Common use of PAYMENTS UNDER THE CONTRACT Clause in Contracts

PAYMENTS UNDER THE CONTRACT. Payment generally will be made within seven days, but we may defer payment if: (a) The New York Stock Exchange is closed; (b) Trading on the New York Stock Exchange is restricted; (c) An emergency exists such that it is not reasonably practical to dispose of securities in the applicable Variable Account or to determine the value of its assets; (d) The Securities and Exchange Commission by order so permits for the protection of security holders; or (e) Payment is derived from a check used to pay a Premium which has not cleared through the banking system. Conditions (b) and (c) will be decided by or in accordance with rules of the Securities and Exchange Commission. Transfers also may be deferred upon the occurrence of any of the events described above.

PAYMENTS UNDER THE CONTRACT. Payment generally will be made within seven days, but we may defer payment if: (a) The New York Stock Exchange is closed; (b) Trading on the New York Stock Exchange is restricted; (c) An emergency exists such that it is not reasonably practical to dispose of securities in the applicable Variable Account or to determine the value of its assets; (d) The Securities and Exchange Commission by order so permits for the protection of security holders; or (e) Payment is derived from a check used to pay a Premium which has not cleared through the banking system. Conditions (b) and (c) will be decided by or in accordance with rules of the Securities and Exchange Commission. Transfers also may be deferred upon the occurrence of any of the events described descAbed above.