ELECTION OF AN OPTION Sample Clauses

ELECTION OF AN OPTION. If your spouse is the sole surviving Owner, then the spouse may elect, in lieu of receiving the Cash Surrender Value and to the extent permitted by law, to continue this contract in force as the owner. The Cash Surrender Value payable under this provision will be calculated on the later of: The end of the Valuation Period during which we receive proof of death; and The end of the Valuation Period during which we receive signed notice of the owner's or Successor Owner's election to receive the Cash Surrender Value or a later date requested in that notice and agreed to by us.
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ELECTION OF AN OPTION. You may elect an option by Written Notice during the Insured's lifetime. The option must be elected before proceeds become payable. Assignees and third-party owners may elect an option only with our consent. Each payee under Options 4 and 5 must be a natural person. If Death Proceeds are payable, the beneficiary may elect a settlement option provided that: 1) The manner of settlement has not been restricted before the Insured's death; and 2) Death Proceeds have not been paid. Election of an option is subject to these conditions:
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ELECTION OF AN OPTION. You may elect an option by Written Notice during an Annuitant's lifetime. The option must be elected before proceeds become payable. Assignees and third-party owners may elect an option only with our consent. Each payee under Options 4, 4V, 5 and 5V must be a natural person who is an Annuitant or a beneficiary. If Death Proceeds are payable, the beneficiary may elect a settlement option provided that: 1) The manner of settlement has not been restricted before the Annuitant's death; 2) The Death Proceeds have not been paid; and
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ELECTION OF AN OPTION. You may elect an option by Written Notice during the Insured's lifetime. The option must be elected before proceeds become payable. Assignees and third-party owners may elect an option only with our consent. Election of Option 4 may be made only if the payee is a natural person who is the Insured or a beneficiary. * If Death Proceeds are payable, the beneficiary may elect a * settlement option provided that: 1) The manner of settlement has not been restricted before the Insured's death; and 2) The Death Proceeds have not been paid. Election of an option is subject to these conditions: 1) Payments must not be less than $25; 2) Payments are made only at annual, semiannual, quarterly or monthly intervals; and 3) The first payment, except under Option 1 - Interest Income, is payable as of the date the option becomes effective. Under Option 1, interest is payable at the end of the first payment interval. * If the beneficiary does not receive Death Proceeds or elect a * settlement option by the date one year after we receive proof of * the Insured's death, Death Proceeds will then be calculated and * applied under Option 1 - Interest Income. Contract Number: LV1234567 OPTION 3 GUARANTEED MONTHLY PAYMENTS FOR EACH $1,000 OF PROCEEDS ======================================================================================================================== Years Monthly Years Monthly Years Monthly Years Monthly Years Monthly Payable Payment Payable Payment Payable Payment Payable Payment Payable Payment ------------------------------------------------------------------------------------------------------------------------ 1 84.65 7 13.37 13 7.93 19 5.96 25 4.96 2 43.05 8 11.89 14 7.48 20 5.75 26 4.84 3 29.19 9 10.75 15 7.10 21 5.56 27 4.73 4 22.26 10 9.83 16 6.76 22 5.39 28 4.62 5 18.11 11 9.08 17 6.46 23 5.23 29 4.53 6 15.34 12 8.46 18 6.20 24 5.09 30 4.44 ------------------------------------------------------------------------------------------------------------------------ Annual, Semiannual or Quarterly payments are 11.813, 5.957 and 2,991 respectively, times the Monthly payments. ======================================================================================================================== OPTION 4 MALE PAYEE - MONTHLY LIFE INCOME ======================================================================================================================== GUARANTEED MONTHLY LIFE INCOME FOR EACH $1,000 OF PROCEEDS -----------------------------------------------...
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ELECTION OF AN OPTION. For proceeds payable under a settlement agreement, a settlement option in Section 11.2 may be elected as follows:
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ELECTION OF AN OPTION. You may elect an option by Written Notice during an Annuitant's lifetime. The option must be elected before the Annuity Date. Assignees and third-party owners may elect an option only with our consent. Each payee under Options 4, 4V, 5 and 5V must be a natural person who is an Annuitant, a Successor Owner or a beneficiary. If Death Proceeds or the Cash Surrender are payable upon the death of an owner, the payee may elect a settlement option provided that: The manner of settlement has not been restricted before the owner's death; The Death Proceeds or Cash Surrender Value has not been paid; and Either: The principal and interest are completely distributed within 5 years after the date of death; or If the payee is a natural person, distribution the principal and interest is made by means of a periodic which: Begins within one year after the date of death; and Is not guaranteed for a period which extends beyond the life expectancy of the payee. Election of an option is subject to these conditions: Payments must not be less than $50; and Payments are made only at annual, semiannual, quarterly or monthly intervals.
