POTENTIAL MATERIAL CONFLICTS. 7.1. To the extent required by applicable law or the Mixed and Shared Funding Exemptive Order, the Fund agrees that it will monitor the Fund for the existence of any material irreconcilable conflict between the interests of the variable annuity contract owners and the variable life insurance policy owners of the Company and/or affiliated companies (“contract owners”) investing in the Fund. The Board shall have the sole authority to determine if a material irreconcilable conflict exists, and such determination shall be binding on the Company only if approved in the form of a resolution by a majority of the Board, or a majority of the disinterested Trustees of the Board. The Fund will give prompt notice of any such determination to the Company.
Appears in 4 contracts
Samples: Participation Agreement (First Symetra National Life Insurance Co of Ny Sep Acct S), Participation Agreement (Merger Fund Vl), Participation Agreement (Symetra Resource Variable Account B)
