SYSTEMATIC WITHDRAWAL PROGRAM Sample Clauses

SYSTEMATIC WITHDRAWAL PROGRAM. Prior to the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic Withdrawals from Your Contract monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is shown on the Contract Data Page. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge as discussed in the WITHDRAWAL CHARGE and PENALTY-FREE WITHDRAWALS provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request.
Sample 1Sample 2Sample 3See All (18)
AutoNDA by SimpleDocs
SYSTEMATIC WITHDRAWAL PROGRAM. Prior to the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from Your Contract monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is $100, provided that the amount remaining after withdrawal is $500. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge as discussed in the WITHDRAWAL CHARGE and PENALTY-FREE WITHDRAWALS provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time. Systematic withdrawals will be deducted first from the Penalty-Free Withdrawal amount available each Contract Year.
Sample 1Sample 2Sample 3See All (14)
SYSTEMATIC WITHDRAWAL PROGRAM. Prior to the Annuity Date, You may elect to participate in the Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from Your account monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is [$100]. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge and/or a Market Value Adjustment as discussed in the WITHDRAWAL CHARGE, PENALTY-FREE WITHDRAWALS and MARKET VALUE ADJUSTMENT provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time. Systematic withdrawals will be deducted from the Penalty-Free Withdrawal amount available each Contract Year.
Sample 1Sample 2See All (10)
SYSTEMATIC WITHDRAWAL PROGRAM. A Planholder may elect to establish a systematic withdrawal program, after the Planholder has completed all regularly scheduled Plan investments or from an incomplete Plan if the withdrawals are to be taken from a Plan that is part of an XXX and the Planholder has reached age 59 1 2, but only in accordance with the terms and conditions of the applicable Prospectus. Under a systematic withdrawal program, the Planholder can elect to receive monthly or quarterly payments in any amount of $50 or more. To provide funds for payments to be made under a systematic withdrawal program, the Custodian, as agent for the Planholder, will redeem Fund Shares held in the Planholder's Plan Account at the net asset value in effect at the time of each such redemption. All systematic withdrawal program transactions will be made as of the end of the day specified for the withdrawal by the Planholder (or, if such day is not a business day, the first business day after that date). The Planholder may change the amount of payments under a systematic withdrawal program or discontinue the program at any time. While a systematic withdrawal program is in effect, the Planholder may not elect to receive dividends and distributions on Fund Shares held in his or her Plan account in cash.
Sample 1Sample 2
SYSTEMATIC WITHDRAWAL PROGRAM. Prior to the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from Your account monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is subject to Company limits. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Withdrawal Charge [and a Market Value Adjustment] as discussed in the WITHDRAWAL CHARGE and PENALTY-FREE WITHDRAWAL [and MARKET VALUE ADJUSTMENT] provisions. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time. Systematic withdrawals will be deducted from the Penalty-Free Withdrawal amount available each Contract Year. DEATH PROVISIONS Notwithstanding any provision of this Contract to the contrary, all payments of benefits under this Contract will be made in a manner that satisfies the requirements of IRC Section 72(s), as amended from time to time. If the Contract is owned by a trust or other non-natural person, We will treat the death of any Annuitant as the death of the "Primary Annuitant" and as the death of any Owner. DUE PROOF OF DEATH
Sample 1Sample 2
