Amendment No. 6 to Participation Agreement (AIM)
AMENDMENT NO. 6
PARTICIPATION AGREEMENT
PARTICIPATION AGREEMENT
The Participation Agreement (the “Agreement”), dated December 18, 1996, as amended, by and
among AIM Variable Insurance Funds, a Delaware trust, A I M Distributors, Inc. (“AIM”), a
Delaware corporation, and ML Life Insurance Company of New York (“MLNY”), a New York life
insurance company, is hereby amended as follows:
The following is added under: “Section 2 Processing Transactions” before Section 2.1(a):
The Parties agree to communicate, process and settle purchase and redemption
transactions for Shares (collectively, “Share transactions”) via the Fund/SERV and
Networking systems of the National Securities Clearing Corporation (hereinafter,
“NSCC”). Xxxxxxx Xxxxx Xxxxxx Xxxxxx & Xxxxx (“MLPFS”) on behalf of MLNY and AIM
each represents and warrants that it: (a) is a participant in NSCC, (b) has met and
will continue to meet all of the requirements to participate in Fund/SERV and
Networking, and (c) intends to remain at all times in compliance with the then
current rules and procedures of NSCC, all to the extent necessary or appropriate to
facilitate such communications, processing, and settlement of Share transactions.
AIM agrees to provide MLNY with account positions and activity data relating to
Share transactions via Networking. MLNY shall pay for Shares by the scheduled close
of federal funds transmissions on the same Business Day on which it places an order
to purchase Shares in accordance with this section. Payment shall be in federal
funds transmitted by wire from the Settling Bank (on behalf of MLNY) to the NSCC.
For purposes of this Agreement, “Fund/SERV” shall mean NSCC’s system for
automated, centralized processing of mutual fund purchase and redemption orders,
settlement, and account registration; “Networking” shall mean NSCC’s (Level Zero)
system that allows mutual funds and life insurance companies to exchange account
level information electronically; and “Settling Bank” shall mean the entity
appointed by AVIF to perform such settlement services on behalf of AVIF, which
agrees to abide by NSCC’s then current rules and procedures insofar as they relate
to same day funds settlement. In all cases, processing and settlement of Share
transactions shall be done in a manner consistent with applicable law.
In the event that any Party is prohibited from communicating, processing or
settling Share transactions via Fund/SERV or Networking, such Party shall notify
the other Parties. After all Parties have been notified, the provisions of
paragraphs (b) and (c) of this Section 2.1 shall apply.
All other terms and provisions of the Agreement not amended herein shall remain in full
force and effect.
Effective
as of Sept 10, 2002
| AIM VARIABLE INSURANCE FUNDS | ||||||||
Attest:
|
/s/ [ILLEGIBLE] | By: | /s/ Xxxxx X. Xxxxxxx | |||||
(SEAL) |
||||||||
| A I M DISTRIBUTORS, INC. |
||||||||
Attest:
|
/s/ [ILLEGIBLE] | By: | /s/ Xxxxxxx X. Xxxx | |||||
(SEAL) |
||||||||
| ML LIFE INSURANCE COMPANY OF NEW YORK | ||||||||
Attest:
|
/s/ [ILLEGIBLE] | By: | /s/ [ILLEGIBLE] | |||||
(SEAL) |
||||||||
AMENDMENT NO. 6
PARTICIPATION AGREEMENT
PARTICIPATION AGREEMENT
The Participation Agreement (the “Agreement”), dated December 18, 1996, as amended,
by and among AIM Variable Insurance Funds, a Delaware trust, A I M Distributors, Inc. (“AIM”), a
Delaware corporation, and ML Life Insurance Company of New York (“MLNY”), a New York life
insurance company, is hereby amended as follows:
The following is added under: “Section 2 Processing Transactions” before Section 2.1(a):
The Parties agree to communicate, process and settle purchase and redemption
transactions for Shares (collectively, “Share transactions”) via the Fund/SERV and
Networking systems of the National Securities Clearing Corporation (hereinafter,
“NSCC”). Xxxxxxx Xxxxx Xxxxxx Xxxxxx & Xxxxx (“MLPFS”) on behalf of MLNY and AIM each
represents and warrants that it: (a) is a participant in NSCC, (b) has met and will
continue to meet all of the requirements to participate in Fund/SERV and Networking,
and (c) intends to remain at all times in compliance with the then current rules and
procedures of NSCC, all to the extent necessary or appropriate to facilitate such
communications, processing, and settlement of Share transactions. AIM agrees to
provide MLNY with account positions and activity data relating to Share transactions
via Networking. MLNY shall pay for Shares by the scheduled close of federal funds
transmissions on the same Business Day on which it places an order to purchase Shares
in accordance with this section. Payment shall be in federal funds transmitted by
wire from the Settling Bank (on behalf of MLNY) to the NSCC.
For purposes of this Agreement, “Fund/SERV” shall mean NSCC’s system for
automated, centralized processing of mutual fund purchase and redemption orders,
settlement, and account registration; “Networking” shall mean NSCC’s (Level Zero)
system that allows mutual funds and life insurance companies to exchange account
level information electronically; and “Settling Bank” shall mean the entity appointed
by AVIF to perform such settlement services on behalf of AVIF, which agrees to abide
by NSCC’s then current rules and procedures insofar as they relate to same day funds
settlement. In all cases, processing and settlement of Share transactions shall be
done in a manner consistent with applicable law.
In the event that any Party is prohibited from communicating, processing or
settling Share transactions via Fund/SERV or Networking, such Party shall notify the
other Parties. After all Parties have been notified, the provisions of paragraphs
(b) and (c) of this Section 2.1 shall apply.
All other terms and provisions of the Agreement not amended herein shall remain in full force
and effect.
Effective as of Sept 10, 2002
| AIM VARIABLE INSURANCE FUNDS |
||||||||
Attest:
|
/s/ [ILLEGIBLE] | By: | /s/ Xxxxx X. Xxxxxxx | |||||
(SEAL) |
||||||||
| A I M DISTRIBUTORS, INC. |
||||||||
Attest:
|
/s/ [ILLEGIBLE] | By: | /s/ Xxxxxxx X. Xxxx | |||||
(SEAL) |
||||||||
| ML LIFE INSURANCE COMPANY OF NEW YORK | ||||||||
Attest:
|
/s/ [ILLEGIBLE] | By: | /s/ [ILLEGIBLE] | |||||
| Assistant Secretary | President | |||||||
(SEAL) |
||||||||
