Common use of Center in Good Order Clause in Contracts

Center in Good Order. If a total withdrawal is requested, You must submit the Contract to the Company's Customer Care Center with the withdrawal request. No withdrawal may exceed the Withdrawal Value. TOTAL WITHDRAWAL. During the MVA Period, the Withdrawal Value for a total withdrawal from the Contract is equal to the Contract Value adjusted for any applicable MVA. After the expiration of the MVA Period, the Withdrawal Value for a total withdrawal from the Contract is equal to Contract Value. A total withdrawal terminates Your Contract. In no event will a total withdrawal from the Fixed Account be less than the FAMV. PARTIAL WITHDRAWAL. Any partial withdrawal may be subject to an MVA. At least the Minimum Contract Value remaining after a partial withdrawal, as shown on the Contract Data Pages, must remain after any partial withdrawal. Unless You request otherwise, a gross partial withdrawal will be deducted from the Fixed Account Option(s) and the Index Account Option(s) in proportion to their current values. The gross partial withdrawal will be adjusted for any applicable MVA. If the gross amount of the partial withdrawal would reduce the Contract Value below the Minimum Contract Value remaining after a partial withdrawal, as shown on the Contract Data Pages, the Company will treat the withdrawal request as a total withdrawal and the Withdrawal Value will be paid. The amount payable as a result of the partial withdrawal will be determined at the end of the Business Day on which the Company receives Your request for withdrawal in Good Order at the Company's Customer Care Center. Partial Withdrawals will reduce each Index Account Option's value at the beginning of the term in the same proportion that its Interim Value was reduced on the date of the withdrawal. Any overpayments made by the Company to You in error must be returned within thirty (30) days from the date You are notified of the overpayment, or the Company will reduce Your Contract Value for the amount of the overpayment. If the overpayment exceeds the Contract Value, You are responsible for returning the remaining portion of the overpayment to the Company.