EIGHTEEN MONTH SURRENDER Sample Clauses

EIGHTEEN MONTH SURRENDER. The Custodian and the Sponsor agree that a Planholder has a privilege for 18 months (or longer, if required by state law) to surrender his Plan and receive the net asset value of the Fund Shares held in his account at the time, plus the amount by which the Creation and Sales Charges deducted from payments exceed 15% of the payments he has made up to the date of the surrender of the Plan. Upon the written request by the Planholder, the Custodian shall liquidate Fund Shares and pay the proceeds to the Planholder who has exercised the foregoing privilege. Any excess amount due the Planholder shall be paid directly by the Sponsor. The Planholder shall not be entitled to be refunded any custodial fees previously paid. The 18-month period (or such longer period as required by state law) shall run from the date on which the Plan is issued. The Planholder must request his refund in writing, addressed to the Custodian. The Custodian will send to the Planholder a notice within 30 days if either of the following occurs: (a) if, during the first 15 months after the date of the issuance of a Plan, the Planholder has missed three payments or more; or (b) if, following the first 15 months after the date of issuance of the Plan (but prior to 18 months after such date) the Planholder has missed one payment or more. In the event the Sponsor has previously sent a notice in connection with (a) above, a second notice will not be sent even if additional payments are missed. These notices will inform the Planholder of his rights of cancellation as set forth above, of the value of his account at the time the notice is sent and of the amount to which he is entitled.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
EIGHTEEN MONTH SURRENDER. 17 4. Partial Withdrawal and Liquidation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 5.
Sample 1
EIGHTEEN MONTH SURRENDER. The Custodian and the Sponsor agree that a Planholder has a privilege for 18 months (or longer, if required by state law) to surrender his Plan and receive the net asset value of the Fund Shares held in his account at the time, plus the amount by which the Creation and Sales Charges deducted from payments exceed 15% of the payments he has made up to the date of the surrender of the Plan. Upon the written request by the Planholder, the Custodian shall liquidate Fund Shares and pay the proceeds to the Planholder who has exercised the foregoing privilege. Any excess amount due the Planholder shall be paid directly by the Sponsor. The Planholder shall not be entitled to be refunded any custodial fees previously paid. The 18-month period (or such longer period as required by state law) shall run from the date on which the Plan is issued. The Planholder must request his refund in writing, addressed to the Custodian. The Custodian will send to the Planholder a notice within 30 days if either of the following occurs: (a) if, following the
Sample 1

Related to EIGHTEEN MONTH SURRENDER

  • Maturity; Surrender, Etc In the case of each prepayment of Notes pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment, together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note.

  • Cash Surrender Value The Cash Surrender Value is the Accumulated Value less any Surrender Charge.

  • Release/Surrender The Shares, together with any other assets or securities held in escrow hereunder, shall be subject to the following terms and conditions relating to their release from escrow or their surrender to the Company for cancellation:

  • Surrender Holding Over Upon the expiration or earlier termination of this Sublease, Subtenant shall surrender possession of the Sublease Premises to Sublandlord, in the same condition as the Sublease Premises were in on the first day of the Sublease Term, ordinary wear and tear excepted. If Subtenant holds over after the expiration of the Sublease Term by lapse of time, with Sublandlord’s consent but without any written agreement providing otherwise, then Subtenant shall be deemed to be a subtenant from month to month, at a monthly Rent equal to 150% of the monthly Rent for the final month of the Sublease Term, and subject to all of the other provisions and conditions of this Sublease. Nothing in this provision shall be construed to require Sublandlord to permit Subtenant to occupy the Sublease Premises after the end of the Sublease Term, or, if Sublandlord has permitted Subtenant to occupy the Sublease Premises for any period as a subtenant from month to month, to prevent Sublandlord from terminating such subtenancy at the end of any month. If Subtenant holds over after the expiration of the Sublease Term by lapse of time, without Sublandlord’s written consent, Subtenant shall be guilty of an unlawful detention of the Sublease Premises and shall be liable to Sublandlord for damages for use of the Sublease Premises during the period of such unlawful detention and shall pay rent equal to 200% of the Rent for the final month of the Sublease Term, plus any and all consequential damages suffered by Sublandlord (including, without limitation, damages payable by Sublandlord to Landlord by reason of Subtenant’s holdover). In the event of such holding over, Subtenant shall indemnify and hold Sublandlord harmless from and against any and all claims, suits, proceedings, losses, damages, liabilities, costs and expenses, including, without limitation, reasonable attorneys’ fees and disbursements, asserted against or incurred by Sublandlord as a result of such unapproved holding over. Notwithstanding the foregoing, Sublandlord shall be entitled to all other remedies and damages provided under this Sublease or at law or in equity.

  • Commencement Date Landlord shall deliver possession of the Premises to Tenant on the date (the “Delivery Date”) that Landlord’s Market Ready Improvements described on EXHIBIT C attached hereto and the Tenant Improvements to be completed by Landlord pursuant to the Work Letter Agreement attached hereto as EXHIBIT D are substantially completed. For purposes of this Lease, Landlord’s Market Ready Improvements and the Tenant Improvements shall be deemed to be “substantially completed” when Landlord’s Market Ready Improvements and the Tenant Improvements have been completed in accordance with any plans and specifications therefor, subject only to the completion of any minor punch-list items, and the City of Sunnyvale has completed a final inspection of such work and issued a temporary certificate of occupancy or other written approvals permitting legal occupancy of the Premises. The term of this Lease (“Term”) shall be seventy-six (76) months commencing on the date (the “Commencement Date”) which is thirty (30) days from the Delivery Date. If the Delivery Date does not occur on or before May 1, 2018, for any reason other than (i) ArcTec’s failure to complete the Final Plans and Specifications (as such term is defined in the Work Letter attached as EXHIBIT D) and submit such Final Plans and Specifications (and any other documentation required by the City of Sunnyvale for the issuance of a building permit for the Tenant Improvements) to Landlord’s general contractor by January 8, 2018, (ii) the City requiring Landlord to stop construction due to its commencement of the Tenant Improvements before the permits therefor were issued or (iii) delays caused by the acts or omission of Tenant, as defined in Paragraph 3(c) below, then the date Tenant is otherwise obliged to commence payment of Rent shall be delayed by one (1) additional day for each day the Delivery Date is delayed beyond such date.

  • Surrender Value After deduction of the Maintenance Fee (if any), the amount paid by Aetna upon surrender of any portion of the Plan Account will be reduced by a Surrender Fee. The Surrender Fee will be in accordance with the Surrender Fee table in 6.02.

  • Remaining Balance Each Receivable has a remaining balance of at least $5,000.00 and not greater than $67,815.21.

  • Original Term The weighted average original term for the Receivables is at least 65 months.

  • Cancellation and Destruction of Surrendered Certificates All Certificates Surrendered to the Trustee shall be canceled by the Trustee. The Trustee is authorized to destroy Certificates so canceled.

  • Cancellation and Destruction of Surrendered Receipts All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelled.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!