Guaranteed Payment Period Sample Clauses

Guaranteed Payment Period. The period of time, shown in Section 1, Contract Data, during which one of the following conditions must exist to prevent your contract from lapsing: (1) the Cash Surrender Value of the contract on a Monthly Anniversary Day must be sufficient to cover the Monthly Deduction; or (2) total premiums paid must be at least equal to the sum of the guaranteed monthly premiums for each month the contract has been in force, plus any loan balance and the total amount of partial surrenders, as provided in Section 5.8, Grace Period.
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Guaranteed Payment Period. The period of time, shown in Section 1, Contract Data, during which one of the following conditions must exist to prevent your contract from lapsing: 1) the Cash Surrender Value of the contract on a Monthly Anniversary Day must be sufficient to cover the Monthly Deduction; or 2) total premiums paid must be at least equal to the sum of the Guaranteed Monthly Premiums for each month the contract has been in force, plus loan balance and the total amount of partial surrenders, as provided in Section 5.8, Grace Period and Contract Lapse. Monthly deductions continue during the Guaranteed Payment Period. The Cash Surrender Value at the end of the Guaranteed Payment Period may be insufficient to keep the contract from lapsing unless an additional payment is made at that time.
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Guaranteed Payment Period. The period of time over which income payments are guaranteed to be paid.
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Guaranteed Payment Period. The period of time during which Annuity Payments are certain and guaranteed. Internal Revenue Code (IRC) or the Code – The United States Internal Revenue Code of 1986, as amended.
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Related to Guaranteed Payment Period

  • Guaranteed Payments To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.

  • Payment Period Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of Company.

  • Delayed Payment Premium balances that remain unpaid for more than thirty (30) days after the Remittance Date will incur interest from the end of the reporting period. The Remittance Date is defined as thirty (30) days after the end of the reporting period. Interest will be calculated using the index specified in Article 13.5 − Interest Rate.

  • Returned Payment Fee If your account is subject to a Returned Payment Fee, the fee will be charged to your account when a payment is returned for any reason.

  • Deferred Payment “Deferred Payment” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.