PURCHASE PAYMENT LIMITATIONS Sample Clauses

PURCHASE PAYMENT LIMITATIONS. Purchase Payments exceeding $1,000,000 will not be accepted without prior approval by FSBL. The Minimum Subsequent Purchase Payment amount is shown on page 3. PURCHASE PAYMENT ALLOCATION Purchase Payments will be allocated among the Subaccounts. The allocations may be a whole dollar amount or a whole percentage and no less than $25 per Purchase Payment may be allocated to any Account. Purchase Payments will be allocated according to the Owner's instructions in the Application or more recent instructions, if any. The Owner may change the allocations by written notice to FSBL.
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PURCHASE PAYMENT LIMITATIONS. Total Purchase Payments to the Contract may not be greater than $1,000,000 without prior approval by the Company. The Minimum Subsequent Purchase Payment amount is shown on page 3. PURCHASE PAYMENT ALLOCATION Purchase Payments may be allocated among the Fixed Account and the Subaccounts. The allocations may be a whole dollar amount or whole percentage. However, no less than $25 per Purchase Payment may be allocated to any Account. The Owner may change the allocations by written notice to the Company. PLACE OF PAYMENT All Purchase Payments under this Contract are to be paid to the Company. Purchase Payments after the first Purchase Payment are applied as of the end of the Valuation Period during which they are Received by the Company. -------------------------------------------------------------------------------- CONTRACT VALUE AND EXPENSE PROVISIONS -------------------------------------------------------------------------------- CONTRACT VALUE
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PURCHASE PAYMENT LIMITATIONS. The Initial Purchase Payment and minimum Initial Purchase Payment amounts are shown on page one. Total Purchase Payments may not exceed the Maximum Cumulative Purchase Payments shown on page one for the same Owner or Annuitant without our prior consent. We reserve the right to not accept any Purchase Payment. You may have Purchase Payments in only one DCA Fixed Account option at any given time. Any subsequent Purchase Payments must be at least equal to the amount shown on page one. These minimums may not apply under certain automatic or group payment plans that may be established and agreed to by us. Generally, there are no deductions made from the Purchase Payments. However, we reserve the right to make a deduction from the Purchase Payments for state premium taxes, where applicable. Purchase Payments are allocated to a DCA Fixed Account option, the Sub-Accounts of the Variable Account, or any available Indexed Accounts as you direct. However, the DCA Fixed Account options are not available under automatic payment plans. The Fixed Account is not available for Purchase Payment allocations. You may change your allocation for future Purchase Payments by Written Request or by telephone where permitted. Purchase Payments received with incomplete allocation instructions will be returned in full if we cannot credit them within five valuation days after receipt. Purchase Payments allocated to a DCA Fixed Account option will be transferred in approximately equal installments to the Sub-Accounts of the Variable Account over a specific time period. These transfers allow you to dollar cost average your Purchase Payments to your selected Sub-Accounts. The time period will be based on the DCA Fixed Account option you select. Interest will be credited on amounts in a DCA Fixed Account option at an annual rate at least equal to the guaranteed interest rate shown on page one. Additional Purchase Payments may be allocated to the DCA Fixed Account option elected and will then be transferred out to the designated Sub-Accounts over the remainder of the existing period. After the end of the period or when all Purchase Payments and interest in the DCA Fixed Account have been transferred out, you may allocate additional Purchase Payments to the same or a different DCA Fixed Account option and a new period will begin. To the extent permitted by law, we reserve the right at any time to offer DCA Fixed Account options that differ from those shown on page one. We also reserve the ri...
Sample 1
PURCHASE PAYMENT LIMITATIONS. Total Purchase Payments to the Contract may not be greater than $1,000,000 without prior approval by the Company. The Minimum Subsequent Purchase Payment amount is shown on page 3. PURCHASE PAYMENT ALLOCATION Purchase Payments may be allocated among the Fixed Account and the Subaccounts. The allocations may be a whole dollar amount or whole percentage. However, no less than $25 per Purchase Payment may be allocated to any Account. The Owner may change the allocations by written notice to the Company.
Sample 1Sample 2
PURCHASE PAYMENT LIMITATIONS. The Purchase Payment to the Contract may not be greater than $1,000,000 without prior approval by the Company. PURCHASE PAYMENT ALLOCATION The Purchase Payment may be allocated either among the Subaccounts as set forth on page 3, or to the Fixed Account. If one of Options 5, 6 or 7 is selected, the Purchase Payment may be allocated among the Subaccounts and the Fixed Account. The allocation to each Account must be a whole percentage. No less than 5 percent of the Purchase Payment may be allocated to any Account. PLACE OF PAYMENT The Purchase Payment under this Contract is to be paid to the Company at its Home Office. The Purchase Payment is applied no later than the end of the second Valuation Date following receipt by the Company of the Purchase Payment and an Application containing all information necessary to issue the Contract. -------------------------------------------------------------------------------- ANNUITY PAYMENT PROVISIONS -------------------------------------------------------------------------------- ANNUITY PAYOUT DATE The Annuity Payout Date is the date as of which the first Annuity Payment is computed under one of the Annuity Options. The Owner elects the Annuity Payout Date at the time of application. The Owner must select an Annuity Payout Date that is within 30 calendar days of the Contract Date. If no Annuity Payout Date is chosen, the Company will use a date one month from the Contract Date. The Owner may not change the Annuity Payout Date. ANNUITY OPTIONS The Contract provides for Annuity Payments to be made under one of nine Annuity Options. The Owner elects an Annuity Option in the Application. The Annuity Option is set forth on page 3 and may not be changed. Options 1 through 4 and 9 generally provide for payments to be made during the life of the Annuitant or Joint Annuitants. Under Options 5 through 8, payments are made to the Annuitant and in the event of the Annuitant's death, to the Designated Beneficiary.
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PURCHASE PAYMENT LIMITATIONS. Purchase Payments exceeding $1,000,000 will not be accepted without prior approval by SBL. The Minimum Subsequent Purchase Payment amount is shown on page 3. Purchase Payments will be allocated among the Fixed Account and the Subaccounts. The allocations may be a whole dollar amount or a whole percentage and no less than $25 per Purchase Payment may be allocated to any Account. Purchase Payments will be allocated according to the Owner's instructions in the Application or more recent instructions, if any. The Owner may change the allocations by written notice to SBL.
Sample 1

