For the purposes. of Sections 1.1 and 1.2, the Trust hereby appoints the Company as its agent for the limited purpose of receiving and accepting purchase and redemption orders resulting from investment in and payments under the Contracts. Receipt by the Company shall constitute receipt by the Trust provided that i) such orders are received by the Company in good order prior to the time the net asset value of each Portfolio is priced in accordance with its prospectus and ii) the Trust receives notice of such orders by 10:00 a.m. New York time on the next following Business Day. The Trust will confirm receipt of each trade in a manner mutually agreeable to the Trust and the Company. "Business Day" shall mean any day on which the New York Stock Exchange is open for trading and on which the Trust calculates its net asset value pursuant to the rules of the Securities and Exchange Commission.
Appears in 8 contracts
Samples: Fund Participation Agreement (Lincoln Life & Annuity Var Ann Sep Acct L Group Var Ann I), Janus Aspen Series (Lincoln Life Varibale Annuity Account Q), Fund Participation Agreement (Lincoln National Variable Annuity Account C)
