Common use of Voting Privileges Clause in Contracts

Voting Privileges. The Company shall be responsible for assuring that its separate account or accounts participating in the Fund shall use a calculation method of voting procedures substantially the same as the following: those Participants permitted to give instructions and the number of Shares for which instructions may be given will be determined as of the record date for the Fund shareholders' meeting, which shall not be more than 60 days before the date of the meeting. Whether or not voting instructions are actually given by a particular Participant, all Fund shares held in any separate account or sub-account thereof and attributable to policies or contracts will be voted for, against, or withheld from voting on any proposition in the same proportion as (i) the aggregate record date cash value held in such sub-account for policies or contracts giving instructions, respectively, to vote for, against, or withhold votes on such proposition, bears to (ii) the aggregate record date cash value held in the sub-account for all policies or contracts for which voting instructions are received. Owners of policies or contracts continued in effect under lapse options will not be permitted to give voting instructions. Shares held in any other insurance company general or separate account or sub-account thereof will be voted in the proportion specified in the second preceding sentence for shares attributable to policies or contracts. The Company will provide pass-through voting privileges as required by Paragraph 6 of this Agreement and to all owners of Variable Insurance Products which are registered under the Act and/or the 1940 Act so long as the SEC continues to interpret the 1940 Act as requiring pass-through voting privileges. The owners of Variable Insurance Products to whom the Company will provide pass-through voting privileges pursuant to this Agreement are hereinafter referred to as "Pass-through Voters". Accordingly, the Company, when applicable, will distribute to Pass-through Voters all proxy material furnished and will vote

Appears in 1 contract

Sources: Participation Agreement (Kemper Investors Life Insurance Co)

Voting Privileges. The Company shall be responsible for assuring that its separate account or accounts participating in the Fund shall use a calculation method of voting procedures substantially the same as the following: those Participants permitted to give instructions and the number of Shares for which instructions may be given will be determined as of the record date for the Fund shareholders' meeting, which shall not be more than 60 days before the date of the meeting. Whether or not voting instructions are actually given by a particular Participant, all Fund shares held in any separate account or sub-account thereof and attributable to policies or contracts will be voted for, against, or withheld from voting on any proposition in the same proportion as (i) the aggregate record date cash value held in such sub-account for policies or contracts giving instructions, respectively, to vote for, against, or withhold votes on such proposition, bears to (ii) the aggregate record date cash value held in the sub-account for all policies or contracts for which voting instructions are received. Owners of policies or contracts continued in effect under lapse options will not be permitted to give voting instructions. Shares held in any other insurance company general or separate account or sub-account thereof will be voted in the proportion specified in the second preceding sentence for shares attributable to policies or contracts. The Company will provide pass-through voting privileges as required by Paragraph 6 of this Agreement and to all owners of Variable Insurance Products which are registered under the Act and/or the 1940 Act so long as the SEC continues to interpret the 1940 Act as requiring pass-through voting privileges. The owners of Variable Insurance Products to whom the Company will provide pass-through voting privileges pursuant to this Agreement are hereinafter referred to as "Pass-through Voters". Accordingly, the Company, when applicable, will distribute to Pass-through Voters all proxy material furnished and will votevote Shares of the Portfolios held in its Account(s) in a manner consistent with voting instructions timely received from Pass-through Voters. The Company will vote Shares for which it has not received timely voting instructions, as well as Shares it owns, in the same proportion as it votes those Shares for which it has received voting instructions. The Company reserves the right to disregard the voting instructions of Pass-through Voters to the extent such action is permitted by Rules 6e-2 or 6e-3(T) under the 1940 Act and is permitted under applicable state insurance laws affecting Fund.

Appears in 1 contract

Sources: Participation Agreement (Kilico Variable Annuity Separate Account)

Voting Privileges. The Company shall be responsible for assuring that its separate account or accounts participating in the Fund shall use a calculation method of voting procedures substantially the same as the following: those Participants permitted to give instructions and the number of Shares for which instructions may be given will be determined as of the record date for the Fund shareholders' meeting, which shall not be more than 60 days before the date of the meeting. Whether or not voting instructions are actually given by a particular Participant, all Fund shares held in any separate account or sub-account thereof and attributable to policies or contracts will be voted for, against, or withheld from voting on any proposition in the same proportion as (i) the aggregate record date cash value held in such sub-account for policies or contracts giving instructions, respectively, to vote for, against, or withhold votes on such proposition, bears to (ii) the aggregate record date cash value held in the sub-account for all policies or contracts for which voting instructions are received. Owners of policies or contracts continued in effect under lapse options will not be permitted to give voting instructions. Shares held in any other insurance company general or separate account or sub-account thereof will be voted in the proportion specified in the second preceding sentence for shares attributable to policies or contracts. The Company will provide pass-through voting privileges as required by Paragraph 6 of this Agreement and to all owners of Variable Insurance Products which are registered under the Act and/or the 1940 Act so long as the SEC continues to interpret the 1940 Act as requiring pass-through voting privileges. The owners of Variable Insurance Products to whom the Company will provide pass-through voting privileges pursuant to this Agreement are hereinafter referred to as "Pass-through Voters". Accordingly, the Company, when applicable, will distribute to Pass-Pass- through Voters all proxy material furnished and will votevote Shares of the Portfolios held in its Account(s) in a manner consistent with voting instructions timely received from Pass-through Voters. The Company will vote Shares for which it has not received timely voting instructions, as well as Shares it owns, in the same proportion as it votes those Shares for which it has received voting instructions. The Company reserves the right to disregard the voting instructions of Pass-through Voters to the extent such action is permitted by Rules 6e-2 or 6e-3(T) under the 1940 Act and is permitted under applicable state insurance laws affecting Fund.

Appears in 1 contract

Sources: Participation Agreement (Kilico Variable Separate Account/Il)