VARIABLE SUBACCOUNT VALUE Sample Clauses

VARIABLE SUBACCOUNT VALUE. The Variable Subaccount value of a Participant's Account for any valuation period is equal to the value invested under Variable Subaccounts. The value of each of a Participant's Variable Subaccounts is determined by multiplying the Unit value for the Division underlying that subaccount on that date by the number of Units owned by the Participant in the Division underlying the Variable Subaccount. The value of a Unit may increase or decrease according to the investment performance of the Division underlying the Variable Subaccount. The current value of a Unit is equal to the value of such Unit for the immediately preceding valuation period times the Net Investment Factor for the current period. The Net Investment Factor for a Division is the sum of 1.000000 plus the Net Investment Rate for that Division. The Net Investment Rate for any valuation period for a Division is the Gross Investment Rate for that Division for the valuation period less: o the daily charge for the period at an annual rate of 1%; and o charges for any taxes payable by the Separate Account or reserves held for such taxes. The Gross Investment Rate for a Division is computed on each day the New York Stock Exchange is open for trading. It is computed at least once a day at the time trading closes. It covers the valuation period since the last prior computation. The Gross Investment Rate is equal to: o the investment income and capital gains and losses, both realized and unrealized, on the assets of that Division during such period, divided by o the amount of such assets at the beginning of the period. The Gross Investment Rate may be dither positive or negative.
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VARIABLE SUBACCOUNT VALUE. The value of the contract in a Variable Subaccount.
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VARIABLE SUBACCOUNT VALUE. 5 6.02 Qualified Retirement Plans and Tax . . 12 2.05
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Related to VARIABLE SUBACCOUNT VALUE

  • Account Value The term “Account Value” is defined as the policy value determined in accordance with the terms of the Annuities.

  • 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.

  • Deferral Account 3.1 Establishing and Crediting. The Company shall establish a Deferral Account on its books for the Director, and shall credit to the Deferral Account the following amounts:

  • SUBACCOUNTS The Separate Account is divided into Subaccounts which invest in shares of mutual funds. Each Subaccount may invest its assets in a separate class or series of a designated mutual fund or funds. The Subaccounts are shown on page 3. Subject to the regulatory requirements then in force, SBL reserves the right to:

  • Income Account The Trustee shall collect the dividends and other cash distributions on the Securities in each Trust which would be treated as dividend (other than capital gain dividends) or interest income under the Internal Revenue Code as such become payable (including all monies which would be so treated representing penalties for the failure to make timely payments on the Securities, or as liquidated damages for default or breach of any condition or term of the Securities or of the underlying instrument relating to any Securities and other income attributable to a Failed Contract Obligation for which no Replacement Security has been obtained pursuant to Section 3.12 hereof) and credit such income to a separate account for each Trust to be known as the "Income Account." Any non-cash distributions received by a Trust shall be sold to the extent they would be treated as dividend or interest income under the Internal Revenue Code and the proceeds shall be credited to the Income Account. Except as provided in the preceding sentence, non-cash distributions received by a Trust (other than a non-taxable distribution of the shares of the distributing corporation which shall be retained by a Trust) shall be dealt with in the manner described in Section 3.11, herein, and shall be retained or disposed of by such Trust according to those provisions and the proceeds thereof shall be credited to the Capital (Principal) Account. Neither the Trustee nor the Depositor shall be liable or responsible in any way for depreciation or loss incurred by reason of any such sale. All other distributions received by a Trust shall be credited to the Capital (Principal) Account."

  • Account Balance The Servicer must never allow any Custodial T&I Account to become overdrawn as to any individual related Borrower. If there are insufficient funds in the account, the Servicer must advance its own funds to cure the overdraft.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Annuity Unit Value The initial Annuity Unit Value for each Subaccount was arbitrarily set at $10 on the Business Day the Subaccount began operations. At the end of each subsequent Business Day, the Annuity Unit Value for each Subaccount is equal to (A x B) x C, where:

  • Subaccount An investment division of the Separate Account. Each Subaccount, (a “Variable Investment Option” or “Variable Account”) invests its assets in a separate series or class of shares of a designated investment company.

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