Common use of Locked Clause in Contracts

Locked. In Funds may be transferred out from this LIRA during Your lifetime only as follows: i) to be transferred into a pension plan registered under the Tax Act; ii) to be transferred into another LIRA; iii) to be transferred into a New LIF; or iv) to purchase an immediate or deferred Annuity. We will make a transfer referred to in paragraphs i)-iv) above within 30 days after You have completed all documents for the transfer request. However, this does not apply with respect to the transfer of assets whose term of investment extends beyond the 30-day period. The transfer may be affected by transferring out any or all identifiable and transferable securities held in the LIRA, if You wish and We agree.

Locked. In Funds may be transferred out from this LIRA during Your lifetime only as follows: i) to be transferred into a pension plan registered under the Tax Act; ii) to be transferred into another LIRA; iii) to be transferred into a New LIF; or iv) to purchase an immediate or deferred Annuity. We will make a transfer referred to in paragraphs i)-iv) above within 30 days after You have completed all documents for the transfer request. However, this does not apply with respect to the transfer of assets whose term of investment extends beyond the 30-day period. The transfer may be affected effected by transferring out any or all identifiable and transferable securities held in the LIRA, if You wish and We agree.