SYSTEMATIC WITHDRAWAL PROGRAM. You may have automatic withdrawals of a specified dollar amount made periodically. The total amount of these withdrawals in any contract year cannot exceed 10% of total premiums paid less any prior withdrawals during that contract year. We will make these withdrawals from the subaccounts in the same proportion as the value of each subaccount bears to the Contract Value. The minimum amount of each withdrawal and the remaining Contract Value after a withdrawal is shown in the Contract Schedule. The Systematic Withdrawal Program cannot extend beyond the Annuity Date.
Sample 1
SYSTEMATIC WITHDRAWAL PROGRAM. We offer a program that allows the Owner to pre-authorize scheduled periodic withdrawals on a monthly, quarterly, semi-annual or annual basis prior to the Annuitization Date. The Owner may specify (i) the day of the month (other than the 29th, 30th or 31st) on which the scheduled periodic withdrawal is to be made and (ii) the Systematic Withdrawal Option offered by the Company. In the event the Owner fails to select the frequency, we reserve the right to automatically default to monthly. We currently offer three (3) types of Systematic Withdrawal Options: (i) a fixed dollar amount determined by you, (ii) an annual percentage determined by you, or (iii) the annual Free Withdrawal as specified in this Certificate and determined by us. The minimum Systematic Withdrawal currently is $100.
Sample 1
AutoNDA by SimpleDocs
SYSTEMATIC WITHDRAWAL PROGRAM. Subject to applicable restrictions as shown on the Contract Data Page, you may elect to participate in a Systematic Withdrawal Program by providing a request that is received by us in Good Order. The Systematic Withdrawal Program allows you to make automatic Withdrawals. Any amount withdrawn through the Systematic Withdrawal Program may be subject to a Surrender Charge as discussed in the Surrender Charge and Free Withdrawal Amount provisions. You may terminate your participation in the Systematic Withdrawal Program at any time by providing a request that is received by us in Good Order. We will provide notice to you if we modify or terminate the Systematic Withdrawal Program. A Surrender Charge may not be assessed on a Withdrawal that was made as a distribution intended to satisfy the required minimum distribution rules under Internal Revenue Code (“IRC”) section 401(a)(9) and the Treasury Regulations promulgated thereunder, as applicable, to an Individual Retirement Account (IRC section 408(a)), an Individual Retirement Annuity (IRC section 408(b)), or a Xxxx XXX (IRC section 408A). For any Required Minimum Distributions to be considered as a Required Minimum Distribution for purposes of the Free Withdrawal Amount, all of the following requirements must be met: • the Owner must choose a Systematic Withdrawal Program authorizing the Company to calculate and pay the Required Minimum Distribution for the calendar year; • each Required Minimum Distribution is based solely on this Contract and is calculated based on information that the Owner provides to us and our understanding of the Tax Code and Treasury Regulations. We reserve the right to make changes in such calculations as we determine to be appropriate to comply with federal tax law; and • no Withdrawals (other than Required Minimum Distributions) in excess of the Free Withdrawal Amount are taken from the Contract during the Contract Year.
Sample 1
SYSTEMATIC WITHDRAWAL PROGRAM. On or before the Annuity Date, You may elect to participate in a Systematic Withdrawal Program by informing Us at Our Annuity Service Center. The Systematic Withdrawal Program allows You to make automatic withdrawals from Your account monthly, quarterly, semiannually or annually. The minimum systematic withdrawal amount is subject to Company limits. You may terminate Your participation in the Systematic Withdrawal Program at any time by sending Us a written request. We reserve the right to modify, suspend or terminate the Systematic Withdrawal Program at any time.
Sample 1

