Common use of Order Placement and Payment Clause in Contracts

Order Placement and Payment. 1. Company shall determine the net amount to be transmitted to the Variable Accounts as a result of redemptions of each Portfolio’s shares based on Contract Owner redemption requests and shall disburse or credit to the Variable Accounts all proceeds of redemptions of Portfolio shares. Company shall notify the Fund of the cash required to meet redemption payments. 2. Company shall determine the net amount to be transmitted to the Fund as a result of purchases of Portfolio shares based on Contract Owner purchase payments and transfers allocated to the Variable Accounts investing in each Portfolio. Company shall transmit net purchase payments to the Fund’s custodian.

Order Placement and Payment. 1. Company shall determine the net amount to be transmitted to the Variable Accounts as a result of redemptions of each Portfolio’s 's shares based on Contract Owner owner redemption requests and shall disburse or credit to the Variable Accounts all proceeds of redemptions of Portfolio shares. Company shall notify the Fund of the cash required to meet redemption payments. 2. Company shall determine the net amount to be transmitted to the Fund as a result of purchases of Portfolio shares based on Contract Owner owner purchase payments and transfers allocated to the Variable Accounts investing in each Portfolio. Company shall transmit net purchase payments to the Fund’s 's custodian.