Common use of Purchase and Redemption Procedures Clause in Contracts

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 9 contracts

Samples: Participation Agreement (Variable Account Ii Aig Life Insurance Co), Participation Agreement (Vel Ii Account of Allmerica Financial Life Ins & Ann Co), Participation Agreement (Vel Ii Acct of State Mutual Life Assur Co of America)

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Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an its agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) Accounts for shares of those Series or Classes made available hereunder, based on allocations transactions in units issued by an Account (or sub-account of amounts to the Account or subaccounts thereof an Account) under the Contracts, other transactions relating to the Contracts or the Account Accounts and customary processing of the Contractssuch transactions. Receipt of any such requests for transactions in Account (or effectuation of such transaction sub-account) units, or processing) other transactions relating to the Contracts or the Accounts, on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:00 a.m. New York Eastern Time on the next following Business Day (the "Notice Day"). Such notice may be communicated by telephone facsimile to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 8 contracts

Samples: Participation Agreement (Principal Life Insurance Co Variable Life Sep Account), Participation Agreement (Bma Variable Life Account A), Participation Agreement (Lincoln Benefit Life Variable Life Account)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 8:00 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 7 contracts

Samples: Participation Agreement (Protective Variable Annuity Separate Account), Participation Agreement (Goldman Sachs Variable Insurance Trust), Agreement (Metropolitan Life Separate Account Ul)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's ’s close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 8:00 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 4 contracts

Samples: Participation Agreement (Standard Insurance Co), Participation Agreement (Goldman Sachs Variable Insurance Trust), Participation Agreement (Standard Insurance Co)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:30 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 3 contracts

Samples: Participation Agreement (Group Vel Acct of 1st Allmerica Financial Life Ins Co), Participation Agreement (Group Vel Account of Allmerica Financial Life Ins & Ann Co), Form of Participation Agreement (Group Vel Account of Allmerica Financial Life Ins & Ann Co)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not nm with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the TrustTrust 's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 8:00 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 3 contracts

Samples: Form of Participation Agreement (Variable Annuity-2 Series Account), Form of Participation Agreement (Variable Annuity-2 Series Account), Form of Participation Agreement (Variable Annuity-2 Series Account)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's ’s close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that (i) with respect to the International Equity Fund, the Trust receives actual and sufficient notice of such request by 9:00 a.m. New York Time on the next following Business Day, and (ii) with respect to all other Funds listed on Schedule 3, the Trust receives actual and sufficient notice of such request by 10:00 a.m. am. New York Time on the next following Business Daytime. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 3 contracts

Samples: Participation Agreement (Massachusetts Mutual Variable Life Separate Account I), Participation Agreement (Massachusetts Mutual Variable Life Separate Account I), Participation Agreement (Massachusetts Mutual Variable Life Separate Account I)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an its agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) Accounts for shares of those Series or Classes made available hereunder, based on allocations transactions in units issued by an Account (or sub-account of amounts to the Account or subaccounts thereof an Account) under the Contracts, other transactions relating to the Contracts or the Account Accounts and customary processing of the Contractssuch transactions. Receipt of any such requests for transactions in Account (or effectuation of such transaction sub-account) units, or processing) other transactions relating to the Contracts or the Accounts, on any Business Day by the Company as such limited agent of the Trust prior to the Trust's ’s close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:00 a.m. New York Eastern Time on the next following Business Day (the “Notice Day”). Such notice may be communicated by telephone facsimile to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 2 contracts

Samples: Participation Agreement (Annuity Investors Variable Account B), Participation Agreement (Wells Fargo Variable Trust)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's ’s close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day and the Trust shall effect such requests at that Business Day’s net asset value, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:30 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 2 contracts

Samples: Participation Agreement (SBL Variable Annuity Account Xiv), Participation Agreement (SBL Variable Annuity Account Xi)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an its agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) Accounts for shares of those Series or Classes made available hereunder, based on allocations transactions in units issued by an Account (or sub-account of amounts to the Account or subaccounts thereof an Account) under the Contracts, other transactions relating to the Contracts or the Account Accounts and customary processing of the Contractssuch transactions. Receipt of any such requests for transactions in Account (or effectuation of such transaction sub-account) units, or processing) other transactions relating to the Contracts or the Accounts, on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:00 a.m. New York Time on the next following Business Day (the "Notice Day"). Such notice may be communicated by telephone facsimile to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 2 contracts

Samples: Participation Agreement (Variable Account D of Union Security Insurance Co), Participation Agreement (Hartford Life Insurance Co Separate Account Seven)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an its agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) Accounts for shares of those Series or Classes made available hereunder, based on allocations transactions in units issued by an Account (or sub-account of amounts to the Account or subaccounts thereof an Account) under the Contracts, other transactions relating to the Contracts or the Account Accounts and customary processing of the Contractssuch transactions. Receipt of any such requests for transactions in Account (or effectuation of such transaction sub-account) units, or processing) other transactions relating to the Contracts or the Accounts, on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:00 a.m. New York Eastern Time on the next following - Business Day (the "Notice Day"). Such notice may be communicated by telephone facsimile to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 2 contracts

