Specified Percentage. Payment of a designated percentage which cannot be greater than the percentage of the Current Value at the time of election as shown on Contract Schedule I. The percentage may be changed by written request. Aetna reserves the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Current Value as of December 31 of the year prior to the payment by the designated percentage.
Specified Percentage. Payment of a designated percentage which cannot be greater than the percentage of the Certificate Holder's Account Value at the time of election as shown on the Contract Schedule. The percentage may be changed by written request. We reserve the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Certificate Holder's Account Value as of December 31 of the year prior to the payment by the designated percentage. In our discretion, We may require a minimum initial Certificate Holder's Account Value for election of this option. SWO may be elected by submitting a completed and signed election form to Us. Once elected, this option may be revoked by submitting a written request to Us. SWO may be elected only once by the Certificate Holder or by a spousal Beneficiary. Certificate Holders should consult their tax adviser prior to requesting this distribution option. We are not responsible for any adverse tax consequences due to a Certificate Holder's receiving SWO payments. A ten (10) percent penalty tax may apply to distributions to a Certificate Holder who has not reached age 59-1/2. Upon death of the Certificate Holder, any payments will be made under the terms of Section 10.
Specified Percentage. Payment of a designated percentage which cannot be greater than the percentage shown on Contract Schedule I. The percentage may be changed by written request. Aetna reserves the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Current Value as of December 31 of the year prior to the payment by the designated percentage. Payments upon the Certificate Holder's or Annuitant's death will be made to the Beneficiary in the manner described in 3.07.
Specified Percentage. Purchaser agrees to accept the remittance of the Specified Percentage in one of the following ways: (i) directly from Merchant’s card processor; (ii) by debiting the Merchant’s bank account; or (iii) by debiting a deposit account established by Merchant that is approved by Purchaser. Purchaser may decide in its sole discretion which of the three methods it will accept for the remittance of the Specified Percentage and will notify Merchant prior to delivering the Purchase Price to Merchant. If Purchaser agrees to accept the remittance of the Specified Percentage directly from the Merchant’s card processor, Merchant agrees to enter into an agreement with a card processor acceptable to Purchaser (“Processor”) that authorizes Processor to pay the Specified Percentage directly to Purchaser rather than to Merchant until the Amount Sold has been forwarded by Processor to Purchaser. This authorization shall be irrevocable, absolute and unconditional. Merchant hereby irrevocably grants Processor the right to hold the Specified Percentage and to pay Purchaser directly (at, before or after the time Processor credits or remits to Merchant the balance of the Future Receivables not sold by Merchant to Purchaser) until the entire Amount Sold has been forwarded to Purchaser. Merchant authorizes Purchaser to act as Merchant’s agent for purposes of accessing and retrieving transaction history information regarding Merchant from Processor and any additional card processors Merchant may utilize during the term of this Agreement. Merchant acknowledges and agrees that Processor may provide Purchaser with Merchant’s Payment Device processing history, including without limitation Merchant’s chargeback experience and any communications about Merchant received by Processor from a card processing system. Merchant acknowledges that Purchaser does not have any power or authority to control the Processor’s actions with respect to the authorization, clearing, settlement and other processing of transactions and that Purchaser is not responsible for the Processor’s actions. Merchant agrees to hold Purchaser harmless for the Processor’s actions or omissions. If Purchaser agrees to accept the remittance of the Specified Percentage by debiting the Merchant’s bank account, Merchant irrevocably authorizes Purchaser or its designated successor or assignee to withdraw the Specified Percentage by initiating a debit via the Automatic Clearing House (ACH) system to the Merchants’ bank account (as l...
Specified Percentage. Payments of a designated percentage which cannot be greater than the percentage of the Current Value at the time of election as shown on Contract Schedule I. The percentage may be changed by written request. Aetna reserves the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Current Value as of December 31 of the year prior to the payment year by the designated percentage. Payments will be made until the year the Certificate Holder attains age 70 1/2 or, if elected by the spouse Beneficiary, the year the Certificate Holder would have attained age 70 1/2. Under both the Specified Payment and Specified Period payment methods, a higher amount shall be paid in any year if required under the Code minimum distribution rules. For purposes of this determination, life expectancy for the initial distribution year shall be calculated based on single life expectancy Table V of section 1.72-9 of the Income Tax Regulations. With each subsequent year, the life expectancy will be the life expectancy for the previous year reduced by one. Payments upon the Certificate Holder's death will be made to the Beneficiary in the manner described in 3.13.
