Installment Settlement of Guaranteed Contract Values Sample Clauses

Installment Settlement of Guaranteed Contract Values. The Company will pay the sum of the Variable Contract Values in respect of Participants as of the Date of Cessation of Deposits to a person designated in writing by the Group Policyholder as the successor insurer of the Plan or to the Group Policyholder within 30 days of the date the Cessation Option is Elected. The Company will pay the sum of the Guaranteed Contract Values in respect of Participants as of the Date of Cessation of Deposits to a person designated in Writing by the Group Policyholder as the successor insurer of the Plan or to the Group Policyholder in 20 equal quarterly installments. The amount of the installments will be the amount determined by the Company on the date of the first such payment, but not less than $514.80 for each $10,000 of Guaranteed Contract Values. The first payment will be made 30 days after the date the Cessation Option is Elected. TABLE A - Variable Life Annuity Monthly Payment for Each $1,000 of Participant Annuity Account Value ---------------------------------------------------------------------------------------------------------------- Age of Payee Without With Guaranteed Period Guaranteed Period ----------------------------------------------------------------- 5 Years 10 Years 15 Years 20 Years 50 3.83 3.83 3.82 3.80 3.78 55 4.13 4.12 4.10 4.07 4.02 60 4.52 4.51 4.48 4.41 4.31 65 5.06 5.04 4.97 4.84 4.64 70 5.82 5.77 5.61 5.33 4.94 75 6.93 6.80 6.41 5.82 5.19 ---------------------------------------------------------------------------------------------------------------- If payments commence on any other date than the exact age of the Payee as shown above, the amount of the monthly payment shall be determined by the Company on the actuarial basis used by it in determining the above amounts. TABLE B - Joint and One-Half Survivor Variable Annuity Monthly Payment for Each $1,000 of Participant Annuity Account Value -------------------- ------------------------------------------------------------------------------------- Age of Annuitant If Designated Payee Is Age ------------------------------------------------------------------------------------- 50 55 60 65 70 75 50 3.72 3.75 3.78 3.80 3.81 3.82 55 3.92 3.98 4.02 4.06 4.08 4.10 60 4.16 4.25 4.33 4.39 4.44 4.47 65 4.45 4.58 4.70 4.81 4.89 4.95 70 4.79 4.96 5.14 5.32 5.47 5.59 75 5.18 5.42 5.67 5.94 6.20 6.42 -------------------- ------------ -------------- ------------- ------------- -------------- -------------- If payments commence on any other date than the exac...
Sample 1
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Installment Settlement of Guaranteed Contract Values. The Company will pay the sum of the Variable Contract Values in respect of Participants as of the Date of Cessation of Deposits to a person designated in writing by the Group Policyholder as the successor insurer of the Plan or to the Group Policyholder within 30 days of the date the Cessation Option is Elected. The Company will pay the sum of the Guaranteed Contract Values in respect of Participants as of the Date of Cessation of Deposits to a person designated in writing by the Group Policyholder as the successor insurer of the Plan or to the Group Policyholder in 20 equal quarterly installments. The amount of the installments will be the amount determined by the Company on the date of the first such payment, but not less than $514.80 for each $10,000 of Guaranteed Contract Values. The first payment will be made 30 days after the date the Cessation Option is Elected. TABLE A - Variable Life Annuity Monthly Payment for Each $1,000 of Participant Annuity Account Value ------------------------------------------------------------------------------------------------------------------------ Age of Payee Without With Guaranteed Period Guaranteed Period ------------------------------------------------------------------------------------------------------------------------ 5 Years 10 Years 15 Years 20 Years -------------------------------------------------
Sample 1
Installment Settlement of Guaranteed Contract Values. The Company will pay the sum of the accumulation payment values with respect to participants as of the date of cessation of purchase payments in 20 equal quarterly -- installments to a person designated in writing by the group contractholder as the successor insurer of the Plan or to the group contractholder. [LOGO OF SECURITY FIRST LIFE INSURANCE COMPANY]
Sample 1

Related to Installment Settlement of Guaranteed Contract Values

  • ADDITIONAL PAYMENT OBLIGATIONS 15. Tax gross-up and indemnities

  • Deposit of Repayment Price On or prior to any Optional Repayment Date, the Company shall deposit with the Trustee an amount of money sufficient to pay the optional repayment price, and accrued interest thereon to such date, of all the Book-Entry Notes or portions thereof which are to be repaid on such date. The Trustee will use such money to repay such Book-Entry Notes pursuant to the terms set forth in such Notes. Procedure for Rate Setting and Posting: The Company and the Agent will discuss from time to time the aggregate principal amount of, the issuance price of, and the interest rates to be borne by, Book-Entry Notes that may be sold as a result of the solicitation of orders by the Agent. If the Company decides to set prices of, and rates borne by, any Book-Entry Notes in respect of which the Agent is to solicit orders (the setting of such prices and rates to be referred to herein as “posting”) or if the Company decides to change prices or rates previously posted by it, it will promptly advise the Agent of the prices and rates to be posted. Acceptance and Rejection of Orders: Unless otherwise instructed by the Company, the Agents will advise the Company promptly by telephone or other means of electronic communication of all orders to purchase Book-Entry Notes received by the Agents, other than those rejected by it in whole or in part in the reasonable exercise of its discretion. Unless otherwise agreed by the Company and any Agent, the Company has the right to accept orders to purchase Book-Entry Notes and may reject any such orders in whole or in part. Preparation of Pricing Supplement: If any order to purchase a Book-Entry Note is accepted by or on behalf of the Company, the Company will prepare a final pricing supplement or prospectus supplement (a “Final Supplement”) reflecting the terms of such Book-Entry Note, will file such Final Supplement with the Commission in accordance with the applicable paragraph of Rule 424(b) under the Securities Act, will deliver such number of copies thereof to the Agent as the Agent shall request. If required, the Agent will file such Final Supplement with the Financial Industry Regulatory Authority, Inc. (“FINRA”) and cause a Final Prospectus, including such Final Supplement, to be delivered to the purchaser of such Book-Entry Note or otherwise will comply with the requirements of Rule 173(a) under the Securities Act. In each instance that a Final Supplement is prepared, the Agents will affix or attach the Final Supplement to the MTN Prospectus and other applicable Supplement(s) prior to their use. Outdated Final Supplements, MTN Prospectus and any other applicable Supplement(s) to which they are attached (other than those retained for files) will be destroyed. If requested, hard copies of the appropriate number of Final Prospectuses, including the Final Supplement, shall be delivered to the Agent at the addresses designated by such Agent on the Business Day following the acceptance of an offer by or on behalf of the Company.

