Variable Separate Account Assets definition
Variable Separate Account Assets means the assets held in the Variable Separate Account.
Variable Separate Account Assets means the assets held in the Variable Separate Account. “Variable Separate Account Liabilities” means for the Variable Separate Account(s), all liabilities, reserves, obligations, costs and expenses relating to, based upon or arising out of the Policies, and relating to the Variable Separate Account Assets, provided, however, that the Variable Separate Account Liabilities shall not include the General Account Liabilities, Declared Rate Separate Account or the Risk Control Separate Account Liabilities. “VSA Accumulated Value” shall have the meaning set forth in Section 3.1(b) hereof. “VSA Earnings Credit” shall have the meaning set forth in Section 3.3 hereof. “VSA Payable Liability” shall have the meaning set forth in Section 3.4 hereof. “VSA Valuation Adjustment” shall have the meaning set forth in Section 3.2 hereof.
Examples of Variable Separate Account Assets in a sentence
On a quarterly basis, or more frequently as mutually agreed by the parties, the Company will compute the investment earnings credit on a VSA (the "VSA Earnings Credit"), as determined in accordance with Schedule 3.3. The VSA Earnings Credit, whether positive or negative, reflects the change in value of the Variable Separate Account Assets, net of cash flows between a VSA and the General Account, and shall be included as part of the calculation of the periodic payment as provided for in Section 5.2.