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ELECTION OF AN OPTION. If you surrender this contract for its Cash Surrender Value, you may elect a settlement option under which the surrender proceeds will be paid. Assignees and third-party owners may elect an option only with our consent. If Death Proceeds are payable, the beneficiary may elect a settlement option provided that: 1) The manner of settlement has not been restricted before the Insured’s death; and 2) Death Proceeds have not been paid. Election of any settlement option is subject to these conditions: 1) Payments must not be less than $50; and 2) Payments are made only at annual, semiannual, quarterly, or monthly intervals. If payments would be or become less than $50, we reserve the right to change the frequency of payments to an interval such that payments are not less than $50.
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ELECTION OF AN OPTION. You may elect an option by Written Notice during an Annuitant's lifetime. The option must be elected before the Annuity Date. Assignees and third-party owners may elect an option only with our consent. Each payee under Options 4, 4V, 5 and 5V must be a natural person who is an Annuitant, a Successor Owner or a beneficiary. If Death Proceeds or the Cash Surrender Value is payable upon the death of an owner (or an Annuitant if any owner is not a natural person), the payee may elect a settlement option provided that: The manner of settlement has not been restricted before the owner's death; The Death Proceeds or Cash Surrender Value has not been paid; and Either: The principal and earnings are completely distributed within 5 years after the date of death; or If the payee is a natural person who is a surviving owner or beneficiary, distribution of the principal and earnings is made by means of a periodic payment which: Begins within one year after the date of death; and Is made over the life of the payee or over a period not extending beyond the life expectancy of the payee. Election of an option is subject to these conditions: Payments must not be less than $50; and Payments are made only at annual, semiannual, quarterly or monthly intervals.
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ELECTION OF AN OPTION. You may elect an option by Written Notice during the Insured's lifetime. The option must be elected before proceeds become payable. Assignees and third-party owners may elect an option only with our consent. Election of Option 4 may be made only if the payee is a natural person who is the Insured or a beneficiary. If Death Proceeds are payable, the beneficiary may elect a settlement option within one year from the date of death provided that: 1) The manner of settlement has not been restricted before the Insured's death; and 2) The Death Proceeds have not been paid. Election of an option is subject to these conditions: 1) Payments must not be less than $25; 2) Payments are made only at annual, semiannual, quarterly or monthly intervals; and 3) The first payment, except under Option 1 - Interest Income, is payable as of the date the option becomes effective. Under Option 1, interest is payable at the end of the first payment interval. Contract Number: V1234567 OPTION 3 GUARANTEED MONTHLY PAYMENTS FOR EACH $1,000 OF PROCEEDS ======================================================================================================================== Years Monthly Years Monthly Years Monthly Years Monthly Years Monthly Payable Payment Payable Payment Payable Payment Payable Payment Payable Payment ------------------------------------------------------------------------------------------------------------------------ 1 84.65 7 13.37 13 7.93 19 5.96 25 4.96 2 43.05 8 11.89 14 7.48 20 5.75 26 4.84 3 29.19 9 10.75 15 7.10 21 5.56 27 4.73 4 22.26 10 9.83 16 6.76 22 5.39 28 4.62 5 18.11 11 9.08 17 6.46 23 5.23 29 4.53 6 15.34 12 8.46 18 6.20 24 5.09 30 4.44 ------------------------------------------------------------------------------------------------------------------------ Annual, Semiannual or Quarterly payments are 11.813, 5.957 and 2.991 respectively, times the Monthly payments. ======================================================================================================================== Contract Number: V1234567 OPTION 4 MALE PAYEE - MONTHLY LIFE INCOME ======================================================================================================================== GUARANTEED MONTHLY LIFE INCOME FOR EACH $1,000 OF PROCEEDS ======================================================================================================================== Payments Payments Payments Payments Payments Payments Age of Payee Guaranteed Guaranteed Age of Payee Guara...
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Related to ELECTION OF AN OPTION

