SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS Sample Clauses

SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS. FROM THE DCA FIXED ACCOUNT LNY reserves the right to defer payment for a withdrawal, surrender or transfer from the DCA Fixed Account for the period permitted by law but for not more than six (6) months after Notice is received by LNY. If any payment is deferred by more than 10 working days, interest will be paid as required by New York Insurance Law using an interest rate no less than the interest rate currently paid under the interest settlement option.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS. 10.01 SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS FROM OR WITHIN THE VARIABLE ACCOUNT LNY reserves the right to suspend or postpone payments for a transfer, withdrawal or surrender for any period when: 1. the New York Stock Exchange is closed (other than customary weekend and holiday closings); 2. trading on the New York Stock Exchange is restricted; 3. an emergency exists as a result of which disposal of securities held in the Variable Account is not reasonably practicable or it is not reasonably practicable to determine the value of the Variable Account's net assets; or 4. during any other period when the Securities and Exchange Commission, by order, so permits for the protection of the Owner. The applicable rules and regulations of the Securities and Exchange Commission will govern as to whether the conditions described in (2) and (3) exist.
Sample 1Sample 2Sample 3See All (6)
SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS. We may suspend or postpone payments of any amount due under this Contract where permitted under applicable federal or state laws, rules or regulations. We may suspend or defer payments or transfers from the Separate Account under this Contract in the event that: (a) the New York Stock Exchange is closed for business, other than normal weekend and holiday closings; (b) trading on the New York Stock Exchange is restricted; (c) an emergency exists such that it is not reasonably practical to dispose of securities in the Separate Account or to determine the value of its assets; (d) the Securities and Exchange Commission by order so permits for Your protection; (e) the payment is derived from a check used to pay a Premium which has not cleared through the banking system; or (f) the transfer is subject to limitations as described in Section 5.2. Conditions (b), (c) and (d) will be decided by or in accordance with rules of the Securities and Exchange Commission.
Sample 1Sample 2
SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS. FROM THE VARIABLE ACCOUNT 9.01 SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS FROM OR WITHIN THE VARIABLE ACCOUNT a. the New York Stock Exchange is closed (other than customary weekend and holiday closings); b. trading on the New York Stock Exchange is restricted; c. an emergency exists as a result of which disposal of securities held in the Variable Account is not reasonably practicable or it is not reasonably practicable to determine the value of the Variable Account's net assets; or d. during any other period when the Securities and Exchange Commission, by order, so permits for the protection of the Owner. The applicable rules and regulations of the Securities and Exchange Commission will govern as to whether the conditions described in (2) and (3) exist.
Sample 1Sample 2
SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS. 18 CONTRACT SCHEDULE (STANDARD CLASS) OWNER: [Xxxx Xxx] SEX: [M] AGE AT ISSUE: [50]
Sample 1
SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS. 18 CONTRACT SCHEDULE Insert Contract Schedule Pages DEFINITIONS ACCOUNT BALANCE - The sum of your interests in the Investment Divisions of the Separate Account (and your interests in any other accounts that may be included by Xxxxx and shown on the Contract Schedule) during an Accumulation Period. ACCUMULATION PERIOD - A period prior to an Annuity Date during which you can make Purchase Payments. ADMINISTRATIVE OFFICE - The office indicated on the Contract Schedule to which notices, requests and Purchase Payments must be sent, or as otherwise directed by notice from us. ANNUITANT - The natural person(s) on whose life Income Payments are based. Any reference to Annuitant shall also include any Joint Annuitant under an Annuity Option. ANNUITY DATE - A date on which you choose to begin receiving Income Payments. If you do not choose a date an Annuity Date will be no later than the Maturity Date shown on the Contract Schedule. ANNUITY UNIT - A unit of measure used to calculate Variable Income Payments after an Annuity Date. ATTAINED AGE - The age of any Owner, Beneficiary or Annuitant on his/her last birthday. BENEFICIARY - The person(s) you name to receive a death benefit payable under this Contract upon the death of the Owner or a Joint Owner, or in certain circumstances, an Annuitant. BUSINESS DAY - Each day that the New York Stock Exchange is open for business. The Separate Account will be valued each Business Day. A Business Day ends as of the close of regular trading on the New York Stock Exchange.
Sample 1
SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS. We may suspend or postpone payments of any amount due under this Contract where permitted under applicable federal or state laws, rules or regulations. We may suspend or defer payments or transfers from the Separate Account under this Contract in the event that: (a) the New York Stock Exchange is closed for business, other than normal weekend and holiday closings; (b) trading on the New York Stock Exchange is restricted; (c) an emergency exists such that it is not reasonably practical to dispose of securities in the Separate Account or to determine the value of its assets; (d) the Securities and Exchange Commission by order so permits for Your protection; (e) the payment is derived from a check used to pay a Premium which has not cleared through the banking system; or (f) the transfer is subject to limitations as described in Section 5.2. Conditions (b), (c) and (d) will be decided by or in accordance with rules of the Securities and Exchange Commission. We reserve the right, at our option, to defer any payments in accordance with the deferment provisions of the Investment Company Act of 1940, as amended. We will add interest from the date of our receipt of a completed request to the date of payment if such payment is not made within 10 days following receipt of the completed request. The rate of interest will not be less than 3% per year.
Sample 1
AutoNDA by SimpleDocs

Related to SUSPENSION OR DEFERRAL OF PAYMENTS OR TRANSFERS

  • Deferral of Payments The Executive shall have the right to elect to defer the Post-Change in Control Severance Payment to be received by the Executive pursuant to this Section 6 under the terms and conditions of the Deferred Compensation Plan. Any such deferral election shall be made in accordance with Section 18(b) hereof.

