Subsequent Purchase Payments Sample Clauses
The "Subsequent Purchase Payments" clause defines the terms and conditions under which additional payments may be made after the initial purchase in a contractual relationship. Typically, this clause outlines the timing, method, and any limitations or requirements for making further payments, such as installment schedules or triggers for additional purchases. Its core practical function is to provide a clear framework for handling future financial transactions between the parties, thereby reducing ambiguity and ensuring both sides understand their ongoing payment obligations.
Subsequent Purchase Payments. Cumulative Purchase Payments after the first Contract Year are limited to the Maximum Additional Purchase Payments shown in the Rider Specifications, without our consent. Purchase Payments are allocated to the Guaranteed Interest Options and/or the Sub-Accounts as you direct, subject to the provisions in the Contract Value Allocation Options section.
Subsequent Purchase Payments. Subject to the minimum subsequent and maximum total shown on the Contract Schedule, the Contract Owner may make subsequent Purchase Payments.
Subsequent Purchase Payments. If all or a portion of initial Purchase Payments are directed to the Subaccounts, they will purchase Subaccount Accumulation Units at the Accumulation Unit Value next computed after our acceptance of the applicable application or enrollment forms, as described in “CONTRACT PURCHASE AND PARTICIPATION” in the full Contract Prospectus. Subsequent Purchase Payments or transfers directed to the Subaccounts that we receive in Good Order by the close of business of the New York Stock Exchange (“NYSE”) (normally at 4:00 p.m. Eastern Time) will purchase Subaccount Accumulation Units at the Accumulation Unit Value computed as of the close of the NYSE on that day. The value of Subaccounts may vary day to day. Subsequent Purchase Payments and transfers received in Good Order after the close of the NYSE will purchase Accumulation Units at the Accumulation Unit Value computed as of the close of the NYSE on the next business day. MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT Withdrawals Subject to limitations on withdrawals and other restrictions (see “Withdrawal Restrictions” in this section), the Contract Holder, or you if permitted by the plan, may withdraw all or a portion of your Account Value at any time during the Accumulation Phase.
Subsequent Purchase Payments. If all or a portion of initial Purchase Payments are directed to the Subaccounts, they will purchase Subaccount Accumulation Units at the Accumulation Unit Value next computed after our acceptance of the applicable application or enrollment forms, as described in “CONTRACT PURCHASE AND PARTICIPATION” in the full Contract Prospectus. Subsequent Purchase Payments or transfers directed to the Subaccounts that we receive in Good Order by the close of business of the New York Stock Exchange (“NYSE”) (normally at 4:00 p.m. Eastern Time) will purchase Subaccount Accumulation Units at the Accumulation Unit Value computed as of the close of the NYSE on that day. The value of Subaccounts may vary day to day. Subsequent Purchase Payments and transfers received in Good Order after the close of the NYSE will purchase Accumulation Units at the Accumulation Unit Value computed as of the close of the NYSE on the next business day. MAKING WITHDRAWALS: ACCESSING THE MONEY IN YOUR CONTRACT Withdrawals Subject to limitations on withdrawals from the Fixed Interest Options and other restrictions (see “Withdrawal Restrictions” in this section), the Contract Holder may withdraw all or a portion of the individual or plan Account Value at any time during the Accumulation Phase. The Contract Holder must: • Select the Withdrawal Amount: • Full Withdrawal: The Contract Holder will receive, reduced by any required tax, the Account Value allocated to the Subaccounts, the Guaranteed Accumulation Account (plus or minus any applicable market value adjustment) and the Fixed Account, minus any applicable early withdrawal charge, annual maintenance fee and redemption fees; or • Partial Withdrawal (Percentage or Specified Dollar Amount): The Contract Holder will receive, reduced by any required tax, the amount specified, subject to the value available in the account. However, the amount actually withdrawn from the account will be adjusted by any applicable early withdrawal charge or redemption fees and any positive or negative market value adjustment for amounts withdrawn from the Guaranteed Accumulation Account; • Select Investment Options. If not specified, we will withdraw dollars in the same proportion as the values you hold in the various investment options from each investment option in which you have an Account Value; and • Properly complete a disbursement form and submit it to Customer Service. For amounts withdrawn from Account Value allocated to the Subaccounts, we will redeem the nu...
Subsequent Purchase Payments. If all or a portion of initial Purchase Payments are directed to the Subaccounts, they will purchase Subaccount Accumulation Units at the Accumulation Unit Value next computed after our acceptance of the applicable application or enrollment forms, as described in “CONTRACT PURCHASE AND PARTICIPATION” in the full prospectus for the Contract. Subsequent Purchase Payments or transfers directed to the Subaccounts that we receive in Good Order by the close of business of the New York Stock Exchange (“NYSE”) (normally at 4:00 p.m. Eastern Time) will purchase Subaccount Accumulation Units at the Accumulation Unit Value computed as of the close of the NYSE on that day. The value of Subaccounts may vary day to day. Subsequent Purchase Payments and transfers received in Good Order after the close of the NYSE will purchase Accumulation Units at the Accumulation Unit Value computed as of the close of the NYSE on the next business day.
Subsequent Purchase Payments. Cumulative Purchase Payments after the first Contract Year are limited to the Maximum Additional Purchase Payments shown in the Rider Specifications, without our consent. Purchase Payments are allocated to the Guaranteed Interest Options and/or the Sub-Accounts as you direct, subject to the provisions in the Contract Value Allocation Options section. ICC13-70257 Minnesota Life 2 MINIMUM CONTRACT VALUE Any provision in your contract requiring there be a minimum Contract Value as of the date of any withdrawal is waived while this rider is in effect.
Subsequent Purchase Payments. Subject to the minimum subsequent and maximum total shown on the Contract Schedule, the Contract Owner may make subsequent Purchase Payments. Allocation Of Purchase Payments The allocation of the initial Net Purchase Payment is made in accordance with the selection made by the Contract Owner at the time the Contract is issued. Unless otherwise changed by Written Request by the Contract Owner, subsequent Net Purchase Payments are allocated in the same manner as the initial Net Purchase Payment. Allocation of the Net Purchase Payments is subject to the Allocation Guidelines shown on the Contract Schedule. The Company has reserved the right to allocate initial Purchase Payments to the Money Market Sub-Account until the expiration of the Right to Examine Contract period.
Subsequent Purchase Payments. Any Subsequent Purchase Payments must be received within the allowable Number of Days to Receive Subsequent Purchase Payments from Pacific Life Initiated Transfers shown on the Contract Specifications page. A single Purchase Payment or the aggregate of all Purchase Payments may not exceed the Maximum Aggregate Purchase Payment Amount without Pacific Life Home Office Approval. The aggregate Purchase Payments are based on all the Contracts for which you are either Owner and/or Annuitant.
Subsequent Purchase Payments. Subject to the minimum subsequent and maximum total shown on the Certificate Schedule, the Participant may make subsequent Purchase Payments.
Subsequent Purchase Payments. You may make Subsequent Purchase Payments before the Annuity Date, while the Owner or Annuitant is living and this Contract is active. A single Purchase Payment or the aggregate of all Purchase Payments may not exceed the Maximum Aggregate Purchase Payment Amount Without Pacific Life Home Office Approval. The aggregate Purchase Payments are based on all the Contracts for which you are either owner and/or annuitant.