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:
Sample 1Sample 2Sample 3See All (14)
AutoNDA by SimpleDocs
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. 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 Accumulation Units ...
Sample 1Sample 2See All (6)

Related to METHOD OF DEDUCTING MORTALITY AND EXPENSE RISK AND RIDER CHARGES

  • Uncontrollable Forces Tariff Provisions Section 14.1 of the CAISO Tariff shall be incorporated by reference into this Agreement except that all references in Section 14.1 of the CAISO Tariff to Market Participants shall be read as a reference to the Participating Generator and references to the CAISO Tariff shall be read as references to this Agreement.

  • RIGHT OF ALLOTTEE TO USE COMMON AREAS AND FACILITIES SUBJECT TO PAYMENT OF TOTAL MAINTENANCE CHARGES The Allottee hereby agrees to purchase the [Apartment/Plot] on the specific understanding that is/her right to the use of Common Areas shall be subject to timely payment of total maintenance charges, as determined and thereafter billed by the maintenance agency appointed or the association of allottees (or the maintenance agency appointed by it) and performance by the Allottee of all his/her obligations in respect of the terms and conditions specified by the maintenance agency or the association of allottees from time to time.

  • ADDITIONAL SPECIAL CONTRACT CONDITIONS Special Contract Conditions revisions: the corresponding subsections of the Special Contract Conditions referenced below are replaced in their entirety with the following:

  • PRICE ESCALATION/DE-ESCALATION (CPI) The County may allow a price escalation provision within this award. The original contract prices shall be firm for an initial one (1) year period. A price escalation/de-escalation will be considered at one (1) year intervals thereafter, provided the Contractor notifies the County, in writing, of the pending price escalation/de-escalation a minimum of sixty (60) days prior to the effective date. Price adjustments shall be based on the latest version of the Consumers Price Index (CPI-U) for All Urban Consumers, All Items, U.S. City Average, non-seasonal, as published by the U.S. Department of Labor, Bureau of Labor Statistics. This information is available at xxx.xxx.xxx. Price adjustment shall be calculated by applying the simple percentage model to the CPI data. This method is defined as subtracting the base period index value (at the time of initial award) from the index value at time of calculation (latest version of the CPI published as of the date of request for price adjustment), divided by the base period index value to identify percentage of change, then multiplying the percentage of change by 100 to identify the percentage change. Formula is as follows: Current Index – Base Index / Base Index = % of Change CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% % of Change x 100 = Percentage Change CPI-U Calculation Example: A price increase may be requested only at each time interval specified above, using the methodology outlined in this section. To request a price increase, Contractor shall submit a letter stating the percentage amount of the requested increase and adjusted price to the Orange County Procurement Division. The letter shall include the complete calculation utilizing the formula above, and a copy of the CPI-U index table used in the calculation. The maximum allowable increase shall not exceed 4%, unless authorized by the Manager, Procurement Division. All price adjustments must be accepted by the Manager, Procurement Division and shall be memorialized by written amendment to this contract. No retroactive contract price adjustments will be allowed. Should the CPI-U for All Urban Consumers, All Items, U.S City Average, as published by the U.S. Department of Labor, Bureau of Labor Statistics decrease during the term of the contract, or any renewals, the Contractor shall notify the Orange County Procurement Division of price decreases in the method outlined above. If approved, the price adjustment shall become effective on the contract renewal date. If the Contractor fails to pass the decrease on to the County, the County reserves the right to place the Contractor in default, cancel the award, and remove the Contractor from the County Vendor List for a period of time deemed suitable by the County. In the event of this occurrence, the County further reserves the right to utilize any options as stated herein.

  • Weighing and Scaling Costs Purchaser agrees to pay for all weighing costs for logs delivered regardless if logs are purchased on a weight or scale basis. In addition, Purchaser agrees to pay for all scaling costs for logs delivered on a scale basis. Purchaser also agrees to pay for all costs associated with the transmission and reporting of scale or weight data.

