SEPARATE ACCOUNT PROVISIONS Sample Clauses

SEPARATE ACCOUNT PROVISIONS. Separate Account — We established the Separate Account and maintain it under the laws and regulations of our state of domicile. The assets of the Separate Account shall be valued at least as often as any policy benefits vary, but at least monthly. The Separate Account is divided into subaccounts, called Variable Accounts. Xxxxxx and realized and unrealized gains and losses from the assets of each Variable Account are credited or charged against it without regard to our other income, gains or losses. Assets may be put in our Separate Account to support this policy and other variable life policies. Assets may be put in our Separate Account for other purposes, but not to support contracts or policies other than variable life contracts or policies. The assets of our Separate Account are our property. The portion of its assets equal to the reserves and other policy liabilities with respect to our Separate Account will not be chargeable with liabilities arising out of any other business we conduct. We may transfer assets of a Variable Account in excess of the reserves and other liabilities with respect to that Variable Account to another Variable Account or to our P09MVP general account. All obligations arising under the policy are general corporate obligations of ours. We do not hold ourselves out to be trustees of the Separate Account assets.
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SEPARATE ACCOUNT PROVISIONS. 9 PAYMENTS........................................................4 TABLE OF GUARANTEED MONTHLY MAXIMUM COST OF INSURANCE RATES.....................................19,20
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SEPARATE ACCOUNT PROVISIONS. Separate Account You may allocate your Net Premium Payments and Accumulation Value (except for Loan Account Value) to the Sub-Account(s), which are divisions of the Separate Account shown in the Policy Specifications. The Separate Account was established by a resolution of our Board of Directors as a "separate account" under the insurance law of our state of domicile. The Separate Account under which there are Sub-Accounts is registered as a unit investment trust under the 1940 Act. The assets of the Separate Account (except assets in excess of the reserves and other contract liabilities of the Separate Account) will not be chargeable with liabilities arising out of any other business conducted by us. The income, gains or losses from the Separate Account's assets will be credited or charged against the Separate Account without regard to the income, gains or losses of the Company. Separate Account assets are owned and controlled exclusively by us, and we are not a trustee with respect to such assets. We may change the investment policy of the Separate Account at any time. If required by the Insurance Commissioner, we will file any such change for approval with the Department of Insurance in our state of domicile, and in any other state or jurisdiction where this Policy is issued. Sub-Accounts The Separate Account is divided into Sub-Accounts. The assets of each Sub-Account will be invested fully and exclusively in shares of the appropriate Underlying Fund for such Sub-Account. The investment performance of each Sub-Account will reflect the investment performance of the appropriate Underlying Fund. For each Sub-Account, we will maintain Variable Accumulation Units as a measure of the investment performance of the Underlying Fund shares held in such Sub-Account. We may add or delete Sub-Accounts at any time. Investments of the Sub-Accounts All amounts allocated or transferred to a Sub-Account will be used to purchase shares of the appropriate Underlying Fund. Each Underlying Fund will at all times be registered under the 1940 Act as an open-end management investment company. After due consideration of appropriate factors, we may eliminate or substitute Underlying Funds in accordance with the "Underlying Fund Withdrawal and Substituted Securities" provision. Any and all distributions made by an Underlying Fund will be reinvested in additional shares of that Underlying Fund at net asset value. Deductions by us from a Sub-Account will be made by redeeming a numb...
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SEPARATE ACCOUNT PROVISIONS. THE SEPARATE ACCOUNTS: The Separate Account consist of assets set aside by the Company, which are kept separate from that of the general assets and any other separate account assets of the Company. The Variable Account assets are divided into Sub-Accounts. The assets of the Sub-Accounts are allocated to the Eligible Fund(s) and the Portfolio(s), if any, within an Eligible Fund. Should the shares of any such Eligible Fund(s) or any Portfolio(s) within an eligible Fund become unavailable for investment by the Variable Account, or the Company's Board of Directors deems further investment in these shares inappropriate, the Company may limit further purchase of such shares or substitute shares of another Eligible Fund or Portfolio for shares already purchased under a Certificate.
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SEPARATE ACCOUNT PROVISIONS. Section 4240 and Regulation No. 47 These provisions are common to all separate account agreements.
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SEPARATE ACCOUNT PROVISIONS. 9 Subaccounts ............................................................. 10 Transfers Among Subaccounts During the Accumulation Period ................................................. 10 Transfers Among Subaccounts After the Maturity Date ........................................................ 10 SEPARATE ACCOUNT PROVISIONS (continued) Addition, Deletion or Substitution of Investments .......................................................... 10
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SEPARATE ACCOUNT PROVISIONS. Separate Account: AUSA Series Annuity Account Separate Account Charge [1.25 -1.40] % Annually Premium Provisions ------------------ Maximum Additional Annual Premium: $1,000,000 (Without Prior Approval) Minimum Additional Premium: $50.00 Contract Value Provisions ------------------------- Annual Contract Charge: $30 Minimum Balance: $5,000 Fixed Account Minimum Guaranteed Effective Annual Interest Rate 3% ------------------------------ Surrender Charge Period: 84 Months from the Date of Each Premium Payment Surrender Charge Percentage (As a Percentage of Each Respective Premium Payment): Months Since Date of Payment Percentage ---------------------------- ---------- 24 Months or Less 7% 25 Months Through 36 Months 6% 37 Months Through 48 Months 5% 49 Months Through 60 Months 4% 61 Months Through 72 Months 3% 73 Months Through 84 Months 2% 85 Months or More 0% DEFINITIONS ================================================================================ Accounts Allocation options including the Fixed Account and the Subaccounts of the Separate Account. Accumulation Period The period between the Contract Date and the Maturity Date while the Contract is in force. Accumulation An accounting unit of measure used to calculate Unit Value Subaccount values for the Contract during the Accumulation Period. Age Issue Age refers to the Age of the Annuitant on his/her birthday immediately proceeding the Contract Date. Attained Age refers to the Issue Age plus the number of completed contract years. Annuitant The person named on the application, or as subsequently changed, to receive annuity payments. The Annuitant may be changed as provided in the Death Benefit Provisions and Annuity Provisions. Annuity Proceeds The amount applied to purchase periodic annuity payments. Such amount is the Annuity Value on the Maturity Date, less any applicable Premium Tax.
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Related to SEPARATE ACCOUNT PROVISIONS

