Change in Denomination Sample Clauses

Change in Denomination. The Custodian and the Sponsor agree that a Planholder may change an existing Plan by providing the Custodian with a completed Plan application for a new face amount. An increase in a Plan amount shall not create new cancellation and refund rights that are created when a new Plan is issued. The Creation and Sales Charges already paid on the existing Plan will be recomputed and applied as a credit to the Creation and Sales Charges due on the new Plan and the amount of any transfer taxes at the time that it is established. Any additional Creation and Sales Charges due on the new Plan and the amount of any transfer taxes will be deducted pro rata from each of the first twelve payments under the New Plan. For a period of twelve months following a face change increase, the Planholder may decrease the increased Plan to a smaller plan size, but not smaller than the original Plan prior to the increase. A Planholder may increase the amount of his Plan at any time. A Planholder may decrease the amount of his Plan up to a maximum of 50% of the face amount of the Plan, provided that such request is made prior to the date of the Planholder's twelfth payment.
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Change in Denomination. The Custodian and the Sponsor agree that a Planholder may change an existing Plan by providing the Custodian with a completed Plan application for a new face amount. An increase in a Plan amount shall not create new cancellation and refund rights that are created when a new Plan is issued. If a Planholder increases the face amount of a Plan, the amount paid prior to July 24, 2000 will be divided by the amount of the new face plan monthly scheduled payment. The calculation will result in a number of scheduled payments assumed to have been made prior to July 24, 2000 under the increased face plan amount. A creation and sales load will be applied to these assumed payments and a credit will be given for the creation and sales load actually paid prior to the face plan change. Any balance due will be deducted from the Planholder's account. If the number of assumed scheduled payments is less than 12, a creation and sales load will be assessed on future payments so that a creation and sales load is paid on 12 scheduled payments. If the number of scheduled payments resulting from the calculation is greater than 12, no creation and sales load will be assessed on payments made after July 24, 2000. A Planholder may decrease the amount of his Plan up to a maximum of 50% of the face amount of his Plan, provided that such request is made prior to the date of the Planholder's sixth payment. A Planholder may increase the amount of his Plan at any time. For a period of twelve (12) months following a face change increase, the Planholder may decrease the increased Plan to a smaller plan size, but not smaller than the original Plan prior to the increase."
Change in Denomination. The Custodian and the Sponsor agree that a Planholder may change an existing Plan by providing the Custodian with a completed Plan application for a new face amount. An increase in a Plan amount shall not create new cancellation and refund rights that are created when a new Plan is issued. If a planholder increases the face amount of a Plan, the amount paid prior to June 30, 2000 will be divided by the amount of the new face plan monthly scheduled payment. The calculation will result in a number of scheduled payments assumed to have been A Planholder may decrease the amount of his Plan up to a maximum of 50% of the face amount of his Plan, provided that such request is made prior to the date of the Planholder's sixth payment. A Planholder may increase the amount of his Plan at any time. For a period of twelve (12) months following a face change increase, the Planholder may decrease the increased Plan to a smaller plan size, but not smaller than the original Plan prior to the increase." 5. The second paragraph of Section II.A.9 is hereby amended and restated to read in full as follows: "Upon receipt by the Custodian of appropriate notice from the Sponsor, the Custodian shall reinstate any Plan which has been terminated in accordance with paragraphs II(B)(7)(a) or (b) below, subject to a reinstatement fee set forth in the Prospectus, but without deduction for sales charges, so long as the reinstatement is consistent with the terms of the Plan Certificate." 6. The first clause of the first paragraph of Section II.B.5 is hereby amended and restated to read as follows: "The Custodian and Sponsor agree that a Planholder who has owned his Plan for at least 45 days may withdraw or liquidate part of the Fund Shares held in his account without terminating his Plan, subject to a Custodian Fee set forth in the Prospectus and to the following:..."
Change in Denomination. The Custodian and the Sponsor agree that a Planholder may change an existing Plan by providing the Custodian with a completed Plan application for a new face amount. An increase in a Plan amount shall not create new cancellation and refund rights that are created when a new Plan is issued. If a Planholder increases the face amount of a Plan, the amount paid prior to July 24, 2000 will be divided by the amount of the new face plan monthly scheduled payment. The calculation will result in a number of scheduled payments assumed to have been made prior to July 24, 2000 under the increased face plan amount. A creation and sales load will be applied to these assumed payments and a credit will be given for the creation and sales load actually paid prior to the face plan change. Any balance due will be deducted from the Planholder's account. If the number of assumed scheduled payments is less than 12, a creation and sales load will be assessed on future payments so that a creation and sales load
Change in Denomination. The Custodian and the Sponsor agree that a Planholder may change an existing Plan by providing the Custodian with a completed Plan application for a new face amount. An increase in a Plan amount shall not create new cancellation and refund rights that are created when a new Plan is issued. The Creation and Sales Charges already paid on the existing Plan will be recomputed and applied as a credit to the Creation and Sales Charges due on the new Plan and the amount of any transfer taxes at the time that it is established. Any additional Creation and Sales Charges due on the new Plan and the amount of any transfer taxes will be obtained from a liquidation of Fund shares. The Custodian will charge the fee set forth in Schedule A for any change in a Plan denomination. For a period of six months following a face change increase, the Planholder

