Contract Fund Value Reduction Upon Partial Surrender Sample Clauses

Contract Fund Value Reduction Upon Partial Surrender. The Contract Fund Value is reduced when a Partial Surrender is paid. Outside of a Window Period, the Contract Fund Value Reduction equals (a) plus (b) minus (c), where: (a) is the Partial Surrender payment; (b) is the Contingent Deferred Sales Charge for Partial Surrender; and (c) is the Interest Rate Factor Adjustment for Partial Surrender. During a Window Period the Contract Fund Value Reduction is equal to the Partial Surrender payment plus the Contingent Deferred Sales Charge for a Partial Surrender. Withdrawals attributable to the Fixed Account are calculated on a first-in, first-out basis, which means the oldest Purchase Payments are withdrawn first.