PURCHASE PAYMENT, CURRENT VALUE Sample Clauses

PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS -------------------------------------------------------------------------------- 3.01 Net Purchase Payment .............................................. 15 3.02 Certificate Holder's Account ...................................... 15 3.03 Fund(s) Record Units -- Separate Account ..........................
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PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS --------------------------------------------------------------------------------
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PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS ----------------------------------------------------------------------------- 3.01 NET PURCHASE PAYMENT........................................... 11
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PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS -------------------------------------------------------------------------------- 3.01 Net Purchase This amount is the actual Purchase Payment less any Payment: premium tax. Aetna will generally deduct the premium tax when Annuity benefits are elected (see Part IV). If Aetna determines that under applicable state law, it must pay a premium tax when the Purchase Payment is received or at any other time, it will deduct the tax at that time. The Net Purchase Payment will be credited among: (a) The current Deposit Period(s) for Guaranteed Terms under the MG Account; and (b) The Fund(s) in which the Separate Account invests. 3.01 Net Purchase For each Net Purchase Payment, the Certificate Holder Payment (Cont'd): shall tell Aetna the allocation percentage to be applied to the current Deposit Period for each of the available Guaranteed Terms in the MG Account and/or each Fund. If allocation instructions are not received along with any subsequent Net Purchase Payment, the allocation will be the same as that indicated on the original enrollment form. If the same Guaranteed Term is no longer available, the Net Purchase Payment will be allocated to the next shortest Guaranteed Term available in the current Deposit Period. If no shorter Guaranteed Term is available, the next longer Guaranteed Term will be used. 3.02 Certificate Aetna will maintain an Account for each Certificate Holder's Account: Holder. Aetna will declare from time to time the acceptability and the minimum amount for additional Purchase Payments. Each Account will be subject to the Terms and Conditions of the Contract in effect at the time the first Purchase Payment for such Account is applied to the Contract except for changes made to comply with federal or state law. 3.03 Fund(s) Record The portion of the Net Purchase Payment(s) applied to Units --Separate each Fund under the Separate Account will determine Account: the number of Fund record units for that Fund. This number is equal to the portion of the Net Purchase Payment(s) applied to each Fund divided by the Fund record unit value (see 3.05) for the Valuation Period in which the Purchase Payment is received in good order at Aetna's Home Office. 3.04 Net Return The net return factor(s) are used to compute all Factor(s) -- Separate Account record units for any Fund. Separate Account: The net return factor(s) for each Fund is equal to 1.0000000 plus the net return rate.
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PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS -------------------------------------------------------------------------------- 3.01 Net Purchase Payment: This amount is the actual Purchase Payment less any applicable premium tax. Aetna reserves the right to deduct any premium tax at any time from the Purchase Payment or from the Certificate Holder's Account. The Certificate Holder shall designate, on the enrollment form, the allocation percentage of the Net Purchase Payment to be applied to each of the available Guaranteed Periods during the current Deposit Period(s). The minimum amount that may be allocated to any Guaranteed Period is shown on Contract Schedule I.
Sample 1Sample 2See All (4)
PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS -------------------------------------------------------------------------------- 3.01 Net Purchase Payment: This amount is the actual Purchase Payment less any premium tax. Aetna will generally deduct the premium tax when Annuity benefits are elected (see Part IV). If Aetna determines that under applicable state law, it must pay a premium tax when the Purchase Payment is received or at any other time, it will deduct the tax at that time. The Net Purchase Payment will be credited among: (a) The current Deposit Period(s) for Guaranteed Terms under the AG Account; and (b) The Fund(s) in which the Separate Account invests. The Certificate Holder shall tell Aetna the allocation percentage to be applied to the current Deposit Period for each of the available Guaranteed Terms in the AG Account and/or each Fund. 3.02 Certificate Aetna will maintain an Account for each Certificate Holder's Account: Holder. Aetna will declare from time to time the acceptability and the minimum amount for a Purchase Payment. 3.03 Fund(s) Record The portion of the Net Purchase Payment applied to Units -- Separate each Fund under the Separate Account will determine Account: the number of Fund record units for that Fund. This number is equal to the portion of the Net Purchase Payment applied to each Fund divided by the Fund record unit value (see 3.05) for the Valuation Period in which the Purchase Payment is received in good order at Aetna's Home Office. 3.04 Net Return The net return factor(s) are used to compute all Factor(s) -- Separate Account record units for any Fund. Separate Account: The net return factor(s) for each Fund is equal to 1.0000000 plus the net return rate. The net return rate is equal to: (a) The value of the shares of the Fund held by the Separate Account at the end of the Valuation Period; minus (b) The value of the shares of the Fund held by the Separate Account at the start of the Valuation Period; plus or minus (c) Taxes (or reserves for taxes) on the Separate Account (if any); divided by (d) The total value of the Fund(s) record units and Fund(s) annuity units of the Separate Account at the start of the Valuation Period; minus (e) A daily Separate Account charge at an annual rate as shown on Contract Schedule I for mortality and expense risks, which may include profit; and a daily administrative charge. A net return rate may be more or less than 0%. The value of a share of the Fund is equal to the net assets of the Fund divided by the...
Sample 1
PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS -------------------------------------------------------------------------------- 3.01 Net Purchase Payment(s): The actual Purchase Payment less any premium tax. Generally, Aetna will deduct the premium tax when Annuity benefits are purchased (see Part IV). If Aetna determines that a premium tax is due when Purchase Payments are received or at any other time, it will deduct the tax at that time. The Net Purchase Payment(s) may be credited among: (a) The Fixed Account; and (b) The Guaranteed Accumulation Account; and (c) The Fund(s) in which the Separate Account invests. Aetna must be told the percentage of the Net Purchase Payment(s) to be applied to each investment above. During any calendar year, the Contract Holder or, if allowed by the Plan, you may tell Aetna to change the investment mix twelve times. Should Aetna allow additional changes, each may be subject to a fee of up to $10.
Sample 1
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PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS --------------------------------------------------------------------------------- 3.01 Net Purchase Payment: This amount is the actual Purchase Payment less any applicable premium tax. Aetna reserves the right to deduct any premium tax at any time from the Purchase Payment or from the Certificate Holder's Account. The Certificate Holder shall designate, on the enrollment form, the allocation percentage of the Net Purchase Payment to be applied to each of the available Guaranteed Periods during the current Deposit Period(s) . The minimum amount that may be allocated to any Guaranteed Period is shown on Contract Schedule I. 3.02 Market Value Adjustment: There will be an MVA for any withdrawal before the end of a Guaranteed Period when the withdrawal is due to:
Sample 1
PURCHASE PAYMENT, CURRENT VALUE. AND SURRENDER PROVISIONS ------------------------------------------------------------------------------- 3.01 Net Purchase Payment: This amount is the actual Purchase Payment less any premium tax. Aetna will generally deduct the premium tax when Annuity benefits are elected (see Part IV). If Aetna determines that under applicable state law, it must pay a premium tax when the Purchase Payment is received or at any other time, it will deduct the tax at that time. The Net Purchase Payment will be credited among: (a) The current Deposit Period(s) for Guaranteed Terms under the MG Account; and (b) The Fund(s) in which the Separate Account invests. The Contract Holder shall tell Aetna the allocation percentage to be applied to the current Deposit Period for each of the available Guaranteed Terms in the MG Account and/or each Fund.
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Related to PURCHASE PAYMENT, CURRENT VALUE

