Common use of Initial Allocation Clause in Contracts

Initial Allocation. For purposes of allocating the proceeds of coverage among the Parties, the following procedures shall be followed: Each Party involved in an insured loss during a Policy year shall receive a portion of the proceeds (in all cases, after application of any deductible), equal to the lesser of (i) the amount of that Party’s insured loss, or (ii) an amount equal to the product of the limits multiplied by a fraction, the numerator of which is one, and the denominator of which is: (A) two, for EquiTrust Investment Management Services, Inc.; (B) five, for each of EquiTrust Series Fund, Inc. and EquiTrust Variable Insurance Series Fund; and (C) ten, for EquiTrust Money Market Fund, Inc.

Initial Allocation. For purposes of allocating the proceeds of coverage among the Parties, the following procedures shall be followed: Each Party involved in an insured loss during a Policy year shall receive a portion of the proceeds (in all cases, after application of any deductible), equal to the lesser of (i) the amount of that Party’s insured loss, or (ii) an amount equal to the product of the limits multiplied by a fraction, the numerator of which is one, and the denominator of which is: (A) twotwo and one-half, for EquiTrust Investment Management Services, Inc.; (B) five, for each of EquiTrust Series Fund, Inc. and EquiTrust Variable Insurance Series Fund; and (C) ten, for each of EquiTrust Marketing Services, LLC and EquiTrust Money Market Fund, Inc.