Charge Base Sample Clauses
Charge Base. If your contract has a Product Fee, we base the Product Fee on the Charge Base. On the Issue Date, the Charge Base is equal to the Initial Purchase Payment. On each Quarterly Contract Anniversary, the Charge Base is equal to the Contract Value at the end of the Business Day after we process any Additional Purchase Payments, Withdrawals including any Withdrawal Charges, Contract Charges and, if this is also an Index Anniversary, after we apply any credits. At the end of each Business Day, we: • Increase the Charge Base by the amount of any Additional Purchase Payments received that day; and • Reduce the Charge Base proportionately by the percentage of any Contract Value withdrawn that day, including any Withdrawal Charges and Contract Charges. A twelve-month anniversary of the Issue Date or any subsequent twelve-month Contract Anniversary. A period of 12 months. The first Contract Year begins on the Issue Date. Subsequent Contract Years begin on the Contract Anniversaries. A twelve-month anniversary of the Index Effective Date or any subsequent twelve-month Index Anniversary. The first day of the first Index Year. The Index Effective Date is shown on your Index Options statement. The Index Effective Date can be any Business Day from the Issue Date up to and including the first Quarterly Contract Anniversary. However, it cannot be the 29th, 30th, or 31st of a month. If the Index Effective Date would occur on the 29th, 30th, or 31st of a month, or on a day that is not a Business Day, we change the Index Effective Date to be the next available Business Day. The Index Options available to you are shown on the Index Options Contract Schedule(s). If the term Allocation Options is used in any attached amendment, endorsement or rider, the term shall have the same meaning as Index Options. A period of 12 months. The first Index Year begins on the Index Effective Date. Subsequent Index Years begin on the Index Anniversaries.
Charge Base. We base the Product Fee on the Charge Base. On the Issue Date, the Charge Base is equal to the Initial Purchase Payment. On each Quarterly Contract Anniversary, or the next Business Day if the Quarterly Contract Anniversary is not on a Business Day, the Charge Base is equal to the Contract Value. At the end of each Business Day, we: • Increase the Charge Base by the amount of any Additional Purchase Payments received that day; and • Reduce the Charge Base proportionately by the percentage of any Contract Value withdrawn that day, including any Withdrawal Charge, Transfer Fee, and Contract Charges. A twelve-month anniversary of the Issue Date or any subsequent twelve-month Contract Anniversary. The Variable Account Value plus the Index Option Value(s). The Index Option Value(s) is the value(s) in a selected Index Option as discussed in the attached rider(s). A period of 12 months. The first Contract Year begins on the Issue Date. Subsequent Contract Years begin on the Contract Anniversaries. A twelve-month anniversary of the Index Effective Date or any subsequent twelve-month Index Anniversary. The first day of the first Index Year. The Index Effective Date is shown on your Index Options statement. The Index Options available to you are shown on the Index Options Contract Schedule. A period of 12 months. The first Index Year begins on the Index Effective Date. Subsequent Index Years begin on the Index Anniversaries.