Related to PURCHASE PAYMENT LIMITATIONS

  • 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 Limitations 7.10.1 When the Project involves federal funds or any funds other than those authorized by the Mississippi Legislature, either by direct appropriation or by authority to issue general obligation bonds or revenue bonds of the State of Mississippi for expenditures to be made by or under the direction of the Owner, it is mutually agreed that the amount of the Professional's fee based on such funds shall in no event become due until such federal funds or other funds have been actually paid into the State Treasury.

  • SUPPLEMENTAL PAYMENT LIMITATION Notwithstanding the foregoing: A. the total of the Supplemental Payments made pursuant to this Article shall not exceed for any calendar year of this Agreement an amount equal to the greater of One Hundred Dollars ($100.00) per student per year in average daily attendance, as defined by Section 48.005 of the TEXAS EDUCATION CODE, or Fifty Thousand Dollars ($50,000.00) per year times the number of years beginning with the first complete or partial year of the Qualifying Time Period identified in Section 2.3.C and ending with the year for which the Supplemental Payment is being calculated minus all Supplemental Payments previously made by the Application; B. Supplemental Payments may only be made during the period starting the first year of the Qualifying Time Period and ending December 31 of the third year following the end of the Tax Limitation Period. C. the limitation in Section 6.2.A does not apply to amounts described by Section 313.027(f)(1)–(2) of the TEXAS TAX CODE as implemented in Articles IV and V of this Agreement. D. For purposes of this Agreement, the calculation of the limit of the annual Supplemental Payment shall be the greater of $50,000 or $100 multiplied by the District’s Average Daily Attendance as calculated pursuant to Section 48.005 of the TEXAS EDUCATION CODE, based upon the District’s Average Daily Attendance for the previous school year.

  • Purchase Price Payments (a) On each Payment Date, on the terms and subject to the conditions of this Agreement, the Initial Purchaser shall pay to KBK the Purchase Price for the Receivables and Related Assets to be purchased on such day by (i) making a cash payment to or at the direction of KBK to the extent that the Initial Purchaser has cash available to make such payment pursuant to SECTION 3.3, and (ii) automatically increasing the principal amount outstanding under the Purchaser Note issued to KBK by the amount of the excess, if any, of the Purchase Price to be paid to KBK for such Receivables and Related Assets OVER the amount of any payment made on such day pursuant to CLAUSE (I) next above. (b) On each Payment Date, the Initial Purchaser shall reduce the Purchase Price payable to KBK for the Receivables and Related Assets that the Initial Purchaser is to purchase on such day by an amount (the "PURCHASE PRICE ADJUSTMENTS") equal to the difference between (i) the sum of (A) the Dilution Adjustment (as defined in SECTION 3.5(B)), if any, for the immediately preceding Business Day, PLUS (B) the Noncomplying Receivables Adjustment (as defined in SECTION 3.5(A)), if any, for the immediately preceding Business Day, MINUS (ii) the amount of any payments that the Initial Purchaser shall have received on the immediately preceding Business Day on account of Collections due with respect to Noncomplying Receivables that have been included in an Purchase Price Adjustment previously deducted or paid in accordance with this SECTION 3.1. (c) If the Purchase Price Adjustments on any Payment Date exceed the Purchase Price payable by the Initial Purchaser to KBK on such day, then the principal amount of the Purchaser Note shall be automatically reduced by the amount of such excess; PROVIDED, that if the Purchaser Note has been reduced to zero, then KBK shall pay to the Initial Purchaser in cash the amount of such Purchase Price Adjustments on the next succeeding Business Day; and PROVIDED FURTHER, HOWEVER, that at any time (y) when a Liquidation Event or Unmatured Liquidation Event exists or (z) on or after the Purchase Termination Date, the amount of any such credit shall be paid by KBK to the Initial Purchaser by deposit in immediately available funds into the Collection Account for application by Servicer to the same extent as if Collections of the applicable Receivable in such amount had actually been received on such date.

