Participating Contract Sample Clauses

Participating Contract. This is a participating contract. Each year the Company shall determine the amount of divisible surplus, if any, to be apportioned to this Contract. The amount of any such divisible surplus shall be credited to this Contract as dividends, provided this Contract is in force on the date such dividends are to be paid.
Sample 1Sample 2Sample 3See All (10)
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Participating Contract. This contract may participate in our divisible surplus. Divisible surplus, if any, to be apportioned to this contract shall be apportioned annually and will be allocated by us equitably among all Participants. Divisible surplus so allocated will be credited as Purchase Payments to the Participants' Variable and Fixed Accounts, unless the Participant elects to have it paid in cash. No divisible surplus is expected to be apportioned to this contract in the foreseeable future.
Sample 1See All (4)
Participating Contract. The contract may participate in divisible surplus of Penn Mutual. Divisible surplus, if any, to be apportioned to the contract shall be apportioned annually and shall be paid in cash or credited to the Contract Value at the end of the contract year. No divisible surplus is expected to be apportioned to this contract in the foreseeable future.
Sample 1Sample 2
Participating Contract. The Contract may participate in divisible surplus of The Company. Divisible surplus, if any, to be apportioned to the Contract shall be ascertained and apportioned annually and shall be paid in cash or credited to the Contract Value at the end of the contract year. If no election has been made by the Contract Owner, the divisible surplus will be credited to the Contract Value. No divisible surplus is expected to be apportioned to this Contract in the foreseeable future.
Sample 1
Participating Contract. This is a participating contract. Each year the Company shall determine the amount of divisible surplus, if any, to be apportioned to this Contract. The amount of any such divisible surplus shall be credited to this Contract as dividends, provided this Contract is in force on the date such dividends are to be paid. DIVIDENDS Dividends may be paid out in cash or may be applied to increase the Account Value. If not otherwise elected, dividends shall be allocated to the accounts in the manner most recently elected by the Owner for contributions. Any dividend apportioned but not yet paid upon the death of the Annuitant shall be paid in the same manner as other benefits payable under this Contract. No dividends are anticipated under this Contract. TERMINATION OF CONTRACT At any time that the Account Value under this Contract is zero, this Contract shall terminate. Upon termination of this Contract, the Company shall be relieved of all further liability except with respect to any benefits that had commenced under this Contract on or before the date of termination. At the Annuity Commencement Date, the Company reserves the right to pay the Annuitant a single sum payment in lieu of any annuity benefits, provided any annuity payable to the Annuitant under this Contract would be less than [$50] each month. The single sum payment shall be of an amount that is equal to the Account Value as of the Valid Transaction Date of the payment. If at any time, no contributions have been received under this Contract for three years and the Account Value is less than $2,000, the Company reserves the right to terminate this Contract and pay the Owner the Account Value in a single payment.
Sample 1
Participating Contract. The Company does not expect that any dividends will be payable on this Contract. The Company determines the divisible surplus annually, however, and if it determines the payment of dividends for the Contract is appropriate, the Contract may share in any distribution of the divisible surplus. The Company will determine how much, if any, of the divisible surplus is to be allocated to this Contract based on its contribution to the divisible surplus. If dividends are payable under this Contract, the Company will automatically pay dividends in cash to the Contract Owner at the last known address shown on our records.
Sample 1
Participating Contract. The contract may participate in our divisible surplus. Divisible surplus, if any. to be apportioned to the contract shall be apportioned annually and shall be credited to your Contract Value at the end of the contract year. Dividends will not be paid in cash. No divisible surplus is expected to be apportioned to this contract in the foreseeable future. Any refund of Purchase Payments (other than those attributable to excess contributions) will be applied before the close of the calendar year following the year of the refund toward payment of future premiums or the purchase of additional benefits.
Sample 1
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Related to Participating Contract

  • Participant Undertaking The Participant agrees to take whatever additional action and execute whatever additional documents the Company may deem necessary or advisable to carry out or effect one or more of the obligations or restrictions imposed on either the Participant or the Restricted Stock Units pursuant to this Agreement.

  • AWARD NOT A SERVICE CONTRACT Your Award is not an employment or service contract, and nothing in your Award shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or on the part of the Company or an Affiliate to continue your employment. In addition, nothing in your Award shall obligate the Company or an Affiliate, their respective shareholders, boards of directors, Officers or Employees to continue any relationship that you might have as a Director or Consultant for the Company or an Affiliate.

  • Contract Contract" shall mean any written, oral or other agreement, contract, subcontract, lease, understanding, instrument, note, warranty, insurance policy, benefit plan or legally binding commitment or undertaking of any nature.

  • Prime Contract This Subcontract is made in order to assist the Investment Manager in fulfilling certain of the Investment Manager’s obligations under each investment management and investment advisory agreement (“IM Agreement”) between the Investment Manager and each Trust listed on Exhibit A hereto (the “Trust”), for itself or on behalf of each of its series listed on Exhibit A (each, a “Fund”).

  • Sub-Contracting JHSS may subcontract for the performance hereof, provided, however, that (a) upon engagement of any such subcontractor, and at least annually thereafter, JHSS discloses to the Board the financial terms of such subcontract and a summary of the services provided to the Fund pursuant to such subcontract, and (b) JHSS shall be as fully responsible to the Fund for any acts or omissions of any such subcontractor as JHSS is for its own acts and omissions.

  • OPTION NOT A SERVICE CONTRACT Your option is not an employment or service contract, and nothing in your option shall be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate the Company or an Affiliate, their respective stockholders, Boards of Directors, Officers or Employees to continue any relationship that you might have as a Director or Consultant for the Company or an Affiliate.

  • Plan Document Controls The rights granted under this Agreement are in all respects subject to the provisions set forth in the Plan to the same extent and with the same effect as if set forth fully in this Agreement. If the terms of this Agreement conflict with the terms of the Plan document, the Plan document will control.

  • Separate Agreement The parties hereto acknowledge that certain provisions of the Investment Company Act, in effect, treat each series of shares of an investment company as a separate investment company. Accordingly, the parties hereto hereby acknowledge and agree that, to the extent deemed appropriate and consistent with the Investment Company Act, this Agreement shall be deemed to constitute a separate agreement between the Investment Manager and each Fund.

  • ASSIGNMENT AND SUB-CONTRACTING 10.01 Except as provided in Section 10.03 below, neither this Agreement nor any rights or obligations hereunder may be assigned by either party without the written consent of the other party.

  • Independent Contractor Benefits It is the express intention of the Company and Consultant that Consultant performs the Services as an independent contractor. Nothing in this Agreement shall in any way be construed to constitute Consultant as an employee or entitling Consultant to any of benefits otherwise provided to employees of the Company. Consultant acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant pursuant to this Agreement. Consultant agrees to and acknowledges the obligation to pay all self-employment and other taxes on such income.

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