Common use of CONTRACT MAINTENANCE CHARGE Clause in Contracts

CONTRACT MAINTENANCE CHARGE. DEDUCTION FOR CONTRACT MAINTENANCE CHARGE -- The Company deducts an annual Contract Maintenance Charge from the Contract Value by cancelling Accumulation Units from each applicable Subaccount or reducing the General Account Value to reimburse it for expenses relating to maintenance of this Contract. The Contract Maintenance Charge is shown on the Contract Data Page. The Contract Maintenance Charge will be deducted from the Contract Value on each Contract Anniversary while this Contract is in force. If a total withdrawal is made on other than a Contract Anniversary, the Contract Maintenance Charge will be deducted at the time of withdrawal. If the Annuity Date is not a Contract Anniversary, a prorata portion of the annual Contract Maintenance Charge will be deducted on the Annuity Date. After the Annuity Date, the Contract Maintenance Charge will be collected on a monthly basis and will result in a reduction of each Annuity Payment.