Common use of Fund Record Units -- Separate Account Clause in Contracts

Fund Record Units -- Separate Account. The portion of the Net Purchase Payment(s) applied to the Separate Account will determine the number of each Fund’s Record Units. This number is equal to the Net Purchase Payment applied to the Fund divided by the Fund Record Unit Value (see 3.05) for the Valuation Period in which the Purchase Payment is received in good order. GC401-IB(X-M)-22 [11]

Fund Record Units -- Separate Account. The portion of the Net Purchase Payment(s) applied to the Separate Account will determine the number of each Fund’s Record Units. This number is equal to the Net Purchase Payment applied to the Fund divided by the Fund Record Unit Value (see 3.053.06) for the Valuation Period in which the Purchase Payment is received in good order. GC401-IB(X-M)-22 [11].