Common use of Postponement Clause in Contracts

Postponement. If the Company receives a Request for surrender or partial withdrawal, the Company may postpone any cash payment from the Annuity Account Value, for no more than 7 days. The Company may delay payment for: (a) any period during which the New York Stock Exchange is closed (other than customary weekend and holding closings) or trading on the New York Stock Exchange is restricted; (b) any period during which an emergency exists such that the disposal of or the determination of the value of shares of the Portfolios is not reasonably practicable; or (c) any other period as the Securities and Exchange Commission may by order permit for the protection of security holders.

Appears in 8 contracts

Samples: Annuity Contract (Variable Annuity-2 Series Account), Annuity Contract (Variable Annuity-2 Series Account), Annuity Contract (Variable Annuity-2 Series Account)

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Postponement. If the Company receives a Request for surrender or partial withdrawal, the Company may postpone any cash payment from the Annuity Account Value, Value for no more than 7 days. The Company may delay payment for: (a) any period during which the New York Stock Exchange is closed (other than customary weekend and holding holiday closings) or trading on the New York Stock Exchange is restricted; (b) any period during which an emergency exists such that the disposal of or the determination of the value of shares of the Portfolios is not reasonably practicable; or (c) any other period as the Securities and Exchange Commission may by order permit for the protection of security holders.

Appears in 4 contracts

Samples: Annuity Contract (Variable Annuity 1 Series Account), Annuity Contract (Variable Annuity 1 Series Account), Annuity Contract (Variable Annuity I Ser Acc of Fir GRT West Li & Annu Ins Co)

Postponement. If the Company receives a Request for surrender or partial withdrawal, the Company may postpone any cash payment from the Annuity Account Value, for no more than 7 days. The Company may delay payment for: (a) any period during which the New York Stock Exchange is closed (other than customary weekend and holding closings) or trading on the New York Stock Exchange is restricted; (b) any period during which an emergency exists such that the disposal of or the determination of the value of shares of the Portfolios is not reasonably practicable; or (c) any other period as the Securities and Exchange Commission may by order permit for the protection of security holders.. ICC16-J100 12

Appears in 2 contracts

Samples: Annuity Contract (Variable Annuity-2 Series Account), Annuity Contract (Variable Annuity-2 Series Account)

Postponement. If the Company receives a Request for surrender or partial withdrawal, the Company may postpone any cash payment from the Annuity Account Value, for no more than 7 days. The Company may delay payment for: (a) any period during which the New York Stock Exchange is closed (other than customary weekend and holding closings) or trading on the New York Stock Exchange is restricted;; J777ny 12 (b) any period during which an emergency exists such that the disposal of or the determination of the value of shares of the Portfolios is not reasonably practicable; or (c) any other period as the Securities and Exchange Commission may by order permit for the protection of security holders.

Appears in 2 contracts

Samples: Annuity Contract (Variable Annuity-2 Series Account), Annuity Contract (Variable Annuity-2 Series Account)

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Postponement. If the Company receives a Request for surrender or partial withdrawal, the Company may postpone any cash payment from the Annuity Account Value, Value for no more than 7 days. The Company may delay payment for: (a) any period during which the New York Stock Exchange is closed (other than customary weekend and holding holiday closings) or trading on the New York Stock Exchange is restricted; (b) any period during which an emergency exists such that the disposal of or the determination of the value of shares of the Portfolios is not reasonably practicable; or (c) any other period as the Securities and Exchange Commission may by order permit for the protection of security holders.. ICC14-J465 12

Appears in 1 contract

Samples: Annuity Contract (Variable Annuity 1 Series Account)

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