The Accumulation Value Sample Clauses

The Accumulation Value. On the Contract Date, the Contract’s Accumulation Value equals the Initial Premium paid less any premium tax, if applicable. At any time after the Contract Date, the Contract’s Accumulation Value equals the sum of the Accumulation Value for each Allocation of Premium and Reallocation to a Strategy and associated Index, where applicable. The Accumulation Value for each Strategy and Index is calculated separately as set forth in Section 5 of this Contract.
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The Accumulation Value. In the case where a death benefit "step-up" is credited to the Accumulation Value under: a.) spousal continuation, the Net Amount at Risk shall be the "step-up" amount. Reinsurance coverage shall continue after such reimbursement, with the Net Amount at Risk calculated as above. b.) non-spousal continuation, the Net Amount at Risk shall be the "step-up" amount. Reinsurance coverage will terminate after such reimbursement. EXHIBIT A MGDB BENEFIT
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The Accumulation Value. On the Contract Date, the Accumulation Value of this Contract equals the Single Premium paid less any premium tax, if applicable. At the end of each day thereafter, the Accumulation Value for this Contract will equal: (1) the Accumulation Value as of the end of the preceding day, plus (2) the interest, if any, pursuant to the Guarantee Period Interest Rate to be credited from the end of the previous day to the end of the current day, minus (3) the amount of any Withdrawals or Surrender, adjusted for any applicable Market Value Adjustment as set forth in Section 5.4 and less any applicable Surrender Charge as set forth in Section 5.5, at the end of the current day on which the Withdrawal is taken or a Surrender occurs.
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The Accumulation Value. The Step-Up Benefit (as defined below), plus Purchase Payments made, less withdrawals (and charges associated with such withdrawals) since the last Step-Up Anniversary (as defined below). Form 15208-95 The Step-Up Benefit at issue is the initial Purchase Payment. As of each Step-Up Anniversary, the then current Accumulation Value is compared to the prior Step-Up Benefit increased by Purchase Payments made, less withdrawals (and charges associated with such withdrawals) since the last Step-Up Anniversary. The greater of these becomes the new Step-Up Benefit. The Step-Up Anniversaries are every 6th Contract Anniversary for the duration of the Contract (i.e., the 6th, 12th, 18th, etc.). The amount payable to the Beneficiary is the Enhanced Death Benefit as calculated above minus any taxes incurred but not deducted. ANNUITY PAYMENTS ELECTION AND CHANGES OF ANNUITY DATE The Annuity Date may be elected on your application, but may not be earlier than the second Contract Anniversary. If no Annuity Date is elected in the application, the Annuity Date will be the first day of the month following the Annuitant's 85th birthday or on the first day of the month following the tenth Contract Anniversary, whichever occurs later. You may change the Annuity Date at any time prior to 60 days prior to the Annuity Date currently elected by Written Notice. ELECTION AND CHANGES OF ANNUITY PAYMENT OPTION The Owner elects the Annuity Payment Option. Once elected, the Owner may change the Annuity Payment Option at any time prior to the Annuity Date. In selecting an Annuity Payment Option, the Owner must determine whether the payments will be variable or fixed in amount. If variable, the Owner must determine from which Subaccounts variable Annuity Payments are to be made. The Owner may select a combination of fixed and variable payments as described below. If the Owner has not chosen an Annuity Payment Option and if the Annuitant is living on the Annuity Date, then:
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The Accumulation Value. The Accumulation Value of this Contract is the sum of the Accumulation Values in each of the Sub- accounts. Each Sub-account is valued at the close of each Business Day for the preceding Valuation Period. On the Contract Date, the Accumulation Value in each Sub-account equals the Initial Premium allocated to that Sub-account, less premium tax if applicable. (1) We start with the Accumulation Value in the Sub-account at the close of the preceding Business Day. (2) We multiply (1) by the Sub-account’s Net Return Factor, explained below, for the current Valuation Period. (3) We add or subtract transfers to or from that Sub-account during the current Valuation Period. (4) We subtract from (3) any Withdrawals during the current Valuation Period. (5) We subtract from (4) any charges, other than daily charges, or applicable taxes including any premium taxes not previously deducted, allocated to that Sub-account for any deductions from Accumulation Value as shown in the Contract Schedule. Sub-account’s Net Return Factor The Net Return Factor for each Sub-account is calculated as follows: (1) We take the net asset value of the Investment Portfolio in which the Sub-account invests at the close of the current Business Day. (2) We add to (1) the amount of any dividend or capital gains distribution declared for the Investment Portfolio and reinvested in such Investment Portfolio during the current Valuation Period. (3) We divide (2) by the net asset value of the Investment Portfolio at the close of the preceding Business Day. (4) We subtract the daily mortality & expense risk charge set forth in the Contract Schedule for each Sub- account for each day in the current Valuation Period. Calculations for Sub-accounts investing in unit investment trusts are on a per unit basis.
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The Accumulation Value. The Accumulation Value of this Contract is the sum of the Accumulation Values in each of the Sub-
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The Accumulation Value. The Accumulation Value of this Contract is the sum of the Accumulation Values in each of the variable sub-accounts. Each variable sub-account is valued at the close of each Business Day for the preceding Valuation Period. On the Contract Date, the Accumulation Value in each variable sub-account equals the Initial Premium allocated to that variable sub-account, less premium tax if applicable. ICC10 IU-IA-4027 11 At the close of each Business Day thereafter, the Accumulation Value in each variable sub-account is calculated as follows: (1) We start with the Accumulation Value in the variable sub-account at the close of the preceding Business Day. (2) We multiply (1) by the variable sub-account’s Net Return Factor, explained below, for the current Valuation Period. (3) We add to (2) any Additional Premium accepted, less premium taxes if applicable, to the variable sub-account during the current Valuation Period. (4) We add or subtract transfers to or from that variable sub-account during the current Valuation Period. (5) We subtract from (4) any Withdrawals during the current Valuation Period. (6) We subtract from (5) any charges, other than daily charges, or applicable taxes including any premium taxes not previously deducted, allocated to that variable sub-account for any deductions from Accumulation Value as shown in the Contract Schedule.
Sample 1
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The Accumulation Value. On the Policy Date, the Accumulation Value equals: o The first Net Premium paid; minus o The Monthly Deduction for the first Policy Month. After the Policy Date, the Accumulation Value equals the sum of the amounts in the Investment Options. The Accumulation Value in the Variable Account is the sum of the Accumulation Values in each of the Variable Options chosen. The Accumulation Value in each Variable Option is equal to the Accumulation Unit value for that Variable Option multiplied by the Accumulation Units in that Variable Option. The Accumulation Value in the Fixed Account on any specified date is equal to (a) plus (b) plus (c) minus (d) minus (e) where: (a) Is the Accumulation Value in the Fixed Account on the last Monthly Anniversary Date, plus interest from the Monthly Anniversary Date to the specified date; (b) Is any Net Premiums credited to and any transfers made to the Fixed Account since the last Monthly Anniversary Date, plus interest from the date of the Net Premiums or transfer to the specified date; (c) Is any Policy loan amounts transferred from the Variable Account since the last Monthly Anniversary Date, plus interest from the date of the loan to the specified date; (d) Is any transfers from the Fixed Account to the Variable Account since the last Monthly Anniversary Date, plus interest from the date of the transfer to the specified date; (e) Is the Gross Partial Surrender Amounts from the Fixed Account since the last Monthly Anniversary Date, plus interest from the date of the surrender to the specified date. If the specified date is a Monthly Anniversary Date, the Accumulation Value is reduced by the Monthly Deduction deducted from the Fixed Account. The guaranteed interest rate applied in the calculation of the Accumulation Value in the Fixed Account is specified in the Schedule Page. Interest in excess of the guaranteed rate may be applied to the Unloaned Accumulation Value in the Fixed Account.
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Related to The Accumulation Value