Related to SYSTEMATIC WITHDRAWAL PROGRAM

  • Withdrawal Events In the event of the death, retirement, withdrawal, expulsion, or dissolution of a Member, or an event of bankruptcy or insolvency, as hereinafter defined, with respect to a Member, or the occurrence of any other event which terminates the continued membership of a Member in the Company pursuant to the Statutes (each of the foregoing being hereinafter referred to as a “Withdrawal Event”), the Company shall terminate sixty days after notice to the Members of such withdrawal Event unless the business of the Company is continued as hereinafter provided. Notwithstanding a Withdrawal Event with respect to a Member, the Company shall not terminate, irrespective of applicable law, if within aforesaid sixty day period the remaining Members, by the unanimous vote or consent of the Members (other than the Member who caused the Withdrawal Event), shall elect to continue the business of the Company. In the event of a Withdrawal Event with respect to an Member, any successor in interest to such Member (including without limitation any executor, administrator, heir, committee, guardian, or other representative or successor) shall not become entitled to any rights or interests of such Member in the Company, other than the allocations and distributions to which such Member is entitled, unless such successor in interest is admitted as a Member in accordance with this Agreement. An “event of bankruptcy or insolvency” with respect to a Member shall occur if such Member:

  • Early Withdrawal Penalty Unless provided otherwise in the Disclosures, we will assess an early withdrawal penalty on any withdrawal, either partial or in whole, that we allow you to make from your account prior to the account's maturity date. The method for determining that penalty is described in the Disclosures.

  • Withdrawal of Services 50.1 Notwithstanding anything contained in this Agreement, except as otherwise required by Applicable Law, Verizon may terminate its offering and/or provision of any Service under this Agreement upon thirty (30) days prior written notice to CBB. 50.2 Notwithstanding anything contained in this Agreement, except as otherwise required by Applicable Law, Verizon may with thirty (30) days prior written notice to CBB terminate any provision of this Agreement that provides for the payment by Verizon to CBB of compensation related to traffic, including, but not limited to, Reciprocal Compensation and other types of compensation for termination of traffic delivered by Verizon to CBB. Following such termination, except as otherwise agreed in writing by the Parties, Verizon shall be obligated to provide compensation to CBB related to traffic only to the extent required by Applicable Law. If Verizon exercises its right of termination under this Section, the Parties shall negotiate in good faith appropriate substitute provisions for compensation related to traffic; provided, however, that except as otherwise voluntarily agreed by Verizon in writing in its sole discretion, Verizon shall be obligated to provide compensation to CBB related to traffic only to the extent required by Applicable Law. If within thirty (30) days after Verizon’s notice of termination the Parties are unable to agree in writing upon mutually acceptable substitute provisions for compensation related to traffic, either Party may submit their disagreement to dispute resolution in accordance with Section 14 of this Agreement.

  • Withdrawal from Agreement A. Any Fund may elect to withdraw from this Agreement effective at the end of any monthly period by giving at least 90 days’ prior written notice to each of the parties to this Agreement. Upon the written demand of all other Funds which are parties to this Agreement a Fund shall withdraw, and in the event of its failure to do so shall be deemed to have withdrawn, from this Agreement; such demand shall specify the date of withdrawal which shall be at the end of any monthly period at least 90 days from the time of service of such demand. B. In the event of the withdrawal of any Fund from this Agreement, all its rights and obligations, except for lease commitments, under this Agreement (except such rights or obligations as have accrued prior to the date of withdrawal) shall terminate as of the date of the withdrawal. The withdrawing Fund shall surrender its Shares to Service Company, and (1) shall be entitled to receive from Service Company an amount equal to the excess of the fair value of (i) its Shares of other securities Service Company as of the date of its withdrawal less (ii) its proportionate interest in any liabilities of Service Company, including when appropriate any commitments of Service Company and unexpired leases at the date of withdrawal; (2) shall be obligated to pay Service Company an amount equal to the excess of (ii) over (i). Such amount to be received from or paid to Service Company shall be determined by the favorable vote of the holders of a majority of the Shares whose determination shall be conclusive upon the Funds. Any amount found payable by the Service Company to the withdrawing Fund shall be recoverable by Service Company from the Funds remaining under this Agreement in accordance with the provisions of Section 1.2, 1.3 and 1.4 hereof.

  • No Withdrawal No Person shall be entitled to withdraw any part of such Person’s Capital Contribution or Capital Account or to receive any Distribution from the Company, except as expressly provided in this Agreement.

  • Withdrawal Conditions; Withdrawal Period 1. Notwithstanding the provisions of Part A of this Section, no withdrawal shall be made for payments made prior to the date of this Agreement. 2. The Closing Date is June 30, 2013.

