Annuity Payment. A series of payments for life, a definite period or a combination of the two. The Annuity Payments may be variable or fixed in amount or a combination of both.
Annuity Payment. 8 1.09 Annuity Payout Options...................................... 8 1.10
Annuity Payment. If the Annuity Commencement Date does not coincide with the end of a Guarantee Period, We will apply Your Contract Value, less any applicable Premium Taxes, multiplied by the Market Value Adjustment, if any, to purchase the modal income payments according to the Annuity Option elected. If the Annuity Commencement Date coincides with the end of any Guarantee Period, no Market Value Adjustment will be applied in the determination of the monthly income payments. No Surrender Charge will be applied upon annuitization at any time. ELECTION OF ANNUITY OPTION. You may elect any one of the Annuity Options described below or any other Annuity Option We offer at the time of annuitization. In the absence of such election, the Life Annuity with 10 Years Period Certain will apply. The Annuity Option elected by You may not be changed on or after the Annuity Commencement Date. Election of any of these options must be made, In Writing, to Us prior to the Annuity Commencement Date. Some of the options may not be available if this Contract is issued to qualify under Section 401, 403, or 408 of the Internal Revenue Code of 1986 as amended. The third, fifth and sixth options (Life Annuity with Payments for a Period Certain, Joint and Last Survivor Life Annuity with Payments for a Period Certain, and Payment for a Period Certain) or any other option with a period certain segment will be available only if the guaranteed payment period is less than the life expectancy of the Annuitant at the time the option becomes effective. Such life expectancy will be computed under the mortality table then in use by Us. ELECTION OF ANNUITY PAYMENT FREQUENCY. You may elect the Annuity payment frequency. Available Annuity payment frequencies include: monthly, quarterly, semi-annual, and annual. In the event that You do not elect a payment frequency, Annuity payments will be made monthly. Annuity payments will be made according to the Annuity payment frequency selected. You may elect to change the Annuity payment frequency of Your payments within 30 days prior to the scheduled Annuity Commencement Date. DATE OF PAYMENT. The first Annuity Payment is payable on the Annuity Commencement Date. The remaining Annuity payments are computed and payable as of the same day of the month, or the preceding Business Day, if applicable, as the Annuity Commencement Date, based on the elected Annuity payment frequency. MINIMUM ANNUITY PAYMENT. The first Annuity Payment must be at least equal to the Minimum Annu...
Annuity Payment. 24.1.1 The Contracting Authority shall pay the Service Provider Annuity Payments in the manner set out in the Payment Mechanism. Subject to the provisions of this Agreement, the Contracting Authority shall procure that the Service Provider receives the Annuity Payment from the Roads Annuity Fund (the Fund) established by the Public Finance Management (Roads Annuity Fund) Regulations, 2015.
24.1.2 The Annuity Payment shall be in respect of the total project costs set out in the Financial Model and includes V.A.T on EPC and O&M Costs.
24.1.3 The amount of each Annuity Payment shall be calculated in accordance with the provisions of the Payment Mechanism on the basis of a quarterly annuity of Kenya Shillings [** ].
24.1.4 The Service Provider shall raise and submit its invoices in accordance with the invoicing procedure set out in Schedule M.
24.1.5 All payments shall be made in Kenya Shillings by electronic transfer of funds to the account of the Service Provider specified in the relevant invoice, quoting the invoice number against which payment is made.
Annuity Payment. The minimum payment amounts and the age adjustments which will be used to determine the first monthly payment for a Variable Annuity Payment based on an assumed interest rate We offer are shown on the Contract Specifications under the PAYMENT OPTION TABLES. The Payment Option Table show the dollar amount of the first monthly payment which can be purchased with each $1,000 of Contract Value, after deduction of any applicable premium taxes. The Owner must select one of the assumed interest rates We offer for the Variable Annuity Payment prior to the Annuity Commencement Date. The assumed interest rate may not be changed after the Annuity Commencement Date.
Annuity Payment. An amount paid at regular intervals under one of several options available to the Annuitant and/or any other payee (but not including Payments from Account). This amount will be paid on a fixed basis only.
Annuity Payment. Adult education employees who are "eligible teacher contributors" pursuant to Section 13-521, Subdivision 8, of the Administrative Code of the City of New York shall receive the annual $400 annuity contributions provided in Article 4, Section A of this Agreement when they reach the maximum step of the salary schedule (i.e. step 8B on the applicable differential lane).
Annuity Payment. Executive shall be provided with an annuity to be purchased on his fifty-fifth (55th) birthday that shall provide monthly benefits of $950. beginning on the Executive's sixty-fifth (65th) birthday and for the remaining life of the Executive. To the extent possible, the annuity described herein shall be held in a manner so as to defer the federal income tax to the Executive.
Annuity Payment. Upon the termination of the Employment Agreement, regardless of the reason therefor and regardless of whether prior to or upon its expiration by its terms, the Company shall continue to make payments to Executive of $200,000 per year for 10 years. Executive shall make himself available to the Company to provide advice and guidance on a limited basis, as the Company may reasonably request, with respect to the business of the Company during such 10-year period, provided that such advice and guidance may be rendered by telephone and at such times during normal business hours as may be convenient to Executive in light of his schedule and other commitments. The Company shall make such payments in equal monthly installments, on the first day of each month, commencing with the month following the last day of the Extended Term. In the event of the Executive's death prior to the end of such 10-year period, including during the Employment Term or Extended Term, the balance of payments under this Section shall be payable to his estate. Upon any Change in Control, the Company shall at its expense purchase an annuity for the benefit of Executive or his estate, as the case may be, with an annuity company reasonably satisfactory to Executive. Such annuity shall provide Executive or his estate, as the case may be, with the balance of payments otherwise due under this Section, when and as due. Payment of such amounts pursuant to the annuity shall excuse the Company from its obligations under this Section.
