CERTIFICATE CHARGES Sample Clauses

CERTIFICATE CHARGES. All charges and fees shown on the Contract Schedule are the maximum amounts which We may charge. We may, however, charge less than the maximum. SEPARATE ACCOUNT CHARGE - This charge, as shown on the Contract Schedule, on an annualized basis equals a percentage of the average daily ending value of the assets attributable to the Accumulation Units of the Subaccount(s) to which the certificate is allocated. This charge compensates us for mortality and expense risks and distribution and administration expenses associated with the certificate. We subtract this charge daily. We reserve the right to assess a charge on a class which is less than the charge specified on the Contract Schedule. [CERTIFICATE MAINTENANCE CHARGE - We deduct an annual Certificate Maintenance Charge shown on the Contract Schedule. The Certificate Maintenance Charge will be deducted from the Contract Value on each Contract Anniversary while this certificate is in force. Prior to the Annuity Date, the Certificate Maintenance Charge will be deducted from the Contract Value by canceling Accumulation Units. The number of Accumulation Units to be canceled from each applicable Subaccount will be in the ratio that the value of each Subaccount bears to the total Contract Value. If this certificate is surrendered for its full Surrender Value on other than a Contract Anniversary, the full Certificate Maintenance Charge due on the next Contract Anniversary will be deducted at the time of surrender. On and after the Annuity Date, the Certificate Maintenance Charge will be pro-rated and collected on a monthly basis. This amount will be subtracted from the monthly annuity payments.] VARIABLE ACCOUNT GENERAL DESCRIPTION - The name of the Variable Account is shown on the Contract Schedule. The assets of the Variable Account and each Subaccount are Our property, but are not chargeable with the liabilities arising out of any other business We may conduct, except to the extent that Variable Account assets exceed Variable Account liabilities arising under the contracts or certificates supported by the Variable Account. The Variable Account and each Subaccount is separate from Our General Account and any other separate account or Subaccount We may have. INVESTMENT ALLOCATIONS TO THE VARIABLE ACCOUNT - The Variable Account consists of Subaccounts and each Subaccount may invest its assets in a separate class of shares of a designated investment company or companies. We have the right to change, add or delete des...
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CERTIFICATE CHARGES. MORTALITY AND EXPENSE RISK CHARGE - We deduct a Mortality And Expense Risk Charge equal, on an annual basis, to the amount shown on the Certificate Schedule. We guarantee that the dollar amount of each annuity payment after the first will not be affected by variations in mortality or expense experience. ADMINISTRATIVE EXPENSE CHARGE - We deduct an Administrative Expense Charge equal, on an annual basis, to the amount shown on the Certificate Schedule. The Administrative Expense Charge compensates Us for some of the costs associated with the administration of this certificate and the Variable Account. CERTIFICATE MAINTENANCE CHARGE - We deduct an annual Certificate Maintenance Charge shown on the Certificate Schedule. The Certificate Maintenance Charge will be deducted from the Certificate Value on each Certificate Anniversary while this certificate is in force. Prior to the Annuity Date, the Certificate Maintenance Charge will be deducted from the Certificate Value by canceling Accumulation Units. The number of Accumulation Units to be canceled from each applicable Subaccount will be in the ratio that the value of each Subaccount bears to the total Certificate Value. If this certificate is surrendered for its full Surrender Value on other than a Certificate Anniversary, the full Certificate Maintenance Charge due on the next Certificate Anniversary will be deducted at the time of surrender. On and after the Annuity Date, the Certificate Maintenance Charge will be pro-rated and collected on a monthly basis and this will result in a reduction of the variable portion of the monthly annuity payments. DOLLAR COST AVERAGING - Using Our Dollar Cost Averaging Plan Request Form, the Certificateholder may elect automatic monthly transfers from the Money Market Subaccount or Guaranteed Account into Subaccounts for a specified dollar amount or specified number of months in accordance with the following:
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Related to CERTIFICATE CHARGES