Specified Percentage. Payment of a designated percentage which cannot be greater than the percentage of the Certificate Holder's Account Value at the time of election as shown on the Contract Schedule. The percentage may be changed by written request. We reserve the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Certificate Holder's Account Value as of December 31 of the year prior to the payment by the designated percentage. SWO payments will cease at the Certificate Holder's death (or if the Certificate Holder is a nonnatural person, at the death of the Annuitant). A beneficiary may elect to continue SWO as provided in Section 10.01. In our discretion, We may require a minimum initial Certificate Holder's Account Value for election of this option. SWO may be elected by submitting a completed and signed election form to Us. Once elected, this option may be revoked by submitting a written request to Us. SWO may be elected only once by the Certificate Holder or by a spousal Beneficiary. Certificate Holders should consult their tax adviser prior to requesting this distribution option. We are not responsible for any adverse tax consequences due to a Certificate Holder's receiving SWO payments. A ten (10) percent penalty tax may apply to distributions to a Certificate Holder who has not reached age 59-1/2. Upon death of the Certificate Holder, any payments will be made under the terms of Section 10. Dollar Cost Averaging is not available to Certificate Holders who have elected SWO.
Specified Percentage. Payment of a designated percentage which cannot be greater than the percentage of the Contract Value at the time of election as shown on the Contract Schedule. The percentage may be changed by written request. We reserve the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Contract Value as of December 31 of the year prior to the payment by the designated percentage. In our discretion, We may require a minimum initial Contract Value for election of this option. SWO may be elected by submitting a completed and signed election form to Us. Once elected, this option may be revoked by submitting a written request to Us. SWO may be elected only once by the Contract Holder or by a spousal Beneficiary. The Contract Holders should consult his/her tax adviser prior to requesting this distribution option. We are not responsible for any adverse tax consequences due to a Contract Holder's receiving SWO payments. A ten (10) percent penalty tax may apply to distributions to a Contract Holder who has not reached age 59-1/2. Upon death of the Contract Holder, any payments will be made under the terms of Section 10.
Specified Percentage. 23.07692308% By: ------------------------------------------ Name: ------------------------------------- Title: ------------------------------------ 1100 Xxxxxx, 0xx Xxxxx Xxxxxx Xxxx, Xxxxxxxx 00000 Attn: Bruxx X. Xxxxxxxx ================================================================================
Specified Percentage. Payment of a designated Withdrawal Option percentage which cannot be greater than the (SWO) (Cont'd): percentage of the Current Value at the time of election as shown on Contract Schedule I. The percentage may be changed by written request. Aetna reserves the right to limit the number of times the percentage may be changed. The annual amount is calculated by multiplying the Current Value as of December 31 of the year prior to the payment by the designated percentage. Payments upon the Certificate Holder's or Annuitant's death will be made to the Beneficiary in the manner described in 3.12.
Specified Percentage. Payments made as a specified percentage of the Individual Account. The specified percentage chosen cannot be greater than as shown on Contract Schedule I. The Contract Holder on behalf of a Participant may change the specified percentage elected every six months. Each annual distribution is determined by multiplying the Individual Account Current Value by the percentage chosen. The value to be used in this calculation is the value on the December 31st prior to the year for which the payment is being made. For payments made more often than annually, the annual payment result (calculated above) is divided by the number of payments due each year. Payments will be made each year until the year the Participant attains age 70 1/2. d) Life Expectancy Factor: For the Participant, the life expectancy factor for the initial distribution year is either single life or joint life expectancy as elected by the Contract Holder, based on tables in Section 401(a)(9) of the Code or related regulations. For a spouse beneficiary, only a single life expectancy is available. With each subsequent year, the life expectancy factor will be the life expectancy factor for the initial distribution year, reduced by one. These calculations may be changed as necessary to comply with the Code minimum distribution rules. If the joint life expectancy is selected and the Participant or the beneficiary dies on or after the required beginning date for minimum distributions to the Participant, the joint life expectancy factor will continue to be reduced by one for each distribution year. Payments will continue unless the Contract Holder elects an alternate payment mode on behalf of the survivor. Any payment mode elected on behalf of the Plan beneficiary must provide payments to be made at least as rapidly as those made prior to the
