Payout Phase Sample Clauses

Payout Phase. The payout phase begins as of the Annuity Date. The Certificate Owner(s) will authorize transfer of the Account Value to us as of the Annuity Date and we will begin making income payments. We will continue to make payments to the Certificate Owner(s) while any Participant is living. There are two income provisions: Guaranteed Income and Base Income. Only one income provision may be elected per Certificate. Guaranteed Income payments start if the Account Value falls below the minimum Account Value as shown on the Data Pages or the Withdrawal Guarantee, or if the younger of the Participant or any Joint Participant reaches the maximum annuity age shown on the Data Pages. The Certificate Owner(s) has the right at any time prior to the Annuity Date to elect Base Income by transferring the Account Value to us. MP7170 5/07 VA 8
Sample 1See All (4)
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Payout Phase. Payout Phase Defined The "Payout Phase" is the second of the two phases during your Contract. During this phase the Contract Value adjusted by any Market Value Adjustment and less any applicable taxes is applied to the Income Plan you choose and is paid out as provided in that plan. The Payout Phase begins on the Payout Start Date. It continues until we make the last payment as provided by the Income Plan chosen. Payout Start Date The "Payout Start Date" is the date the Contract Value adjusted by any Market Value Adjustment and less any applicable taxes is applied to an Income Plan. The anticipated Payout Start Date is shown on the Annuity Data Page. You may change the Payout Start Date by writing to us at least 30 days prior to this date. The Payout Start Date must be at least 30 days after the Issue Date, and occur on or before the later of: o the Annuitant's 90th birthday; or o the 10th anniversary of the Contract's issue date. Income Plans An "Income Plan" is a series of payments on a scheduled basis to you or to another person designated by you. The Contract Value on the Payout Start Date adjusted by any Market Value Adjustment and less any applicable taxes, will be applied to your Income Plan choice from the following list:
Sample 1
Payout Phase. PAYOUT PHASE DEFINED The "Payout Phase" is the second of the two phases during your Contract. During this phase the Contract Value less any applicable taxes is applied to the Income Plan you choose and is paid out as provided in that plan. The Payout Phase begins on the Payout Start Date. It continues until we make the last payment as provided by the Income Plan chosen. PAYOUT START DATE The "Payout Start Date" is the date the Contract Value less any applicable taxes is applied to an Income Plan. The anticipated Payout Start Date is shown on the Annuity Data Page. You may change the Payout Start Date by writing to us at least 30 days prior to this date. The Payout Start Date must be on or before the later of:
Sample 1
Payout Phase. The period of this Contract that begins on the Payout Start Date and continues until the last Income Plan payment is made.
Sample 1
Payout Phase. Payout Phase The period of this Contract that begins on the Payout Start Date (unless the Contract is terminated before then) and continues until the last Income Plan payment is made. Payout Start Date The Payout Start Date is the date the Interim Value (if during the Investment Option Period), the Maturity Value (at expiration of the Investment Option Period), or Access Account Value (during the Access Account Period), less any applicable Taxes is applied to an Income Plan. LU10974 Page 14 (5/10) The Payout Start Date must be at least 13 months after the Issue Date, and occur on or before the Contract Maturity Date. Income Plan The Interim Value (if during the Investment Option Period), the Maturity Value (at expiration of the Investment Option Period), or Access Account Value (during the Access Account Period), less any applicable Taxes, will be applied to the Income Plan below. The monies applied to the Income Plan under this Contract will not be less than the minimum benefits required by any statute of the state in which the Contract is delivered.
Sample 1
Payout Phase. The “Payout Phase” is the second of the two phases of this Contract. The Payout Phase begins on the Payout Start Date. It continues until we make the last payment as provided by the Income Plan chosen. Payout Start Date The “Payout Start Date” is the date the Contract Value less any applicable taxes is applied to an Income Plan. The anticipated Payout Start Date is shown on the Annuity Data Page. You may change the Payout Start Date by writing to us at least 30 days before the new Payout Start Date. The Payout Start Date must be at least 30 days after the Issue Date, and occur on or before the later of: □ The Annuitant’s 90th birthday; or □ The 10th Contract Anniversary.
Sample 1
Payout Phase. The payout phase begins as of the Annuity Date. You will authorize transfer of the Account Value to us and we will begin making annuity payments. We will continue to make payments while any Participant is living. There are two annuity provisions. Guaranteed Income and Base Income. Only one provision may be elected. Guaranteed Income starts if the Account Value falls below the minimum Account Value as shown on the Data Pages or the Withdrawal Guarantee, or if the older of the Participant or any Joint Participant reaches the maximum annuity age shown on the Data Pages. You have the right at any time to elect a Base Income level by transferring the Account Value to us.
Sample 1
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Related to Payout Phase

