THAT IS NOT A BUSINESS DAY, THEN
SUCH PAYMENT SHALL BE MADE ON THE NEXT FOLLOWING BUSINESS DAY AND NO ADDITIONAL
INTEREST SHALL ACCRUE AS A RESULT OF PAYMENT ON SUCH FOLLOWING BUSINESS DAY.
FOR THE PURPOSE OF THIS PARAGRAPH 9, "BUSINESS DAY" SHALL MEAN ANY DAY THAT IS
NOT A SATURDAY, SUNDAY OR ANY OTHER DAY ON WHICH BANKING INSTITUTIONS IN THE
STATE OF ILLINOIS ARE PERMITTED OR REQUIRED BY ANY APPLICABLE LAW TO CLOSE.
10.
NO AGREEMENT OR INTEREST SECURING ANY OBLIGATION OF THE COMPANY,
WHETHER EXISTING ON THE DATE OF THIS SURPLUS NOTE OR SUBSEQUENTLY ENTERED INTO,
SHALL APPLY TO OR SECURE THE OBLIGATION OF THE COMPANY UNDER THIS SURPLUS NOTE.
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11.
IN THE EVENT THE COMPANY CONSOLIDATES OR MERGES INTO ANOTHER
ENTITY OR TRANSFERS SUBSTANTIALLY ALL OF ITS ASSETS TO ANOTHER ENTITY, THE
ENTITY INTO WHICH THE COMPANY CONSOLIDATES OR MERGES OR TO WHICH THE ASSETS OF
THE COMPANY ARE TRANSFERRED MUST ASSUME THE LIABILITY OF THE COMPANY HEREUNDER.
12.
THIS SURPLUS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH, AND
GOVERNED BY, THE LAWS OF THE STATE OF ILLINOIS, INCLUDING THE PROVISIONS OF
SECTION 215 ILCS 5/34.1 OF THE ILLINOIS INSURANCE CODE, AND APPLICABLE
REGULATIONS ISSUED PURSUANT THERETO.
IN WITNESS WHEREOF, the Company has caused this Surplus Note to be executed in
its name and attested to by its authorized officer, and its corporate seal to be
hereunto affixed, all as of the date first written above.
ALLSTATE LIFE INSURANCE COMPANY
(CORPORATE SEAL)
By:
/s/ John C. Pintozzi
Name:
John C. Pintozzi
Title:
Senior Vice President and Chief Financial Officer
Attest:
/s/ Susan L. Lees
Name:
Susan L. Lees
Senior Vice President, Secretary and General Counsel
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