Common use of Additional Records Clause in Contracts

Additional Records. ADMINISTRATOR and SDI shall keep detailed accounts and records of all activities carried out, and all costs and expenses incurred, by them in their performance of their obligations under this Agreement, including (a) records of Reimbursable Expenses and authorized expenses paid on behalf of COMMONWEALTH or a CLIENT, (b) records required to be made with respect to transactions performed on behalf of COMMONWEALTH or CLIENTS pursuant to Rule 17a-3 and Rule 17a-4 under the Securities Exchange Act of 1934, as amended, or any successor provisions to the foregoing, and (c) all other documents, reports, records, books, files, and other materials not included within the Books and Records which are created by ADMINISTRATOR and SDI to document their performance of this Agreement and the Services and Brokerage Services hereunder or regarding COMMONWEALTH or a CLIENT's policyholders, annuityholders and certificateholders (collectively the "Additional Records"). ADMINISTRATOR and SDI shall preserve the Additional Records described in (b) for the periods required by such rules or such longer period as reasonably requested by COMMONWEALTH or in the event of any action, claim or proceeding to which a COMMONWEALTH or a CLIENT is subject involving such records and shall preserve the Additional Records described in (a) and (c) during the Term and for a period of at least three years following the Term.