  • EXPENSE PAYMENTS The Owner hereby gives power to the Agent to pay expenses and costs for the Property from the Owner’s funds held by the Agent, unless otherwise directed by the Owner. The expenses and costs may include, but are not limited to, property management compensation, fees and charges, expenses for goods and services, property taxes and other taxes, association or condominium dues, assessments, loan payments, and insurance premiums.

  • Interest Limitation It is the intention of the Company to conform strictly to all applicable usury laws and any subsequent revisions, repeals or judicial interpretations thereof. Accordingly, if the transactions contemplated hereby would be usurious under any applicable law then, in that event, notwithstanding anything to the contrary in the Securities or this Indenture, it is agreed as follows: (i) the aggregate of all consideration which constitutes interest under applicable law with respect to a Security shall under no circumstances exceed the maximum amount allowed by applicable law, and any excess shall be credited to the principal amount of such Security (or, if the principal amount of such Security shall have been paid in full, refunded to the Company), to the extent permitted by applicable law; and (ii) in the event that the maturity of any Security is accelerated or in the event of any redemption of such Security, then such consideration that constitutes interest under applicable law may never include more than the maximum amount allowed by applicable law, and any excess shall be credited to the principal amount of such Security (or, if the principal amount of such Security shall be paid in full, refunded to the Company), to the extent permitted by applicable law. All calculations made to compute the rate of interest with respect to a Security for the purpose of determining whether such rate exceeds the maximum amount allowed by applicable law shall be made, to the extent permitted by such applicable law, by allocating and spreading during the period of the full stated term of such Security all interest any time contracted for, taken, reserved, charged or received by such Holder or by the Trustee on behalf of any such Holder in connection therewith so that the amount or rate of interest charged for any and all periods of time during the term of the Security does not exceed the maximum amount or rate of interest allowed to be charged by law during the relevant period of time. Notwithstanding any of the foregoing, if at any time applicable laws shall be changed so as to permit a higher rate or amount of interest to be charged than that permitted prior to such change, then unless prohibited by law, references in this Indenture or any Security to “applicable law” when used in the context of determining the maximum interest or rate of interest that can be charged shall be deemed to refer to such applicable law as so amended to allow the greater amount or rate of interest. The right to accelerate maturity of any Security does not include the right to accelerate any interest which has not otherwise accrued to the date of such acceleration, provided, however, that the foregoing shall not prohibit the continuing accrual after acceleration of interest in accordance with the terms of the Indenture and such Security.

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

  • Indemnity Limitation for TIPS Sales Texas and other jurisdictions restrict the ability of governmental entities to indemnify others. Vendor agrees that if any "Indemnity" provision which requires the TIPS Member to indemnify Vendor is included in any TIPS sales agreement/contract between Vendor and a TIPS Member, that clause must either be stricken or qualified by including that such indemnity is only permitted, "to the extent permitted by the laws and constitution of [TIPS Member's State]” unless the TIPS Member expressly agrees otherwise. Any TIPS Sale Supplemental Agreement containing an "Indemnity" clause that conflicts with these terms is rendered void and unenforceable.

  • Lease Payments Tenant agrees to pay to Landlord as rent for the Premises the amount of dollars ($ ) each month in advance on the 1st day of each month at month of , 20 or at any other address designated by Landlord. If the Lease Term does not start on the 1st day of the month or end on the last day of a month, the first and last month’s rent will be prorated accordingly.

  • Installment Payments For purposes of Code Section 409A, Employee’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days, the actual date of payment within the specified period shall be within the sole discretion of the Company.

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