Installment Frequency Options Clause Samples
The Installment Frequency Options clause defines how often payments are to be made under an agreement, specifying the intervals at which installments are due. This clause typically outlines whether payments will occur monthly, quarterly, annually, or according to another agreed schedule, and may allow the parties to select or negotiate the preferred frequency. By clearly establishing the timing of payments, this clause helps both parties plan their cash flow and reduces the risk of misunderstandings or disputes regarding payment expectations.
Installment Frequency Options. Installment Frequency Options are as follows: • Annual - the ▇▇▇ will be paid on the Initial Installment Date and each anniversary annually thereafter. • Semi-Annual - half of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every 6 month anniversary thereafter. • Quarterly - one quarter of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every 3 month anniversary thereafter. • Monthly - one-twelfth of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every monthly anniversary thereafter. A GLWB Participant can change the frequency of Installments at any time before the Settlement Phase by providing Great-West with at least 30 calendar days’ advance notice of the GLWB Participant’s request to change the frequency of Installments.
Installment Frequency Options. Installment Frequency Options are as follows:
(a) Annual – the ▇▇▇ will be paid on the Initial Installment Date and each anniversary annually thereafter.
(b) Semi-Annual – half of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every 6 month anniversary thereafter.
(c) Quarterly – one quarter of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every 3 month anniversary thereafter.
(d) Monthly – one-twelfth of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every monthly anniversary thereafter. If an Installment is scheduled to be made on a non-Business Day, the Installment shall be paid on the next Business Day.
Installment Frequency Options. Installment Frequency Options are as follows: • Annual - the ▇▇▇ will be paid on the Initial Installment Date and each anniversary annually thereafter. • Semi-Annual - half of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every 6 month anniversary thereafter. • Quarterly - one quarter of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every 3 month anniversary thereafter. • Monthly - one-twelfth of the ▇▇▇ will be paid on the Initial Installment Date and in Installments every monthly anniversary thereafter. An IRA Owner can change the frequency of Installments at any time before the Settlement Phase by providing Great-West with at least 30 calendar days’ advance notice of the IRA Owner’s request to change the frequency of Installments.