  • Returned Payment Fee If your account is subject to a Returned Payment Fee, the fee will be charged to your account when a payment is returned for any reason.

  • PURCHASE PAYMENTS PURCHASE PAYMENTS - This Contract will not be in force until we receive the initial Purchase Payment. Your initial Purchase Payment is shown in the Contract Specifications. You may make additional Purchase Payments at any time before the Annuity Date, while the Annuitant is living and this Contract is in force. Each additional Purchase Payment must be at least $100 for Non-Qualified Contracts and $50 for Qualified Contracts. We may limit the amount of any single Purchase Payment. You must obtain our consent before making a Purchase Payment that will bring your aggregate Purchase Payments over $500,000. Purchase Payments are payable in U.S. dollars either at our Service Center or through our agent. Checks should be made payable to Pacific Mutual Life Insurance Company. If you make Purchase Payments by check other than a cashier's check, your withdrawal proceeds and any refund under your Right to Cancel may be delayed until your check has cleared. On request, a receipt for the Purchase Payment signed by an officer of PM will be provided after payment. PURCHASE PAYMENT ALLOCATION - Prior to your Annuity Date, you may allocate all or part of your Purchase Payments to one or more of the Investment Options available to you. The Investment Options available to you on the Contract Date are shown on your Contract Specifications page. You may change your allocation by sending us proper instructions (see GENERAL PROVISIONS: INSTRUCTIONS AND REQUESTS). We will allocate any Purchase Payment according to your most recent allocation instructions. We may reject any instruction or Purchase Payment that does not comply with our requirements. ALLOCATIONS DURING THE RIGHT TO CANCEL PERIOD - We will allocate your initial Purchase Payment in accordance with your most recent allocation instructions. However, if this Contract is issued in a state that requires us to refund all Purchase Payments according to the Right to Cancel provision, we will allocate the portion of your initial Purchase Payment designated for Variable Investment Options to the Money Market Portfolio, and the portion of your initial Purchase Payment designated for the Fixed Option to the Fixed Option. Any subsequent Purchase Payments that are received before the Right to Cancel Transfer Date will be allocated in the same manner as the initial Purchase Payment. On the Right to Cancel Transfer Date, which occurs 15 days after your Contract is issued, we will transfer the Account Value in the Money Market Portfolio to your Variable Investment Options in accordance with your most recent allocation instructions. We reserve the right to extend the Right to Cancel Transfer Date by the number of days in excess of ten days that the issue state allows you to return your Contract to us pursuant to your Right to Cancel right. MINIMUM INVESTMENT OPTION VALUE - We reserve the right to require that, as a result of any allocation to an Investment Option, any transfer, or any partial withdrawal, your remaining Account Value in any Investment Option must meet a minimum Account Value amount. We also reserve the right to transfer any remaining Account Value that does not meet such minimum amount to your other Investment Options on a prorata basis relative to your most recent allocation instructions for those Investment Options.

