The Cash Surrender Value Sample Clauses

The Cash Surrender Value. If the Owner's Issue Age is greater than 67 but less than or equal to 75, the Death Benefit is the greatest of: (1) The sum of premium payments less any withdrawals and taxes; (2) The Accumulation Value less any taxes; (3) The Accumulation Value (plus subsequent premiums less subsequent withdrawals and taxes) on the 8th Contract anniversary but on or before the Owner's death; or (4) The Cash Surrender Value. 3D2 THE SCHEDULE CONTRACT FACTS (continued) ------------------------------------------------------------------------------ Annuitant Owner [XXXXXX X. XXX] [XXXX X. XXX] ------------------------------------------------------------------------------ Initial Premium Annuity Option Annuity Commencement Date [$10,000] [LIFE 10-YEAR CERTAIN] [JANUARY 1, 2026] ------------------------------------------------------------------------------ Separate Account(s) Contract Number [SEPARATE ACCOUNT B AND THE FIXED ACCOUNT] [123456] ------------------------------------------------------------------------------ If the Owner's Issue Age is greater than 75: The Death Benefit is equal to the greater of Accumulation Value or Cash Surrender Value.] CHANGE OF OWNER When ownership changes, the death benefit must be redetermined. If the new Owner's age at the time of the change of Owner is less than or equal to the original Owner's Issue Age, then the death benefit in effect prior to the change of Owner will remain in effect. If the new Owner's age at the time of the change of Owner is greater than the original Owner's Issue Age, then the death benefit must be recalculated based on a new Owner's Issue Age equal to the new Owner's age at the time of the change of Owner. The new Owner's death will then determine when a death benefit is payable. CHOOSING AN INCOME PLAN
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The Cash Surrender Value. The Cash Surrender Value of this Contract equals the greater of: (1) The Minimum Guaranteed Contract Value (as defined in the Contract Schedule); or (2) The Accumulation Value, less any Surrender Charge.
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The Cash Surrender Value. If the Owner's Issue Age is greater than 67 but less than or equal to 75, the Death Benefit is the greatest of:
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The Cash Surrender Value. This report will also provide a summary of transactions made during the previous Contract Year and any information required by law. ATTAINED AGE. The Attained Age of the Annuitant on any date is the Issue Age of the Annuitant shown in the Data Section plus the number of full Policy Years which have passed since the Date of Issue. The Attained Age of the Owner on any date is the Issue Age of the Owner shown in the Data Section plus the number of full Policy Years which have passed since the Date of Issue.
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The Cash Surrender Value. If the Owner's Issue Age is greater than 67 but less than or equal to 75, the Death Benefit is the greatest of: (1) The sum of Premium Payments less any withdrawals and taxes; (2) The Accumulation Value less any taxes: GA-IA-1075 3D3 THE SCHEDULE CONTRACT FACTS (continued) ------------------------------------------------------------------------------- |--------------------------------------------------------------------------| | Annuitant Owner | | [XXXXXX X. XXX] [XXXX X. XXX] | |--------------------------------------------------------------------------| | Initial Premium Annuity Option Annuity Commencement Date| | [$10,000] [LIFE 10-YEAR CERTAIN] [JANUARY 1, 2026] | |--------------------------------------------------------------------------| | Separate Account(s) Contract Number | | [SEPARATE ACCOUNT B] [123456] | |--------------------------------------------------------------------------| (3) The Accumulation Value (plus subsequent premiums less subsequent withdrawals and taxes) on the 8th Contract anniversary but on or before the Owner's death; or
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The Cash Surrender Value the current death benefit; .. any existing Policy Debt; .. transactions that occurred during the policy year; .. changes in the Guideline Premiums, if applicable; and .. any information required by law. In addition to the above reports, an annual report will also be mailed to you. The report will contain financial statements for the Separate Account and the designated investment company or companies or other designated portfolio(s) in which the Separate Account invests, the latter of which will include a list of the portfolio securities of the investment company, as required by the Investment Company Act of 1940, and of any other designated portfolio. We will also send any other reports as required by federal securities law. Policy Illustrations - Upon request we will give you an illustration of the future benefits under this policy based upon both guaranteed and current cost factor assumptions. However, if you ask us to do this more than once in any policy year, we reserve the right to charge you a fee not to exceed $25 per request for this service. Illustrated benefits that are not guaranteed, such as benefits based on the current cost factor assumptions, will vary depending upon a number of factors, including but not limited to, changes in future investment performance. Basis of Values - A detailed statement showing how values are determined has been filed with the state insurance department, if required. All values are at least equal to the minimums required by the law of the state in which this policy is delivered. The values are based on the Commissioner's 1980 Standard Ordinary Mortality Table and interest at the rate of 3%, except for unisex issues which are based on the 1980 CSO Table B and interest at the rate of 3%.
Sample 1
The Cash Surrender Value. If the Owner's Issue Age is greater than 67 but less than or equal to 75, the Death Benefit is the greatest of: (1) The sum of Premium Payments less any withdrawals and taxes; (2) The Accumulation Value less any taxes; (3) The Accumulation Value (plus subsequent premiums less subsequent withdrawals and taxes) on the 8th Contract anniversary but on or before the Owner's death; or (4) The Cash Surrender Value. GA-IA-1074 3D2 THE SCHEDULE CONTRACT FACTS (continued) ------------------------------------------------------------------------------ ------------------------------------------------------------------------------ | Annuitant Owner | | [XXXXXX X. XXX] [XXXX X. XXX] | |----------------------------------------------------------------------------| | Initial Premium Annuity Option Annuity Commencement Date| | [$10,000] [LIFE 10-YEAR CERTAIN] [JANUARY 1, 2026] | |----------------------------------------------------------------------------| | Separate Account(s) Contract Number | | [SEPARATE ACCOUNT B AND THE FIXED ACCOUNT] [123456] | ------------------------------------------------------------------------------ If the Owner's Issue Age is greater than 75: The Death Benefit is equal to the greater of Accumulation Value or Cash Surrender Value.]
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The Cash Surrender Value. If the Owner's Issue Age is greater than 75, the Death Benefit is equal to the greater of Accumulation Value or Cash Surrender Value. SPECIAL FUNDS Where used in this Contract, Special Funds are [the Liquid Asset Division, the Limited Maturity Bond Division, the Fixed Allocations and the Guaranteed Interest Division]. We may add newly available divisions as Special Funds. We may also reclassify an existing division as a Special Fund or remove such designation upon 30 days notice to you. Such reclassification will apply to amounts transferred or otherwise added to such division after the date of change. We may reduce the Mortality and Expense Risk Charge (if applicable) for that portion of the Contract invested in a Special Fund.
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Related to The Cash Surrender Value

