Common use of Payout Upon Rejection of Declared Guaranteed Rate Clause in Contracts

Payout Upon Rejection of Declared Guaranteed Rate. If you reject the Guaranteed Rate for an Interest Pocket we announce under Section 3.3, the aggregate Withdrawal Value of that Interest Pocket is paid to you in 6 equal annual installments. The initial installment is calculated on the date you reject the declared rate and is paid within 7 days from that date. Subsequent installments are paid on the anniversary of the first installment payment date. During the installment payment period, interest is credited to amounts in the terminating pocket at a rate equal to the current average Guaranteed Rate (as determined on the first installment payment date) of all your Interest Pockets, less 1%. The minimum rate guarantee provided in Section 3.4 applies to the interest credited under this Section. Interest is paid with each installment.

Payout Upon Rejection of Declared Guaranteed Rate. If you reject the Contractholder rejects the Guaranteed Rate for an Interest Pocket we announce under Section 3.3, the aggregate Withdrawal Value of that Interest Pocket is paid to you the Contractholder in 6 equal annual installments. The initial installment is calculated on the date you reject the Contractholder rejects the declared rate and is paid within 7 days from that date. Subsequent installments are paid on the anniversary of the first installment payment date. During the installment payment period, interest is credited to amounts in the terminating pocket at a rate equal to the current average Guaranteed Rate (as determined on the first installment payment date) of all your the Contractholder's Interest Pockets, less 1%. The minimum rate guarantee provided in Section 3.4 applies to the interest credited under this Section. Interest is paid with each installment.

Payout Upon Rejection of Declared Guaranteed Rate. If you reject the Contractholder rejects the Guaranteed Rate for an Interest Pocket we announce under Section 3.3, the aggregate Withdrawal Value of that Interest Pocket is paid to you the Contractholder in 6 equal annual installments. The initial installment is calculated on the date you reject the Contractholder rejects the declared rate and is paid within 7 days from that date. Subsequent installments are paid on the anniversary of the first installment payment date. During the installment payment period, interest is credited to amounts in the terminating pocket at a rate equal to the current average Guaranteed Rate (as determined on the first installment payment date) of all your the Contractholder's Interest Pockets, less 1%. The minimum rate guarantee provided in Section 3.4 applies to the interest credited under this Section. Interest is paid with each installment.. P-GB-C-ERTDAMFVA.7