  • Suspension of Payments This Grant Agreement may be subject to suspension of payments or termination, or both if the State determines that: A. The Grantee, its contractors, or subcontractors have made a false certification, or B. The Grantee, its contractors, or subcontractors violates the certification by failing to carry out the requirements noted in this Grant Agreement.

  • Restrictions to Safeguard the Balance of Payments 1. The Parties shall endeavour to avoid the imposition of restrictions to safeguard the balance of payments. 2. The rights and obligations of the Parties in respect of such restrictions shall be governed by paragraphs 1 to 3 of Article XII of the GATS, which are hereby incorporated into and made part of this Chapter, mutatis mutandis. 3. A Party adopting or maintaining such restrictions shall promptly notify the Joint Committee.

  • Suspension of Service (a) SORACOM may suspend provision of the SORACOM Private Network Service if: (i) there are unavoidable reasons requiring maintenance or construction of SORACOM’s Telecommunications Facility or system; (ii) a telecommunication carrier suspends provision of telecommunication services to SORACOM; (iii) a cloud service provider suspends provision of cloud services to SORACOM; or (iv) SORACOM changes the Subscriber ID under Section 3.4(b). (b) If SORACOM suspends the provision of the SORACOM Private Network Service according Section 5.4(a), SORACOM will announce such suspension on SORACOM’s website in advance except in cases of urgent necessity.

  • Deferral of Compensation The Company shall implement deferral arrangements permitting Executive to elect to irrevocably defer receipt, pursuant to written deferral election terms and forms (the "Deferral Election Forms"), of all or a specified portion of (i) his annual base salary and annual incentive compensation under Section 4, (ii) long-term incentive compensation under Section 5(a), and (iii) shares acquired upon exercise of options granted in accordance with Sections 5(a) and (b) that are acquired in an exercise in which Executive pays the exercise price by the surrender of previously acquired shares, to the extent of the net additional shares acquired by Executive in such exercise; provided, however, that such deferrals shall not reduce Executive's total cash compensation in any calendar year below the sum of (i) the FICA maximum taxable wage base plus (ii) 1.45% of Executive's annual salary, annual incentive compensation and long-term incentive compensation in excess of such FICA maximum. In accordance with such duly executed Deferral Election Forms or the terms of any such mandatory deferral, the Company shall credit to one or more bookkeeping accounts maintained for Executive on the respective payment date or dates, amounts equal to the compensation subject to deferral, such credits to be denominated in cash if the compensation would have been paid in cash but for the deferral or in shares if the compensation would have been paid in shares but for the deferral. An amount of cash equal in value to all cash-denominated amounts credited to Executive's account and a number of shares of Common Stock equal to the number of shares credited to Executive's account pursuant to this Section 5(c) shall be transferred as soon as practicable following such crediting by the Company to, and shall be held and invested by, an independent trustee selected by the Company and reasonably acceptable to Executive (a "Trustee") pursuant to a "rabbi trust" established by the Company in connection with such deferral arrangement and as to which the Trustee shall make investments based on Executive's investment objectives (including possible investment in publicly traded stocks and bonds, mutual funds, real estate, and insurance vehicles) (the "Deferred Compensation Accounts"). Thereafter, Executive's deferral accounts will be valued by reference to the value of the assets of the Deferred Compensation Accounts. The Company shall pay all costs of administration of the deferral arrangement, without deduction or reimbursement from the assets of the "rabbi trust," or reduction in the Deferred Compensation Accounts. Except as otherwise provided under Section 7 in the event of Executive's termination of employment with the Company or as otherwise determined by the Committee in the event of hardship on the part of Executive, upon such date(s) or event(s) set forth in the Deferral Election Forms (including forms filed after deferral but before settlement in which Executive may elect to further defer settlement) or under the terms of any mandatory deferral, the Company shall promptly pay to Executive cash equal to the cash then credited to Executive's deferral accounts and cash equal in value to any shares of Common Stock then credited to Executive's deferral accounts, less applicable withholding taxes, and such distribution shall be deemed to fully settle such accounts; provided, however, that the Company may instead settle such accounts by directing the Trustee to distribute the assets of the "rabbi trust." The Company and Executive agree that compensation deferred pursuant to this Section 5(c) shall be fully vested and nonforfeitable; provided, however, Executive acknowledges that his rights to the deferred compensation provided for in this Section 5(c) shall be no greater than those of a general unsecured creditor of the Company, and that such rights may not be pledged, collateralized, encumbered, hypothecated, or liable for or subject to any lien, obligation, or liability of Executive, or be assignable or transferable by Executive, otherwise than by will or the laws of descent and distribution, provided that Executive may designate one or more beneficiaries to receive any payment of such amounts in the event of his death.

