GUARANTEED ACCOUNTS Sample Clauses
The "Guaranteed Accounts" clause establishes that certain accounts or financial obligations are backed by a guarantor, who promises to fulfill payment or performance if the primary party defaults. In practice, this clause typically applies to accounts receivable or debts, where a third party, such as a parent company or individual, guarantees the payment owed to a creditor. This arrangement provides the creditor with additional security, ensuring that they can recover amounts due even if the original debtor fails to pay. The core function of this clause is to reduce the creditor's risk by providing a secondary source of payment, thereby enhancing the reliability of financial transactions.
GUARANTEED ACCOUNTS. Net Purchase Payments (see Section 4.2) and amounts transferred from other Investment Accounts under this contract (see Section 4.4) may be applied to a Guaranteed Account. Contract benefits placed under a variable payment plan may not be applied to a Guaranteed Account. Amounts applied to a Guaranteed Account become part of the general assets of the Company.
GUARANTEED ACCOUNTS. You acknowledge that, if your account is guaranteed by a third party, we are under no obligation to seek recovery under any such guarantee or from any third party. Any guarantee provided by you to any ▇▇ ▇▇▇▇▇▇ Entity shall continue to be effective or be reinstated (as the case may be) if at any time all or any part of any payment or interest or other performance by the obligor under such guarantee is avoided or is otherwise restored or repaid by any ▇▇ ▇▇▇▇▇▇ Entity.
GUARANTEED ACCOUNTS. The Company may defer paying contract values from Guaranteed Accounts for up to six months from the effective date of the withdrawal or full surrender. If payment is deferred for 30 days or more, interest will be paid on the withdrawal amounts at an annual effective interest rate in accordance with the laws of the state in which this contract is delivered.
GUARANTEED ACCOUNTS. The portion of the Contract that is credited with a guaranteed interest rate and which is held as part of the general assets of the Company. The Guaranteed Accounts are the Guaranteed Interest Fund 1 and the Multi-Year Guaranteed Interest Funds. The Guaranteed Accounts may consist of Class A Guaranteed Accounts and Class B Guaranteed Accounts.
GUARANTEED ACCOUNTS. You acknowledge that if your account is guaranteed by a third party, we are under no obligation to seek recovery under any such guarantee or from any third party.
GUARANTEED ACCOUNTS. The portion of the contract that is credited with a guaranteed interest rate and which is held as part of the general assets of the Company. The Guaranteed Accounts are the Guaranteed Interest Fund 1 and the Multi-Year Guaranteed Interest Funds. The Guaranteed Accounts may consist of Class A Guaranteed Accounts and Class B Guaranteed Accounts. GUARANTEED PERIOD. A period for which the Company has declared an annual effective interest rate on an amount in a Guaranteed Account. A Guaranteed Period will not extend beyond the Maturity Date.
GUARANTEED ACCOUNTS. Accounts may be guaranteed only by Sales Representatives who have sufficient credit balances on their Commission Statements. The credit balance should cover all accounts guaranteed to date and the required percentage of holdback on their Receivables Balance must be present on their commission statement in the form of a credit balance. All guaranteed accounts must be guaranteed in full. Partial guarantees on specific orders are not allowed with the exception of bankrupt accounts. All guarantees must be in writing on ZDF-205 (Entire Account) or ZDF -205a (Order Only). Sales Representatives on the springboard program are NOT allowed to guarantee accounts. Newer Sales Representatives, beyond springboard, should have the approval of their supervisor to guarantee an account.