INDEXED ACCOUNT Sample Clauses

INDEXED ACCOUNT. An account that We establish, subject to the terms of this Contract. INDEXED ANNIVERSARY DATE -- The same calendar month and day as the Initial Start Date under this Contract, each calendar year. If in any calendar year such Indexed Anniversary Date is not a Valuation Date, any transactions involving the Indexed Accounts that should have occurred on the Indexed Anniversary Date will be processed by Us on the first Valuation Date following that Indexed Anniversary Date. INDEX VALUE -- The published closing value of an Index on a Valuation Date. If an Index Value is not published for a particular day, We will use the closing Index Value on the next day it is published. In the event that the Index Value for an Index is not published on a particular day when the Index Values for other indexes available with this Contract are published, We will use the closing Index Value for that Index as of the day it was last published. INITIAL START DATE -- The same Valuation Date as the Contract Date. This Contract will only have one Initial Start Date and once set, the date will not change. INTERIM VALUE -- The value that We establish for each Segment of a particular Indexed Account, on any Valuation Date following its Start Date, and prior to its End Date. The method for determining the Interim Value for a Segment of a particular Indexed Account is described in any Indexed Accounts Rider attached to this Contract. IRREVOCABLE BENEFICIARY -- A Beneficiary whose interest cannot be changed without that person’s consent. If the Beneficiary is designated as an Irrevocable Beneficiary, the Owner must receive written consent from the Beneficiary to exercise any right or option under this Contract. MATURITY DATE -- The date on which Annuity Payments must commence. The Maturity Date is shown on the Contract Specifications and is based on the original Annuitant’s date of birth. NATURAL PERSON -- A human being. NON-NATURAL PERSON -- A trust, corporation, partnership, or association. NOTICE, ELECTION OR REQUEST -- A Notice, Election, or Request to Us is any form of communication providing information, either in writing, or another manner acceptable to Us. Such communication must be received in Good Order and must include all required information necessary to be processed by Us. To be effective for any Valuation Date, a Notice, Election, or Request must be received in Good Order prior to the end of that Valuation Date. Any Notice from Us to the Owner or any other person, is a communi...
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INDEXED ACCOUNT. An option available to which You allocate the purchase payment and Contract Value, subject to the limits in the Transfer of Contract Value provision. Each Indexed Account includes an Index(es), Crediting Method, duration, and a protection option with a protection percentage. The Initial Indexed Account Options available as of the Contract Date are shown under Contract Data. An option available to which You may allocate Contract Value after the MVA Period or after a spousal continuation, subject to the limits in the Transfer of Contract Value provision. Also, used to hold amounts for any optional automated transfer program. Amounts applied to the Interim Account earn a declared rate of interest. Used to determine the value for each Segment and is equal to the amount allocated to the Segment, adjusted for partial surrenders. The Investment Base is separate from Your Contract Value and cannot be withdrawn in a lump sum or annuitized and is not payable as a death benefit.
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INDEXED ACCOUNT. An option available to which You may allocate the initial purchase payment and Contract Value, subject to the limits in the Transfer of Contract Value provision. Each Indexed Account includes an Index, Crediting Method, duration, and a Buffer or a Floor. The Initial Indexed Account Options available as of the Contract Date are shown under Contract Data. Used to hold additional purchase payments. Amounts applied to the Interim Account earn a declared rate of interest. Used to determine the value for each Segment and is equal to the amount allocated to the Segment, adjusted for partial surrenders. The Investment Base is separate from Your Contract Value and cannot be withdrawn in a lump sum or annuitized and is not payable as a death benefit.
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INDEXED ACCOUNT. The portion of Contract Value that can be either increased or decreased by the performance of an Index. Each Indexed Account has an associated Index, Indexed Interest Cap, Crediting Method and an Indexed Account Value. Each Indexed Account also includes the Return Lock feature.
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INDEXED ACCOUNT. Value The Indexed Account Value is the sum of the value of all open Segments. The value of a Segment at any point in time is equal to:
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INDEXED ACCOUNT. Value The Indexed Account Value is equal to the Interim Value on any Business Day except the first and last day of the Interest Term. On the first day of the Interest Term the Indexed Account Value equals the Base Value. On the last Business Day of the Interest Term, the Indexed Account Value equals the Base Value multiplied by the sum of 1 plus the Adjusted Index Return. Indexed Interest The dollar amount of interest credited, either positive, negative, or equal to zero, to an Indexed Account at the end of an Interest Term. Indexed Interest Buffer The maximum negative Index Return that will not result in a negative Adjusted Index Return being credited to the Indexed Account Value at the end of an Interest Term. Indexed Interest Cap The maximum Adjusted Index Return that can be credited under an Indexed Account for an Interest Term The initial Indexed Interest Cap applies to the initial Interest Term. Any Indexed Interest Caps, other than the initial Indexed Interest Cap, are set in our sole discretion but will not be less than the Guaranteed Minimum Indexed Interest Cap. Indexed Interest Floor The maximum negative Adjusted Index Return that can be credited under an Indexed Account at the end of an Interest Term. Interest Term For the Fixed Account, the period shown on your Contract Data Page over which interest is credited at a specified declared rate. For any Indexed Account, the period shown on your Contract Data Page over which performance of an Index is measured to determine Indexed Interest. Interim Value The Interim Value is the Indexed Account Value on any Business Day during an Interest Term except the first and last Business Days of the Interest Term. Owner The person(s) or legal entity named on the Contract application, unless changed. The Owner is entitled to exercise all rights and privileges under the Contract. If there is a joint Owner, the term Owner as used in the Contract includes the joint Owner named on the application, unless changed. Payee The person(s) or entity (or entities) designated by you to receive Annuity Payments during the Income Phase. You are the Payee unless you designate another person or an entity as the Payee. Purchase Payment The single premium paid to us under the Contract, less any applicable taxes due at the time this payment is made. Return Lock A feature of each Indexed Account which allows you to elect to set the Indexed Account Value equal to the Interim Value as of the Return Lock Date. If you exercise the Ret...
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Related to INDEXED ACCOUNT

