Common use of TRANSFERS TO ANOTHER FUNDING AGENT Clause in Contracts

TRANSFERS TO ANOTHER FUNDING AGENT. (a) At the Request of a Participant: The Contract-Holder may transfer, pursuant to the request of a Participant, the Withdrawal Value of the Participant's Account to an annuity contract issued to the Contract-Holder which meets the conditions of Section 457 of the Federal Internal Revenue Code and is provided by another financial institution. The transfer may be made directly to that institution or by a payment (or payments) to the Contract-Holder who then makes payment to the institution. The transfer will normally be made within seven days after Prudential's receipt of a duly completed transfer request. The transfer will be a full settlement of Prudential's liability for the Participant's Account. 9/84 (b) At the Contract-Xxxxxx's Request: The Contract-Holder may request Prudential to make transfer payments to a funding agent named in the request. The transfer payment will be made on the Transfer Date. The Transfer Date is the later of the day specified in the request and the 90th day after its receipt by Prudential. All Participants' Accounts will be cancelled as of the Transfer Date. A single liquidation account will be established equal to the sum of the Withdrawal Values expressed in Units of the cancelled Accounts. On the Transfer Date Prudential will withdraw the Units from the liquidation account. The product of the number of Units withdrawn and the Unit Value for the day of withdrawal will be transferred within seven days thereafter. Instead of making the transfer payment in cash, Prudential may make all or part of it in the form of securities representing a uniform percentage of each holding of the separate investment account described in section 2.1.

TRANSFERS TO ANOTHER FUNDING AGENT. (a) At the Request of a Participant: The Contract-Holder may transfer, pursuant to the request of a Participant, the Withdrawal Value of the Participant's Account to an annuity contract issued to the Contract-Holder which meets the _ conditions of Section 457 of the Federal Internal Revenue Code and is provided by another financial institution. The transfer may be made directly to that institution or by a payment (or payments) to the Contract-Holder who then makes payment to the institution. The transfer will normally be made within seven days after Prudential's receipt of a duly completed transfer request. The transfer will be a full settlement of Prudential's liability for the Participant's Account. 9/84 (b) At the Contract-Xxxxxx's Request: The Contract-Holder may request Prudential to make transfer payments to a funding agent named in the request. The transfer payment will be made on the Transfer Date. The Transfer Date is the later of the day specified in the request and the 90th day after its receipt by Prudential. All Participants' Participant's Accounts will be cancelled as of the Transfer Date. A single liquidation account will be established equal to the sum of the Withdrawal Values expressed in Units of the cancelled Accounts. On the Transfer Date Prudential will withdraw the Units from the liquidation account. The product of the number of Units withdrawn and the Unit Value for the day of withdrawal will be transferred within seven days thereafter. Instead of making the transfer payment in cash, Prudential may make all or part of it in the form of securities representing a uniform percentage of each holding of the separate investment account described in section 2.1.

