FLEXIBLE PURCHASE PAYMENTS Sample Clauses

FLEXIBLE PURCHASE PAYMENTS. This Contract will not be in force until we receive at our Home Office the initial Purchase Payment. You may make additional Purchase Payments at any time before the Annuity Start Date, while the Owner is living, and this Contract is in force. Purchase Payments are payable in U.S. dollars and checks should be made payable to SBL. PURCHASE PAYMENT LIMITATIONS Purchase Payments exceeding $1,000,000 will not be accepted without prior approval by SBL. The Minimum Subsequent Purchase Payment amount is shown on page 3. PURCHASE PAYMENT ALLOCATION Purchase Payments will be allocated among the Fixed Account and the Subaccounts. The allocations may be a whole dollar amount or a whole percentage and no less than $25 per Purchase Payment may be allocated to any Account. Purchase Payments will be allocated according to the Owner's instructions in the Application or more recent instructions, if any. The Owner may change the allocations by written notice to SBL.
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FLEXIBLE PURCHASE PAYMENTS. This Contract will not be in force until we receive at our Administrative Office the initial Purchase Payment. You may make additional Purchase Payments at any time before the Annuity Start Date, while the Owner is living, and this Contract is in force. Purchase Payments are payable in U.S. dollars and checks should be made payable to FSBL.
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FLEXIBLE PURCHASE PAYMENTS. The Contract is bought for: (1) The First Purchase Payment; and (2) purchase payments made after the First, if any. The cumulative total of all purchase payments under this and any other annuity contract(s) issued by the Company having the same Designated Annuitant may not exceed $1,000,000 without the prior consent of the Company.
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FLEXIBLE PURCHASE PAYMENTS. Deferred Variable Annuity Contract • Surrender charges may be waived under specified conditions • This contract is nonparticipating — dividends are not payable This is a deferred variable annuity contract. It is a legal contract between You, as the Owner, and Us.
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FLEXIBLE PURCHASE PAYMENTS. Purchase Payments are credited to the contract on the Valuation Date coincident with or next following the day they are received in our home office. If they are received on a day that is not a Valuation Date, those amounts will be credited on the next Valuation Date. ICC20-70632 [A123456] Minnesota Life 6 This is a flexible premium contract and you may choose when to make additional Purchase Payments. You may make additional Purchase Payments at any time before the Annuity Commencement Date, while the Owner is still living, and this contract is in force. We may permit your employer to remit Purchase Payments on your behalf. Additional Purchase Payments may not be made during periods in which you are eligible for a withdrawal or surrender without charge due to your confinement in a hospital or medical care facility or in the event you are diagnosed with a terminal condition. These provisions are described in the Hospital, Medical Care, and Terminal Condition Waiver Endorsement.
Sample 1
FLEXIBLE PURCHASE PAYMENTS. Purchase Payments are credited to the contract on the Valuation Date coincident with or next following the day they are received in our home office. If they are received on a day that is not a Valuation Date, those amounts will be credited on the next Valuation Date. This is a flexible premium contract and you may choose when to make additional Purchase Payments. You may make additional Purchase Payments at any time before the Annuity Commencement Date, while the Owner is still living, and this contract is in force. We may permit your employer to remit Purchase Payments on your behalf. Additional Purchase Payments may not be made during periods in which you are eligible for a withdrawal or surrender without charge due to your confinement in a hospital or medical care facility or in the event you are diagnosed with a terminal illness. Eligibility for these benefits is as defined in the "Withdrawal and Surrender" section of this contract.
Sample 1
FLEXIBLE PURCHASE PAYMENTS. This Contract is bought for: (1) the Initial Purchase Payment; and (2) purchase payments made after the first, if any. The cumulative total of all purchase payments under this and any other annuity contract(s) issued by the Company having the same Annuitant may not exceed $1,000,000 without the prior consent of the Company. INITIAL PURCHASE PAYMENT The Initial Purchase Payment is due on the Date of Issue. The Initial Purchase Payment may not be less than $5,000 for Non-Qualified Contracts. However, if periodic payments are expected by the company, this Initial Purchase Payment may be satisfied by purchase payments made on an annualized basis. For Qualified Contracts issued pursuant to a retirement plan which receives favorable tax treatment under the provisions of Section 408 of the Internal Revenue Code; the minimum purchase payments $2,000. However, if periodic payment are expected by the Company, the Company will accept purchase payments which, on an annualized basis, are at least $2,000 for the first Contract Year. Purchase Payments, if any, after the first Contract Year must be at least $10 each. The Company reserves the right to reject any Purchase Payment which does not meet this minimum payment requirement. NO DEFAULT There are no penalties for failure to continue Purchase Payments. Unless surrendered for the full Contract Value, the Contract will continue in full force until the Annuity Commencement Date. This Contract will not be in default, even if no additional purchase payment are made after the first.
Sample 1
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FLEXIBLE PURCHASE PAYMENTS. This Contract is bought for: (1) the Initial Purchase Payment; and (2) purchase payments made after the first, if any. The cumulative total of all purchase payments under this and any other annuity contract(s) issued by the Company having the same Annuitant may not exceed $1,000,000 without the prior consent of the Company. INITIAL PURCHASE PAYMENT The Initial Purchase Payment is due on the Date of Issue. The Initial Purchase Payment may not be less than $5,000 for Non-Qualified Contracts. However, if periodic payments are expected by the Company, this Initial Purchase Payment may be satisfied by purchase payments made on an annualized basis. For Qualified Contracts issued pursuant to a retirement plan which receives favorable tax treatment under the provisions of Section 408 of the Internal Revenue Code; the minimum purchase payment is $2,000. However, if periodic payments are expected by the Company, the Company will accept purchase payments which, on an annualized basis, are at least $2,000 for the first Contract Year. Purchase Payments, if any, after the first Contract Year must be at least $10 each. The Company reserves the right to reject any Purchase Payment which does not meet this minimum payment requirement. NO DEFAULT There are no penalties for failure to continue Purchase Payments. Unless surrendered for the full Contract Value, the Contract will continue in full force until the Annuity Commencement Date. This Contract will not be in default, even if no additional purchase payments are made after the first. CHANGE IN PURCHASE PAYMENTS The Owner is not obligated to continue Purchase Payments. The Owner may: (1) increase or decrease the amount of Purchase Payments, subject to any minimum payment requirements; (2) change the frequency of Purchase Payments. A change in the frequency or amount of Purchase Payments does not have to be made by written request. ALLOCATION OF PURCHASE PAYMENTS The Owner elects to have the Purchase Payments allocated among the Fixed Account and the Sub-Accounts of the Variable Account at the time of application. CONTRACT VALUE The Contract Value at any time will be the sum of: (1) the Variable Account Contract Value; and (2) the Fixed Account Contract Value.
Sample 1
FLEXIBLE PURCHASE PAYMENTS. This Contract will not be in force until we receive at our Home Office the initial Purchase Payment. You may make additional Purchase Payments at any time before the Annuity Start Date, while the Owner is living, and this Contract is in force. Purchase Payments are payable in U.S. dollars and checks should be made payable to SBL.
Sample 1