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Benefits of Guaranty This Guaranty is entered into for the sole protection and benefit of the Administrative Agent and each other Guaranteed Party and their respective successors and assigns, and no other Person (other than any Indemnitee specified herein) shall be a direct or indirect beneficiary of, or shall have any direct or indirect cause of action or claim in connection with, this Guaranty. The Guaranteed Parties, by their acceptance of this Guaranty, shall not have any obligations under this Guaranty to any Person other than the Guarantor, and such obligations shall be limited to those expressly stated herein.

  • Acceleration of Guaranty Each Guarantor agrees that, in the event of the occurrence of any event of the type described in Section 8.01(f) of the Credit Agreement, with respect to the Borrowers, any other Obligor or any other Guarantor, and if such event shall occur at a time when any of the Obligations may not then be due and payable, such Guarantor will pay to the Lenders forthwith the full amount which would be payable hereunder by such Guarantor if all such Obligations were then due and payable.

  • Collections Payment Processing Remittance (a) Collection Efforts, Policies, Procedures.

  • Reinstatement of Guaranty This Guaranty Agreement shall continue to be effective, or be reinstated, as the case may be, if and to the extent at any time payment, in whole or in part, of any of the sums due to any holder on account of the Guaranteed Obligations is rescinded or must otherwise be restored or returned by a holder upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company or any other guarantors, or upon or as a result of the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to the Company or any other guarantors or any part of its or their property, or otherwise, all as though such payments had not been made.

  • Payment Processing; Allocation; Priority of Payments (i) The Servicer shall post all payments received to Customer accounts as promptly as practicable, and, in any event, substantially all payments shall be posted no later than three (3) Business Days after receipt.

  • Reinstatement of Guarantied Obligations If claim is ever made on the Administrative Agent or any other Guarantied Party for repayment or recovery of any amount or amounts received in payment or on account of any of the Guarantied Obligations, and the Administrative Agent or such other Guarantied Party repays all or part of said amount by reason of (a) any judgment, decree or order of any court or administrative body of competent jurisdiction, or (b) any settlement or compromise of any such claim effected by the Administrative Agent or such other Guarantied Party with any such claimant (including the Borrower or a trustee in bankruptcy for the Borrower), then and in such event each Guarantor agrees that any such judgment, decree, order, settlement or compromise shall be binding on it, notwithstanding any revocation hereof or the cancellation of the Credit Agreement, any of the other Loan Documents, or any other instrument evidencing any liability of the Borrower, and such Guarantor shall be and remain liable to the Administrative Agent or such other Guarantied Party for the amounts so repaid or recovered to the same extent as if such amount had never originally been paid to the Administrative Agent or such other Guarantied Party.

  • Collection Practices; Escrow Deposits; Interest Rate Adjustments The origination, servicing and collection practices used by the Seller and the Interim Servicer with respect to the Mortgage Loan have been in all respects in compliance with Accepted Servicing Practices, applicable laws and regulations, and have been in all respects legal and proper. With respect to escrow deposits and Escrow Payments, all such payments are in the possession of, or under the control of, the Seller or the Interim Servicer and there exist no deficiencies in connection therewith for which customary arrangements for repayment thereof have not been made. All Escrow Payments have been collected in full compliance with state and federal law and the provisions of the related Mortgage Note and Mortgage. An escrow of funds is not prohibited by applicable law and has been established in an amount sufficient to pay for every item that remains unpaid and has been assessed but is not yet due and payable. No escrow deposits or Escrow Payments or other charges or payments due the Seller have been capitalized under the Mortgage or the Mortgage Note. All Mortgage Interest Rate adjustments have been made in strict compliance with state and federal law and the terms of the related Mortgage and Mortgage Note on the related Interest Rate Adjustment Date. If, pursuant to the terms of the Mortgage Note, another index was selected for determining the Mortgage Interest Rate, the same index was used with respect to each Mortgage Note which required a new index to be selected, and such selection did not conflict with the terms of the related Mortgage Note. The Seller or the Interim Servicer executed and delivered any and all notices required under applicable law and the terms of the related Mortgage Note and Mortgage regarding the Mortgage Interest Rate and the Monthly Payment adjustments. Any interest required to be paid pursuant to state, federal and local law has been properly paid and credited;

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