Common use of EXEMPTIVE RELIEF Clause in Contracts

EXEMPTIVE RELIEF. 6.1 Insurance Company has reviewed a copy of the order dated December 1996 of the Securities and Exchange Commission under Section 6(c) of the Act granting the Fund the exemptive relief necessary to permit the Fund to engage in mixed and shared funding as that term is defined in the corresponding application for exemptive relief and, in particular, has reviewed the conditions to the relief set forth in the related Notice. As set forth therein, Insurance Company agrees to report any potential or existing conflicts promptly to the Board, and in particular whenever contract voting instructions are disregarded, and recognizes that it will be responsible for assisting the Board in carrying out its responsibilities under such application. Insurance Company agrees to carry out such responsibilities with a view to the interests of existing Contractholders.

EXEMPTIVE RELIEF. 6.1 Insurance Company has reviewed (i) a copy of the order dated December 1996 Order of the Securities and Exchange Commission under Section 6(c) of the 1940 Act granting dated November 21, 1988 issued to the applicants including Acacia Capital Corporation, the predecessor to the Fund (the exemptive relief necessary to permit the Fund to engage in mixed “Exemptive Order”), and shared funding as that term is defined in the corresponding application for exemptive relief and, in particular, has reviewed (ii) the conditions to the relief set forth in the related NoticeNotice of Application for Exemption dated October 24, 1988. As set forth therein, Insurance Company agrees to report any potential or existing conflicts promptly to the Board, and in particular whenever contract voting instructions are disregarded, and recognizes that it will be responsible for assisting the Board in carrying out its responsibilities under such applicationapplication by, among other things, providing the Board with all information reasonably necessary for the Board to consider any issues raised. Insurance Company agrees to carry out such responsibilities with a view only to the interests of existing Contractholders.