PURCHASE PAYMENTS. Initial Purchase Payment — This Contract will not be in force until we receive at our Service Center the initial Purchase Payment. The initial Purchase Payment is shown in the Contract Specifications. Additional Purchase Payments — You may make additional Purchase Payments at any time before the Annuity Date, while the Owner or Annuitant is living and this Contract is in force. The minimum additional Purchase Payment amounts are shown in the Contract Specifications. A single Purchase Payment or the aggregate of all Purchase Payments may not exceed the Maximum Purchase Payment Amount Without Home Office Approval as shown in the Contract Specifications. Purchase Payments are payable in U.S. dollars at our Service Center. Checks should be made payable to Pacific Life Insurance Company. If you make Purchase Payments by check other than a cashier’s check, withdrawal payments and any refund under the Right to Cancel provision may be delayed until your check has cleared. Purchase Payment Allocation — Prior to the Annuity Date, you may allocate all or part of your Purchase Payments to one or more of the Investment Options available under this Contract. The Investment Options available on the Contract Date are shown in the Contract Specifications. You may change the Purchase Payment allocation by providing us with instructions in a form satisfactory to us. We will allocate any Purchase Payment according to your most recent allocation instructions. We may reject any instruction or Purchase Payment if your instructions are not clear and we cannot determine your allocation instructions.
PURCHASE PAYMENTS. This Contract will not be issued until the initial Purchase Payment shown on the Schedule is received by us and accepted at our Customer Service Center. The initial Purchase Payment is due on the issue date. A receipt will be furnished upon request. Any subsequent Purchase Payments may be made at any time prior to the Annuity Date subject to our requirements at the time the Purchase Payment is made. We reserve the right to modify the requirements. The requirements in effect on the issue date are shown on the Schedule. No benefit associated with any Purchase Payment will be provided until the Purchase Payment is accepted by us at our Customer Service Center. We reserve the right to refuse to accept additional Purchase Payments at any time for any reason. PURCHASE PAYMENT ALLOCATION The initial Purchase Payment will be allocated to the Subaccounts and to the Guaranteed Interest Account as you directed in the application and as indicated on the Schedule. We allocate any subsequent Purchase Payment among the Subaccounts and the Guaranteed Interest Account on the same basis as the initial Purchase Payment unless we receive a Written Notice with new instructions. In states where we are required to refund Purchase Payments during the Free Look Period, that portion of the initial Purchase Payment to be allocated to any Subaccount is allocated to the Fidelity VIP Money Market Subaccount for a period of 15 days from the date that the Contract is mailed from the Customer Service Center. At the expiration of this period, such portion of the Purchase Payment, as adjusted to reflect the investment performance of the Fidelity VIP Money Market Subaccount during this period, is then allocated to the Subaccounts as described above. Form 15208-95 VARIABLE ACCOUNT The Variable Account is an account established by us pursuant to the laws of the State of Texas, to separate the assets funding the variable benefits for the class of Contracts to which this Contract belongs from the other assets of the Company. The Variable Account is registered as a unit investment trust under the Investment Company Act of 1940 (the "1940 Act"). All income, gains and losses, realized or unrealized, from assets allocated to the Variable Account are credited to or charged against the Variable Account without regard to other income, gains or losses of the Company. The assets of the Variable Account are our property, but are separate from our General Account and any other separate account maintained b...
PURCHASE PAYMENTS. To the extent that moneys on deposit in the Remarketing Proceeds Account of the Purchase Fund established under the Indenture are insufficient to pay the full purchase price of Bonds payable pursuant to Section 5.03 of the Indenture on the applicable Purchase Date, the Company shall promptly pay to the Trustee as Purchase Payments for deposit in the Company Fund established under Section 5.07 of the Indenture amounts sufficient to cover such shortfalls in sufficient time to enable the Trustee to deliver to the Tender Agent the purchase price of Bonds payable pursuant to Section 5.03 of the Indenture; provided, however, that the obligation of the Company to make any Purchase Payment hereunder shall be deemed to have been satisfied to the extent that moneys shall have been paid by a Credit Facility Issuer to the Trustee for such payment in respect of the Bonds.