  • Withdrawal of Partners (a) Any Partner may Withdraw voluntarily from the Partnership subject to the prior written consent of the General Partner, including if such Withdrawal would (i) cause the Partnership to be in default under any of its contractual obligations or (ii) in the reasonable judgment of the General Partner, have a material adverse effect on the Partnership or its business. Without limiting the foregoing sentence, the General Partner generally intends to permit voluntary Withdrawals on the last day of any calendar month (or on such other date as shall be determined by the General Partner in its sole discretion), on not less than 15 days’ prior written notice by such Partner to the General Partner (or on such shorter notice period as may be mutually agreed upon between such Partner and the General Partner); provided, that a Partner may Withdraw from the Partnership with respect to such Partner’s GP-Related Partner Interest without Withdrawing from the Partnership with respect to such Partner’s Capital Commitment Partner Interest, and a Partner may Withdraw from the Partnership with respect to such Partner’s Capital Commitment Partner Interest without Withdrawing from the Partnership with respect to such Partner’s GP-Related Partner Interest. (b) Upon the Withdrawal of any Partner, including by the occurrence of any withdrawal event under the Partnership Act with respect to any Partner, such Partner shall thereupon cease to be a Partner, except as expressly provided herein. (c) Upon the Total Disability of a Limited Partner, such Partner shall thereupon cease to be a Limited Partner with respect to such person’s GP-Related Partner Interest; provided, that the General Partner may elect to admit such Withdrawn Partner to the Partnership as a Nonvoting Special Partner with respect to such person’s GP-Related Partner Interest, with such GP-Related Partner Interest as the General Partner may determine. The determination of whether any Partner has suffered a Total Disability shall be made by the General Partner in its sole discretion after consultation with a qualified medical doctor. In the absence of agreement between the General Partner and such Partner, each party shall nominate a qualified medical doctor and the two doctors shall select a third doctor, who shall make the determination as to Total Disability. (d) If the General Partner determines that it shall be in the best interests of the Partnership for any Partner (including any Partner who has given notice of voluntary Withdrawal pursuant to paragraph (a) above) to Withdraw from the Partnership (whether or not Cause exists) with respect to such person’s GP-Related Partner Interest and/or with respect to such person’s Capital Commitment Partner Interest, such Partner, upon written notice by the General Partner to such Partner, shall be required to Withdraw with respect to such person’s GP-Related Partner Interest and/or with respect to such person’s Capital Commitment Partner Interest, as of a date specified in such notice, which date shall be on or after the date of such notice. If the General Partner requires any Partner to Withdraw for Cause with respect to such person’s GP-Related Partner Interest and/or with respect to such person’s Capital Commitment Partner Interest, such notice shall state that it has been given for Cause and shall describe the particulars thereof in reasonable detail. (e) The Withdrawal from the Partnership of any Partner shall not, in and of itself, affect the obligations of the other Partners to continue the Partnership during the remainder of its term. A Withdrawn General Partner shall remain liable for all obligations of the Partnership incurred while it was a General Partner and resulting from its acts or omissions as a General Partner to the fullest extent provided by law.

  • Withdrawal Before Bidding 7.1. Registered E-Bidders, who have completed the 10% deposit payment, are entitled to withdraw from the auction at least one (1) working day before the auction date by 5.00 pm. 7.2. The 10% deposit will be refunded back to the E-Bidders within three (3) working days via online banking.

  • Early Withdrawal Provisions We will impose a penalty if You withdraw any of the principal funds before the maturity date. The penalty imposed will equal the sum of the $25.00 administrative fee plus 180 days of dividends on the amount withdrawn. Renewal Policies. Your Account will renew automatically upon maturity and You will have a seven-calendar-day grace period immediately following the maturity of Your Account during which You may make withdrawals from Your Account without penalty.

  • Withdrawal of Grievance A grievance may be withdrawn at any level without establishing a precedent.

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