TOTAL WITHDRAWAL Clause Samples
TOTAL WITHDRAWAL. The Withdrawal Value for a total withdrawal from the Contract is equal to the Contract Value less any Withdrawal Charge. A total withdrawal terminates Your Contract. In no event will a total withdrawal from the Fixed Account be less than the FAMV. PARTIAL WITHDRAWAL. Any partial withdrawal may be subject to a Withdrawal Charge. At least the Minimum Contract Value remaining after a partial withdrawal, as shown on the Contract Data Pages, must remain after any partial withdrawal. Unless You request otherwise, a gross partial withdrawal will be deducted from the Fixed Account Option(s) and the Index Account Option(s) in proportion to their current values. The gross partial withdrawal will be reduced for any applicable Withdrawal Charge. If the gross amount of the partial withdrawal would reduce the Contract Value below the Minimum Contract Value remaining after a partial withdrawal, as shown on the Contract Data Pages, the Company will treat the withdrawal request as a total withdrawal and the Withdrawal Value will be paid. The amount payable as a result of the partial withdrawal will be determined at the end of the Business Day on which the Company receives Your request for withdrawal in Good Order at the Company's Customer Care Center. Partial Withdrawals will reduce each Index Account Option's value at the beginning of the term in the same proportion that its Interim Value was reduced on the date of the withdrawal. Any overpayments made by the Company to You in error must be returned within thirty (30) days from the date You are notified of the overpayment, or the Company will reduce Your Contract Value for the amount of the overpayment. If the overpayment exceeds the Contract Value, You are responsible for returning the remaining portion of the overpayment to the Company.
TOTAL WITHDRAWAL. Upon receipt of your request to withdraw all of your Account Value, we will terminate the Contract and we will pay you an amount determined by the following formula: F + [(A-F) x Z] — [(A-F) x W], WHERE: F = the Free Withdrawal Amount; A = the Account Value, reduced by any applicable Annual Fee; Z = the Market Value Adjustment Factor, as shown on the Specifications Page; W = the Withdrawal Charge Percentage. PARTIAL WITHDRAWAL(S) You may withdraw less than your entire Account Value. However, requests for amounts in excess of the Free Withdrawal Amount are subject to a Withdrawal Charge, a Market Value Adjustment and will be determined using the following calculation: F + [(G -F) x Z] — [(G-F) x W], where: F = the Free Withdrawal Amount; G = the Gross Withdrawal Amount; Z = the Market Value Adjustment Factor, as shown on the Specifications Page; W = the Withdrawal Charge Percentage. We do not restrict the frequency of withdrawals. However, the Gross Withdrawal Amount withdrawn must be no less than the Minimum Partial Withdrawal Amount shown on the Contract’s Specifications Pages. Any withdrawal which would reduce the Account Value to less than the Minimum Account Value, indicated on the Specifications Page, may be treated as a request for a Total Withdrawal of your Account Value.
TOTAL WITHDRAWAL. In the case of a Majority Assignment, each of the Parties benefit, as an alternative to the Right of Pre-emption of the right to request (and demand) the Assignee referred to in the Initial Notification and, failing this, the assigning Shareholder himself, to acquire all the Securities he holds ("Right of Total Withdrawal"). The Parties’ Right of Withdrawal is also exercised with regard to Other Shareholders who, having exercised their Right of Pre-emption, will be dealt with in this context (i.e. such Other Shareholders shall have to acquire all of the Securities held by the Shareholders who exercise their right of withdrawal). In addition, to allow Other Shareholders who are envisaging exercising their Right of Pre-emption to do this in full knowledge of the number of additional Securities which, when the pre-emption ends, should be acquired from the Investors, any Other Shareholder that intends to exercise his Right of Withdrawal, even in the case of pre-emption, must notify the exclusive exercising of this right to all Shareholders, within a period that is two thirds of the Period for Exercising Rights, namely twenty (20) days (four (4) days if the respective Assignment relates to preferential subscription rights) ("Reduced Period"). If the Right of Withdrawal is notified after the expiry of the Reduced Period, but before that of the Period for Exercising Rights, it is only exercised with regard to the Assignees named in the Initial Notification, if no Preemption has been completed, but there is no effect, if the Securities that are the object of the planned Assignment are Pre-empted.
TOTAL WITHDRAWAL. Upon receipt of your request to withdraw all of your Account Value, we will terminate the Contract and we will pay you the following amount: