ALTERNATIVE GUARANTEED FUND WITHDRAWAL AND TRANSFER PAYMENT Sample Clauses

ALTERNATIVE GUARANTEED FUND WITHDRAWAL AND TRANSFER PAYMENT. Instead of the Withdrawals and Transfer payments provided in Section 8.2, the Contract Owner may direct Nationwide to withdraw all of the Guaranteed Fund on the Transfer Date, which will not be more than 90 days following receipt of the Contract Owner’s written request, in good order. In this event, Nationwide shall make a transfer payment to the Funding Successor equal to the market value of such amount. The market value of the Withdrawal is equal to the amount withdrawn multiplied by the Market Value Adjustment Factor. Taxes and applicable charges in accordance with Article VI shall reduce transfer payments. If the transfer payment results from a full or partial termination of the Plan or merger of the Plan, the transfer payments shall be made in accordance with Section 8.1. In the event that the Contract is terminated by Nationwide as described in Section 7.3 of this Contract, the Termination Fee as described in Section 6.3 of the Contract will be waived. In addition, the Market Value Adjustment Factor used to determine the transfer payment under this Section will be the greater of the amount specified on the Contract Specifications Page(s) and 1.
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Related to ALTERNATIVE GUARANTEED FUND WITHDRAWAL AND TRANSFER PAYMENT

  • Withdrawal From Agreement A. Any Fund may elect to withdraw from this Agreement effective at the end of any monthly period by giving at least 90 days’ prior written notice to each of the parties to this Agreement. Upon the written demand of all other Funds which are parties to this Agreement a Fund shall withdraw, and in the event of its failure to do so shall be deemed to have withdrawn, from this Agreement; such demand shall specify the date of withdrawal which shall be at the end of any monthly period at least 90 days from the time of service of such demand.

  • Rollovers of Settlement Payments From Bankrupt Airlines If you are a qualified airline employee who has received a qualified airline settlement payment from a commercial airline carrier under the approval of an order of a federal bankruptcy court in a case filed after September 11, 2001, and before January 1, 2007, you are allowed to roll over any portion of the proceeds into your Xxxx XXX within 180 days after receipt of such amount, or by a later date if extended by federal law. For further detailed information and effective dates you may obtain IRS Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs), from the IRS or refer to the IRS website at xxx.xxx.xxx.

  • Early Withdrawal Penalty When you open a CD, you agree to keep the principal on deposit with us for the term that you have selected. We will impose a substantial penalty if we permit you to withdraw any principal before the maturity date. The early withdrawal penalty will be one-half (½) the interest that would be due on the CD over the entire term of the CD, regardless of the length of time the funds remained on deposit, subject to the following limits. The minimum penalty is 7 days simple interest. The maximum penalty is 270 days of compound interest. It is possible that all or part of the penalty will be deducted from principal. No early withdrawal penalty will be assessed if the withdrawal is made because of your death or a court determination of your legal incompetence. We require proof of death or incompetence before an early withdrawal penalty is waived.

  • Early Withdrawal Penalties The Term Certificate Account will mature on the Maturity Date set forth in the Certificate. The Credit Union will terminate the Term Certificate Account and impose a penalty on the entire balance of the account if a withdrawal of principal is made prior to the Maturity Date. If the Term Certificate has a term to maturity equal to or less than one (1) year, the penalty imposed will equal ninety (90) days of dividends, whether or not earned. If the Term Certificate has a term to maturity greater than one (1) year, the penalty imposed will equal 180 days of dividends, whether or not earned. In accordance with Federal Reserve Board Regulations, the Credit Union may charge an early withdrawal penalty of seven (7) days dividends on amounts withdrawn within the first six (6) days after deposit or automatic renewal. Early withdrawal penalties will not apply to:

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