ANNUITY PAYMENT CALCULATION DATE Sample Clauses
The Annuity Payment Calculation Date clause defines the specific date on which the calculation of annuity payments is to be performed. Typically, this clause outlines when the responsible party must determine the amount of each annuity payment, often based on factors such as interest rates, principal balances, or other relevant variables as of that date. By establishing a clear calculation date, the clause ensures consistency and predictability in payment amounts, thereby reducing disputes and providing clarity for both parties regarding their financial obligations.
ANNUITY PAYMENT CALCULATION DATE. For Guaranteed Annuities, this is the first day of a calendar month. For Variable Annuities, this is the Valuation Date ten (10) business days prior to the first day of a calendar month.
ANNUITY PAYMENT CALCULATION DATE. For Variable Annuities, this is a Valuation Date ten (10) business days prior to an annuity payment date.