ANNUAL WITHDRAWALS Sample Clauses

ANNUAL WITHDRAWALS. For any Distribution Calendar Year beginning before your beneficiary’s Annuity Commencement Date (except your beneficiary’s first Distribution Calendar Year, if your beneficiary’s annuity payments commence on or before his or her first Required Payment Date), the amount distributed must be no less than the quotient obtained by dividing the Accumulation Value of the contract as of the last day of the preceding calendar year (adjusted in accordance with Q&As 6, 7 and 8 of IRS Regulations Section 1.408-8) by the distribution period in (a) or (b) below, whichever is longer: (a) Your remaining life expectancy for that Distribution Calendar Year. Your remaining life expectancy for any Distribution Calendar Year is the number in the Single Life Table in Q&A I of IRS Regulations Section 1.401(a)(9)-9 corresponding to your age as of your birthday in the calendar year in which you died, reduced by one for each calendar year since the calendar year in which you died. (b) Your beneficiary’s life expectancy for that Distribution Calendar Year, determined under (I), (II) or (III) below, whichever is applicable: I. If your sole beneficiary is your surviving spouse, your spouse’s life expectancy for each Distribution Calendar Year beginning on or before your spouse’s death is the number in the Single Life Table in Q&A 1 of IRS Regulations Section 1.401(a)(9)-9 corresponding to your spouse’s age as of his or her birthday in that Distribution Calendar Year. II. If your sole beneficiary is your surviving spouse, your spouse’s remaining life expectancy for each Distribution Calendar Year beginning after your spouse’s death is the number in the Single Life Table in Q&A 1 of IRS Regulations Section 1.401(a)(9)-9 corresponding to your spouse’s age as of his or her birthday in the calendar year in which he or she died, reduced by one for each calendar year since the calendar year in which your spouse died. III. In all other cases, your beneficiary’s life expectancy for any Distribution Calendar Year is the number in the Single Life Table in Q&A 1 of IRS Regulations Section 1.401(a)(9)-9 corresponding to your beneficiary’s age as of his or her birthday in the calendar year immediately following the calendar year in which you died, reduced by one for each calendar year since the calendar year immediately following the calendar year in which you died. However, the amount that your beneficiary is required to receive from this contract will be reduced by any amount distributed to him ...
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ANNUAL WITHDRAWALS. For any Distribution Calendar Year beginning before your Annuity Commencement Date (except your first Distribution Calendar Year, if your annuity payments commence on or before your Required Beginning Date), the amount distributed must be no less than the quotient obtained by dividing the Accumulation Value of the contract as of the last day of the preceding calendar year (adjusted in accordance with Q&As 6, 7 and 8 of IRS Regulations Section 1.408-8) by the distribution period in (a) or (b) below, whichever is applicable: (a) If your spouse is your sole beneficiary, and he or she is more than ten years younger than you, the distribution period is the greater of (I) the number determined in accordance with (b) below, or (II) the number in the Joint and Last Survivor Table in Q&A 3 of IRS Regulations Section 1.401(a)(9)-9 corresponding to your age and your spouse’s age as of your birthdays in the calendar year for which the distribution is paid. (b) In all other cases, the distribution period is the number in the Uniform Lifetime Table in Q&A 2 of IRS Regulations Section 1.401(a)(9)-9 corresponding to age as of your birthday in the calendar year for which distribution is paid. However, the amount that you are required to receive from this contract will be reduced by any amount distributed to you from another individual retirement arrangement in accordance with Q&A 9 of IRS Regulations Section 1.408-8.
Sample 1

Related to ANNUAL WITHDRAWALS

  • Partial Withdrawals At any time any Holder shall be entitled to request a withdrawal of such portion of the Interest held by such Holder as such Holder shall request.

  • Permissible Withdrawals The Servicer may make withdrawals from each related Custodial P&I Account solely for the following: (a) remittances to the related Certificate Account; (b) reimbursement to itself for advances which have been recovered by subsequent collections including late payments, Liquidation Proceeds or Insurance Proceeds, to the extent funds on deposit recovered by such subsequent collections relate to the Mortgage Loans as to which such advances were made; (c) interest earnings on deposits to the related Custodial P&I Account, but only to the extent that such interest has been credited; (d) removal of amounts deposited in error; (e) removal of charges or other such amounts deposited on a temporary basis in the account; (f) removal of Servicing Fees to the extent deposited therein; and (g) termination of the account.

  • Hardship Withdrawals Hardship withdrawals, as provided for in paragraph 6.9 of the Basic Plan Document #04, [X] are [ ] are not permitted.

  • Withdrawals All sums paid to the Credit Union on deposits (less set-offs allowed by law and/or provided by contract) shall be paid on proper withdrawal demand made by the named Fiduciary. The Credit Union has no obligation to monitor the further distribution of any funds withdrawn from the account, unless required to do so by court order. We reserve the right to deny any withdrawal request. The Credit Union shall not be liable for the misappropriation of funds resulting from a withdrawal from a Fiduciary Account.

