Availability of Options Sample Clauses

Availability of Options. We have the right to restrict these options if you designate an executor, administrator, trustee, corporation, partnership or association as the payee.
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Availability of Options. 23 Settlement .......................................................................................23 CONTRACT MODIFICATION Modification of Tables
Sample 1
Availability of Options. If any payment to be made under the elected option will be less than $50, the Company may make the payments in the most frequent interval which produces a payment of at least $50. The minimum amount that may be applied under a variable or fixed dollar method of payment option is $3,500. If the amount is less than $3,500, the Company may pay it in one sum, if such a payment is permitted by the Plan. The maximum amount that may be applied under any option is $1,000,000. For the application of any greater amount, the Company's consent is required.
Sample 1
Availability of Options. If the amount to be applied under any Annuity Option is less than $5,000, such Annuity Option shall not be available. Settlement shall then be in a single sum. If an annuity payment to a payee would be less than $100, we may pay less often so that such payment will be at least $100. ALTERNATE ANNUITY OPTION Instead of the variable Annuity Options provided under this contract, you may choose an alternate amount and type of periodic installments for fixed annuity payments. Such alternate Annuity Options shall be based on the rates for fixed-dollar single premium immediate annuities being issued by us on the Annuity Payout Date. They may only be elected within 30 days before the Annuity Payout Date.
Sample 1
Availability of Options. If the Joint Annuitant is not related to the Annuitant, you may not elect Joint and Survivor Life Annuity Option 2 unless we consent and then only if, based upon life expectancies, less than 50% of the amount so applied would accrue to the Joint Annuitant. If the amount to be applied under any annuity option is less than $2,000, such option shall not be available. Settlement shall than be in a single sum. If the first periodic payment to a payee would be less than $20, we may pay less often so that such payment will be at least $20. ALTERNATE ANNUITY OPTION Instead of the variable annuities provided under this contract, you may choose an alternate amount and type of periodic installments for fixed annuity payments. Such alternate annuity options shall be based on the rates for fixed dollar Single Premium Immediate Annuities being issued by us on the Annuity Payout Date. They may only be elected within 30 days before that date. -------------------------------------------------------------------------------- FORM NS-02-VA-07.1 NATIONAL SECURITY LIFE AND ANNUITY COMPANY PAGE 19 Any withdrawal of part or all of the contract value for settlement under an alternate annuity option will be exempt from any otherwise applicable Contingent Deferred Sales Charge if at least one of the following conditions is met:
Sample 1
Availability of Options. If the contingent annuitant is not related to the Annuitant, you may not elect Option 2 unless we consent and then only if, based upon life expectancies, less than 50% of the amount so applied would accrue to the contingent annuitant. If the amount to be applied under any annuity option is less than $5,000, such option shall not be available. Settlement shall than be in a single sum. If the first periodic payment to a payee would be less than $25, we may pay less often so that such payment will be at least $25. ALTERNATE ANNUITY OPTION Instead of the variable annuities provided under this contract, you may choose an alternate amount and type of periodic installments for fixed annuity payments. Such alternate annuity options shall be based on the rates for fixed dollar single premium immediate annuities being issued by us on the annuity payout date. They may only be elected within 30 days before that date. Any withdrawal of part or all of the contract value for settlement under an alternate annuity option will be exempt from any otherwise applicable contingent deferred sales charge if at least one of the following conditions is met:
Sample 1

Related to Availability of Options

  • Availability of Shares During the term of this Option, the Company shall reserve for issuance the number of shares of Common Stock required to satisfy this Option.

  • Availability of Common Shares (a) The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued Common Shares, the number of Common Shares that will be sufficient to permit the exercise in full of all outstanding Rights in accordance with SECTION 7. The Company covenants and agrees that it will take all such action as may be necessary to ensure that all Common Shares delivered upon exercise of Rights shall (subject to payment of the Purchase Price) be duly and validly authorized and issued and fully paid and nonassessable shares. The Company further covenants and agrees that it will pay when due and payable any and all federal and state transfer taxes and charges which may be payable in respect of the issuance or delivery of the Right Certificates or of any Common Shares upon the exercise of Rights. The Company shall not, however, be required to pay any transfer tax which may be payable in respect of any transfer or delivery of Right Certificates to a Person other than, or the issuance or delivery of Common Shares or depositary receipts for the Common Shares in a name other than that of, the registered holder of the Right Certificate evidencing Rights surrendered for exercise or to issue or to deliver any Common Shares or depositary receipts for Common Shares upon the exercise of any Rights until any such tax shall have been paid (any such tax being payable by the holder of such Right Certificate at the time of surrender) or until it has been established to the Company's reasonable satisfaction that no such tax is due.

  • Reservation and Availability of Common Shares (a) The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued Common Shares or any authorized and issued Common Shares held in its treasury, the number of Common Shares that will be sufficient to permit the exercise in full of all outstanding Rights in accordance with Section 7.

  • Exercisability of Options Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine in its sole discretion. After an Option is granted, the Committee, in its sole discretion, may accelerate the exercisability of the Option.

  • Status and Availability of Preferred Shares (a) The Company covenants and agrees that it will take all such action as may be necessary to ensure that all Preferred Shares delivered upon exercise of Rights shall, at the time of delivery of the certificates for such Preferred Shares (subject to payment of the Purchase Price), be duly and validly authorized and issued and fully paid and non-assessable shares.

  • Transferability of Options During the lifetime of an Optionee, only such Optionee (or, in the event of legal incapacity or incompetency, the Optionee’s guardian or legal representative) may exercise the Option. No Option shall be assignable or transferable by the Optionee to whom it is granted, other than by will or the laws of descent and distribution.

  • Availability of Rule 144 The Purchaser shall not be obligated to register shares of DocuNet Common Stock held by the Seller at any time when the resale provisions of Rule 144(k) (or any similar or successor Seller provision) promulgated under the Securities Act are available to the Seller.

  • Exercisability of Option Unless otherwise provided in this Agreement or the Plan, this Option shall entitle the Participant to purchase, in whole at any time or in part from time to time, to the extent the Option is vested in accordance with the vesting schedule herein, the Shares subject to this Option, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised or terminated as herein provided, during the remaining Option Period.

  • Availability of Funds Unless Administrative Agent shall have been notified by any Lender prior to the applicable Credit Date that such Lender does not intend to make available to Administrative Agent the amount of such Lender’s Loan requested on such Credit Date, Administrative Agent may assume that such Lender has made such amount available to Administrative Agent on such Credit Date and Administrative Agent may, in its sole discretion, but shall not be obligated to, make available to Borrower a corresponding amount on such Credit Date. If such corresponding amount is not in fact made available to Administrative Agent by such Lender, Administrative Agent shall be entitled to recover such corresponding amount on demand from such Lender together with interest thereon, for each day from such Credit Date until the date such amount is paid to Administrative Agent, at the customary rate set by Administrative Agent for the correction of errors among banks for three Business Days and thereafter at the Base Rate. If such Lender does not pay such corresponding amount forthwith upon Administrative Agent’s demand therefor, Administrative Agent shall promptly notify Borrower and Borrower shall immediately pay such corresponding amount to Administrative Agent together with interest thereon, for each day from such Credit Date until the date such amount is paid to Administrative Agent, at the rate payable hereunder for Base Rate Loans for such Class of Loans. Nothing in this Section 2.5(b) shall be deemed to relieve any Lender from its obligation to fulfill its Term Loan Commitments and Revolving Commitments hereunder or to prejudice any rights that Borrower may have against any Lender as a result of any default by such Lender hereunder.

  • Non-Transferability of Options The Option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee.

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