Related to Change in Denomination

  • Different Denominations This Note is exchangeable for an equal aggregate principal amount of Notes of different authorized denominations, as requested by the Holder surrendering the same. No service charge will be payable for such registration of transfer or exchange.

  • Currency; Denominations Unless otherwise provided in or pursuant to this Indenture, the principal of, any premium and interest on and any Additional Amounts with respect to the Securities shall be payable in Dollars. Unless otherwise provided in or pursuant to this Indenture, Registered Securities denominated in Dollars shall be issuable in registered form without Coupons in denominations of $1,000 and any integral multiple thereof, and the Bearer Securities denominated in Dollars shall be issuable in the denomination of $5,000. Securities not denominated in Dollars shall be issuable in such denominations as are established with respect to such Securities in or pursuant to this Indenture.

  • Note Exchangeable for Different Denominations This Note is exchangeable, upon the surrender hereof by the Holder at the principal office of the Company, for a new Note or Notes (in accordance with Section (4)(d)) representing in the aggregate the outstanding Principal of this Note, and each such new Note will represent such portion of such outstanding Principal as is designated by the Holder at the time of such surrender.

  • Warrant Exchangeable for Different Denominations This Warrant is exchangeable, upon the surrender hereof by the holder hereof at the office or agency of the Company referred to in Paragraph 7(e) below, for new Warrants of like tenor representing in the aggregate the right to purchase the number of shares of Common Stock which may be purchased hereunder, each of such new Warrants to represent the right to purchase such number of shares as shall be designated by the holder hereof at the time of such surrender.

  • Registered Form; Denominations; Transfer; Exchange The Notes are in registered form without coupons in denominations of $2,000 principal amount and any multiple of $1,000 in excess thereof. A Holder may register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to issue, register the transfer of or exchange any Note or certain portions of a Note.

  • Authorized Denominations The Securities are issuable in registered form, without coupons, in denominations of $1,000 and any integral multiple of $1,000 in excess thereof. As provided in the Indenture, and subject to certain limitations therein set forth and to the limitations described below, if applicable, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same.

  • Minimum Denominations The Original Notes shall be issued and maintained in minimum denominations of $250,000 and additional increments of $1.

  • Form and Denomination The Notes shall be issuable in whole in the registered form of one or more Global Notes (without coupons), in minimum denominations of U.S.$2,000 and integral multiples of U.S.$1,000 in excess thereof, and shall be transferable in integral multiples of U.S.$2,000 and integral multiples of U.S.$1,000 in excess thereof and the Depository for such Global Notes shall be The Depository Trust Company, New York, New York.

  • Designation of a Different Lending Office If any Lender requests compensation under Section 3.04, or the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then such Lender shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment.

