AGREEMENT FOR COOPERATIVE AND JOINT USE OF
PERSONNEL, PROPERTY AND SERVICES BETWEEN THE EQUITABLE
LIFE ASSURANCE SOCIETY OF THE UNITED STATES AND
EQUITABLE LIFE ASSURANCE SOCIETY OF COLORADO INC.
Agreement made as of the 16th day of April, 1984 between THE EQUITABLE
LIFE ASSURANCE SOCIETY OF THE UNITED STATES, a New York corporation
("Equitable") and EQUITABLE LIFE ASSURANCE SOCIETY OF COLORADO Inc., a Colorado
corporation ("Colorado Life"),
Witnesseth:
WHEREAS, Colorado Life is a wholly owned subsidiary of Equitable and
desires to utilize Equitable's personnel, property and services in carrying out
some of its corporate functions and Equitable is willing to furnish the same on
the terms and conditions hereinafter set forth;
NOW, THEREFORE, the parties do hereby mutually agree as follows:
1. Equitable will furnish, or contract with any of its affiliates or
subsidiaries for the furnishing of, as available, personnel, property and
services, including advice and assistance with respect to investments,
requested from time to time by Colorado Life to carry out its corporate
functions.
2. Colorado Life agrees to pay to Equitable those costs and expenses
incurred by Equitable or any of its affiliates or subsidiaries which, as
reasonably determined by Equitable and demonstrated to the reasonable
satisfaction of Colorado Life, reflect the actual cost to Equitable or its
affiliates or subsidiaries of furnishing such personnel, property and services.
3. The books, accounts and records of Equitable and Colorado Life as to
all transactions hereunder, shall be maintained so as to clearly and accurately
disclose the nature and details of the transactions, including such accounting
information as is necessary to support the reasonableness of the charges or fees
herein.
4. The term of this Agreement shall commence as of the date hereinabove
indicated and continue until December 31, 1984, and thereafter shall be deemed
to be renewed automatically, upon the same terms and conditions, for successive
periods of one year each, until either party, at least 60 days prior to the
expiration of the original term or of any extended term, shall give written
notice to the other party of its intention not to renew the Agreement.
5. It is understood that (a) Equitable, any of its affiliates or
subsidiaries, will invest for their own account
and may act as investment adivser for others and that Equitable or such others
or persons or organizations affiliated with Equitable could have investment
interests adverse to the interests of Colorado Life in the same or related
investments, (b) Equitable is not obligated to make available to Colorado Life
any particular investment opportunity which comes to Equitable or its
subsidiaries or affiliates, regardless of whether such opportunity is consistent
with the investment policies of Colorado Life; and (c) Colorado Life shall
retain full control over its investment activities, and Equitable or any of its
affiliates or subsidiaries shall have no power or authority by virtue of this
Agreement, whether as agent or otherwise, to obligate or commit Colorado Life
for the acquisition or disposition of any investment.
6. No assignment of this Agreement shall be made by Equitable without the
consent of Colorado Life.
7. Subject to the foregoing Clause 6, this Agreement shall inure to the
benefit of and be binding upon the successors and assigns of the parties hereto.
Dated: April 16, 1984
THE EQUITABLE LIFE ASSURANCE
SOCIETY OF THE UNITED STATES
By /s/ Xxxx Xxxxx
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EQUITABLE LIFE ASSURANCE
SOCIETY OF COLORADO INC.
By /s/ [illegible]
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AMENDMENT TO THE AGREEMENT FOR COOPERATIVE AND JOINT
USE OF PERSONNEL, PROPERTY AND SERVICES BETWEEN THE EQUITABLE
LIFE ASSURANCE SOCIETY OF THE UNITED STATES AND THE
EQUITABLE OF COLORADO, INC.
Clause 4 is hereby restated and amended to read as follows:
The terms of this Agreement shall commence as of the
date hereinabove indicated and continue until December 31,
1984, and thereafter shall be deemed to be renewed
automatically upon the same terms and conditions, for
successive periods of one year each, unless sooner
terminated by either party upon furnishing the other party
with 90 days written notice of its intention to terminate
the Agreement as of the end of such 90 day period.
THE EQUITABLE LIFE ASSURANCE
SOCIETY OF THE UNITED STATES
By /s/ Xxxx Xxxxx
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Date 7-30-85
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THE EQUITABLE OF COLORADO, INC.
By /s/ Xxxxxx Xxxxx
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Date 7/30/85
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