PERMITTED ASSETS. BB&T and Advisors agree to review the assets of the Sterling Fund to ensure that at any time prior to the Exchange Date the assets of the Sterling Fund do not include any assets that the BB&T Fund is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by the Sterling Fund, is unsuitable for the BB&T Fund to acquire.
PERMITTED ASSETS. BB&T Variable Insurance Funds and Large Cap Growth VIF will agree to review the assets of Large Cap Growth VIF to ensure that at any time prior to the Exchange Date the assets of Large Cap Growth VIF do not include any assets that Large Cap VIF is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by Large Cap Growth VIF, is unsuitable for Large Cap VIF to acquire.
PERMITTED ASSETS. Fifth Third and Kent agree to review the assets of the Kent Funds to ensure that at any time prior to the Exchange Date the assets of any Kent Fund do not include any assets that the corresponding Fifth Third Fund is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by any Kent Fund, is unsuitable for the corresponding Fifth Third Fund to acquire.
PERMITTED ASSETS. (a) The assets of the Trust Account and any investments and reinvestments thereof, shall consist solely of (i) cash (United States legal tender), (ii) certificates of deposit that are both payable in United States legal tender and issued by a United States bank that is included on the National Association of Insurance Commissioner’s (“NAIC”) List of Qualified U.S. Financial Institutions, (iii) securities issued in the United States that are investments of the types specified in paragraphs (1) or (2) of subsection (a) of Section 1404 of the New York Insurance Law, as amended, and which are rated “NAIC 1” by the Securities Valuation Office of the NAIC, or (iv) any combination of the foregoing, subject to reasonable and prudent standards for necessary liquidity and yield (collectively, “Permitted Assets”), provided that such investments are issued by an institution that is not the parent, subsidiary or an affiliate of either of the Company or the Reinsurer. The Reinsurer shall transfer only Permitted Assets into the Trust Account.
PERMITTED ASSETS. BB&T Funds and Large Cap Growth Fund will agree to review the assets of Large Cap Growth Fund to ensure that at any time prior to the Exchange Date the assets of Large Cap Growth Fund do not include any assets that Large Cap Fund is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by Large Cap Growth Fund, is unsuitable for Large Cap Fund to acquire.
PERMITTED ASSETS. HighMark and Current Income agree to review the assets of Current Income to ensure that at any time prior to the Exchange Date the assets of Current Income do not include any assets that the Bond Fund is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by Current Income, is unsuitable for the Bond Fund to acquire.
PERMITTED ASSETS. HighMark agrees to advise Stepstone promptly if at any time prior to the Exchange Date the assets of any Stepstone Fund include any assets that the corresponding HighMark Fund is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by any Stepstone Fund, HighMark has informed Stepstone is unsuitable for the corresponding HighMark Fund to acquire.
PERMITTED ASSETS. One Group agrees to advise Marquis promptly if at any time prior to the Exchange Date the assets of any Marquis Fund include any assets that the corresponding One Group Fund is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by any Marquis Fund, One Group has informed Marquis is unsuitable for the corresponding One Group Fund to acquire.
PERMITTED ASSETS. BB&T and Arbor agree to review the assets of the OVB Funds to ensure that at any time prior to the Exchange Date the assets of any OVB Fund do not include any assets that the corresponding BB&T Fund is not permitted, or reasonably believes to be unsuitable for it, to acquire, including without limitation any security that, prior to its acquisition by any OVB Fund, is unsuitable for the corresponding BB&T Fund to acquire.
PERMITTED ASSETS. The Company will not cause the Trust to acquire any assets other than Permitted Assets.