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.

  • Cash Purchase Price The term "Cash Purchase Price" shall have the meaning set forth in Section 2.3(a).

  • Purchase Price Payment The total Purchase Price for the Property is the amount of the successful bid for the parcel at public auction.

  • No Payment Shall Exceed Lawful Rate Notwithstanding any other term of this Agreement, the Borrower shall not be obliged to pay any interest or other amounts under or in connection with this Agreement or otherwise in respect of the Obligations in excess of the amount or rate permitted under or consistent with any applicable law, rule or regulation.

  • Aggregate Purchase Price (a) The aggregate cash amount to be paid by the Purchaser at the Closing shall be Three Hundred Twenty Million Dollars ($320,000,000) minus the sum of (A) the amount of Net Debt, (B) the aggregate amount of all Seller Transaction Expenses to the extent not paid prior to the Closing Date that are due and payable on the Closing Date and (C) the aggregate Stock Option Adjustment Amounts (the "Preliminary Purchase Price"); provided, however, one and one-half percent (1.5%) of the sum of (x) the Preliminary Purchase Price plus (y) the aggregate Stock Option Adjustment Amounts (together, the "Escrow Amount") shall be delivered to an escrow agent (which escrow agent shall be a bank or trust company with a branch located in the City of New York) appointed prior to the Closing by the Stockholders Representative, subject to approval by the Purchaser, which approval shall not be unreasonably withheld or delayed, pursuant to an Escrow Agreement (the "Escrow Agreement") to be entered into by the Purchaser, the Stockholders Representative and the Escrow Agent. Such Escrow Amount shall be held and disbursed by the escrow agent in accordance with the terms and conditions in this Article II and in the Escrow Agreement. Prior to the Closing, the Stockholder Representative shall prepare a schedule (based upon the respective amounts payable to each Seller net of any amount payable by such Seller hereunder, but assuming that individually and in the aggregate each holder of Rollover Options held a like number of Options that were not Rollover Options in lieu of the Rollover Options so held) setting forth the respective percentages of the aggregate Escrow Amount applicable to each Seller, which schedule shall be utilized to determine any distributions to Sellers from the Escrow Amount or any other adjustments to the Purchase Price and corresponding payments to or by the Sellers (the "Pro Rata Amount"). (b) As used herein, the "Net Working Capital Adjustment Amount" shall be the difference between the final Net Working Capital amount as set forth in the Final Statement minus the Target. In accordance with Sections 2.7 and 2.8, the Preliminary Purchase Price shall be (1) increased by the Net Working Capital Adjustment Amount, if the Net Working Capital Adjustment Amount is a positive integral, or (2) decreased by the Net Working Capital Adjustment Amount, if the Net Working Capital Adjustment Amount is a negative integral. The Preliminary Purchase Price as so adjusted shall constitute the "Purchase Price."

  • Base Purchase Price Buyer agrees to pay for the Assets the total sum of Thirty Million and No/100 Dollars ($30,000,000.00) (“Base Purchase Price”) to be paid by direct bank deposit or wire transfer in same day funds at the Closing, subject only to the price adjustments set forth in this Agreement.

  • Prepayment Fee The Prepayment Fee, when due hereunder, to be shared between the Lenders in accordance with their respective Pro Rata Shares; and

  • Adjustment if Any Payment Exceeds Lawful Rate If any provision of this Agreement or any of the other Credit Documents would obligate the Borrower to make any payment of interest or other amount payable to any Lender in an amount or calculated at a rate that would be prohibited by any applicable law, rule or regulation, then notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law, such adjustment to be effected, to the extent necessary, by reducing the amount or rate of interest required to be paid by the Borrower to the affected Lender under Section 2.8; provided that to the extent lawful, the interest or other amounts that would have been payable but were not payable as a result of the operation of this Section shall be cumulated and the interest payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. Notwithstanding the foregoing, and after giving effect to all adjustments contemplated thereby, if any Lender shall have received from the Borrower an amount in excess of the maximum permitted by any applicable law, rule or regulation, then the Borrower shall be entitled, by notice in writing to the Administrative Agent to obtain reimbursement from that Lender in an amount equal to such excess, and pending such reimbursement, such amount shall be deemed to be an amount payable by that Lender to the Borrower.

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