Withdrawal. If a material irreconcilable conflict arises because of the Company's decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the Trust Board, the Company will redeem the shares of the Trust to which the disregarded voting instructions relate. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 38 contracts
Samples: Participation Agreement (Horace Mann Life Insurance Co Separate Account), Participation Agreement (Protective Variable Annuity Separate Account), Participation Agreement (Protective Variable Annuity Separate Account)
Withdrawal. If a material irreconcilable conflict arises because of the Company's ’s decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the Trust Board, the Company will redeem the shares of the Trust to which the disregarded voting instructions relate. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 12 contracts
Samples: Participation Agreement (SBL Variable Annuity Account Xiv), Participation Agreement (Massachusetts Mutual Variable Life Separate Account I), Participation Agreement (Massachusetts Mutual Variable Life Separate Account I)
Withdrawal. If a material irreconcilable conflict arises because of the Company's ’s decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the if Trust BoardBoard so requests, the Company will redeem the shares of the Trust to which the disregarded voting instructions relaterelate and terminate this Agreement with respect to the Account through which such Contracts were issued. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 9 contracts
Samples: Participation Agreement (Separate Account a of Pacific Life & Annuity Co), Participation Agreement (Thrivent Variable Annuity Account I), Participation Agreement (Mutual of America Separate Account No 2)
Withdrawal. If a material irreconcilable conflict arises because of the Company's ’s decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at if the request of the Trust BoardFund Board so requests, the Company will redeem the shares of the Trust Fund to which the disregarded voting instructions relaterelate and terminate this Agreement with respect to the Account through which such Contracts were issued. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 6 contracts
Samples: Participation Agreement (Variable Annuity Account A), Participation Agreement (SBL Variable Annuity Account Xiv), Participation Agreement (Variable Annuity Account A)
Withdrawal. If a material irreconcilable conflict arises because of the Company's ’s decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the if Trust BoardBoard so requests, the Company will redeem the shares of the Trust to which the disregarded voting instructions relaterelate [and terminate this Agreement with respect to the Account through which such Contracts were issued]. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 4 contracts
Samples: Participation Agreement (Symetra Separate Account Sl), Participation Agreement (Peoples Benefit Life Insurance Co Separate Account V), Participation Agreement (TFLIC Separate Account VNY)
Withdrawal. If a material irreconcilable conflict arises because of the Company's ’s decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the if Trust BoardBoard so requests, the Company will redeem the shares of the Trust to which the disregarded voting instructions relaterelate and terminate this Agreement with respect to the Account through which such Contracts were issued. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 4 contracts
Samples: Participation Agreement (MEMBERS Horizon Variable Separate Account), Participation Agreement (Variable Annuity Account A), Participation Agreement (Variable Annuity Account A)
Withdrawal. If a material irreconcilable conflict arises because of the CompanyCompany 's decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the Trust Board, the Company will redeem the shares of the Trust to which the disregarded voting instructions relate. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 3 contracts
Samples: Participation Agreement (Variable Annuity-2 Series Account), Participation Agreement (Variable Annuity-2 Series Account), Participation Agreement (Variable Annuity-2 Series Account)
Withdrawal. If a material irreconcilable conflict arises because of the Company's decision to disregard the voting instructions of Contract Owners of variable life insurance policies or variable annuities and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the Trust Board, the Company will redeem the shares of the Trust to which the disregarded voting instructions relate. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 3 contracts
Samples: Participation Agreement (Cova Variable Annuity Account Five), Participation Agreement (Allstate Life of New York Separate Account A), Participation Agreement (Cova Variable Annuity Account One)
Withdrawal. If a material irreconcilable conflict arises because of the Company's ’s decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund Portfolio shareholder meeting, then, at the request of the if Trust BoardBoard so requests, the Company will redeem the shares of the Trust to which the disregarded voting instructions relaterelate provided that the Trust give six (6) months written notice of such required redemption to the Company. No charge or penalty, however, will be imposed in connection with such a redemption.
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)
Withdrawal. If a material irreconcilable conflict arises because of the Company's decision to disregard the voting instructions of Contract Owners of variable life insurance policies and that decision represents a minority position or would preclude a majority vote at any Fund shareholder meeting, then, at the request of the Trust Board, the Company will redeem the shares of the Trust to which the disregarded voting instructions relate. No charge or penalty, however, will be imposed in connection with such a redemption.
Appears in 1 contract
Samples: Participation Agreement (Ge Capital Life Separate Account Ii)
