Contingent Deferred Sales Charge. Each Fund will pay to the Distributor (or its designee or transferee) in addition to the fees set forth in Section 3 hereof any contingent deferred sales charge imposed on redemptions of that Fund's Class A, Class B and Class C Shares upon the terms and conditions set forth in the then current Prospectus of that Fund. Notwithstanding anything to the contrary in this Agreement, the Distributor shall be paid such contingent deferred sales charges in respect of Class B Shares taken into account in computing the Distributor's Allocable Portion of the Distribution Fee notwithstanding the Distributor's termination as principal underwriter of the Class B shares of a Fund or any termination of this Agreement other than in connection with a Complete Termination of the Class B Distribution Plan as in effect on the date of this Agreement. Except as provided in the preceding sentence, a Fund's obligation to remit such contingent deferred sales charges to the Distributor shall not be subject to any dispute, offset, counterclaim or defense whatsoever, it being understood that nothing in this sentence shall be deemed a waiver by a Fund of its right separately to pursue any claims it may have against the Distributor and to enforce such claims against any assets (other than the Distributor's right to be paid its Allocable Portion of the Distribution Fee and to be paid the contingent deferred sales charges) of the Distributor. No Fund will waive any contingent deferred sales charge except under the circumstances set forth in the Fund's current Prospectus without the consent of the Distributor (or, if rights to payment have been transferred, the transferee), which consent shall not be unreasonably withheld.
Contingent Deferred Sales Charge. Certain shareholders of a Fund and the other Former Connecticut Mutual Funds are entitled to continue to make additional purchases of Class A shares at net asset value without a Class A initial sales charge, but subject to the Class A contingent deferred sales charge that was in effect prior to March 18, 1996 (the "prior Class A CDSC"). Under the prior Class A CDSC, if any of those shares are redeemed within one year of purchase, they will be assessed a 1% contingent deferred sales charge on an amount equal to the current market value or the original purchase price of the shares sold, whichever is smaller (in such redemptions, any shares not subject to the prior Class A CDSC will be redeemed first). Those shareholders who are eligible for the prior Class A CDSC are: (1) persons whose purchases of Class A shares of a Fund and other Former Connecticut Mutual Funds were $500,000 prior to March 18, 1996, as a result of direct purchases or purchases pursuant to the Fund's policies on Combined Purchases or Rights of Accumulation, who still hold those shares in that Fund or other Former Connecticut Mutual Funds, and (2) persons whose intended purchases under a Statement of Intention entered into prior to March 18, 1996, with the former general distributor of the Former Connecticut Mutual Funds to purchase shares valued at $500,000 or more over a 13-month period entitled those persons to purchase shares at net asset value without being subject to the Class A initial sales charge. Any of the Class A shares of a Fund and the other Former Connecticut Mutual Funds that were purchased at net asset value prior to March 18, 1996, remain subject to the prior Class A CDSC, or if any additional shares are purchased by those shareholders at net asset value pursuant to this arrangement they will be subject to the prior Class A CDSC.
Contingent Deferred Sales Charge. Billed to each Fund utilizing this service at an annual rate of $1.03 per open account.
Contingent Deferred Sales Charge. A Contingent Deferred Sales Charge may be assessed against the Accumulated Value when surrendered. The length of time from receipt of the purchase payment to the time of surrender determines the charge. For this purpose, Purchase Payments will be deemed to be surrendered in the order in which they were received and all surrenders will be first from Purchase Payments and then from other contract values. This charge is a percentage of the amount withdrawn (not to exceed the aggregate amount of the Purchase Payments made) and equals: Length of time from Contingent Deferred Purchase Payment Sales Charge (Number of years) ------------ ----------------- 7% Less than 1 6% 1 - 2 5% 2 - 3 4% 3 - 4 3% 4 - 5 2% 5 - 6 1% 6 - 7 None More than 7 No Contingent Deferred Sales Charges will be assessed in the event of the death of the Annuitant or the Owner (as applicable), or if contract values are applied to an annuity option provided for under this contract or upon the exercise of the Withdrawal Privilege. BENEFICIARY
Contingent Deferred Sales Charge. (CDSC). A charge that may be assessed against each Purchase Payment you withdraw from the Contract or applied to an Annuity Option.
