Common use of FUNDS AND PORTFOLIOS Clause in Contracts

FUNDS AND PORTFOLIOS. The Company may make new Portfolios or Funds available for investment of Separate Account assets. When permitted by law and subject to any approvals that may be required by regulatory authorities, the Company reserves the right to eliminate a Portfolio or Fund and to substitute another Portfolio or Fund if the shares of the Portfolio or Fund are no longer available for investment or, in its judgment, further investment in the Portfolio or Fund is no longer appropriate in view of the purpose of the Separate Account. A Portfolio or Fund may no longer be appropriate due to a change in laws or regulations, a change in the Portfolio’s or Fund’s investment, administrative or other policies, or for some other reason. In the event of a substitution or change, the Company may make appropriate endorsement of this and other variable annuity contracts supported by the Separate Account and take other actions as may be necessary to effect the substitution or change.

FUNDS AND PORTFOLIOS. The Company may make new Portfolios or Funds available for investment of Separate Account assets. When permitted by law and subject to any approvals that may be required by regulatory authorities, the Company reserves the right to eliminate a Portfolio or Fund fund and to substitute another Portfolio or Fund if the shares of the Portfolio or Fund are no longer available for investment or, in its judgment, further investment in the Portfolio or Fund is no longer appropriate in view of the purpose of the Separate Account. A Portfolio or Fund may no longer be appropriate due to a change in laws or regulations, a change in the Portfolio’s Portfolio s or Fund’s investment, administrative or other policies, or for some other reason. In the event of a substitution or change, the Company may make appropriate endorsement of this and other variable annuity contracts supported by the Separate Account and take other actions as may be necessary to effect the substitution or change.