Variable Account General Description — The variable benefits under the Contract are provided through the Protective Variable Annuity Separate Account (the “Variable Account”), which is registered with the Securities and Exchange Commission as a unit investment trust under the Investment Company Act of 1940. We own the assets in the Variable Account. The portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to the Variable Account cannot be charged with the liabilities arising out of any other business we may conduct. The income, gains and losses, both realized and unrealized, from the assets of the Variable Account shall be credited to or charged against the Variable Account without regard to any other income, gains or losses of the Company. We have the right to transfer to our general account any assets of the Variable Account that are in excess of such reserves and other liabilities.
Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof:
ANNUITY PAYMENT OPTIONS a. Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.
Fixed Annuity Payments The minimum guaranteed income purchased per $1,000 of the net amount applied to a fixed annuity is based on an annual interest rate of 3% and the 1983a Mortality Table with the ages set back ten (10) years. Conversion to Current Rates – Annuity payments will be based on the greater of: • our current income factors in effect for this Contract on the Annuity Date; or • our guaranteed income factors. The dollar amount of any payments after the first annuity payment is specified during the annuity payment period according to the provisions of the elected Annuity Option.
Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid
Principal Payment Dates Subject to the Subordination Provisions set forth below, payments of the principal amount of this Company Note shall be made as follows:
Cash Account Except as otherwise provided in Instructions acceptable to Bank, all cash held in the Cash Account shall be deposited during the period it is credited to the Account in one or more deposit accounts at Bank or at Bank's London Branch. Any cash so deposited with Bank's London Branch shall be payable exclusively by Bank's London Branch in the applicable currency, subject to compliance with any Applicable Law, including, without limitation, any restrictions on transactions in the applicable currency imposed by the country of the applicable currency.
Payment Due Dates Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or facility fee, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of LIBO Rate Advances or Floating Rate Bid Advances to be made in the next following calendar month, such payment shall be made on the immediately preceding Business Day.
Investment Options In accordance with Section 4(b), the Named Fiduciary hereby directs the Trustee that participants’ individual accounts may be invested in the following investment options: • ASB Money Market Account • Fidelity Diversified International Fund • Fidelity Freedom 2000 Fund® • Fidelity Freedom 2005 FundSM • Fidelity Freedom 2010 Fund® • Fidelity Freedom 2015 FundSM • Fidelity Freedom 2020 Fund® • Fidelity Freedom 2025 FundSM • Fidelity Freedom 2030 Fund® • Fidelity Freedom 2035 FundSM • Fidelity Freedom 2040 Fund® • Fidelity Freedom Income Fund® • Fidelity Magellan® Fund • Fidelity Overseas Fund (frozen to new investments effective April 1, 2004) • Fidelity Puritan® Fund • Fidelity Retirement Money Market Portfolio • Fidelity U.S. Bond Index Fund • HEI Common Stock Fund • INVESCO Dynamics Fund • Xxxxxx Xxxxxxx Institutional Fund, Inc. International Equity Portfolio - Class B • Xxxxxx Xxxxxxx Institutional Fund Trust Value Portfolio – Adviser Class • Xxxxxxxxx Xxxxxx Partners Fund – Trust Class • Spartan U.S. Equity Index Fund • X. Xxxx Price Small-Cap Stock Fund The investment option referred to in Section 4(c) and Section 4(d)(v)(B)(5) shall be the ASB Money Market Account. HAWAIIAN ELECTRIC INDUSTRIES, INC. BY: HAWAIIAN ELECTRIC INDUSTRIES, INC. PENSION INVESTMENT COMMITTEE By: /s/ Xxxx X. Xxxxxx 1/23/04 Date By: /s/ Xxxxx X. Xxxxx 1/23/04 Date Xxxx X. Xxxxxx Xxxxx X. Xxxxx Chairman
FIXED ACCOUNT An account that is part of SBL's General Account. SBL guarantees that it will credit interest on Contract Value allocated to the Fixed Account at an annual rate at least equal to the Guaranteed Rate set forth on page 3.