Contingent Deferred Sales Charge. “CDSC”). For purchases of Class B and Class C shares (or for certain purchases of Class A shares), we advance commissions with the presumption that assets will remain in the Fund(s) long enough for expenses to be recouped. In the event of a redemption of shares purchased before the holding period expires, a CDSC is deducted from the redemption proceeds as described in each Fund’s Prospectus and SAI.
Contingent Deferred Sales Charge. We can make a contingent deferred sales charge if this contract is surrendered or a partial surrender is made. Surrenders in a contract year that do not exceed the free out amount are not subject to a charge. The free out amount is 10% of the contract value as of the first surrender of the contract year less all amounts previously surrendered during the contract year that were not subject to a charge. Surrenders within a contract year in excess of the free out amount may be subject to a charge. The amount subject to a charge is the lesser of (a) or (b), where:
Contingent Deferred Sales Charge. There is no initial sales charge on purchases of Class A shares of any one or more of the Xxxxxxxxxxx funds aggregating $1 million or more. The Distributor pays dealers of record concessions in an amount equal to 0.50% of purchases of $1 million or more (other than purchases by retirement plans, which the Fund does not permit). That concession will be paid only on purchases that were not previously subject to a front-end sales charge and dealer concession. If you redeem any of those shares within an eighteen (18) month "holding period" measured from the beginning of the calendar month during which the shares were purchased, a contingent deferred sales charge (called the "Class A contingent deferred sales charge") may be deducted from the redemption proceeds. That sales charge will be equal to 1.0% of the lesser of (1) the aggregate net asset value of the redeemed shares at the time of redemption (excluding shares purchased by reinvestment of dividends or capital gain distributions) or (2) the original net asset value of the redeemed shares. However, the Class A contingent deferred sales charge will not exceed the aggregate amount of the concessions the Distributor paid to your dealer on all purchases of Class A shares of all Xxxxxxxxxxx funds you made that were subject to the Class A contingent deferred sales charge. HOW CAN YOU BUY CLASS B SHARES? Class B shares are sold at net asset value per share without an initial sales charge. However, if Class B shares are redeemed within 6 years from the beginning of the calendar month of their purchase, a contingent deferred sales charge will be deducted from the redemption proceeds. The Class B contingent deferred sales charge is paid to compensate the Distributor for its expenses of providing distribution-related services to the Fund in connection with the sale of Class B shares. The amount of the contingent deferred sales charge will depend on the number of years since you invested and the dollar amount being redeemed, according to the following schedule for the Class B contingent deferred sales charge holding period: ---------------------------------------------------------------------------------------------------------------------- Years Since Beginning of Contingent Deferred Sales Charge Month in which Purchase On Redemptions in That Year Order Was Accepted (As % of Amount Subject to Charge) ---------------------------------------------------------------------------------------------------------------------...
Contingent Deferred Sales Charge. The Contingent Deferred Sales Charge for each Purchase Payment is a percentage of the Purchase Payment being withdrawn. The charge decreases as the Purchase Payment ages. The aging of a Purchase Payment is measured from the date it is allocated to your Annuity. If you make a withdrawal of a Purchase Payment on the day before an anniversary of the date that Purchase Payment was allocated to the Annuity, we will use the Contingent Deferred Sales Charge percentage that would apply if the withdrawal was made on the following day. The table of Contingent Deferred Sales Charges is shown in the Annuity Schedule. The charge is deducted from the Investment Options in the same proportion as the withdrawal upon which it is assessed.
Contingent Deferred Sales Charge. (a) Except as otherwise provided in this Section 10.4, distributions from the Contract (including transfers made pursuant to Section 5.3 of the Contract) shall be subject to a Contingent Deferred Sales Charge. The Contingent Deferred Sales Charge is a percentage, determined in accordance with the table in subsection (b) below, of the amount distributed. The number of Participant's Contract Years completed prior to the distribution will determine the amount of the Contingent Deferred Sales Charge.