  • Early and Safe Return to Work The Hospital and the Union are committed to a consistent, fair approach to meeting the needs of disabled workers, to restoring them to work which is meaningful for them and valuable to the Hospital, and to meeting the parties’ responsibilities under the law. To that end, the Hospital and the Union agree to cooperate in facilitating the return to work of disabled employees. The Employer and the Union agree that ongoing and timely communication by all participants in this process is essential to the success of the process. (a) At the regular HAC meeting or at least bi-monthly the Employer will provide an updated list of information to the bargaining unit president including the following: i) Nurses absent from work because of disability who are in receipt of Workplace Safety and Insurance Board benefits; ii) Nurses absent from work because of disability who are in receipt of Long Term Disability benefits including the last day worked; iii) Nurses who have been absent from work because of disability for more than twenty-four (24) months; iv) Nurses who are currently on a temporary modified work program; v) Nurses who are currently permanently accommodated in the workplace; vi) Nurses awaiting temporary modified work; vii) Nurses awaiting permanent accommodation in the workplace. (b) A disabled nurse returning to work from a disability including WSIB to a modified/light/alternative work program, will have a joint Return to Work Team (RTW) attend a return to work meeting. The RTW team will be comprised of the Bargaining Unit President or designate, the Occupational Health representative, the manager and Human Resources. If the Bargaining Unit President or designate attends RTW meetings on her day off, she / he will receive pay at straight time or time in lieu where possible for hours spent in RTW meetings. Such hours are invisible for the purposes of determining premium. L-2 The nurse will advise her manager and Occupational Health Services that she wishes to return to work. A disabled nurse who is ready to return to work will provide the Occupational Health Service with medical verification of her ability to return to work including information regarding any restrictions.

  • CONTRACT CONSEQUENCES In the case of a state contractor, contributions made or solicited in violation of the above prohibitions may result in the contract being voided. In the case of a prospective state contractor, contributions made or solicited in violation of the above prohibitions shall result in the contract described in the state contract solicitation not being awarded to the prospective state contractor, unless the State Elections Enforcement Commission determines that mitigating circumstances exist concerning such violation. The State shall not award any other state contract to anyone found in violation of the above prohibitions for a period of one year after the election for which such contribution is made or solicited, unless the State Elections Enforcement Commission determines that mitigating circumstances exist concerning such violation. Additional information may be found on the website of the State Elections Enforcement Commission, xxx.xx.xxx/xxxx. Click on the link to “Lobbyist/Contractor Limitations.”

  • Isolation Allowance ‌ Employees in the following Communities shall receive an Isolation Allowance of $74.00 per month. Alert Bay Xxxxx Lake Chetwynd Xxxxxx Creek Xxxxx Lake Fort Xxxxxx Fort St. Xxxxx Fort St. Xxxx Xxxxxx Lake Gold River Hazelton Houston Hudson Hope Kitimat XxXxxxx Xxxxxxxxx Nakusp New Denver Port Xxxxx Port Hardy Port XxXxxxx Pouce Coupe Prince Xxxxxx Xxxxx Charlotte Islands Xxxxxxxx Xxxxxxx Tahsis Terrace Tofino Tumbler Ridge Valemount Vanderhoof Waglisla

  • PREVAILING WAGE RATES - PUBLIC WORKS AND BUILDING SERVICES CONTRACTS If any portion of work being Bid is subject to the prevailing wage rate provisions of the Labor Law, the following shall apply:

  • Transportation Allowance When an employee is required to travel to the Hospital or to return to her home as a result of reporting to or off work between the hours of hours, (other than reporting to or off work for her regular shift) or at any time while on standby, the Hospital will pay transportation costs either by taxi or by her own vehicle at the rate of thirty-five cents ($0.35) per mile (to a maximum of fourteen dollars ($14.00)) or such greater amount as the Hospital may in its discretion determine for each trip between the aforementioned hours. The employee will provide to the Hospital satisfactory proof of payment of such taxi fare.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!