METHOD OF DEDUCTING MORTALITY AND EXPENSE RISK AND RIDER CHARGES Sample Clauses

METHOD OF DEDUCTING MORTALITY AND EXPENSE RISK AND RIDER CHARGES. The Minimum Charge for mortality and expense risk as shown on the Contract Data page will be computed and deducted from each Subaccount on each Valuation Date. The Minimum Charge is factored into the Accumulation Unit Values on each Valuation Date. Any charge for mortality and expense risk or Riders above the Minimum Charge ("Excess Charge") will be deducted from monthly dividends paid by, and reinvested in, the respective Subaccounts. Dividends are declared by SBL and paid monthly by the Subaccounts for the purpose of deducting any applicable Excess Charge. The amount of the Excess Charge is determined by adding:
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METHOD OF DEDUCTING MORTALITY AND EXPENSE RISK AND RIDER CHARGES. The Minimum Charge for mortality and expense risk as shown on the Contract Data page will be computed and deducted from each Subaccount on each Valuation Date. The Minimum Charge is factored into the Accumulation Unit Values on each Valuation Date. Any charge for mortality and expense risk or Riders above the Minimum Charge ("Excess Charge") will be deducted from monthly dividends paid by, and reinvested in, the respective Subaccounts. Dividends are declared by SBL and paid monthly by the Subaccounts for the purpose of deducting any applicable Excess Charge. The amount of the Excess Charge is determined by adding: the total charge for all Riders selected by the Owner; and the applicable mortality and expense risk charge; and subtracting the Minimum Charge. The applicable mortality and expense risk charge, which is based upon the amount of Contract Value as of the date the charge is deducted, is shown on the Contract Data page. The Excess Charge is a percentage on an annual basis of Contract Value allocated to each Subaccount as of the Payable Date. SBL will declare a dividend for each Subaccount on one Valuation Date of each calendar month ("Record Date"). SBL will pay the dividend on a subsequent Valuation Date ("Payable Date") within five Valuation Dates of the Record Date. Such dividend will be declared as a dollar amount per Accumulation Unit. For each Subaccount, any Owner as of the Record Date will receive on the Payable Date a net dividend equal to: the amount of dividend per Accumulation Unit; times the number of Accumulation Units allocated to the Subaccount as of the Record Date; less the amount of the Excess Charge for that Subaccount; provided that SBL will not deduct any Excess Charge from the first dividend following the Contract Date. The net dividend will be reinvested on the Payable Date at the Accumulation Unit Value determined as of the close of the Payable Date in Accumulation Units of the Subaccount. SBL reserves the right to compute and deduct the Excess Charge from each Subaccount on each Valuation Date in lieu of the method discussed above, in which event the charge would be factored into the Accumulation Unit Values on each Valuation Date. Example Assuming Contract Value of $50,000 allocated to the Equity Subaccount and no Riders, the Excess Charge would be computed as follows: Mortality and Expense Risk Charge; plus 0.70% Riders; less +N/A Minimum Charge -0.60% Excess Charge on Annual Basis 0.10% Further assuming 5,000 Accumulatio...
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Related to METHOD OF DEDUCTING MORTALITY AND EXPENSE RISK AND RIDER CHARGES

  • Closing Fees, Expenses, etc The Administrative Agent shall have received for its own account, or for the account of each Lender, as the case may be, all fees, costs and expenses due and payable pursuant to Sections 3.3 and 10.3, if then invoiced.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Payment at Closing; Fee Letters The Borrower shall have paid to the Administrative Agent and the Lenders the fees set forth or referenced in Section 4.3 and any other accrued and unpaid fees or commissions due hereunder (including, without limitation, legal (including, without limitation, local counsel) fees and expenses) and to any other Person such amount as may be due thereto in connection with the transactions contemplated hereby, including all taxes, fees and other charges in connection with the execution, delivery, recording, filing and registration of any of the Loan Documents.

  • Initial Contribution of Trust Property; Fees, Costs and Expenses The Property Trustee acknowledges receipt from the Depositor in connection with the Original Trust Agreement of the sum of ten dollars ($10), which constituted the initial Trust Property. The Depositor shall pay all fees, costs and expenses of the Trust (except with respect to the Trust Securities) as they arise or shall, upon request of any Trustee, promptly reimburse such Trustee for any such fees, costs and expenses paid by such Trustee. The Depositor shall make no claim upon the Trust Property for the payment of such fees, costs or expenses.

  • Treatment of Tax Indemnity and Tax Benefit Payments In the absence of any change in Tax treatment under the Code or other applicable Tax Law,

  • Payment of Sales, Use or Similar Taxes All sales, use, transfer, intangible, recordation, documentary stamp or similar Taxes or charges, of any nature whatsoever, applicable to, or resulting from, the transactions contemplated by this Agreement shall be borne by the Sellers.

  • Expense Allowance The Company shall reimburse the Executive for all reasonable and necessary expenses incurred by him from time to time in the performance of his duties hereunder, against receipts therefor in accordance with the then effective policies and requirements of the Company.

  • Additional Reserve Costs (a) If and so long as any Lender is required after the date hereof to make special deposits with the Bank of England, to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender’s Eurocurrency Loans in any Designated Foreign Currency, such Lender may require the relevant Borrower to pay, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate calculated in accordance with the formula and in the manner set forth in Exhibit C hereto.

  • Exclusions from Operating Expenses Operating Expenses exclude the following expenditures:

  • Fronting Fee and Documentary and Processing Charges Payable to L/C Issuers The Borrower shall pay directly to each L/C Issuer for its own account a fronting fee (a “Fronting Fee”) with respect to each Letter of Credit issued by it, at the rate per annum equal to 0.125% computed on the daily maximum amount then available to be drawn under such Letter of Credit. Such fronting fees shall be computed on a quarterly basis in arrears. Such fronting fees shall be due and payable on the tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.07. In addition, the Borrower shall pay directly to each L/C Issuer for its own account the customary issuance, presentation, amendment and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable within ten Business Days of demand and are nonrefundable.

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