  • Annual Performance Review The Employee’s performance of his duties under this Agreement shall be reviewed by the Board of Directors or a committee of the Board of Directors at least annually and finalized within thirty (30) days of the receipt of the annual audited financial statements. The Board of Directors or a committee of the Board of Directors shall additionally review the base salary, bonus and benefits provided to the Employee under this Agreement and may, in their discretion, adjust the same, as outlined in Addendum B of this Agreement, provided, however, that Employee’s annual base salary shall not be less than the base salary set forth in Section 4(A) hereof.

  • Contract Goals A. For purposes of this procurement, OGS conducted a comprehensive search and determined that the Contract does not offer sufficient opportunities to set goals for participation by MWBEs as subcontractors, service providers, or suppliers to Contractor. Contractor is, however, encouraged to make every good faith effort to promote and assist the participation of MWBEs on this Contract for the provision of services and materials. The directory of New York State Certified MWBEs can be viewed at: xxxxx://xx.xxxxxxxxxxxxxx.xxx/FrontEnd/VendorSearchPublic.asp?TN=ny&XID=2528. Additionally, following Contract execution, Contractor is encouraged to contact the Division of Minority and Women’s Business Development ((000) 000-0000; (000) 000-0000; or (000) 000-0000) to discuss additional methods of maximizing participation by MWBEs on the Contract. B. Good Faith Efforts Pursuant to 5 NYCRR § 142.8, evidence of good faith efforts shall include, but not be limited to, the following: 1. A list of the general circulation, trade, and MWBE-oriented publications and dates of publications in which the Contractor solicited the participation of certified MWBEs as subcontractors/suppliers, copies of such solicitations, and any responses thereto. 2. A list of the certified MWBEs appearing in the Empire State Development (“ESD”) MWBE directory that were solicited for this Contract. Provide proof of dates or copies of the solicitations and copies of the responses made by the certified MWBEs. Describe specific reasons that responding certified MWBEs were not selected. 3. Descriptions of the Contract documents/plans/specifications made available to certified MWBEs by the Contractor when soliciting their participation and steps taken to structure the scope of work for the purpose of subcontracting with, or obtaining supplies from, certified MWBEs. 4. A description of the negotiations between the Contractor and certified MWBEs for the purposes of complying with the MWBE goals of this Contract. 5. Dates of any pre-bid, pre-award, or other meetings attended by Contractor, if any, scheduled by OGS with certified MWBEs whom OGS determined were capable of fulfilling the MWBE goals set in the Contract. 6. Other information deemed relevant to the request.

  • Performance Measure Grantee will adhere to the performance measures requirements documented in

  • Ongoing Performance Measures The Department intends to use performance-reporting tools in order to measure the performance of Contractor(s). These tools will include the Contractor Performance Survey (Exhibit H), to be completed by Customers on a quarterly basis. Such measures will allow the Department to better track Vendor performance through the term of the Contract(s) and ensure that Contractor(s) consistently provide quality services to the State and its Customers. The Department reserves the right to modify the Contractor Performance Survey document and introduce additional performance-reporting tools as they are developed, including online tools (e.g. tools within MFMP or on the Department's website).

  • Performance Schedule The Parties will perform their respective responsibilities in accordance with the Performance Schedule. By executing this Agreement, Customer authorizes Motorola to proceed with contract performance.

  • Project Goals The schedule, budget, physical, technical and other objectives for the Project shall be defined.

  • Annual Performance Evaluation On either a fiscal year or calendar year basis, (consistently applied from year to year), the Bank shall conduct an annual evaluation of Executive’s performance. The annual performance evaluation proceedings shall be included in the minutes of the Board meeting that next follows such annual performance review.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Program Goals CalHFA MAC envisions that these monies would be used to complement other federal or lender programs designed specifically to stabilize communities by providing assistance to homeowners who have suffered a financial hardship and as a result are no longer financially able to afford their first-lien mortgage loan payments or their Property Expenses when associated with a Federal Housing Administration (“FHA”) Home Equity Conversion Mortgages (“HECM”) loan, only.

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