Related to FLEXIBLE PURCHASE PAYMENTS

  • PURCHASE PAYMENTS Initial Purchase Payment — This Contract will not be in force until we receive at our Service Center the initial Purchase Payment. The initial Purchase Payment is shown in the Contract Specifications. Additional Purchase Payments — You may make additional Purchase Payments at any time before the Annuity Date, while the Owner or Annuitant is living and this Contract is in force. The minimum additional Purchase Payment amounts are shown in the Contract Specifications. A single Purchase Payment or the aggregate of all Purchase Payments may not exceed the Maximum Purchase Payment Amount Without Home Office Approval as shown in the Contract Specifications. Purchase Payments are payable in U.S. dollars at our Service Center. Checks should be made payable to Pacific Life Insurance Company. If you make Purchase Payments by check other than a cashier’s check, withdrawal payments and any refund under the Right to Cancel provision may be delayed until your check has cleared. Purchase Payment Allocation — Prior to the Annuity Date, you may allocate all or part of your Purchase Payments to one or more of the Investment Options available under this Contract. The Investment Options available on the Contract Date are shown in the Contract Specifications. You may change the Purchase Payment allocation by providing us with instructions in a form satisfactory to us. We will allocate any Purchase Payment according to your most recent allocation instructions. We may reject any instruction or Purchase Payment if your instructions are not clear and we cannot determine your allocation instructions.

  • Purchase Payment The Purchase Price shall be paid to the Company in cash, check or via wire transfer simultaneously with the Subscriber’s entry into this Agreement.

  • Purchase Price Payments 23 Section 10.02. THE PURCHASER NOTE.........................................................................23 ARTICLE XI Confidentiality.......................................................................................24 ARTICLE XII Term.................................................................................................25