  • Grant Award On and subject to the terms and conditions set forth herein, Triumph hereby agrees to make a grant (the “Grant”) to Grantee in the aggregate maximum amount of up to Two Hundred Thousand and 00/100 Dollars ($200,000.00) (the “Maximum Grant Amount”) to provide partial funding for the Project.

  • Deferral Election A Participant may elect to defer all or a specified percentage of the Compensation earned in a Plan Year by such Participant for serving as a member of the Board of any Participating Fund or as a member of any committee or subcommittee thereof. Reimbursement of expenses of attending meetings of the Board, committees of the Board or subcommittees of such committees may not be deferred. Such election shall be made by executing before the first day of such Plan Year such election notice as the Administrator may prescribe; provided, however, that upon first becoming eligible to participate in the Plan by reason of appointment to a Board, a Participant may file a Deferral Election not later than 30 days after the effective date of such appointment, which election shall apply to Compensation earned in the portion of the Plan Year commencing the day after such election is filed and ending on the last day of such Plan Year.

  • Allocation of Award The total Award made with respect to the Leased Property or for loss of rent, or for Lessor’s loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee’s business during the remaining Term, if any, for the taking of Lessee’s Personal Property, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, Lessee shall not initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to Lessor.

  • Notification of Award 2.28.1 Prior to the expiration of the period of tender validity, the Procuring entity will notify the successful tenderer in writing that its tender has been accepted. 2.28.2 The notification of award will constitute the formation of the Contract but will have to wait until the contract is finally signed by both parties 2.28.3 Upon the successful Tenderer’s furnishing of the performance security pursuant to paragraph 2.28, the Procuring entity will promptly notify each unsuccessful Tenderer and will discharge its tender security, pursuant to paragraph 2.14

  • Termination of Award In the event that the Employee shall forfeit all or a portion of the restricted stock units subject to the Award, the Employee shall promptly return this Agreement to the Company for cancellation. Such cancellation shall be effective regardless of whether the Employee returns this Agreement.

  • Time and Method of Payment (Amounts Distributed by the Administrative Agent). Except as otherwise provided in Section 4.02, all amounts payable to any Funding Agent or Investor hereunder or with respect to the Series 2019-1 Class A-1 Advance Notes shall be made to the Administrative Agent for the benefit of the applicable Person, by wire transfer of immediately available funds in Dollars not later than 3:00 p.m. (Eastern time) on the date due. The Administrative Agent will promptly, and in any event by 5:00 p.m. (Eastern time) on the same Business Day as its receipt or deemed receipt of the same, distribute to the applicable Funding Agent for the benefit of the applicable Person, or upon the order of the applicable Funding Agent for the benefit of the applicable Person, its pro rata share (or other applicable share as provided herein) of such payment by wire transfer in like funds as received. Except as otherwise provided in Section 2.07 and Section 4.02, all amounts payable to the Swingline Lender or the L/C Provider hereunder or with respect to the Swingline Loans and L/C Obligations shall be made to or upon the order of the Swingline Lender or the L/C Provider, respectively, by wire transfer of immediately available funds in Dollars not later than 3:00 p.m. (Eastern time) on the date due. Any funds received after that time on such date will be deemed to have been received on the next Business Day. The Master Issuer’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Master Issuer to the Administrative Agent as provided herein or by the Trustee or Paying Agent in accordance with Section 4.02, whether or not such funds are properly applied by the Administrative Agent or by the Trustee or Paying Agent. The Administrative Agent’s obligations hereunder in respect of any amounts payable to any Investor shall be discharged to the extent funds are disbursed by the Administrative Agent to the applicable Funding Agent as provided herein whether or not such funds are properly applied by such Funding Agent.

  • PARTICIPANT’S ACCEPTANCE The undersigned hereby accepts the foregoing Option and agrees to the terms and conditions hereof, including the terms and provisions of the 2015 Equity Incentive Plan. The undersigned hereby acknowledges receipt of a copy of the Company’s 2015 Equity Incentive Plan.

  • Joint Election As a condition of the Units granted hereunder, you agree to accept any liability for secondary Class 1 National Insurance Contributions (the “Employer NICs”), which may be payable by the Company or your Employer with respect to the Units and/or payment of the Units and issuance of Shares pursuant to the Units, the assignment or release of the Units for consideration, or the receipt of any other benefit in connection with the Units. Without limitation to the foregoing, you agree to make an election (the “Election”), in the form specified and/or approved for such election by HMRC, that the liability for your Employer NICs payments on any such gains shall be transferred to you to the fullest extent permitted by law. You further agree to execute such other elections as may be required between you and any successor to the Company and/or your Employer. You hereby authorize the Company and your Employer to withhold such Employer NICs by any of the means set forth in Section III of the Agreement. Failure by you to enter into an Election, withdrawal of approval of the Election by HMRC or a joint revocation of the Election by you and the Company or your Employer, as applicable, shall be grounds for the forfeiture and cancellation of the Units, without any liability to the Company or your Employer.

  • Award Agreement Each Option shall be evidenced by an Award Agreement that shall specify the Exercise Price, the expiration date of the Option, the number of Shares to which the Option pertains, any conditions to exercise of the Option, and such other terms and conditions as the Committee, in its discretion, shall determine. The Award Agreement shall specify whether the Option is intended to be an Incentive Stock Option or a Non-qualified Stock Option.

  • Service Award Named Plaintiff may apply to the Court for a service award of up to ten thousand dollars ($10,000). Subject to the Court’s approval, the service award shall be paid from the Settlement Fund ten (10) days after the Effective Date.

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