Common use of Date of Distribution Clause in Contracts

Date of Distribution. The Certificate Holder shall specify the initial distribution date. As elected by the Certificate Holder, SWO payments will be made on a monthly or quarterly basis unless Aetna allows otherwise. If SWO payments are made more frequently than annually, the designated annual amount is divided by the number of payments due each calendar year. Subsequent distributions will be made on the 15th of any month or such other date as Aetna may designate or allow.

Date of Distribution. The Certificate Contract Holder shall specify the initial distribution date. As elected by the Certificate Contract Holder, SWO payments will be made on a monthly or quarterly basis unless Aetna allows otherwise. If SWO payments are made more frequently than annually, the designated annual amount is divided by the number of payments due each calendar year. Subsequent distributions will be made on the 15th of any month or such other date as Aetna may designate or allow.