Contract Maturity Sample Clauses
The Contract Maturity clause defines the specific date or event upon which the contractual obligations between the parties come to an end. In practice, this clause sets a clear endpoint for the agreement, such as a fixed calendar date or the completion of a particular project milestone, after which neither party is required to perform further under the contract. Its core function is to provide certainty and clarity regarding the duration of the agreement, helping both parties plan their commitments and avoid disputes about when their responsibilities conclude.
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Contract Maturity. Change In Maturity Date Prior to the Maturity Date, an Owner may make a Written Request to change the Maturity Date. Any extension of the Maturity Date will be subject to our prior approval and any applicable law or regulation then in effect. Options at Maturity Date We will send You information about Your available options prior to the Maturity Date. If by the Maturity Date, you do not choose an Annuity Option, make a total withdrawal of the Surrender Value, or ask us to change the Maturity Date, we will automatically pay you Annuity Payments under the Annuity Option shown on the Specifications Pages unless otherwise required by the Internal Revenue Code and the Annuity Commencement Date is considered to be the Maturity Date. We will provide variable Annuity Payments unless otherwise elected. You can change the Annuity Option at any time before the Annuity Commencement Date.
Contract Maturity. CHANGE IN MATURITY DATE Prior to the Maturity Date, an Owner may make a Written Request to change the Maturity Date. Any extension of the Maturity Date will be subject to our prior approval and any applicable law or regulation then in effect. OPTIONS AT MATURITY DATE We will send You information about Your available options prior to the Maturity Date. If by the Maturity Date, you do not choose an Annuity Option, make a total withdrawal of the Surrender Value, or ask us to change the Maturity Date, we will automatically pay you Annuity Payments under the Annuity Option shown on the Specifications Pages and the Annuity Commencement Date is considered to be the Maturity Date. We will provide variable Annuity Payments unless otherwise elected. You can change the Annuity Option at any time before the Annuity Commencement Date. ICC11-VENTURE.11 SAMPLE
Contract Maturity. For purposes of this Contract, the Maximum Retirement Date means the Contract’s maturity date and the date we will begin making payments under one of our settlement options. The Annuitant’s Maximum Retirement Date is specified on your Schedule Page. You may extend the Annuitant’s Maximum Retirement Date at any time after the Contract Date by providing us with Written Notice. Such change shall not take effect until received by us at our Processing Office. If this Contract is sold as a Qualified Contract (as defined below), distribution provisions of the endorsement attached to this Contract may extend the Maximum Retirement Date beyond the date specified on your Schedule Page.