  • Separate Accounts The trustee shall maintain within the trust fund a separate account for each Agricultural Contractor that signs the trust agreement to hold deposits made pursuant to this article.

  • Separate Account If Student-Generated Content is stored or maintained by the Provider, Provider shall, at the request of the LEA, transfer, or provide a mechanism for the LEA to transfer, said Student- Generated Content to a separate account created by the student.

  • SUBACCOUNTS The Separate Account is divided into Subaccounts which invest in shares of mutual funds. Each Subaccount may invest its assets in a separate class or series of a designated mutual fund or funds. The Subaccounts are shown on page 3. Subject to the regulatory requirements then in force, SBL reserves the right to:

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Establishment of and Deposits to Custodial Account The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled "Countrywide Home Loans Inc. in trust for the Purchaser of Conventional Residential Conventional Residential Mortgage Loans, and various Mortgagors". The Custodial Account shall be established with a Qualified Depository. Any funds deposited in the Custodial Account shall at all times be fully insured to the full extent permitted under applicable law. Funds deposited in the Custodial Account may be drawn on by the Company in accordance with Section 4.05. The creation of any Custodial Account shall be evidenced by a certification in the form of Exhibit D-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit D-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification or letter agreement shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser. The Company shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Company and payments made by the Company after the related Cut-off Date, (other than payments of principal and interest due on or before the related Cut-off Date, or received by the Company prior to the related Cut-off Date but allocable to a period subsequent thereto or with respect to each LPMI Loan, in the amount of the LPMI Fee):

  • Omnibus Account The parties agree that, with respect to each Fund, a single omnibus account held in the name of the Nominee shall be maintained for those Plan assets directed for investment directly in the Fund, and a single omnibus account held in the name of ING Life shall be maintained for those Plan assets directed for investment in the Fund through the Contracts (collectively, the "Accounts.") ING Life as issuer of the Contracts or as service agent for the Plans, shall facilitate purchase and sale transactions with respect to the Accounts in accordance with the Agreement.

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