Daily Valuation Processing Clause Samples

Daily Valuation Processing. Each day, Administrator shall compute the then current value for each funding option of a Policy affected by one or more Policy transactions for that day. "Policy transactions" for these purposes shall include, but not be limited to, premium payments, funding option transfers, partial or full surrenders, or Policy loan disbursements which affect the total number of units or the Unit Asset Value ("UV") of any variable funding option under a Policy. Administrator shall make such computations and transmit same to Carrier by Interface no later than midnight on each day the New York Stock Exchange is open for business or as otherwise specified in the prospectus of each VUL.