Document:

Exhibit 10.B

  
 EXHIBIT (10)(b)

  
 OPINION AND CONSENT OF ACTUARY 
  

 [Transamerica Financial Life Insurance Company Letterhead] 
  
 January 24, 2005 
  
 Transamerica Financial Life Insurance Company 
 4333 Edgewood Road NE 
 Cedar Rapids, Iowa 52499-0001 
  

	Re:	Advisors Edge® NY Variable Annuity 

 TFLIC Separate Account VNY 
 Registration on Form N-4 
  
 Dear Sir/Madam: 
  
 With regard to the above registration statement, I have examined such documents and made such inquiries as I have deemed necessary and appropriate, and on the basis of such examination, have the following
opinions: 
  
 Fees and charges deducted under the Advisors Edge® NY Variable Annuity policies are those deemed necessary
to appropriately reflect: 
  

	(1)	the expenses incurred in the acquisition and distribution of the policies, 

  

	(2)	the expenses associated with the development and servicing of the policies, 

  

	(3)	the assumption of certain risks arising from the operation and management of the policies and that provides for a reasonable margin of profit. 

  
 Fees and charges assessed against the policy values in the variable account include:

  

	(i)	Service Charge and Administrative Charge 

  

	(ii)	Mortality and Expense Risk Fee (M&E) 

  

	(iii)	Taxes (including premium and other taxes if applicable) 

  

 Transamerica Financial Life Insurance Company 
 January 24, 2005 
 Page 2 
  
 The magnitude of each of the individual charges listed above in (i) through (iii) is established in the pricing of the Advisors Edge® NY Variable Annuity, to achieve a reasonable Return on Investment (ROI), which is
within the range of industry practice with respect to comparable variable annuity products. 
  
 Except by coincidence, it is not expected that actual charges assessed in a given year would exactly offset actual expenses incurred. Acquisition expenses (as well as major product and/or systems development expenses)
are incurred “up front” and recovered, with a reasonable profit margin, through future years’ charges. In addition, the company cannot increase certain charges under the policies in the pricing process. 
  
 Therefore, in my opinion, the fees and charges deducted under the policies, in the aggregate,
are reasonable in relation to the services rendered, the expenses expected to be incurred, and the risks assumed by the company. 
  
 I hereby consent to the use of this opinion, which is included as an Exhibit to the registration statement. 
  

	
	
	 /s/ Tim Bennett

	 Tim Bennett, ASA, MAAA

	 Assistant Actuary

	 Transamerica Financial Life Insurance CompanyEXHIBIT 10.1

 Exhibit 10.1 
  
 SECOND AMENDMENT 
 TO 
 REVOLVING NOTE 
  
 This Second Amendment to Revolving Note, dated as of January 19, 2004, is entered into by and among Integral Systems, Inc., a Maryland corporation
(“Borrower”), SAT Corporation, Inc., a California corporation (“SAT”), and Bank of America, N.A. (the “Lender”) (said Amendment being referred to herein as “this Amendment”). 
  
 W I T N E S S E T H:

  
 WHEREAS, Borrower, SAT and Lender entered into that
certain Amended and Restated Revolving Line of Credit Loan Agreement and Security Agreement, dated as of August 31, 2001, as amended by that certain First Modification to Amended and Restated Revolving Line of Credit Loan Agreement and Security
Agreement, dated as of February 3, 2003, as further amended by that certain Second Amendment to Amended and Restated Revolving Line of Credit Loan Agreement and Security Agreement, dated as of February 25, 2004, and as further amended by that
certain Third Amendment to Amended and Restated Revolving Line of Credit Loan Agreement and Security Agreement, dated as of the date hereof (as so amended, the “Loan Agreement”); 
  
 WHEREAS, in connection with the transactions contemplated by the Loan
Agreement, Borrower and SAT executed and delivered to Lender that certain Revolving Note, dated as of August 31, 2001, in the original principal amount of Ten Million and No/100 Dollars ($10,000,000.00) and payable to the order of Lender, as amended
by that certain First Amendment to Revolving Note, dated as of February 25, 2004 (as so amended, the “Note”); and 
  
 WHEREAS, Borrower, SAT and Lender have agreed to amend the Note as provided herein; 
  
 NOW THEREFORE, in consideration of the terms and conditions set forth herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows (capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto as set forth in the Loan
Agreement): 
  
 SECTION 1. Amendment to Note.
Effective as of the date hereof, the Note is hereby amended as follows: 
  
 1.1 The Note is hereby amended to delete SAT as a borrower thereunder. 

 1.1 Section 2.b of the Note is hereby deleted in its entirety and the following is
substituted therefor: 
  
 b. unless sooner paid, the unpaid
Principal Sum, together with all interest accrued and unpaid thereon, and all other amounts owing under this Note shall be due and payable in full on February 28, 2007 (the “Maturity Date”). If the Loan Agreement provides for the Borrower
to make additional payments on account of the Principal Sum from time to time, Borrower promises to make those payments at the time and in the manner specified in the Loan Agreement. 
  
 SECTION 2. Representations and Warranties. 
  
 2.1 Each of Borrower and SAT hereby represents and warrants that (i)
it has full power and authority to execute and deliver this Amendment and to perform its obligations hereunder, (ii) it has taken all corporate action necessary for the execution and delivery by it of this Amendment and the performance by it of its
obligations hereunder, and (iii) this Amendment constitutes its valid and binding obligation enforceable against it in accordance with its terms except to the extent enforceability may be subject to bankruptcy, insolvency, moratorium and other
similar laws affecting the rights of creditors generally or the application of principles of equity, whether in an action at law or proceeding in equity. 
  
 SECTION 3. Reference to and Effect Upon the Note. 
  
