Common use of Periodic Payouts Clause in Contracts

Periodic Payouts. On the 15th of each March, June, September and December, GLAIC will pay the Policyholder all accrued and unpaid interest (if such date is not a Business Day, the Periodic Payout will be made on the next following Business Day, unless such day is in the following calendar month in which case the immediately preceding Business Day) (each, an “Interest Payment Date”); provided, however, that the final Periodic Payout shall be on the Maturity Date, on which date all accrued and unpaid interest will be paid.

Periodic Payouts. On the 15th 8th of each March, June, September April and DecemberOctober, GLAIC will pay the Policyholder all accrued and unpaid interest (if such date is not a Business Day, the Periodic Payout will be made on the next following Business Day, unless and in such day is in cases the following calendar month in which case the immediately preceding amount of interest shall not be adjusted for non-Business DayDays) (each, an “Interest Payment Date”); provided, however, that the final Periodic Payout shall be on the Maturity Date, on which date all accrued and unpaid interest will be paid.

Periodic Payouts. On Beginning on November 15, 2006 and continuing on the 15th day of each March, June, September and Decembermonth thereafter, GLAIC will pay the Policyholder all accrued and unpaid interest (if such date is not a Business Day, the Periodic Payout will be made on the next following Business Day, unless such day is in the following calendar month in which case the immediately preceding Business Day) (each, an “Interest Payment Date”); provided, however, that the final Periodic Payout shall be on the Maturity Date, on which date all accrued and unpaid interest will be paid.

Periodic Payouts. On the 15th of each MarchJanuary, JuneApril, September July and DecemberOctober, GLAIC will pay the Policyholder all accrued and unpaid interest (if such date is not a Business Day, the Periodic Payout will be made on the next following Business Day, unless such day is in the following calendar month in which case the immediately preceding Business Day) (each, an “Interest Payment Date”); provided, however, that the final Periodic Payout shall be on the Maturity Date, on which date all accrued and unpaid interest will be paid.