Postponement of Payments. Notwithstanding any provision herein to the contrary, the date for payment of any interest or principal on the Notes may be postponed in accordance with the provisions of Section 8.03 below, with interest continuing to accrue at its regular rate.
Postponement of Payments. We may not be able to obtain the value of the assets of the investment options of our Separate Account if: (1) the NYSE is closed; (2) the SEC requires trading to be restricted or declares an emergency; or (3) the SEC by order permits us to defer payments for the protection of our policy owners. During such times, as to amounts allocated to the investment options of our Separate Account, we may defer: - determination and payment of surrenders or withdrawals of the net cash surrender value; - payment of loans; - determination of the Accumulation Unit values of the investment options; - any requested transfers among investment options; and We may defer payment of any loan, surrender or withdrawal. We retain the right to postpone payments for a period of up to six months after receiving the request.
Postponement of Payments. We will usually pay any Income Payment within seven days of the Due Date. We will usually pay any death benefit due within seven days after we receive Proof of Death. We may defer these payments when: - The New York Stock Exchange is closed other than customary weekend and holiday closings; or - The Securities and Exchange Commission restricts trading on the New York Stock Exchange; or - The Securities and Exchange Commission permits postponement for the protection of Contract Owners; or - The Securities and Exchange Commission determines an emergency exists. We have the right to defer any payment that is derived from any amount recently paid to us by check or draft. We will make payment when we are satisfied the check or draft has been paid by the bank upon which it is drawn. In addition, we reserve the right to defer any payments from our General Account for up to six months from the Fixed Income Payment Due Date.
Postponement of Payments. We may not be able to obtain the value of the assets of the Portfolios of our Separate Account if: (1) the NYSE is closed; (2) the SEC requires trading to be restricted or declares an emergency; or (3) the SEC by order permits us to defer payments for the protection of our policy owners. During such times, as to amounts allocated to the Portfolios of our Separate Account, we may defer: · determination and payment of surrenders or withdrawals of the net cash surrender value; · payment of loans; · determination of the Accumulation Unit values of the Portfolios; · any requested transfers among Portfolios. We may defer payment of any loan, surrender or withdrawal. We retain the right to postpone payments for a period of up to six months after receiving the request.
Postponement of Payments. 7 SECTION 3. PREMIUM PAYMENTS...................................................7
Postponement of Payments. We will usually pay any amounts payable from the Separate Account as a result of a full or a partial withdrawal within seven (7) days after we receive your written request in our Home Office in a form satisfactory to us. We can postpone such payments or any transfers of amounts between Subaccounts or into the Fixed Account if:
Postponement of Payments. We may not be able to determine the value of assets of the Accounts if: (1) the New York Stock Exchange is closed; (2)
Postponement of Payments. The Company reserves the right to defer the withdrawal and the payment or transfer, as the case may be, of any amount to be withdrawn from the Interest Accumulation Account for a period of not more than six months following the Participant’s request for such payment or transfer. The Company shall pay any amount withdrawn from the Stock Account, the Money Market Account, the Bond Account or the Composite Account, and shall transfer any amount withdrawn from any such Account, within seven days after the date of withdrawal. The Company reserves the right, however, to defer such payment or transfer beyond seven days if:
Postponement of Payments. We will make payment within seven days from the date of withdrawal or surrender. We will make payment within seven days from the date of approval of a lump sum claim settlement. We may be permitted to defer such payment under the Investment Company Act of 1940, if: o the NYSE is closed other than customary weekend and holiday closings; or o the SEC restricts trading on the NYSE; or o the SEC permits postponement for the protection of Contract Owners; or o the SEC determines an emergency exists. Due to the emergency, disposal of securities or the determination of the values of net assets of the Separate Account is not reasonably practical. We will defer any payment which is derived from a check or draft recently paid to us. We will make payment when the check or draft has been paid by the financial institution on which it is drawn.
Postponement of Payments. We will make payment within 7 days from the date of receipt of a request in good order for a withdrawal or surrender. We will make payment within 7 days from the receipt of due proof of death for a lump sum claim settlement. We may postpone these payments when: • the New York Stock Exchange is closed other than customary weekend and holiday closings; or • the SEC restricts trading on the New York Stock Exchange; or • the SEC permits postponement for the protection of Contract Owners; or • the SEC determines an emergency exists. Due to the emergency, disposal of securities or the determination of the values of net assets of the Variable Account is not reasonably practical. We reserve the right to defer payment of any withdrawal or surrender from the Guarantee Account for up to 6 months. We will not defer payment if we are required by law to pay earlier. We will not defer payment if the amount is used to pay Purchase Payments on contracts with us. NY1162 3/01 We have the right to defer payment which is derived from any amount recently paid to us by check or draft. We will make payment when we are satisfied the check or draft has been paid by the bank on which it is drawn. GUARANTEE ACCOUNT Amounts in the Guarantee Account earn interest at the minimum rate shown on the Contract data pages. The current guaranteed rate shown on the Contract data page will remain in effect for one year. Thereafter we will declare a new annual interest rate. You may make withdrawals from the Guarantee Account as described in this Contract. Any amount remaining in the Guarantee Account on the Annuity Commencement Date will be transferred to the Subaccount as of that date. Amounts in the Guarantee Account are held in, and are part of, our General Account. The General Account consists of our assets other than those allocated to our separate accounts. Subject to statutory authority, we have sole discretion over the investment of the assets of the General Account. Those assets may be chargeable with liabilities arising out of any business we may conduct. Any Surrender Value or Death Benefit available under the Guarantee Account will not be less than required by the laws of New York. The Variable Account supports the operation of this Contract and certain other variable annuity contracts we may offer. We will not allocate assets to the Variable Account to support the operation of any contracts that are not variable annuities. We own the assets in the Variable Account. These assets are ...
