APPLICATION OF PURCHASE PAYMENTS. Each Purchase Payment, net of the Sales Load and Premium Tax, will be applied to provide Accumulation Units in one or more Divisions. Accumulation Units are credited as of the effective date of the Purchase Payment. The number of Accumulation Units will be determined by dividing the Net Purchase Payment by the value of an Accumulation Unit on the effective date. This number of Accumulation Units will not be changed by any subsequent change in the dollar value of Accumulation Units.
Appears in 4 contracts
Samples: Flexible Payment Variable Annuity Contract (NML Variable Annuity Account A), Flexible Payment Variable Annuity Contract (NML Variable Annuity Account A), Flexible Payment Variable Annuity Contract (NML Variable Annuity Account B)