  • FIXED ACCOUNT FIXED ACCOUNT The Fixed Account is comprised of a one-year Guaranteed Period Option and the Dollar Cost Averaging Fixed Option that we may choose to offer. Premium payments applied to and any amounts transferred to the Fixed Account will reflect a fixed interest rate. The interest rates we set will be credited for increments of at least one year measured from each premium payment or transfer date. These rates will never be less than the Fixed Account Guaranteed Minimum Effective Annual Interest Rate shown on Page 3. We reserve the right, at our sole discretion, to prohibit premium payments and/or transfers allocated to any of the Fixed Account options described in this section after the Policy Date. We will provide 30 days advance written notice of this decision. We will also provide timely written notification to You once any such prohibition of premium payments and/or transfers is no longer in effect. GUARANTEED PERIOD OPTION We will offer the one-year Guaranteed Period Option for the initial premium payment and may offer it for subsequent premium payments or amounts transferred to the Fixed Account. The current interest rate we set for funds entering a Guaranteed Period Option (GPO) is guaranteed until the end of that option's Guaranteed Period. At that time, the premium payment made or amount transferred into the GPO, less any Withdrawals or transfers from that GPO, plus accrued interest, will be rolled into a new one-year GPO or may be transferred to any Subaccount(s) within the Separate Account(s). You may choose the Investment Option(s) You want the funds transferred into by giving us a written notice within 30 days before the end of the expiring option's Guaranteed Period. However, any Guaranteed Period elected may not extend beyond the maximum Annuity Commencement Date defined in Section 11. In the absence of such election, the funds will be rolled into a new one-year GPO if we are allowing transfers into new one-year GPO's at that time You will be mailed a notice of completion of any rollover with the new interest rate applicable. The new GPO will be deemed as accepted if we do not receive a written rejection within 30 days from the postmark date of the completion notice. If we are prohibiting transfers into new one-year GPO's, we will provide 30 days advance written notice of this decision. We will also provide timely written notification to you once any such prohibition of transfers is no longer in effect. When funds are withdrawn or transferred from the one year GPO, the Policy Value associated with the oldest premium payment or rollover is considered to be withdrawn/transferred first. If the amount withdrawn/transferred exceeds the Policy Value associated with the oldest premium, the Policy Value associated with the next oldest premium payment or rollover is considered to be withdrawn/transferred next, and so on until the Policy Value associated with the most recent premium payment or rollover is considered to be withdrawn/transferred (this is a "First-In, First-Out" or FIFO basis).

  • Income Account The Trustee shall collect the dividends and other cash distributions on the Securities in each Trust which would be treated as dividend (other than capital gain dividends) or interest income under the Internal Revenue Code as such become payable (including all monies which would be so treated representing penalties for the failure to make timely payments on the Securities, or as liquidated damages for default or breach of any condition or term of the Securities or of the underlying instrument relating to any Securities and other income attributable to a Failed Contract Obligation for which no Replacement Security has been obtained pursuant to Section 3.12 hereof) and credit such income to a separate account for each Trust to be known as the "Income Account." Any non-cash distributions received by a Trust shall be sold to the extent they would be treated as dividend or interest income under the Internal Revenue Code and the proceeds shall be credited to the Income Account. Except as provided in the preceding sentence, non-cash distributions received by a Trust (other than a non-taxable distribution of the shares of the distributing corporation which shall be retained by a Trust) shall be dealt with in the manner described in Section 3.11, herein, and shall be retained or disposed of by such Trust according to those provisions and the proceeds thereof shall be credited to the Capital (Principal) Account. Neither the Trustee nor the Depositor shall be liable or responsible in any way for depreciation or loss incurred by reason of any such sale. All other distributions received by a Trust shall be credited to the Capital (Principal) Account."