  • Interest Rate Adjustment The interest rate payable will be subject to adjustments from time to time if either Moody’s or S&P or, if applicable, Fitch or any “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of the Exchange Act selected by the Company (as certified by a resolution of the Company’s board of directors) as a replacement for Moody’s or S&P, as the case may be (each, a “Substitute Rating Agency”) downgrades (or downgrades and subsequently upgrades) the credit rating assigned to the Notes, in the manner described below. Each of Moody’s, S&P and any Substitute Rating Agency is an “Interest Rate Rating Agency,” and together they are “Interest Rate Rating Agencies.” (a) If the rating assigned by Moody’s (or, if applicable, any Substitute Rating Agency) of the Notes is decreased to a rating set forth in the immediately following table, the interest rate on the Notes will increase such that it will equal the interest rate payable on the Notes of such series on the date of their initial issuance plus the percentage set forth opposite the rating in the table below (plus, if applicable, the percentage set forth opposite the rating in the table under Section 108(b) below): Ba1 0.25 % Ba2 0.50 % Ba3 0.75 % B1 or below 1.00 % * Including the equivalent ratings of any Substitute Rating Agency. (b) If the rating assigned by S&P (or, if applicable, any Substitute Rating Agency) of a series of Notes is decreased to a rating set forth in the immediately following table, the interest rate on the Notes of such series will increase such that it will equal the interest rate payable on the Notes of such series on the date of their initial issuance plus the percentage set forth opposite the rating in the table below (plus, if applicable, the percentage set forth opposite the rating in the table under Section 108(a) above): BB+ 0.25 % BB 0.50 % BB- 0.75 % B+ or below 1.00 % * Including the equivalent ratings of any Substitute Rating Agency. If at any time the interest rate on the Notes of a series has been increased and any of the Interest Rate Rating Agencies subsequently upgrades its rating of the Notes of such series, the interest rate on the Notes of such series will be decreased such that the interest rate for the Notes of such series equals the interest rate payable on the Notes of such series on the date of their initial issuance plus the percentages set forth opposite the ratings from the tables above in effect immediately following the upgrade in rating. If Moody’s (or any Substitute Rating Agency) subsequently upgrades its rating of the Notes of such series to Baa3 (or its equivalent, in the case of a Substitute Rating Agency) or higher, and S&P (or any Substitute Rating Agency) upgrades its rating to BBB- (or its equivalent, in the case of a Substitute Rating Agency) or higher, the interest rate on the Notes of such series will be decreased to the interest rate payable on the Notes of such series on the date of their initial issuance (and if one such upgrade occurs and the other does not, the interest rate on the Notes of such series will be decreased so that it does not reflect any increase attributable to the upgrading Interest Rate Rating Agency). In addition, the interest rates on the Notes of a series will permanently cease to be subject to any adjustment described above (notwithstanding any subsequent downgrade in the ratings by any of the Interest Rate Rating Agencies) if the Notes of such series become rated Baa1 and BBB+ (or, in either case, the equivalent thereof, in the case of a Substitute Rating Agency) or higher by Moody’s and S&P (or, in either case, any Substitute Rating Agency), respectively (or one of these ratings if the Notes of such series are only rated by one rating agency). Each adjustment required by any downgrade or upgrade in a rating set forth above, whether occasioned by the action of Moody’s or S&P (or, in either case, any Substitute Rating Agency), shall be made independent of any and all other adjustments. In no event shall (1) the interest rate on the Notes of a series be reduced to below the interest rate payable on the Notes of such series on the date of their initial issuance or (2) the total increase in the interest rate on the Notes of such series exceed 2.00% above the interest rate payable on the Notes of such series on the date of their initial issuance. No adjustments in the interest rate of the Notes of a series shall be made solely as a result of an Interest Rate Rating Agency ceasing to provide a rating on the Notes of such series. If at any time less than two Interest Rate Rating Agencies provide a rating of the Notes of such series for reasons beyond the Company’s control, the Company will use its commercially reasonable efforts to obtain a rating of the Notes of such series from a Substitute Rating Agency, if one exists, in which case, for purposes of determining any increase or decrease in the interest rate on the Notes of such series pursuant to the tables above (a) such Substitute Rating Agency will be substituted for the last Interest Rate Rating Agency to provide a rating of the Notes of such series but which has since ceased to provide such rating, (b) the relative rating scale used by such Substitute Rating Agency to assign ratings to senior unsecured debt will be determined in good faith by an independent investment banking institution of national standing appointed by the Company and, for purposes of determining the applicable ratings included in the applicable table above with respect to such Substitute Rating Agency, such ratings will be deemed to be the equivalent ratings used by Moody’s or S&P, as applicable, in such table and (c) the interest rate on the Notes of a series will increase or decrease, as the case may be, such that the interest rate equals the interest rate payable on the Notes of a series on the date of their initial issuance plus the appropriate percentage, if any, set forth opposite the deemed equivalent rating from such Substitute Rating Agency in the applicable table above (taking into account the provisions of clause (b) above) (plus any applicable percentage resulting from a decreased rating by the other Interest Rate Rating Agency). For so long as only one Interest Rate Rating Agency provides a rating of the Notes of a series, any subsequent increase or decrease in the interest rate of the Notes of such series necessitated by a reduction or increase in the rating by the Interest Rate Rating Agency providing the rating shall be twice the applicable percentage set forth in the applicable table above. For so long as no Interest Rate Rating Agency provides a rating of the Notes of a series, the interest rate on the Notes of such series will increase to, or remain at, as the case may be, 2.00% above the interest rate payable on the Notes of such series on the date of their initial issuance. Any interest rate increase or decrease described above will take effect from the first day of the interest period commencing after the date on which a rating change occurs that requires an adjustment in the interest rate. If any Interest Rate Rating Agency changes its rating of the Notes of a series more than once prior to any particular interest payment date, the last change by such agency prior to such interest payment date will control for purposes of any interest rate increase or decrease with respect to the Notes of a series described above relating to such rating agency’s action. If the interest rate payable on the Notes of a series is increased as described above, the term “interest,” as used with respect to the Notes of such series, will be deemed to include any such additional interest unless the context otherwise requires.

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