VALUATION OF SEPARATE ACCOUNT ASSETS. A Valuation Date is any day on which the assets of the Separate Account are valued. Assets are valued as of the close of trading on the New York Stock Exchange for each day the Exchange is open. The value of the shares of each Fund held in the Separate Account on each Valuation Date will be the redemption value of the shares on that date. If the right to redeem shares of a Fund has been suspended, or if payment of the redemption value has been postponed, the shares held in the Separate Account may be valued at fair value as determined in good faith by the Board of Trustees of the Company for the sole purpose of computing annuity benefits.
Appears in 2 contracts
Sources: Group Combination Annuity (NML Variable Annuity Acct C of Northwestern Mut Life Ins Co), Group Combination Annuity (NML Variable Annuity Acct C of Northwestern Mut Life Ins Co)
VALUATION OF SEPARATE ACCOUNT ASSETS. A Valuation Date is any day on which the assets of the Separate Account are valued. Assets are valued as of the close of trading on the New York Stock Exchange for each day the Exchange is open. The value of the shares of each Fund held in the Separate Account on each Valuation Date will be the redemption value of the shares on that date. If the right to redeem shares of a Fund has been suspended, or if payment of the redemption value has been postponed, the shares held in the Separate Account may be valued at fair value as determined in good faith by the Board of Trustees of the Company for the sole purpose of computing annuity benefits.annuity
Appears in 1 contract
Sources: Group Combination Annuity (NML Variable Annuity Acct C of Northwestern Mut Life Ins Co)