  • Linked Accounts All accounts with the Bank that you enroll in a service will be linked by the tax identification numbers of the persons authorized to access the account. The linked accounts will appear together without regard to the ownership of the accounts. For example, if an authorized user of a linked account accesses the Service, that authorized user will be able to view and access at a single time the following accounts: • the accounts of the business for which that person is an authorized user; • the accounts of any other business for which that person is an authorized user; and • any consumer accounts for which the person is a co-owner or authorized signer.

  • Cash Account Except as otherwise provided in Instructions acceptable to Bank, all cash held in the Cash Account shall be deposited during the period it is credited to the Account in one or more deposit accounts at Bank or at Bank's London Branch. Any cash so deposited with Bank's London Branch shall be payable exclusively by Bank's London Branch in the applicable currency, subject to compliance with any Applicable Law, including, without limitation, any restrictions on transactions in the applicable currency imposed by the country of the applicable currency.

  • Multiple Accounts If Client opens more than one Account with this same Agreement using more than one New Account Form (electronically or otherwise), Client agrees that this Agreement applies to each individual Account. This is also true as to any additional Accounts opened in the future with additional New Account Forms. Client recognizes that each Account is independently managed and may not open at the same time. If Client terminates one or more Accounts, this Agreement stays in full force and effect as to all other Accounts still being managed. As to the closed accounts the sections listed in section 15 shall survive as provided above. In the case when assets within an Account will be liquidated in order to fund another Account, Management may liquidate these assets prior to the Account opening on Management’s reporting and portfolio management system. Thus, all reporting to Client from Management will not include these liquidating transactions. If Client is updating the equity strategy for a pre-existing account, please note that there may be a period of time in which the account cannot be traded, leaving the account temporarily exposed to market risk. If this is a new account that is being funded from existing Xxxxxxxxx managed account(s) under this same agreement, please note that for the funding account(s) there may be a period of time during which the account(s) cannot be traded, leaving the account(s) temporarily exposed to market risk. Management will use its sole discretion as to the timing of converting a pre-existing account into another equity strategy. Management may choose to delay the sale of certain investments due to tax or investment reasons while the remaining portion of the account is converted well in advance.

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Control Account The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

  • Account Types The Financial Institution agrees that each Collateral Account is, and will be maintained as, either a “securities account” (as defined in Section 8-501 of the UCC) or a “deposit account” (as defined in Section 9-102(a)(29) of the UCC).

  • Your Account If you use this site, you are responsible for maintaining the confidentiality of your account and password and for restricting access to your computer, and you agree to accept responsibility for all activities that occur under your account or password. You may not assign or otherwise transfer your account to any other person or entity. You acknowledge that ISR is not responsible for third party access to your account that results from theft or misappropriation of your account. ISR and its associates reserve the right to refuse or cancel service, terminate accounts, or remove or edit content in our sole discretion. ISR does not knowingly collect, either online or offline, personal information from persons under the age of thirteen. If you are under 18, you may use xxx.xxxxxxxxxxxxxxxxxxxxxxxxx.xxx only with permission of a parent or guardian. All cancellation or refund requests must be emailed to xxxxx@xxx-xxx.xxx for review. Some items may have a restocking fee, depending on product type and freight considerations. xxx.xxxxxxxxxxxxxxxxxxxxxxxxx.xxx may contain links to other websites ("Linked Sites"). The Linked Sites are not under the control of ISR and ISR is not responsible for the contents of any Linked Site, including without limitation any link contained in a Linked Site, or any changes or updates to a Linked Site. ISR is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement by ISR of the site or any association with its operators. Certain services made available via xxx.xxxxxxxxxxxxxxxxxxxxxxxxx.xxx are delivered by third party sites and organizations. By using any product, service or functionality originating from the xxx.xxxxxxxxxxxxxxxxxxxxxxxxx.xxx domain, you hereby acknowledge and consent that ISR may share such information and data with any third party with whom ISR has a contractual relationship to provide the requested product, service or functionality on behalf of xxx.xxxxxxxxxxxxxxxxxxxxxxxxx.xxx users and customers.

  • Interest Bearing Account If the Province provides Funds before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest bearing account in the name of the Recipient at a Canadian financial institution.

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