Common use of Servicing Fees Clause in Contracts

Servicing Fees. The provision of shareholder and administrative services to contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional or the Nominee and shall not be the responsibility of Distributor or Aston. The Nominee, or ING Life on behalf of its Separate Accounts, will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor agrees to pay to ING Life or ING Institutional, as appropriate, a servicing fee (“Servicing Fee”), as specified in Schedule A (attached), based on the average net assets invested in the Funds through the Contracts or through ING Life’s or ING Institutional’s arrangements with Plans in each calendar quarter. Advisor will make such payments to ING Life or ING Institutional within thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional for the quarter and such other supporting data as may be reasonably requested by ING Life or ING Institutional. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts in a Plan all or a portion of such Servicing Fees, or to use Servicing Fees it collects from Advisor to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 3 contracts

Samples: Selling and Services Agreement and Fund Participation Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co), Selling and Services Agreement and Fund Participation Agreement (Variable Annuity Account I of Ing Life Insurance & Annuity Co), Selling and Services Agreement and Fund Participation Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co)

AutoNDA by SimpleDocs

Servicing Fees. The provision of shareholder and administrative services to contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional or the Nominee and shall not be the responsibility of Distributor Distributor, Advisor or Astonthe Trust. The Nominee, or ING Life on behalf of its Separate Accounts, will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor agrees to pay to ING Life or ING Institutional, as appropriate, a servicing fee (“Servicing Fee”), as specified in Schedule A (attached), based on the average net assets invested in the Funds through the Contracts or through ING Life’s or ING Institutional’s arrangements with Plans in each calendar quarter. Advisor will make such payments to ING Life or ING Institutional within thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional for the quarter and such other supporting data as may be reasonably requested by ING Life or ING Institutional. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts in a Plan all or a portion of such Servicing Fees, or to use Servicing Fees it collects from Advisor to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 2 contracts

Samples: Selling and Services Agreement (VARIABLE ANNUITY ACCT C OF VOYA RETIREMENT INSURANCE & ANNUITY Co), Selling and Services Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co)

Servicing Fees. The provision of shareholder and administrative services to contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional or the Nominee and shall not be the responsibility of Distributor or Astonthe Distributor. The Nominee, or ING Life on behalf of its Separate Accounts, will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor Distributor agrees to pay to ING Life or ING Institutional, as appropriate, a administrative servicing fee (“Servicing Fee”)fee, as specified in Schedule A B (attached), based on the annual rate of the average net assets invested in the Funds through the Contracts or through ING Life’s 's or ING Institutional’s 's arrangements with Plans in each calendar quarter. Advisor Distributor will be invoiced and will make such payments to ING Life or ING Institutional within thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional for the quarter and such other supporting data as may be reasonably requested by ING Life or ING Institutional. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts in a Plan all or a portion of such Servicing Feesservicing fees, or to use Servicing Fees servicing fees it collects from Advisor Distributor to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 2 contracts

Samples: Participation Agreement (VARIABLE ANNUITY ACCT C OF VOYA RETIREMENT INSURANCE & ANNUITY Co), Participation Agreement (VARIABLE ANNUITY ACCT C OF VOYA RETIREMENT INSURANCE & ANNUITY Co)

Servicing Fees. The provision of shareholder and administrative services to contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional or the Nominee and shall not be the responsibility of Distributor or AstonAdviser. The Nominee, or ING Life on behalf of its Separate Accounts, will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor Adviser and/or Fund(s) agrees to pay to ING Life or ING Institutional, as appropriate, a servicing fee (“Servicing Fee”)fee, as specified in Schedule A (attached), based on the average net assets invested in the Funds through the Contracts or through ING Life’s or ING Institutional’s arrangements with Plans in each calendar quarter. Advisor The parties agree that all or a portion of such servicing fee may be derived from a Fund’s 12b-1 plan. Adviser will make such payments to ING Life or ING Institutional within thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional for the quarter and such other supporting data as may be reasonably requested by ING Life or ING Institutional. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts in a Plan all or a portion of such Servicing Feesservicing fees, or to use Servicing Fees servicing fees it collects from Advisor Adviser to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 2 contracts

Samples: Selling and Services Agreement (VARIABLE ANNUITY ACCT C OF VOYA RETIREMENT INSURANCE & ANNUITY Co), Selling and Services Agreement (VARIABLE ANNUITY ACCT C OF VOYA RETIREMENT INSURANCE & ANNUITY Co)

Servicing Fees. The provision of shareholder and administrative services to contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional or the Nominee and shall not be the responsibility of Distributor the Funds, the Advisor, or Astonthe Distributor. The Nominee, or ING Life on behalf of its Separate Accounts, will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor agrees to pay to ING Life or ING Institutional, as appropriate, a administrative servicing fee (“Servicing Fee”)fee, as specified in Schedule A C (attached), based on the average net assets invested in the Funds through the Contracts or through ING Life’s or ING Institutional’s arrangements with Plans in each calendar quarter. Advisor will make such payments to ING Life or ING Institutional within thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional for the quarter and such other supporting data as may be reasonably requested by ING Life or ING Institutional. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts in a Plan all or a portion of such Servicing Feesservicing fees, or to use Servicing Fees servicing fees it collects from Advisor to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 2 contracts