  • Non-Cash Consideration In the case of the offering of securities for a consideration in whole or in part other than cash, including securities acquired in exchange therefor (other than securities by their terms so exchangeable), the consideration other than cash shall be deemed to be the fair value thereof as determined by the Board of Directors; provided, however, that such fair value as determined by the Board of Directors shall not exceed the aggregate market price of the securities being offered as of the date the Board of Directors authorizes the offering of such securities.

  • Cash Payment The Employee shall make cash payments by wire transfer, certified or bank check or personal check, in each case payable to the order of the Company; the Company shall not be required to deliver certificates for Option Shares until the Company has confirmed the receipt of good and available funds in payment of the purchase price thereof.

  • Proceeds from Shares Sold The Custodian shall receive funds representing cash payments received for Shares issued or sold from time to time by the Funds, and shall promptly credit such funds to the account(s) of the applicable Portfolio(s). The Custodian shall promptly notify each applicable Fund of Custodian's receipt of cash in payment for Shares issued by such Fund by facsimile transmission or in such other manner as the Fund and Custodian may agree in writing. Upon receipt of Proper Instructions, the Custodian shall: (a) deliver all federal funds received by the Custodian in payment for Shares in payment for such investments as may be set forth in such Proper Instructions and at a time agreed upon between the Custodian and the applicable Fund; and (b) make federal funds available to the applicable Fund as of specified times agreed upon from time to time by the applicable Fund and the Custodian, in the amount of checks received in payment for Shares which are deposited to the accounts of each applicable Portfolio.

  • Cash Consideration In case of the issuance or sale of additional Shares for cash, the consideration received by the Company therefor shall be deemed to be the amount of cash received by the Company for such Shares (or, if such Shares are offered by the Company for subscription, the subscription price, or, if such Shares are sold to underwriters or dealers for public offering without a subscription offering, the public offering price), without deducting therefrom any compensation or discount paid or allowed to underwriters or dealers or others performing similar services or for any expenses incurred in connection therewith.

