It shall continue in effect thereafter from year to year provided that the continuance is specifically approved at least annually either by the Board of Directors of the Fund or by a vote of a majority of the outstanding voting securities of the Fund and in either event by vote of a majority of the directors of the Fund who are not interested persons of the Manager, Principal Mutual Life Insurance Company, Invista or the Fund cast in person at a meeting called for the purpose of voting on such approval. No amendment of this Agreement shall be effective until approved by vote of the holders of a majority of the outstanding voting securities and by vote of a majority of the directors of the Fund who are not interested persons of the Manager, Invista, Principal Mutual Life Insurance Company or the Fund cast in person at a meeting called for the purpose of voting on such approval. This Agreement shall continue in effect from year to year provided that the continuance is specifically approved at least annually either by the Board of Directors of the Fund or by a vote of a majority of the outstanding voting securities of the Fund and in either event by vote of a majority of the directors of the Fund who are not interested persons of the Manager, Principal Mutual Life Insurance Company, or the Fund cast in person at a meeting called for the purpose of voting on such approval. The Manager in assuming responsibility for the various services as set forth in this Agreement reserves the right to enter into agreements with others for the performance of certain duties and services or to delegate the performance of some or all of such duties and services to Principal Mutual Life Insurance Company, or an affiliate thereof. In consideration of the premises herein set forth and the satisfaction of the Condition hereinafter described, the Company and the Purchasers hereby agree, effective upon the satisfaction of the Condition, as follows:Įxamples of Principal Mutual Life Insurance Company in a sentence The Company has accordingly requested certain waivers and amendments relating to Section 5.16 of each of the Agreements. The Company has further advised the Purchasers that the Company is likely to continue to be so in default under Section 5.16 of each of the Agreements in the near future. The Company has advised the Purchasers that the Company is at present in default under Section 5.16 of each of the Agreements, which defaults the Company hereby acknowledges. Capitalized terms used and not otherwise defined herein shall have the meanings ascribed thereto in each Agreement. Principal Mutual Life Insurance Company. ("Principal"), Northern Life Insurance Company ("Northern"), Modern Woodmen of America (" MWA") and Royal Neighbors of America (" RNA", and together with Principal, Northern and MWA, collectively the "1994 Purchasers") and The Rottlund Company, Inc., a Minnesota corporation (the "Company"), pursuant to which the 1994 Purchasers purchased promissory notes of the Company in the aggregate original principal amount of $25,000,000 (collectively, the "1994 Notes") and (ii) the Note Agreement dated as of Febru( as amended by that certain Letter Amendment dated as of Decemand that certain Waiver and Amendment dated as of March 31, 1997, the "1996 Agreement", and together with the 1994 Agreement, collectively the "Agreements" and each individually an "Agreement") among Principal, Bankers Security Life Insurance Society, n/k/a ReliaStar Life Insurance Company of New York ("Bankers") and United Services Life Insurance Company, n/k/a ReliaStar United Services Life Insurance Company ("United", and together with Principal and Bankers, collectively the "1996 Purchasers", and, together with the 1994 Purchasers, collectively the "Purchasers"), pursuant to which the 1996 Purchasers purchased promissory notes of the Company in the aggregate original principal amount of $10,000,000 (collectively, the "1996 Notes").