Samples: Agreement and Participation Agreement (VARIABLE ANNUITY ACCT C OF VOYA RETIREMENT INSURANCE & ANNUITY Co), Variable Annuity Acct C of Ing Life Insurance & Annuity Co

Servicing Fees. The provision of shareholder and administrative services to contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional or the Nominee and shall not be the responsibility of Distributor or AstonDistributor. The Nominee, or ING Life on behalf of its Separate Accounts, will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor Distributor agrees to pay to ING Life or ING Institutional, as appropriate, a servicing fee (“Servicing Fee”which may be paid as a shareholder service fee, sub- accounting fee, or from the legitimate profits of Xxxx Xxxxx Management, Inc.), as specified in Schedule A C (attached), based on the average net assets invested in the Funds through the Contracts or through ING Life’s or ING Institutional’s arrangements with Plans in each calendar quarter. Advisor The parties agree that all or a portion of such servicing fee may be derived from a Fund’s 12b-1 plan. Distributor will make such payments to ING Life or ING Institutional within thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional for the quarter and such other supporting data as may be reasonably requested by ING Life or ING Institutional. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts in a Plan all or a portion of such Servicing Feesservicing fees, or to use Servicing Fees servicing fees it collects from Advisor Distributor to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 1 contract

Samples: Participation Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co)

AutoNDA by SimpleDocs

Servicing Fees. The provision of shareholder and administrative services to contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional or the Nominee and shall not be the responsibility of Distributor or AstonCRM. The Nominee, or ING Life on behalf of its Separate Accounts, will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor CRM agrees to pay to ING Life or ING Institutional, as appropriate, a servicing fee (“Servicing Fee”), as specified in Schedule A (attached), based on the average net assets invested in the Funds through the Contracts or through ING Life’s or ING Institutional’s arrangements with Plans in each calendar quarter. Advisor CRM will make such payments to ING Life or ING Institutional within thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional for the quarter and such other supporting data as may be reasonably requested by ING Life or ING Institutional. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts in a Plan all or a portion of such Servicing Fees, or to use Servicing Fees it collects from Advisor to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 1 contract

Samples: Selling and Services Agreement and Fund Participation Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co)

Servicing Fees. The provision of shareholder and administrative services to contract Contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional or the Nominee and shall not be the responsibility of Distributor or AstonDistributor. The Nominee, or ING Life on behalf of its Separate Accounts, will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor Distributor agrees to pay or will cause to be paid to ING Life or ING Institutional, as appropriate, a servicing fee (“Servicing Fee”)fee, as specified in Schedule A (attached)A, based on the average net assets invested in the Funds through the Contracts or through ING Life’s or ING Institutional’s arrangements with Plans in each calendar quarter. Advisor Distributor will make make, or cause to be made, such payments to ING Life or ING Institutional within thirty (30) days after the end of each calendar quarter. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional for the quarter and such other supporting data as may be reasonably requested by ING Life or ING Institutional. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts Accounts in a Plan all or a portion of such Servicing Feesservicing fees, or to use Servicing Fees servicing fees it collects from Advisor Distributor to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 1 contract

Samples: Selling, Services And (Variable Annuity Acct C of Ing Life Insurance & Annuity Co)

Servicing Fees. The provision of shareholder and administrative services to contract owners or to the Plans shall be the responsibility of ING Financial, ING Life, ING Institutional Institutional, or the Nominee and shall not be the responsibility of Distributor or AstonDistributor. The Nominee, or ING Life on behalf of its Separate Accounts, Nominee will be recognized as the sole shareholder of Fund shares purchased under this Agreement. It is further recognized that there will be a substantial savings in administrative expense and recordkeeping expenses by virtue of having one shareholder rather than multiple shareholders. In consideration of the administrative savings resulting from such arrangement, Advisor the Fund agrees to pay to ING Life or ING Institutional, as appropriate, Institutional a servicing fee (“Servicing Fee”), as specified in Schedule A (attached), based on an annual rate of the average net assets invested in the Funds through the Contracts or Fund through ING Life’s or ING Institutional’s arrangements with Plans in each calendar quarter, as described in Schedule B, attached hereto and made a part hereof. Advisor will make such payments to ING Life or ING Institutional within Within thirty (30) days after the end of each calendar quarterquarter the Fund shall provide ING Life or ING Institutional with a statement showing the aggregate value of ING Life’s or ING Institutional’s accounts for the preceding quarter and include therewith a payment to ING Life or ING Institutional for the compensation due in accordance with this paragraph. Each payment will be accompanied by a statement showing the calculation of the fee payable to ING Life or ING Institutional Financial for the quarter and such other supporting data as may be reasonably requested by ING Life or ING InstitutionalFinancial. If required by a Plan or by applicable law, ING Life or ING Institutional shall have the right to allocate to a Plan or to Participant accounts in a Plan all or a portion of such Servicing Feesservicing fees, or to use Servicing Fees servicing fees it collects from Advisor the Fund to offset other fees payable by the Plan to ING Life or ING Institutional.

Appears in 1 contract

Samples: Selling and Services Agreement and Fund Participation Agreement (Variable Annuity Acct C of Ing Life Insurance & Annuity Co)

Time is Money Join Law Insider Premium to draft better contracts faster.