 3.1 Except as specifically amended or waived above, the Note shall remain in full force and effect and is hereby
ratified and confirmed. 
  
 3.2 Except as specifically
provided above, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Lender under the Note, nor constitute an amendment of any provision of the Note, except as specifically set
forth herein. Upon the effectiveness of this Amendment, each reference in the Note to “this Note”, “hereunder”, “hereof”, “herein” or words of similar import shall mean and be a reference to the Note as
amended hereby. Upon the effectiveness of this Amendment, each reference in the Note to “the Borrower” shall mean and be a reference to the Borrower (as defined herein) and shall not be deemed to include SAT. Upon the effectiveness of this
Amendment, each reference in any Loan Document to the Note shall mean the Note as amended hereby. 
  
 SECTION 4. Fees and Expenses. Each of Borrower and SAT shall pay all reasonable fees, costs and expenses (including, without limitation,
reasonable attorneys’ fees, costs and expenses) incurred by Lender in connection with the preparation, negotiation, execution and delivery of this Amendment. 
  
 SECTION 5. Release. Each of Borrower and SAT, on behalf of itself and their respective agents,
representatives, attorneys, successors and assigns, hereby releases and forever discharges Lender and its agents, representatives, partners, directors, officers, attorneys, employees, affiliates, parents, subsidiaries, stockholders, predecessors,
successors and assigns of 

  

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and from any and all claims, setoffs, counterclaims, demands, liabilities, suits, actions and causes of action of any kind, nature or description whatsoever,
whether or not now known, that Borrower and/or SAT has, ever had or claimed to have had against Lender from the beginning of time to and including the date hereof. 
  
 Except with respect to the Note (as modified hereby), Loan Agreement, any other Loan Document, and the agreements, documents and instruments
executed in connection therewith, Lender, on behalf of itself and its agents, representatives, attorneys, successors and assigns, hereby releases and forever discharges Borrower and SAT, and their respective agents, representatives, partners,
directors, officers, attorneys, employees, affiliates, parents, subsidiaries, stockholders, predecessors, successors and assigns of and from any and all claims, setoffs, counterclaims, demands, liabilities, suits, actions and causes of action of any
kind, nature or description whatsoever, whether or not now known, that Lender has, ever had or claimed to have had against Borrower and/or SAT from the beginning of time to and including the date hereof. 
  
 SECTION 6. Governing Law; Arbitration. This Amendment shall be
governed by, construed under and enforced in accordance with the laws of the Commonwealth of Virginia without giving effect to its conflict of laws principles. Provisions of the Loan Agreement specifying that certain disputes between the Borrower
and the Lender shall be resolved by binding arbitration are incorporated into this Amendment by reference and shall have the same force and effect as if fully set forth in this Amendment. 
  
 SECTION 7. Section Titles. The section titles contained in this
Amendment are and shall be without substance, meaning or content of any kind whatsoever and are not a part of the agreement between the parties hereto. 
  
 SECTION 8. Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an
original but all such counterparts shall constitute one and the same instrument. 
  
 [signature page follows] 
  

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 IN WITNESS WHEREOF, this Amendment has been duly executed and delivered by the parties hereto as
of the day and year first above written. 
  

					
	 	 	INTEGRAL SYSTEMS, INC., a Maryland corporation
			
	 	 	By:	 	 /s/ Elaine M. Parfitt

	 	 	Name:	 	Elaine M. Parfitt
	 	 	Title:	 	Chief Financial Officer
		
	 	 	SAT CORPORATION, INC., a California corporation
			
	 	 	By:	 	 /s/ Elaine M. Parfitt

	 	 	Name:	 	Elaine M. Parfitt
	 	 	Title:	 	Vice President and Chief Financial Officer
		
	 	 	BANK OF AMERICA, N.A.
			
	 	 	By:	 	 /s/ Michael D. Brannan

	 	 	Name:	 	 Michael D. Brannan

	 	 	Title:	 	 Sr. Vice President

			
	STATE OF Maryland )	 	 	 	 
	CITY/COUNTY OF Charles) To wit:	 	 

  
 I, the undersigned, a
Notary Public in and for the City/County and State aforesaid, do hereby certify that Elaine M. Parfitt, Chief Financial Officer of Integral Systems, Inc., whose name is signed to the foregoing Second Amendment to Revolving Note, appeared before me
this 18th day of January 2005, and acknowledged that the foregoing is her true act and deed. 
  

			
	[SEAL]	 	 /s/ Tory Walker

	 	 	Notary Public

  
 My
Commission Expires: 4/26/2006 
  

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	STATE OF Maryland )	 	 	 	 
	CITY/COUNTY OF Charles ) To wit:	 	 

  
 I, the undersigned, a
Notary Public in and for the City/County and State aforesaid, do hereby certify that Elaine M. Parfitt, Vice President and Chief Financial Officer of SAT Corporation, Inc., whose name is signed to the foregoing Second Amendment to Revolving Note,
appeared before me this 18th day of January 2005, and acknowledged that the foregoing is her true act and
deed. 
  

			
	[SEAL]	 	 /s/ Tory Walker

	 	 	Notary Public

  
 My
Commission Expires: 4/26/2006 
  

					
	STATE OF Maryland )	 	 	 	 
	CITY/COUNTY OF Montgomery ) To wit:	 	 

  
 I, the undersigned, a
Notary Public in and for the City/County and State aforesaid, do hereby certify that Michael Brannan, a Sr. Vice President of Bank of America, N.A., whose name is signed to the foregoing Second Amendment to Revolving Note, appeared before me this
19th day of January 2005, and acknowledged that the foregoing is his/her true act and deed. 
  

			
	[SEAL]	 	 /s/ Sarah Vargas

	 	 	Notary Public

  
 My
Commission Expires: Nov. 6, 2007 
  

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