  • Cash Payments in Lieu of Fractional Shares No fractional shares of Common Stock or scrip representing fractional shares shall be issued upon conversion of Notes. If more than one Note shall be surrendered for conversion at one time by the same holder, the number of full shares that shall be issuable upon conversion shall be computed on the basis of the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so surrendered. If any fractional share of stock would be issuable upon the conversion of any Note or Notes, the Company shall make an adjustment and payment therefor in cash at the current market price thereof to the holder of Notes. The current market price of a share of Common Stock shall be the Closing Price on the last Business Day immediately preceding the day on which the Notes (or specified portions thereof) are deemed to have been converted.

  • Total Consideration The aggregate consideration (the "Consideration") payable by the Surviving Partnership in connection with the merger of the Merged Partnership with and into the Surviving Partnership shall be $9,580,000., subject to adjustments at Closing pursuant to Section 3.9 and costs paid pursuant to Section 3.10(c) and Section 3.11, plus the amount of any tax or other reserves held by the Existing Lender (hereinafter defined).

  • Payment of Consideration (a) Subject to surrender to the Depositary for cancellation of a certificate which immediately prior to the Effective Time represented outstanding Entrée Common Shares together with a duly completed and executed Letter of Transmittal and such additional documents and instruments as the Depositary may reasonably require, following the Effective Time the holder of such surrendered certificate shall be entitled to receive in exchange therefor, and the Depositary shall deliver to such holder, the Consideration which such holder has the right to receive under this Plan of Arrangement, less any amounts withheld pursuant to Section 4.4, and any certificate so surrendered shall forthwith be cancelled. (b) Until surrendered as contemplated by Section 4.1(a), each certificate that immediately prior to the Effective Time represented an Entrée Common Share shall be deemed after the Effective Time to represent only the right to receive, upon such surrender, the Consideration to which the holder thereof is entitled in lieu of such certificate as contemplated by Section 3.1 and this Section 4.1, less any amounts withheld pursuant to Section 4.4. Any such certificate formerly representing Entrée Securities not duly surrendered on or before the sixth anniversary of the Effective Date shall: (i) cease to represent a claim by, or interest of, any former holder of Entrée Securities of any kind or nature against or in Entrée or Spinco (or any successor to any of the foregoing); and (ii) be deemed to have been surrendered to Entrée and shall be cancelled. (c) No holder of an Entrée Security shall be entitled to receive any consideration with respect to such Entrée Securities other than the Consideration to which such holder is entitled in accordance with Section 3.1 and this Section 4.1 and, for greater certainty, no such holder will be entitled to receive any interest, dividends, premium or other payment in connection therewith.

  • Cash Payments Merchant may not receive any payments from a Cardholder for charges included in any Transaction resulting from the use of any Card nor receive any payment from a Cardholder to prepare and present a Transaction for the purpose of affecting a deposit to the Cardholder's Card account.

  • XXXXX CASH 25 CONTRACTOR is authorized to establish a xxxxx cash fund in an amount not 26 to exceed one thousand dollars ($1,000).

  • Merger Consideration Each share of the common stock, par value $0.01 per share, of the Company (a “Share” or, collectively, the “Shares”) issued and outstanding immediately prior to the Effective Time other than (i) Shares owned by Parent, Merger Sub or any other direct or indirect wholly-owned Subsidiary of Parent and Shares owned by the Company or any direct or indirect wholly-owned Subsidiary of the Company, and in each case not held on behalf of third parties (but not including Shares held by the Company in any “rabbi trust” or similar arrangement in respect of any compensation plan or arrangement) and (ii) Shares that are owned by stockholders (“Dissenting Stockholders”) who have perfected and not withdrawn a demand for appraisal rights pursuant to Section 262 of the DGCL (each Share referred to in clause (i) or clause (ii) being an “Excluded Share” and collectively, “Excluded Shares”) shall be converted into the right to receive $27.25 per Share in cash, without interest (the “Per Share Merger Consideration”). At the Effective Time, all of the Shares shall cease to be outstanding, shall be cancelled and shall cease to exist, and each certificate (a “Certificate”) formerly representing any of the Shares (other than Excluded Shares) and each non-certificated Share represented by book-entry (a “Book Entry Share”) (other than Excluded Shares) shall thereafter represent only the right to receive the Per Share Merger Consideration, without interest, and each Certificate formerly representing Shares or Book Entry Shares owned by Dissenting Stockholders shall thereafter only represent the right to receive the payment to which reference is made in Section 4.2(f).

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