Eastern time each Business Day. 1.9 The Trust agrees that its Portfolio shares will be sold only to Participating Insurance Companies and their separate accounts and to certain qualified pension and retirement plans to the extent permitted by the Shared Funding Exemptive Order. No shares of any Portfolio will be sold directly to the general public. The Company agrees that it will use Trust shares only for the purposes of funding the Contracts through the Accounts listed in Schedule A, as amended from time to time.
Eastern time each Business Day. 1.11 For purposes of Articles 1 and 4, the Fund or the Adviser shall be liable to the Company for any amount the Company is required to pay to contractowners or participants due to (i) an in correct calculation of a Fund's daily net asset value, dividend rate, or capital gain distribution rate or (ii) incorrect or late reporting of the daily net asset value, capital gain distribution rate of a Fund, upon written notification by the Company, with supporting data, to the Adviser. In addition, the Fund or the Adviser shall be liable to the Company for systems and out of pocket costs incurred by the Company in making a contractowner's or participant's account whole, if such costs or expenses are a result of the Fund's failure to provide timely or correct net asset values, dividend and capital gains or financial information and if such information is not corrected by 4 p.m. EST of the next business day after releasing such incorrect information provided the incorrect NAV as well as the correct NAV for each day that the error occurred is provided. If a mistake is caused in supplying such information or confirmations, which results in a reconciliation with incorrect information, the amount required to make a contractowner's or participant's account whole shall be borne by the party providing the incorrect information, regardless of when the error is corrected.
Eastern time each Business Day. 1.9 The Trust agrees that its Portfolio shares will be sold only to Participating Insurance Companies and their separate accounts and to certain qualified pension and retirement plans to the extent permitted by the Shared Funding Exemptive Order. The Trust will periodically furnish to the Company on request the names of the Participating Insurance Companies who offer variable life insurance policies and variable annuity contracts registered under the 1933 Act which use Trust shares as underlying investments. No shares of any Portfolio will be sold directly to the general public. The Company agrees that it will use Trust shares only for the purposes of funding the Contracts through the Accounts listed in Schedule A, as amended from time to time.
Eastern time each Business Day. If the Fund provides the Company materially incorrect NAV per share information (as determined under SEC guidelines), the Company shall be entitled to an adjustment to the number of shares purchased or redeemed to reflect the correct NAV per share. Any material error in the calculation or reporting ofNAV per share, dividend or capital gain information shall be reported to the Company upon discovery by the Fund. 2013-04-FIVIT 3
Eastern time each Business Day. If the Fund provides Phoenix materially incorrect NAV per share information (as determined under SEC guidelines), Phoenix shall be entitled to an adjustment to the number of shares purchased or redeemed to reflect the correct NAV per share. Any material error in the calculation or reporting of NAV per share, dividend or capital gain information shall be reported to Phoenix upon discovery by the Fund.