  • Notice of Final Withdrawal Promptly after receipt by the Paying Agent of notice that the Escrow Agent has requested a Final Withdrawal or that a Final Withdrawal will be made, the Paying Agent shall cause notice of the distribution of the Final Withdrawal to be mailed to each of the Receiptholders at its address as it appears in the Register. Such notice shall be mailed not less than 15 days prior to the Final Withdrawal Date. Such notice shall set forth: (i) the Final Withdrawal Date and the date for determining Receiptholders of record who shall be entitled to receive distributions in respect of the Final Withdrawal, (ii) the amount of the payment in respect of the Final Withdrawal for each $1,000 face amount Certificate (based on information provided by the Pass Through Trustee) and the amount thereof constituting unused Deposits (as defined in the Deposit Agreement) and interest thereon, and (iii) if the Final Withdrawal Date is the same date as a Regular Distribution Date, the total amount to be received on such date for each $1,000 face amount Certificate (based on information provided by the Pass Through Trustee). Such mailing may include any notice required to be given to Certificateholders in connection with such distribution pursuant to the Pass Through Trust Agreement.

  • No Withdrawal No Person shall be entitled to withdraw any part of such Person’s Capital Contribution or Capital Account or to receive any Distribution from the Company, except as expressly provided in this Agreement.

  • Deposits and Withdrawals 22.1 The Client may deposit funds into the Client Account at any time during the course of this Agreement. Deposits will be made via the methods and in the currencies accepted by the Company as amended from time to time. The detailed information about deposit options is shown on the Website. 22.2 The Company shall have the right to request the Client at any time any documentation to confirm the source of funds deposited into the Client Account. The Company shall have the right to reject a deposit of the Client if the Company is not duly satisfied as to the legality of the source of funds. 22.3 If the Client makes a deposit, the Company shall credit the relevant Client Account with the relevant amount actually received by the Company within one Business Day following the amount is cleared in the bank account of the Company. 22.4 If the funds sent by the Client are not deposited in the Client Account when they were supposed to, the Client shall notify the Company and request from the Company to make a banking investigation of the transfer. The Client agrees that any charges of the investigation shall be paid by the Client and deducted from his Client Account or paid directly to the bank performing the investigation. The Client understands and aggress that in order to perform the investigation the Client shall have to provide the Company with the requested documents and certificates. 22.5 The Company shall effect withdrawals of Client funds upon the Company receiving a relevant request from the Client. The withdrawal method accepted by the Company shall be the same used for the Client deposit, unless this is not possible due to technical or other applicable legal or regulatory reasons. 22.6 Upon the Company receiving an instruction from the Client to withdraw funds from the Client Account, the Company shall pay the said amount within five (5) Business Days, if the following requirements are met: (a) the withdrawal instruction includes all required information; (b) the instruction is to make a transfer to the originating account (whether that is a bank account, a payment system account etc.) from which the money was originally deposited in the Client Account or at the Client’s request to a bank account belonging to the Client; (c) the account where the transfer is to be made belongs to the Client; (d) at the moment of payment, the Client’s Balance exceeds the amount specified in the withdrawal instruction including all payment charges; (e) there is no Force Majeure event which prohibiting the Company from effecting the withdrawal. 22.7 It is agreed and understood that the Company will not accept third party or anonymous payments in the Client Account and will not allow to make withdrawals to any other third party or anonymous account. 22.8 The Company reserves the right to reasonably decline a withdrawal request of the Client asking for a specific transfer method and the Company has the right to suggest an alternative. 22.9 All payment and transfer charges of third parties will be borne by the Client and the Company shall debit the relevant Client Account for these charges. 22.10 Withdrawal fees may apply. The applicable fees may be found on the Company’s Website. 22.11 The Client may send the request for internal transfer of funds to another Client Account held by him with the Company. Internal transfers shall be subject to the Company’s policy from time to time. 22.12 Mistakes made by the Company during transfer of funds shall be refunded to the Client. It is understood that should the Client provide wrong instructions for a transfer, the Company may be unable to correct the mistake and the Client may have to bear the loss.

  • Transfers and Withdrawals 36 Section 11.1 Transfer............................................................................. 36 Section 11.2 Transfer of the Company's General Partner Interest and Limited Partner Interest..................................................................... 37 Section 11.3 Limited Partners' Rights to Transfer................................................. 37 Section 11.4

  • Withdrawal Events In the event of the death, retirement, withdrawal, expulsion, or dissolution of a Member, or an event of bankruptcy or insolvency, as hereinafter defined, with respect to a Member, or the occurrence of any other event which terminates the continued membership of a Member in the Company pursuant to the Statutes (each of the foregoing being hereinafter referred to as a “Withdrawal Event”), the Company shall terminate sixty days after notice to the Members of such withdrawal Event unless the business of the Company is continued as hereinafter provided. Notwithstanding a Withdrawal Event with respect to a Member, the Company shall not terminate, irrespective of applicable law, if within aforesaid sixty day period the remaining Members, by the unanimous vote or consent of the Members (other than the Member who caused the Withdrawal Event), shall elect to continue the business of the Company. In the event of a Withdrawal Event with respect to an Member, any successor in interest to such Member (including without limitation any executor, administrator, heir, committee, guardian, or other representative or successor) shall not become entitled to any rights or interests of such Member in the Company, other than the allocations and distributions to which such Member is entitled, unless such successor in interest is admitted as a Member in accordance with this Agreement. An “event of bankruptcy or insolvency” with respect to a Member shall occur if such Member:

  • Withdrawal Conditions; Withdrawal Period 1. Notwithstanding the provisions of Part A of this Section, no withdrawal shall be made for payments made prior to the date of this Agreement. 2. The Closing Date is June 30, 2013.

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