TRANSFERS TO ANOTHER FUNDING AGENT. (a) At Total Transfers at the Request of a Participant: The Contract-Holder may transfer, pursuant to the request of a Participant, the Withdrawal Value of the Participant's Account to an annuity contract issued to the Contract-Holder which meets the conditions of Section 457 of the Federal Internal Revenue Code and is provided by another financial institution. The transfer may be made directly to that institution or by a payment (or payments) to the Contract-Holder who then makes payment to the institution. The transfer will normally be made within seven days after Prudential's receipt of a duly completed transfer request. The transfer will be a full settlement of Prudential's liability for the Participant's Account. 9/84. (b) At Partial Transfers at the Request of a Participant: The Contract-Holder may transfer, pursuant to the request of a Participant, a portion of the Participant's Account to another financial institution, if such transfer is permitted by the terms of the Plan. The minimum withdrawal to provide a transfer is $500, or the dollar value of the Participant's Account, if smaller. The transfer will normally be made within seven days of a duly completed request for it. Prudential may, upon notice to the Contract-XxxxxxHolder and Participants limit the frequency of transfers. This action will take effect on the date of the notice. Any transfer amount will be subject to the provisions of section 3.1 relating to withdrawal charges. GVA-1010 (as modified by Group Annuity Amendment Form GAA-7792) Serial 320 3.3-3.4 (c) Total Transfers at the Contract-Holder's Request: The Contract-Holder may request Prudential to make transfer payments to a funding agent named in the request. The transfer payment will be made on the Transfer Date. The Transfer Date is the later of the day specified in the request and the 90th day after its receipt by Prudential. All Participants' Participant's Accounts will be cancelled as of the Transfer Date. A single liquidation account will be established equal to the sum of the Withdrawal Values expressed in Units of the cancelled Accounts. On the Transfer Date Prudential will withdraw the Units from the liquidation account. The product of the number of Units withdrawn and the Unit Value for the day of withdrawal will be transferred within seven days thereafter. Instead of making the transfer payment in cash, Prudential may make all or part of it in the form of securities representing a uniform percentage of each holding of the separate investment account described in section 2.1.

TRANSFERS TO ANOTHER FUNDING AGENT. (a) At the Request of a Participant: The Contract-Holder may transfer, pursuant to the request of a Participant, the Withdrawal Value of the Participant's Account to an annuity contract issued to the Contract-Holder which meets the conditions of Section 457 of the Federal Internal Revenue Code and is provided by another financial institution. The transfer may be made directly to that institution or by a payment (or payments) to the Contract-Holder who then makes payment to the institution. The transfer will normally be made within seven days after Prudential's receipt of a duly completed transfer request. The transfer will be a full settlement of Prudential's liability for the Participant's Account. 9/84 (b) At the Contract-XxxxxxHolder's Request: The Contract-Holder may request Prudential to make transfer payments to a funding agent named in the request. The transfer payment will be made on the Transfer Date. The Transfer Date is the later of the day specified in the request and the 90th day after its receipt by Prudential. All Participants' Participant's Accounts will be cancelled as of the Transfer Date. A single liquidation account will be established equal to the sum of the Withdrawal Values expressed in Units of the cancelled Accounts. On the Transfer Date Prudential will withdraw the Units from the liquidation account. The product of the number of Units withdrawn and the Unit Value for the day of withdrawal will be transferred within seven days thereafter. Instead of making the transfer payment in cash, Prudential may make all or part of it in the form of securities representing a uniform percentage of each holding of the separate investment account described in section 2.1.

TRANSFERS TO ANOTHER FUNDING AGENT. (a) At the Request of a Participant: The Contract-Holder may transfer, pursuant to the request of a Participant, the Withdrawal Value of the Participant's Account to an annuity contract issued to the Contract-Holder which meets the conditions of Section 457 of the Federal Internal Revenue Code and is provided by another financial institution. The transfer may be made directly to that institution or by a payment (or payments) to the Contract-Holder who then makes payment to the institution. The transfer will normally be made within seven days after Prudential's receipt of a duly completed the transfer request. The transfer will be a full settlement of Prudential's liability for the Participant's Account. 9/84 (b) At the Contract-XxxxxxHolder's Request: The Contract-Holder may request Prudential to make transfer payments to a funding agent named in the request. The transfer payment will be made on the Transfer Date. The Transfer Date is the later of the day specified in the request and the 90th day after its receipt by Prudential. All Participants' Accounts will be cancelled as of the Transfer Date. A single liquidation account will be established equal to the sum of the Withdrawal Values expressed in Units of the cancelled Accounts. On the Transfer Date Prudential will withdraw the Units from the liquidation account. The product of the number of Units withdrawn and the Unit Value for the day of withdrawal will be transferred within seven days thereafter. Instead of making the transfer payment in cash, Prudential may make all or part of it in the form of securities representing a uniform percentage of each holding of the separate investment account described in section 2.1.