CURRENT INTEREST RATE Clause Samples
The "Current Interest Rate" clause defines the specific interest rate that applies to a loan or financial obligation at a given point in time. This clause typically outlines how the rate is determined, such as referencing a benchmark rate plus a margin, and may specify when and how the rate can change, for example, at regular intervals or in response to market fluctuations. Its core practical function is to provide clarity and transparency regarding the cost of borrowing, ensuring both parties understand the applicable rate and how it may be adjusted during the term of the agreement.
CURRENT INTEREST RATE. The Base Interest Rate plus any additional interest rate credited by the Company, less any charges due under any optional endorsements to the Contract. In no event will the Current Interest Rate be less than the Fixed Account Minimum Interest Rate shown on the Contract Data Page. DESIGNATED OPTION(S). The Investment Division(s) and/or 1-Year Fixed Account Option made available by the Company and selected by the Owner to which amounts will be transferred from a Source Option pursuant to one of the Company's systematic investment programs. FIXED ACCOUNT. Contract Values allocated to one or more Fixed Account Options. Allocations made to the Fixed Account Options are part of the general account of the Company. The general account is made up of all general assets of the Company, other than those in the Separate Account and other segregated asset accounts.
CURRENT INTEREST RATE. The Base Interest Rate plus any additional interest rate credited by the Company, less any charges due under any optional endorsements to the Contract. In no event will the Current Interest Rate be less than the Fixed Account Minimum Interest Rate. DESIGNATED OPTION(S). The Investment Division(s) and/or Fixed Account Option(s) made available by the Company and selected by the Owner to which amounts will be transferred from a Source Option pursuant to one of the Company's systematic investment programs. VA620 4
CURRENT INTEREST RATE. The rate(s) of interest declared by Us applicable to allocations of Subsequent Purchase Payments to the Fixed Account Options. The Current Interest Rate will not be less than the Minimum Guarantee Rate as shown on the Contract Data Page. DOLLAR COST AVERAGING (DCA) You may authorize the automatic transfer of amounts, at the interval selected by You, from the 1-Year DCA Fixed Account Option to any Subaccount(s). All amounts allocated to the 1-Year DCA Fixed Account Option will be transferred out within the one year period. You may also authorize the automatic transfer of amounts at regular intervals and specified amounts or percentages from the 1-Year Fixed Account Option or any of the Subaccounts to any other Subaccount(s) (other than the source account). The unit values credited and applied to your Contract are determined on the dates of transfer(s). You may terminate DCA at any time. However, upon termination or annuitization, any amounts remaining in the 1-Year DCA Fixed Account Option will be transferred to the 1-Year Fixed Account Option. We reserve the right to change the terms and conditions of the DCA program at any time.
CURRENT INTEREST RATE. The Base Interest Rate plus any additional interest rate credited by the Company, less any charges due under any optional endorsements to the Contract. In no event will the Current Interest Rate be less than 3.00%.
CURRENT INTEREST RATE. The rate(s) of interest declared by Us applicable to allocations of Subsequent Purchase Payments to the Fixed Account Options. The Current Interest Rate will not be less than the Minimum Guaranteed Rate as shown on the Contract Data Page. DOLLAR COST AVERAGING PROGRAM (DCA)
CURRENT INTEREST RATE. The Base Interest Rate plus any additional interest rate credited by the Company, less any charges due under any optional endorsements to the Contract. In no event will the Current Interest Rate be less than the Minimum Guaranteed Interest Rate shown on the Contract Data Page. FIXED ACCOUNT. Contract Values allocated to one or more Fixed Account Options under the Contract. Allocations made to Fixed Account Options are held under the general account of the Company. The general account is made up of all general assets of the Company, other than those in the Separate Account and other segregated asset accounts. VA250NY 4
CURRENT INTEREST RATE. The rates of interest declared by Us applicable to allocations of Subsequent Purchase Payments to the DCA Account Options. The Current Interest Rate will not be less than the Minimum Guarantee Rate as shown on the Contract Data Page. The investment options under this Contract that are credited with a fixed rate of interest declared by the Company. All amounts allocated to the DCA Account Options become part of the Company’s general asset account. The general asset account contains all the assets of the Company except for the Separate Account and other segregated asset accounts. The DCA Account Options for this Contract are shown on page 4. An optional program under which You authorize the automatic transfer of specified amounts or percentages from one or more designated source accounts(s) into any Subaccount(s) other than the source account. Any portion of a Purchase Payment allocated to the DCA Account Option(s) must be transferred out within the specified DCA Account Option Period depending on which DCA Account Option is selected. Upon termination of the DCA program any amounts remaining in the DCA Account Option(s) will be transferred to the DCA target allocation(s) for the program being terminated. Upon annuitization, any amounts remaining in the DCA Account Option(s) will be applied to the Fixed Annuity Payments. The unit values credited and applied to Your Contract are determined on each date of transfer. We reserve the right to change the terms and conditions of the DCA program at any time.
CURRENT INTEREST RATE. THE APPLICABLE INTEREST RATE AS OF THE DATE HEREOF IS THE LIBOR RATE PLUS 2.25%. THE APPLICABLE INTEREST RATE IS SUBJECT TO CHANGE IN ACCORDANCE WITH THE LOAN DOCUMENTS.