Common use of VALIC Clause in Contracts

VALIC. VALIC shall perform the services described herein, with respect to the Funds identified in Schedule A hereto, in accordance with procedures established from time to time by agreement of the Trust and VALIC, and between VALIC and the Contract owners and participants, in each case subject to terms and conditions set forth in the Trust's current prospectus. Except as specifically provided herein, VALIC shall not be nor be held out to be an agent of the Trust or any Fund. (a) According to Contract provisions and various other agreements entered into between VALIC and Contract owners and participants, VALIC shall receive from these Contract owners and participants, or their authorized sponsors, committees, or trustees, by the close of regular trading on the New York Stock Exchange (the "Close of Trading") each business day that the New York Stock Exchange is open for business ("Business Day") instructions for the purchase, redemption and exchange of Shares (together, "Instructions"); (b) Based on Instructions received each Business Day, VALIC shall compute net purchase requests and/or net redemption requests ("Requests") for Shares of each Fund for each the Instructions received various Contract owners and participants; (c) VALIC shall maintain records as required by applicable law related to, and advise the Trust as to, the foregoing, as instructed by the Trust. VALIC agrees that such records maintained by it in connection with its activities under this Agreement will be preserved, maintained and made available in accordance with applicable law and regulations, and copies or, if required, originals will be surrendered promptly to the Trust on and in accordance with its request. Records surrendered hereunder shall be in machine readable form, except to the extent that VALIC has maintained such records only in paper form. This provision shall survive the termination of this Agreement; (d) VALIC shall transmit Requests to the Trust or its agent by the Close of Trading each Business Day. Such Requests shall be based solely on Instructions received in proper form by VALIC from the Contract owners and participants, and/or their authorized sponsors, committees, or trustees, according to Contract provisions and various other agreements with the Contract owners and participants. Instructions received by VALIC after the Close of Trading on any Business Day shall be treated as though received on the next Business Day. VALIC shall maintain internal controls reasonably designed to prevent Instructions received after the Close of Trading on any Business Day from being aggregated with any Request transmitted or

VALIC. VALIC shall perform the services described herein, with respect to the Funds identified in Schedule A hereto, in accordance with procedures established from time to time by agreement of the Trust and VALIC, and between VALIC and the Contract owners and participants, in each case subject to terms and conditions set forth in the Trust's current prospectus. Except as specifically provided herein, VALIC shall not be nor be held out to be an agent of the Trust or any Fund. (a) According to Contract provisions and various other agreements entered into between VALIC and Contract owners and participants, VALIC shall receive from these Contract owners and participants, or their authorized sponsors, committees, or trustees, by the close of regular trading on the New York Stock Exchange (the "Close of Trading") each business day that the New York Stock Exchange is open for business ("Business Day") instructions for the purchase, redemption and exchange of Shares (together, "Instructions"); (b) Based on Instructions received each Business Day, VALIC shall compute net purchase requests and/or net redemption requests ("Requests") for Shares of each Fund for each the Instructions received various Contract owners and participants; (c) VALIC shall maintain records as required by applicable law related to, and advise the Trust as to, the foregoing, as instructed by the Trust. VALIC agrees that such records maintained by it in connection with its activities under this Agreement will be preserved, maintained and made available in accordance with applicable law and regulations, and copies or, if required, originals will be surrendered promptly to the Trust on and in accordance with its request. Records surrendered hereunder shall be in machine readable form, except to the extent that VALIC has maintained such records only in paper form. This provision shall survive the termination of this Agreement; (d) VALIC shall transmit Requests to the Trust or its agent by the Close of Trading each Business Day. Such Requests shall be based solely on Instructions received in proper form by VALIC from the Contract owners and participants, and/or their authorized sponsors, committees, or trustees, according to Contract provisions and various other agreements with the Contract owners and participants. Instructions received by VALIC after the Close of Trading on any Business Day shall be treated as though received on the next Business Day. VALIC shall maintain internal controls reasonably designed to prevent Instructions received after the Close of Trading on any Business Day from being aggregated with any Request transmitted oror otherwise communicated to the Trust as if it were received prior to the Close of Trading; (e) VALIC shall transmit Requests in proper form to the Trust or its agent by no later than 9:00 AM Eastern Time on the next following Business Day. The Business Day on which instructions are received in proper form by VALIC prior to the Close of Trading will be the Business Day as of which Requests will be deemed received by the Trust or its agent. For purposes of Section 1.01(d) and this Section 1.01(e), proper form shall that amounts to be invested or redeemed are identified on VALIC's computer system by Contract, Contract owners and participants, and Fund; and (f) VALIC shall promptly deliver, or instruct the authorized sponsor, committee, or trustees of the Contracts, to deliver to the Trust or its agent, appropriate documentation and in the case of Requests, payment therefor.