Common use of Annual Administrative Charge Clause in Contracts

Annual Administrative Charge. As of the last day of each Contract Year, if the Annuity Account Value on that date is less than $25,000, we will withdraw from the Divisions an Annual Administrative Charge equal to the lesser of $30 or 2% of the Annuity Account Value including the amount of any withdrawals pursuant to Section 2.07 during that Contract Year. The charge will be allocated among the Divisions in proportion to the amounts you have in the Divisions. If the Annuity Account Value is $25,000 or greater at the end of a Contract Year, the Annual Administrative Charge is zero. If the Annuity Account Value is less than $25,000 on (a) the date of the application of the Annuity Account Value or Cash Value pursuant to Section 3.03 or (b) the date of termination of this Contract pursuant to Sections 2.06 or 2.11, we will prorate the Annual Administrative Charge applicable to the completed portion of the current Contract Year and withdraw such amount in lieu of the Annual Administrative Charge described in this Section for the applicable part of that Contract Year.

Appears in 1 contract

Samples: Separate Account a of Equitable Life Assu Soc of the Us

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Annual Administrative Charge. As of the last day of each Contract Year, if the Annuity Account Value on that date is less than [$25,000], we will withdraw from the Divisions Investment Options an Annual Administrative Charge equal to the lesser of $30 or 2% of the Annuity Account Value including the amount of any withdrawals pursuant to Section 2.07 during that Contract Year. The charge will be allocated among the Divisions Investment Options in proportion to the amounts you have in the DivisionsInvestment Options. If the Annuity Account Value is [$25,000 25,000] or greater at the end of a Contract Year, the Annual Administrative Charge is zero. If the Annuity Account Value is less than [$25,000 25,000] on (a) the date of the application of the Annuity Account Value or Cash Value pursuant to Section 3.03 or (b) the date of termination of this Contract pursuant to Sections 2.06 or 2.11, we will prorate the Annual Administrative Charge applicable to the completed portion of the current Contract Year and withdraw such amount in lieu of the Annual Administrative Charge described in this Section for the applicable part of that Contract Year.

Appears in 1 contract

Samples: Separate Account a of Equitable Life Assu Soc of the Us

Annual Administrative Charge. As of the last day of each Contract Year, if the Annuity Account Value on that date is less than $25,00010,000, we will withdraw withdrawn from the Divisions an Annual Administrative Charge equal to the lesser of $30 or 2% of the Annuity Account Value Value, including the amount of any withdrawals pursuant to Section 2.07 during that Contract Year. The charge will be allocated among the Divisions in proportion to the amounts that you have in the Divisions. If the Annuity Account Value is $25,000 or greater at the end of a Contract Year, the Annual Administrative Charge is zero. If the Annuity Account Value is less than $25,000 10,000, on (a) the date of the application of the Annuity Account Value or Cash Value pursuant to Section 3.03 3.03, or (b) the date of termination Termination of this Contract pursuant to Sections Section 2.06 or 2.11, we will prorate the Annual Administrative Charge applicable to the completed portion of the current Current Contract Year and withdraw such amount in lieu of the Annual Administrative Charge applicable to the completed portion of the Current Contract Year and withdraw such amount in lieu of the full Annual Administrative Charge described in this Section for the applicable part of that Contract Year. If the Annuity Account Value is $10,000 or greater at the end of a Contract Year, the Annual Administrative Charge is zero.

Appears in 1 contract

Samples: Separate Account a of Equitable Life Assu Soc of the Us

Annual Administrative Charge. As of the last day of each Contract Year, if the Annuity Account Value on that date is less than $25,000, we will withdraw from the Divisions an Annual Administrative Charge equal to the lesser of $30 or 2% of the Annuity Account Value including the amount of any withdrawals pursuant to Section 2.07 during that Contract Year. The charge will be allocated among the Divisions in proportion to the amounts you have in the Divisions. If the Annuity Account Value is $25,000 or greater at the end of a Contract Year, the Annual Administrative Charge is zero. If the Annuity Account Value is less than $25,000 on (a) the date of the application of the Annuity Account Value or Cash Value pursuant to Section 3.03 3.02 or (b) the date of termination of this Contract pursuant to Sections 2.06 or 2.11, we will prorate the Annual Administrative Charge applicable to the completed portion of the current Contract Year and withdraw such amount in lieu of the Annual Administrative Charge described in this Section for the applicable part of that Contract Year.

Appears in 1 contract

Samples: Separate Account a of Equitable Life Assu Soc of the Us

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Annual Administrative Charge. As of the last day of each Contract Year, if the Annuity Account Value on that date is less than $25,00010,000, we will withdraw from the Divisions an Annual Administrative Charge equal to the lesser of $30 or 2% of the Annuity Account Value Value, including the amount of any withdrawals pursuant to Section 2.07 during that Contract Year. The charge will be allocated among the Divisions in proportion to the amounts you have in the Divisions. If the Annuity Account Value is $25,000 or greater at the end of a Contract Year, the Annual Administrative Charge is zero. If the Annuity Account Value is less than $25,000 10,000, on (a) the date of the application of the Annuity Account Value or Cash Value pursuant to Section 3.03 3.03, or (b) the date of termination Termination of this Contract pursuant to Sections Section 2.06 or 2.11, we will prorate the Annual Administrative Charge applicable to the completed portion of the current Current Contract Year and withdraw such amount in lieu of the Annual Administrative Charge applicable to the completed portion of the Current Contract Year and withdraw such amount in lieu of the full Annual Administrative Charge described in this Section for the applicable part of that Contract Year. If the Annuity Account Value is $10,000, or greater at the end of a Contract Year, the Annual Administrative Charge is zero.

Appears in 1 contract

Samples: Separate Account a of Equitable Life Assu Soc of the Us

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