Common use of Complaints and Proceedings Clause in Contracts

Complaints and Proceedings. (a) The Fund and/or the Underwriter shall immediately notify ING of: (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order (but not including an order of a regulatory body exempting or approving a proposed transaction or arrangement) with respect to the Fund's registration statement or the prospectus of any Portfolio; (ii) any request by the SEC for any amendment to the Fund's registration statement or the prospectus of any Portfolio; (iii) the initiation of any proceedings for that purpose or for any other purposes relating to the registration or offering of the Fund's shares; or (iv) any other action or circumstances that may prevent the lawful offer or sale of Fund shares in any state or jurisdiction, including, without limitation, any circumstance in which (A) such shares are not registered and, in all material respects, issued and sold in accordance with applicable state and federal law or (B) such law precludes the use of such shares as an underlying investment medium for the Contracts. The Fund will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.

Complaints and Proceedings. (a) The Fund Trust and/or the Underwriter Distributor shall immediately notify ING the Company of: (i) the issuance by any court or regulatory body of any stop order, cease and desist order, or other similar order (but not including an order of a regulatory body exempting exemption or approving a proposed transaction or arrangementapproval) with respect to the FundTrust's registration statement Registration Statement or the prospectus of any PortfolioTrust's Prospectus; (ii) any request by the SEC for any amendment to the FundTrust's registration statement Registration Statement or the prospectus of any PortfolioTrust's Prospectus; (iii) the initiation of any proceedings Proceedings for that purpose or for any other purposes relating to the registration or offering of the Fund's Trust shares; or (iv) any other action or circumstances that may prevent the lawful offer or sale of Fund Trust shares or any Class or Series in any state or jurisdiction, including, without limitation, any circumstance in which (A) such shares are not registered and, in all material respects, issued and sold in accordance with applicable state and federal law or (B) such law precludes the use of such shares as an underlying investment medium for the Contracts. The Fund Trust will make every reasonable effort to prevent the issuance of any such stop order, cease and desist order or similar order and, if any such order is issued, to obtain the lifting thereof at the earliest possible time.