 2.1 THE PRUDENTIAL VARIABLE CONTRACT ACCOUNT - 11 (VCA-11): VCA-11 is a separate investment account of Prudential established pursuant to a resolution adopted by its Board of Directors. The resolution provides that this account is to be used for contracts which state that certain payments and values under them will vary to reflect the investment results of this account. The investments held in VCA-11 are intended to be composed of high-grade money market instruments. Prudential will invest and reinvest the assets held in VCA-11 in accordance with the investment objectives and policies established for it. The total value of the assets held in VCA-11 at all times will be at least equal to the total reserve liability required by law for all payments or values which vary in dollar amount to reflect the investment results of VCA-11. Assets held in VCA-11 equal in value to that reserve liability will be held for the sole benefit of all contracts which participate in VCA-11 VCA-11. The amount, if any, by which the total value exceeds the total reserve liability will be subject to the exclusive control of Prudential. Thus, Prudential may from time to time make transfers between VCA-11 and its other investment accounts as, in its judgment, experience warrants. A transfer will not affect Prudential's contractual liabilities under this contract.

Appears in 2 contracts

Samples: Group Annuity Contract (Prudential Variable Contract Account 11), Group Annuity Contract (Prudential Variable Contract Account 10)

VCA-10 COMMITTEE. The operation of VCA-10 will be supervised by The Prudential VCA-10 Committee (the "Committee"). The initial Committee members will be appointed by Prudential. Thereafter, members will be elected by the Participants. GVA-1000 GVA-100O (10) Serial 210 2.3 Provision II. INVESTMENT ACCOUNT - UNIT VALUES - COMMITTEE: 2.1 THE PRUDENTIAL VARIABLE CONTRACT ACCOUNT - 11 (VCA-11): VCA-11 is a separate investment account of Prudential established pursuant to a resolution adopted by its Board of Directors. The resolution provides that this account is to be used for contracts which state that certain payments and values under them will vary to reflect the investment results of this account. The investments held in VCA-11 are intended to be composed of high-grade money market instruments. Prudential will invest and reinvest the assets held in VCA-11 in accordance with the investment objectives and policies established for it. The total value of the assets held in VCA-11 at all times will be at least equal to the total reserve liability required by law for all payments or values which vary in dollar amount to reflect the investment results of VCA-11. Assets held in VCA-11 equal in value to that reserve liability will be held for the sole benefit of all contracts which participate in VCA-11 VCA-11. The amount, if any, by which the total value exceeds the total reserve liability will be subject to the exclusive control of Prudential. Thus, Prudential may from time to time make transfers between VCA-11 and its other investment accounts as, in its judgment, experience warrants. A transfer will not affect Prudential's contractual liabilities under this contract.

Appears in 1 contract

Samples: Group Annuity Contract (Prudential Variable Contract Account 10)

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VCA-10 COMMITTEE. The operation of VCA-10 will be supervised by The Prudential VCA-10 Committee (the "Committee"). The initial Committee members will be appointed by Prudential. Thereafter, members will be elected by the Participants. GVA-1000 (10) Serial 210 2.3 Provision II. INVESTMENT ACCOUNT - UNIT VALUES - COMMITTEE: 2.1 THE PRUDENTIAL VARIABLE CONTRACT ACCOUNT - 11 (VCA-11): VCA-11 is a separate investment account of Prudential established pursuant to a resolution adopted by its Board of Directors. The resolution provides that this account is to be used for contracts which state that certain payments and values under them will vary to reflect the investment results of this account. The investments held in VCA-11 are intended to be composed of high-grade money market instruments. Prudential will invest and reinvest the assets held in VCA-11 in accordance with the investment objectives and policies established for it. The total value of the assets held in VCA-11 at all times will be at least equal to the total reserve liability required by law for all payments or values which vary in dollar amount to reflect the investment results of VCA-11. Assets held in VCA-11 equal in value to that reserve liability will be held for the sole benefit of all contracts which participate in VCA-11 VCA-11. The amount, if any, by which the total value exceeds the total reserve liability will be subject to the exclusive control of Prudential. Thus, Prudential may from time to time make transfers between VCA-11 and its other investment accounts as, in its judgment, experience warrants. A transfer will not affect Prudential's contractual liabilities under this contract.

Appears in 1 contract

Samples: Group Annuity Contract (Prudential Variable Contract Account 11)

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