Common use of Deferment Clause in Contracts

Deferment. Application of proceeds to provide a payment of a death benefit under Part VI and payment of any portion of the Annuity Account Value (less any applicable Withdrawal Charge) will be made within seven days after the Transaction Date. Payments or applications of proceeds from a Separate Account may be deferred for any period during which (1) the New York Stock Exchange is closed or trading is restricted, (2) sales of securities or determination of the fair value of the Account's assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits Equitable to defer payment in order to protect persons with interests in the Separate Account. Equitable may defer payment or transfer of any portion of the Annuity Account Value in the Guaranteed Interest Account for up to six months while the Owner is living.

Appears in 3 contracts

Samples: Group Annuity Contract (Separate Account No 45 of Equitable Life Assur Society of Us), Group Annuity Contract (Equitable Life Assurance Society of the United States /Ny/), Group Annuity Contract (Separate Account a of Equitable Life Assu Soc of the Us)

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Deferment. Application of proceeds to provide a payment of a death benefit under Part VI V and payment of any portion of the Annuity Account Value (less any applicable Withdrawal Chargewithdrawal charge) will be made within seven days after the Transaction Date. Payments or applications of proceeds from a Variable Separate Account may be deferred for any period during which (1) the New York Stock Exchange is closed or trading is restricted, (2) sales of securities or determination of the fair value of the Variable Separate Account's assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits Equitable us to defer payment in order to protect persons with interests in the Variable Separate Account. Equitable We may defer payment or transfer of any portion of the Annuity Account Value in the Guaranteed Interest Account Option and the Fixed Maturity Options for up to six months while the Owner Participant is living.

Appears in 2 contracts

Samples: Group Annuity Contract (Separate Account a of Equitable Life Assu Soc of the Us), Group Flexible Premium Deferred Variable Annuity Contract (Separate Account a of Axa Equitable Life Insurance Co)

Deferment. Application of proceeds to provide a payment of a death benefit under Part VI V and payment of any portion of the Annuity Account Value (less any applicable Withdrawal Charge) will be made within seven days after the Transaction Date. Payments or applications of proceeds from a Separate Account may be deferred for any period during which (1) the New York Stock Exchange is closed or trading is restricted, (2) sales of securities or determination of the fair value of the Separate Account's assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits Equitable to defer payment in order to protect persons with interests in the Separate Account. Equitable may defer payment or transfer of any portion of the Annuity Account Value in the Guaranteed Interest Account Option for up to six months while the Owner Participant is living.

Appears in 1 contract

Samples: Group Annuity Contract (Separate Account a of Equitable Life Assu Soc of the Us)

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Deferment. Application of proceeds to provide a payment of a death benefit under Part VI V and payment of any portion of the Annuity Account Value (less any applicable Withdrawal Chargewithdrawal charge) will be made within seven days after the Transaction Date. Payments or applications of proceeds from a Separate Account may be deferred for any period during which (1) the New York Stock Exchange is closed or trading is restricted, (2) sales of securities or determination of the fair value of the Separate Account's assets is not reasonably practicable because of an emergency, or (3) the Securities and Exchange Commission, by order, permits Equitable us to defer payment in order to protect persons with interests in the Variable Separate Account. Equitable We may defer payment or transfer of any portion of the Annuity Account Value in the Guaranteed Interest Account Option and the Fixed Maturity Options for up to six months while the Owner Participant is living.

Appears in 1 contract

Samples: Group Flexible Premium Deferred Variable Annuity Contract (Separate Account a of Equitable Life Assu Soc of the Us)

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