PURCHASE PAYMENTS. Subject to the maximum and minimum shown on the Contract Schedule, the Certificate Holder may determine the amount and frequency of Purchase Payments. We reserve the right not to accept any Purchase Payment. We will declare from time to time the acceptability of additional Purchase Payments.
PURCHASE PAYMENTS. 6 3 Variable Account ..................................................................... 7
PURCHASE PAYMENTS. Purchase payments are the payments You make for this contract and the benefits it provides. Purchase payments must be paid or mailed to Us at Our service center or to an authorized agent. Your Initial Purchase Payment is shown under Contract Data. Additional Purchase Payments Subject to the Payment Limits provision below, additional purchase payments may be made until the earlier of:
PURCHASE PAYMENTS. The amounts to be paid to the Seller by the Buyer for purchases of Capacity, Energy and Ancillary Services under this Agreement shall be determined as follows:
PURCHASE PAYMENTS. The initial Purchase Payment is due on the Issue Date. The minimum and maximum subsequent and total Purchase Payments are shown on the Contract Schedule. The Company reserves the right to reject any Purchase Payment.
PURCHASE PAYMENTS. Initial Purchase Payment — This Contract will not be in force until we receive at our Service Center the Initial Purchase Payment. The Initial Purchase Payment is shown in the Contract Specifications. Additional Purchase Payments — You may make additional Purchase Payments within the first 60 days of the Contract Date, while the Annuitant is living and this Contract is in force. Each additional Purchase Payment must be at least $1,000. We may limit the amount of any single Purchase Payment. You must obtain our consent before making a Purchase Payment that will bring the aggregate additional Purchase Payments or aggregate Purchase Payments over the Maximum Purchase Payment amounts shown in the Contract Specifications. Purchase Payments are payable in U.S. dollars either at our Service Center or through our agent. Checks should be made payable to Pacific Life & Annuity Company. If you make Purchase Payments by check other than a cashier’s check, withdrawal payments and any refund under the Right to Cancel provision may be delayed until your check has cleared. On request, a receipt for the Purchase Payment signed by an officer of the Company will be provided after payment. Purchase Payment Allocation — You may allocate all or part of your Purchase Payments to one or more of the Investment Options available under this Contract. The Investment Options available on the Contract Date are shown in the Contract Specifications. The following conditions apply: • At least 80% of the Initial Purchase Payment must be allocated to the FAO. • No more than 20% of the Initial Purchase Payment may be made to the Variable Investment Options. • Subsequent Purchase Payments will be allocated at the same percentage to the investment options as the Initial Purchase Payment, unless otherwise instructed. However, any subsequent Purchase Payment is subject to the first two conditions listed above. Subject the above conditions, you may change the Purchase Payment allocation by providing us with instructions in a form satisfactory to us. We will allocate any Purchase Payment according to your most recent allocation instructions. We may reject any instruction or Purchase Payment if your instructions are not clear or we cannot determine your allocation instructions.
PURCHASE PAYMENTS. Purchase payments may be made by the participant. An initial purchase payment must be paid to start coverage. The Date of Coverage is described in the certificate. Entire Contract. We have issued this group contract in consideration of the certificate application and the initial purchase payment. This group contract and other attached, related papers, if any, constitute the entire contract with us. Each certificate application shall be, at certificate issue, the basis for issuance of the particular certificate and at that date shall become a part of this group contract. A copy shall be attached to the certificate. All statements made by the group contract owner, or a participant are representations and not warranties. Misstatements will not be used in any contest or to reduce any claim under this group contract unless they are in writing. A copy of the application containing such misstatement must have been given to the group contract owner, the participant or the beneficiary as applicable. This group contract is incontestable, subject to the Age and Sex Misstatement, Proof of Age and Proof of Survival provisions as set forth in the certificate.
