Order Placement and Payment. 1. Insurer shall determine the net amount to be transmitted to the Separate Accounts as a result of redemptions of each Portfolio’s shares based on Contract owner redemption requests and shall disburse or credit to the Separate Accounts all proceeds of redemptions of Portfolio shares. Insurer shall notify JHVIT of the cash required to meet redemption payments. 2. Insurer shall determine the net amount to be transmitted to JHVIT as a result of purchases of Portfolio shares based on Contract owner purchase payments and transfers allocated to the Separate Accounts investing in each Portfolio. Insurer shall transmit net purchase payments to JHVIT’s custodian.
Appears in 2 contracts
Sources: Administrative Services Agreement (Jefferson National Life Annuity Account G), Administrative Services Agreement (Thrivent Variable Annuity Account I)