  • Deferral of Filing If a Demand Request is received and there is not an effective Shelf Registration Statement on file with the SEC, the Company may, upon prior written notice to the Holders, defer (but not more than once in any 12-month period) the filing (but not the preparation) of the Registration Statement for the Demand Offering for a reasonable period of time not to exceed 60 days after the Required Filing Date (or, if longer, 60 days after the filing date of the registration statement contemplated by clause (ii) below) if (i) at the time the Company receives the Demand Request, the Company or any of its subsidiaries is engaged in confidential negotiations or other confidential business activities, disclosure of which would be required in connection with such Registration Statement (but would not be required if such Registration Statement were not filed), and the Board of Directors determines in good faith that such disclosure would be materially detrimental to the Company and its stockholders (an “Adverse Disclosure”), or (ii) prior to receiving the Demand Request, the Board of Directors had determined to effect a Company Primary Offering pursuant to Section 2.3, and the Company had taken substantial steps (including, without limitation, selecting a managing underwriter for such offering) and is proceeding with reasonable diligence to effect such offering. A deferral of the filing of a Registration Statement pursuant to this Section 2.2.3 shall be lifted, and the Registration Statement shall be filed promptly, if, in the case of a deferral pursuant to clause (i) of the preceding sentence, the negotiations or other activities are disclosed or terminated, or, in the case of a deferral pursuant to clause (ii) of the preceding sentence, the proposed Company Primary Offering is completed or abandoned. In order to defer the filing of a Registration Statement pursuant to this Section 2.2.3, the Company shall promptly (but in any event within five (5) days), upon determining to seek such deferral, deliver to each Holder requesting inclusion of Registrable Shares in the Demand Offering a certificate signed by an executive officer of the Company stating that the Company is deferring such filing pursuant to this Section 2.2.3 and an approximation of the anticipated delay. On the 20th day after the Private Equity Holders have received such certificate, the Demand Request shall be deemed withdrawn automatically unless, prior to such 20th day, the Private Equity Holders deliver to the Company a written notice to the effect that they do not want the Demand Request to be withdrawn.

  • Suspension or Termination of Sales Consistent with standard market settlement practices, the Company or the Agent may, upon notice to the other party hereto in writing or by telephone (confirmed immediately by verifiable email), suspend any sale of Shares, and the period set forth in an Issuance Notice shall immediately terminate; provided, however, that (A) such suspension and termination shall not affect or impair either party’s obligations with respect to any Shares placed or sold hereunder prior to the receipt of such notice; (B) if the Company suspends or terminates any sale of Shares after the Agent confirms such sale to the Company, the Company shall still be obligated to comply with Section 3(b)(v) with respect to such Shares; and (C) if the Company defaults in its obligation to deliver Shares on a Settlement Date, the Company agrees that it will hold the Agent harmless against any loss, claim, damage or expense (including, without limitation, penalties, interest and reasonable legal fees and expenses), as incurred, arising out of or in connection with such default by the Company. The parties hereto acknowledge and agree that, in performing its obligations under this Agreement, the Agent may borrow Common Shares from stock lenders in the event that the Company has not delivered Shares to settle sales as required by subsection (v) above, and may use the Shares to settle or close out such borrowings. The Company agrees that no such notice shall be effective against the Agent unless it is made to the persons identified in writing by the Agent pursuant to Section 3(b)(i).

  • Suspension of Services We have the right to suspend the benefit of any Credit Union service at any time for reasonable cause. At Our discretion, We also have the right to pay any share draft presented for payment from Your Account after Your Account is closed or suspended and to recover such amount paid from You.

  • Limitation of Payments City’s obligation to pay the Consultant for services rendered pursuant to this Contract is conditioned upon the availability of City’s funds which are allocated to pay the Consultant. If funds are not allocated and available to pay the Consultant for these services, City may terminate this Contract at the end of the period for which the funds are available. City shall notify the Consultant at the earliest possible time if this agreement will or may be affected by a shortage of funds. No liability shall accrue to City in the event this provision is exercised, and the City shall not be obligated or liable for any future payments due or for any damages as a result of termination under this section. This provision shall not be construed so as to permit City to terminate this Contract in order to acquire similar services from another party. The Consultant shall be paid for any allowable services provided and expenses incurred prior to receipt of any such notification that City was terminating the Contract because of a shortage of funds.

  • Netting of Payments Subparagraph (ii) of Section 2(c) of this Agreement will apply to Transactions entered into under this Agreement unless otherwise specified in a Confirmation.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!