  • Certificate No 1-A-1-[_] Cut-off Date: October 1, 2004 First Distribution Date: November 25, 2004 Last Scheduled Distribution Date: October 25, 2034 Pass-Through Rate: Variable in accordance with the Agreement Initial Certificate Principal Balance of this Certificate $[ ] ("Denomination"): Initial Certificate Principal Balances of all Certificates $70,640,000 of this Class: CUSIP: 576434 WV 2 ISIN: US576434WV28 MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. MASTR ALTERNATIVE LOAN TRUST 2004-11 Mortgage Pass-Through Certificates, Series 2004-11 Class 1-A-1 evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class with respect to a Trust Fund consisting primarily of conventional mortgage loans (the "Mortgage Loans") secured by first liens on one- to four-family residential properties Mortgage Asset Securitization Transactions, Inc., as Depositor Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Principal Balance at any time may be less than the Certificate Principal Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer, the Trust Administrator, the Trustee or the Custodians referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that [_______] is the registered owner of the Percentage Interest evidenced by this Certificate in certain monthly distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by Mortgage Asset Securitization Transactions, Inc. (the "Depositor"). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "Agreement") among the Depositor, UBS Real Estate Securities Inc., as transferor (the "Transferor"), Wells Fargo Bank, National Association, as master servicer (in such capxxxxx, the "Servicer"), trust administrator (in such capacity, the "Trust Administrator") and a custodian, U.S. Bank National Association, as a custodian and as trustee (the "Trustee"). Distributions on this Certificate will be made primarily from collections on the applicable Mortgage Loans pursuant to the terms of the Agreement. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trust Administrator.

  • Class P Certificate Account (a) The Trustee shall establish and maintain in the name of the Trustee, for the benefit of the Class P Certificateholders, the Class P Certificate Account as a segregated trust account or accounts.

  • REMIC Certificate Maturity Date Solely for purposes of satisfying Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" of the regular interests in the Upper-Tier REMIC, Middle-Tier REMIC and Lower-Tier REMIC is October 25, 2035.

  • Class A Certificate 7 Class A Principal Distribution Amount..........................................................7

  • Distributions in Respect of Certificates Payments to Certificateholders Statements and Reports Section 4.01. Distributions Section 4.02. Allocation of Realized Losses Section 4.03. Paying Agent Section 4.04.

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

  • Class PO Certificates Private Certificates..................................... Class P, Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies.......................................... Fitch and S&P. Regular Certificates..................................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate..................................... Class A-R Certificates.

  • Class A Certificates 11 Class A-L Regular Interests...................................................................11 Class C-B-1 Certificates......................................................................12 Class C-B-1-L Regular Interest................................................................12 Class C-B-2 Certificates......................................................................12 Class C-B-2-L Regular Interest................................................................12 Class C-B-3 Certificates......................................................................12 Class C-B-3-L Regular Interest................................................................12 Class C-B-4 Certificates......................................................................12 Class C-B-4-L Regular Interest................................................................12 Class C-B-5 Certificates......................................................................12 Class C-B-5-L Regular Interest................................................................12 Class C-B-6 Certificates......................................................................12 Class C-B-6-L Regular Interest................................................................12 Class C-P Certificates........................................................................12 Class C-P-L Regular Interest..................................................................12 Class C-P-M Regular Interest..................................................................13 Class C-X Certificates........................................................................13 TABLE OF CONTENTS (continued)

  • Realized Losses Realized Losses shall be allocated first against the Overcollateralization Amount, until the Overcollateralization Amount has been reduced to zero. If, after giving effect to the distribution of the Principal Distribution Amount on any Distribution Date the aggregate Class Certificate Balance of the Offered Certificates exceeds the Pool Principal Balance as of the end of the related Due Period, such excess will be allocated against the Class B-3, Class B-2, Class B-1, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, in that order and until the respective Class Certificate Balances thereof are reduced to zero.

  • Repayment of Trust Certificates In the event of an optional purchase pursuant to Section 8.01(a) of the Sale and Servicing Agreement, the Trust Certificates will be prepaid in whole, but not in part, at an aggregate prepayment price equal to the aggregate Certificate Balance of all the Trust Certificates plus accrued interest thereon at the Certificate Rate. ARTICLE FOUR ACTIONS BY OWNER TRUSTEE

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