Samples: Participation Agreement (Horace Mann Life Insurance Co Separate Account), Fund Participation Agreement (Horace Mann Life Insurance Co Separate Account)

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Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account [Accounts (but not with respect to any Trust shares that may be held in the Company's general account account)] [Schedule 1 Accounts (but not on behalf of the Schedule 2 Accounts, Schedule 3 Accounts, or the Company) 's general account)] for shares of those Series or Classes made available hereunder, based on allocations transactions in Account Units [of amounts to the Account or subaccounts thereof Schedule 1 Accounts under the Schedule 1 Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts]. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:00 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, Trust and shall be confirmed by facsimile.

Appears in 2 contracts

Samples: Participation Agreement (Genworth Life & Annuity VA Separate Account 1), Participation Agreement (Genworth Life & Annuity VA Separate Account 3)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an its agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) Accounts for shares of those Series or Classes made available hereunder, based on allocations transactions in units issued by an Account (or sub-account of amounts to the Account or subaccounts thereof an Account) under the Contracts, other transactions relating to the Contracts or the Account Accounts and customary processing of the Contractssuch transactions. Receipt of any such requests for transactions in Account (or effectuation of such transaction sub-account) units, or processing) other transactions relating to the Contracts or the Accounts, on any Business Day by the Company as such limited agent of the Trust prior to the Trust's ’s close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:00 a.m. New York Eastern Time on the next following Business Day (the “Notice Day”). Such notice may be communicated by telephone facsimile or NSCC to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 1 contract

Samples: Participation Agreement (Peoples Benefit Life Insurance Co Separate Account V)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of or amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 8:00 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 1 contract

Samples: Participation Agreement (Pruco Life of New Jersey Variable Appreciable Account)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust T rust receives actual and sufficient notice of such request by 10:00 a.m. New York Time on the next following Business Day. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 1 contract

Samples: Participation Agreement (Horace Mann Life Insurance Co Separate Account)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the the’ limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's ’s close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that (i) with respect to the International Equity Fund, the Trust receives actual and sufficient notice of such request by 9:00 a.m. New York Time on the next following Business Day, and (ii) with respect to all other Funds listed on Schedule 3, the Trust receives actual and sufficient notice of such request by 10:00 a.m. am. New York Time on the next following Business Daytime. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.. [_____] 11/1/99

Appears in 1 contract

Samples: Participation Agreement (C M Life Variable Life Separate Account I)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an its agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) Accounts for shares of those Series or Classes made available hereunder, based on allocations transactions in units issued by an Account (or sub-account of amounts to the Account or subaccounts thereof an Account) under the Contracts, other transactions relating to the Contracts or the Account Accounts and customary processing of the Contractssuch transactions. Receipt of any such requests for transactions in Account (or effectuation of such transaction sub-account) units, or processing) other transactions relating to the Contracts or the Accounts, on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that the Trust receives actual and sufficient notice of such request by 10:00 9:30 a.m. New York Time on the next following Business Day (the "Notice Day"). Such notice may be communicated by telephone facsimile to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 1 contract

Samples: Participation Agreement (Lincoln National Variable Annuity Account C)

Purchase and Redemption Procedures. (a) The Trust hereby appoints the Company as an agent of the Trust for the limited purpose of receiving purchase and redemption requests on behalf of the Account (but not with respect to any Trust shares that may be held in the general account of the Company) for shares of those Series or Classes made available hereunder, based on allocations of amounts to the Account or subaccounts thereof under the Contracts, other transactions relating to the Contracts or the Account and customary processing of the Contracts. Receipt of any such requests (or effectuation of such transaction or processing) on any Business Day by the Company as such limited agent of the Trust prior to the Trust's close of business as defined from time to time in the applicable Prospectus for such Series or Class (which as of the date of execution of this Agreement is defined as the close of regular trading on the New York Stock Exchange (normally 4:00 p.m. New York Time)) shall constitute receipt by the Trust on that same Business Day, provided that (i) with respect to the International Equity Fund, the Trust receives actual and sufficient notice of such request by 9:00 a.m. New York Time on the next following Business Day, and (ii) with respect to all other Funds listed on Schedule 3, the Trust receives actual and sufficient notice of such request by 10:00 a.m. am. New York Time on the next following Business Daytime. Such notice may be communicated by telephone to the office or person designated for such notice by the Trust, and shall be confirmed by facsimile.

Appears in 1 contract

Samples: Participation Agreement (Massachusetts Mutual Variable Life Separate Account I)

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