  • Allocation of Purchase Payments The allocation of Purchase Payments is made in accordance with your selection made at the Issue Date. Unless you elect otherwise, subsequent Purchase Payments will be allocated in accordance with your initial selection. Allocation of the Purchase Payments is subject to the Allocation Requirements set forth on the Contract Schedule. If there are Joint Owners, unless we are instructed to the contrary, allocation instructions will be accepted from either one of the Joint Owners. ACCOUNT VALUE PROVISION ACCOUNT VALUE -- Your Account Value for any Business Day is the sum of your interests in the Subaccounts of the Separate Account as of such Business Day. The portion of your Account Value in a Subaccount is determined by multiplying the number of Accumulation Units allocated to the Contract for the Subaccount by the Accumulation Unit Value. ACCOUNT FEE -- We will deduct an Account Fee from your Account Value as set forth on the Contract Schedule. SEPARATE ACCOUNT PROVISIONS THE SEPARATE ACCOUNT -- The Separate Account is designated on the Contract Schedule and consists of assets, which are kept separate from our General Account assets and all of our other segregated asset accounts. The assets of the Separate Account, equal to reserves and other liabilities of your Contract and those of other owners who have an interest in the Separate Account, will not be charged with liabilities arising out of any other business we may do. The Separate Account assets are divided into Subaccounts. The assets of each Subaccount are allocated to an Investment Option. INVESTMENTS OF THE SEPARATE ACCOUNT -- Purchase Payments applied to the Separate Account are allocated to the Subaccounts of the Separate Account. We may, from time to time, add additional Investment Options. You may be permitted to transfer all or a portion of your Account Value to the additional Investment Option(s). However, the right to make any transfer will be limited by any terms and conditions in effect at the time of transfer. If the shares of any of the Investment Options become unavailable for investment by the Separate Account, or we deem further investment in these shares inappropriate, we may prohibit or otherwise limit further purchase of such shares or substitute shares of another Investment Option for shares already purchased under this Contract, subject to obtaining any necessary regulatory approvals. CHANGE IN OPERATION -- We reserve the right to transfer assets of the Separate Account to another account, and to modify the structure or operation of the Separate Account, subject to obtaining any necessary regulatory approvals. If we do so, we guarantee that such modification will not affect your Account Value. VALUATION OF ASSETS -- Assets of the Separate Account are valued at their fair market value in accordance with our procedures. ACCUMULATION UNIT -- Accumulation Units shall be used to account for all amounts allocated to or withdrawn from a Subaccount of the Separate Account as a result of Purchase Payments, withdrawals, transfers, or fees and charges. We will determine the number of Accumulation Units of a Subaccount purchased or canceled. This is done by dividing the amount allocated to (or the amount withdrawn from) the Subaccount, by the dollar value of one Accumulation Unit of the Subaccount as of the end of the Business Day during which the Notice for the transaction is received at the Annuity Service Office. ACCUMULATION UNIT VALUE -- The initial Accumulation Unit Value for each Subaccount was set by us. Subsequent Accumulation Unit values for each Subaccount are determined by multiplying the Accumulation Unit Value for the immediately preceding Business Day by the Net Investment Factor of the Subaccount for the current Business Day. The Accumulation Unit Value may increase or decrease from Business Day to Business Day. NET INVESTMENT FACTOR -- The Net Investment Factor for each Subaccount is determined by dividing A by B and multiplying by (1-C) where: A is (i) the net asset value per share of the Investment Option held by the Subaccount at the end of the current Business Day; plus

  • Agreement to Purchase Purchase Price a. Upon the terms and subject to the conditions of this Agreement, on the Purchase Date (as defined below) the Company will issue and sell to Purchaser, and Purchaser agrees to purchase from the Company, ________ (------) shares of the Company's Common Stock (the "Shares") at a purchase price of _______ ($_____) per Share, for a total purchase price of _______________ ($_______). The term "Shares" refers to the purchased Shares and all securities received in replacement of or in connection with the Shares pursuant to stock dividends or splits, all securities received in replacement of the Shares in a recapitalization, merger, reorganization, exchange or the like, and all new, substituted or additional securities or other properties to which Purchaser is entitled by reason of Purchaser's ownership of the Shares.

  • Purchase Price Payment Purchaser shall deliver to SAFEDOX the sum of $5,000 in payment of the 16,667 shares of Common Stock purchased by Purchaser hereunder, a per share price of $.30, which payment shall be delivered as provided in paragraphs VI and VII hereinbelow.

  • Purchase and Contribution Transferor agrees to contribute and Transferee agrees to acquire the Property for the Purchase Price.

  • Advance Payments Payments made by the Borrower to satisfy future installments must be accounted for as prepaid installments of principal and interest. The Servicer should contact the Borrower if there is a question about the Borrower's intention in making any unscheduled payment.

  • Lease Payments No Borrower will, or will permit any Subsidiary to, directly or indirectly, incur or assume (whether pursuant to a Guarantee or otherwise) any liability for rental payments except in the Ordinary Course of Business.

  • Mortgage Payments Received After Transfer Date The amount of any related Monthly Payments received by the Seller after the related Transfer Date shall be forwarded to the Purchaser by overnight mail within one (1) Business Day following the date of receipt. The Seller shall notify the Purchaser of the particulars of the payment, which notification requirement shall be satisfied if the Seller forwards with its payment sufficient information to permit appropriate processing of the payment by the Purchaser. The Seller shall assume full responsibility for the necessary and appropriate legal application of such Monthly Payments received by the Seller after the related Transfer Date with respect to related Mortgage Loans then in foreclosure or bankruptcy; provided, for purposes of this Agreement, necessary and appropriate legal application of such Monthly Payments shall include, but not be limited to, endorsement of a Monthly Payment to the Purchaser with the particulars of the payment such as the account number, dollar amount, date received and any special Mortgagor application instructions and the Seller shall comply with the foregoing requirements with respect to all Monthly Payments received by it after the related Transfer Date.

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