  • Maximum Accumulation An employee may accumulate earned leave, excluding the separate vacation balance, if any, to a maximum of twice their annual time management accumulation. As of the end of the pay period in which March 31 falls in each year, any employee credited with accrued leave greater than twice their annual leave accumulation shall forfeit that amount above their maximum accumulation. An employee who has acquired the maximum allowable accumulation of earned leave may continue to accumulate earned leave for the balance of the year in which the maximum accrual was reached, provided, however, that the employee must reduce the accumulation to the maximum allowable prior to the following March 31 or forfeit the excess.

  • Variable Accumulation Period The Controlled Accumulation Period is scheduled to commence on the Stated Controlled Accumulation Period Commencement Date; provided, however, that if the Controlled Accumulation Period Length (determined as described below) on any Determination Date is different from the Initial Scheduled Controlled Accumulation Period Length, the Servicer, at its option on any Determination Date prior to the commencement of the Controlled Accumulation Period, may elect to modify the date on which the Controlled Accumulation Period actually commences to the last Business Day of any Due Period that precedes the Due Period that is the number of Due Periods prior to the Expected Final Payment Date equal to the Controlled Accumulation Period Length. Such election will be set forth in the Monthly Servicer Certificate. If the Servicer elects to modify the date on which the Controlled Accumulation Period commences pursuant to this Section 19, then on each Determination Date thereafter until the date on which the Controlled Accumulation Period commences the Servicer will recalculate the Controlled Accumulation Period Length; provided, however, that (i) the length of the Controlled Accumulation Period will not be less than the Minimum Controlled Accumulation Period Length and (ii) notwithstanding any other provision of this Series Supplement to the contrary, no election to postpone the commencement of the Controlled Accumulation Period shall be made after a Rapid Amortization Event (as described herein or in the applicable Series Supplement) shall have occurred for so long as it is continuing with respect to any Series in the Group to which the Series established hereby belongs. On each Determination Date, the Servicer will determine the "Controlled Accumulation Period Length" that will equal the number of Due Periods such that the Class Controlled Accumulation Amount for the Due Period related to the Class Expected Final Payment Date, when aggregated with the Class Controlled Accumulation Amounts for each preceding Due Period, will equal or exceed the Series Initial Investor Interest. Any notice by the Servicer electing to modify the commencement of the Controlled Accumulation Period pursuant to this Section 19 shall specify the following as determined on such Determination Date: (i) the Controlled Accumulation Period Length; (ii) the commencement date of the Controlled Accumulation Period; and (iii) the Class Controlled Accumulation Amount with respect to each class of such Series with respect to each Due Period. If the Controlled Accumulation Period Length as recalculated on any such Determination Date exceeds the number of full Due Periods following such Determination Date and preceding the Class A Expected Final Payment Date, the commencement date of the Controlled Accumulation Period will be such Determination Date.

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Subaccount for the Class A( - ) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit minus any amount on deposit in the Accumulation Reserve Subaccount for the Class A( - ) Notes.]

  • Controlled Accumulation Period The Controlled Accumulation Period is scheduled to commence at the beginning of business on the Controlled Accumulation Date. On each Determination Date until the Controlled Accumulation Date, the Issuer shall review the amount of expected Principal Collections and determine the Controlled Accumulation Period Length; provided, that if the Controlled Accumulation Period Length (determined as described below) on any Determination Date is less than or more than the number of months in the scheduled Controlled Accumulation Period, upon written notice to the Indenture Trustee, with a copy to each Rating Agency, the Issuer shall either postpone or accelerate, as applicable, the Controlled Accumulation Date, so that as a result, the number of Monthly Periods in the Controlled Accumulation Period will equal the Controlled Accumulation Period Length; provided, that the length of the Controlled Accumulation Period will not be less than one (1) month. The “Controlled Accumulation Period Length” will mean a number of whole months such that the amount available for payment of principal on the Notes and the reduction of the Principal Overcollateralization Amount on the Expected Principal Payment Date is expected to equal or exceed the Note Principal Balance plus the Principal Overcollateralization Amount, assuming for this purpose that (1) the weighted average principal payment rate on the Receivables held by the Issuer will be no greater than the lowest weighted average monthly principal payment rate for the Receivables held by the Issuer for the prior twelve (12) Monthly Periods, (2) the total amount of Principal Receivables held by the Issuer in the Trust (and the principal amount on deposit in the Excess Funding Account, if any) remains constant at the level on such date of determination, (3) no Early Amortization Event with respect to any Series will subsequently occur and (4) no additional Series (other than any Series being issued on such date of determination) will be subsequently issued by the Issuer. Any notice by the Issuer modifying the commencement of the Controlled Accumulation Period pursuant to this Section 4.12 shall specify (i) the Controlled Accumulation Period Length and (ii) the commencement date of the Controlled Accumulation Period.

  • ACCUMULATION UNITS The interest of this contract in the Separate Account, prior to the date on which amounts become payable under a payment plan, is represented by Accumulation Units. The dollar value of Accumulation Units for each Division will increase or decrease to reflect the investment experience of the Division. The value of an Accumulation Unit on any Valuation Date is determined by multiplying: - the value on the immediately preceding Valuation Date; by - the Net Investment Factor for the period from the immediately preceding Valuation Date up to and including the current Valuation Date (the current period).

  • Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including these notes) and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries.

  • Sick Leave Accumulation (a) An employee is eligible to accumulate sick leave with full pay at the rate of 16 working hours for each 173 1/3 hours of service. (b) The maximum number of days of sick leave which may be awarded to an employee during any consecutive twenty (20) year period of service shall not exceed 3840 hours.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains the existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation. 2. If the employee chooses to vacate the position or does not meet the skills and abilities requirements of the position, the layoff procedure specified in Article 31 of this Agreement applies.

  • Allocations During the Controlled Accumulation Period During the Controlled Accumulation Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 1997-1 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 1997-1 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date (such product for any such date, a "Percentage Allocation") shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that if the sum of such Percentage Allocation and all preceding Percentage Allocations with respect to the same Monthly Period exceeds the Controlled Deposit Amount for the related Distribution Date, then such excess shall not be treated as a Percentage Allocation and shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such Deposit Date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Original Class A Percentage The Original Class A Percentage is 96.09547893%

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