WITHDRAWALS AT TERMINATION OF CONTRACT Sample Clauses

WITHDRAWALS AT TERMINATION OF CONTRACT. You may, in conjunction with a termination of the Contract, make a Withdrawal of the balance from the entire Contractholder Fixed Account over a five-year period. During the five-year payout period, interest will be added to the Contractholder Fixed Account at the end of each day on the amount of the Contractholder Fixed Account at the end of the preceding day at an Effective Annual Rate determined on the Withdrawal Date. This rate is equal to the interest rate then applicable to the Contractholder Fixed Account less 0.50%. In no event will the interest paid under this provision be less than the Minimum Rate. We will pay one-sixth of the balance of the Contractholder Fixed Account within 90 days of the Withdrawal Date; we will pay one-fifth of the Contractholder Fixed Account as of the first anniversary of the Withdrawal Date on the first Business Day following the first anniversary of the Withdrawal Date; we will pay one-fourth of the Contractholder Fixed Account as of the second anniversary of the Withdrawal Date on the first Business Day following the second anniversary of the Withdrawal Date; we will pay one-third of the Contractholder Fixed Account as of the third anniversary of the Withdrawal Date on the first Business Day following the third anniversary of the Withdrawal Date; we will pay one-half of the Contractholder Fixed Account as of the fourth anniversary of the Withdrawal Date on the first Business Day following the fourth anniversary of the Withdrawal Date and we will pay the remaining balance of the Contractholder DC-403-2015CT 10 Fixed Account on the first Business Day following the fifth anniversary of the Withdrawal Date. We will make all payments to You or to any institution or account You designate. We will make all payments from the Contractholder Variable Account to You or to an institution or account You designate. We will usually pay the entire balance of the Contractholder Variable Account within seven Business Days after receipt of a Good Order request for a Withdrawal at termination of the Contract. However, We can postpone such payments if: 1. the New York Stock Exchange is closed, other than customary weekend and holiday closing, or trading on the exchange is restricted as determined by the Securities and Exchange Commission (SEC); 2. the SEC permits, by an order, the postponement for the protection of Contractholders; or 3. the SEC determines that an emergency exists that would make the disposal of securities held in the Cont...
Sample 1See All (4)
AutoNDA by SimpleDocs
WITHDRAWALS AT TERMINATION OF CONTRACT. You may, in conjunction with a termination of the Contract as described in Section 8, make a Withdrawal of the entire balance of the Contractholder Fixed Account after the deduction of any applicable Deferred Sales Charges over a five-year period. During the five-year payout period, interest will be added to the Contractholder Fixed Account at the end of each day on the amount of the Contractholder Fixed Account at the end of the preceding day at an Effective Annual Rate determined on the Withdrawal Date. This rate is determined by multiplying the dollar amount of each Rate Segment by the interest rate that applies to that segment, adding the products, dividing the sum by the total dollar amount of all segments and subtracting 0.50%. Alternatively, at your election, Prudential can reset the interest rate annually throughout the payout period as provided under Section 3.3 with no 0.50% reduction. In no event will the interest paid under this Section be less than 3.0% per annum. We will pay one-fifth of the balance of the then-current Contractholder Fixed Account on the first Business Day following the first anniversary of the Withdrawal Date. We will pay one-fourth of the then-current Contractholder Fixed Account as of the second anniversary of the Withdrawal Date. We will pay one-third of the then-current Contractholder Fixed Account as of the third anniversary of the Withdrawal Date. We will pay one-half of the then-current Contractholder Account as of the fourth anniversary of the Withdrawal Date. We will pay the remainder of the then-current Contractholder Account as of the fifth anniversary of the Withdrawal Date. We will make all payments to you or to any institution or account you
Sample 1

Related to WITHDRAWALS AT TERMINATION OF CONTRACT

  • Termination of Contract The Department may terminate the Contract for refusal by the Contractor to comply with this section by not allowing access to all public records, as defined in Chapter 119, F. S., made or received by the Contractor in conjunction with the Contract.

  • Termination of Contracts Neither the Company nor any of its Subsidiaries has sent or received any communication regarding termination of, or intent not to renew, any material contract or agreement referred to or described in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus or filed as an exhibit to the Registration Statement, and no such termination or non-renewal has been threatened by the Company or any of its Subsidiaries or by any other party to any such contract or agreement.

  • Termination of Contract for Cause 5.1.1 If A-E breaches any of the covenants or conditions of this CONTRACT, COUNTY shall have the right to terminate this CONTRACT upon ten (10) days written notice prior to the effective day of termination. 5.1.2 A-E shall have the opportunity to cure the alleged breach prior to termination. 5.1.3 In the event the alleged breach is not cured by A-E prior to termination, all work performed by A-E pursuant to this CONTRACT, which work has been reduced to plans or other documents, shall be made available to COUNTY.

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.

  • Termination Apart from Change of Control In the event the Employee’s employment is terminated for any reason, either prior to the occurrence of a Change of Control or after the twelve (12) month period following a Change of Control, then the Employee shall be entitled to receive severance and any other benefits only as may then be established under the Company’s (or any subsidiary’s) then existing severance and benefits plans or pursuant to other written agreements with the Company.

  • Rescission and Early Termination of Contract The Illinois Commerce Commission is considering rescission and early termination of contract regulations that may afford you opportunities within certain parameters to rescind or terminate your contract without incurring an early termination fee. In addition, your DSP’s tariff (which is on file with the Illinois Commerce Commission) may contain provisions regarding penalty-free rescission periods. Homefield Energy will comply with all applicable provisions and regulations concerning rescission and early termination of contract. Shortly after your election to take service from Homefield Energy, your DSP should provide you an enrollment notice informing you of any rescission rights you may have and the last day for making a request to rescind. If you rescind this Agreement within the timeframe specified by your DSP, your enrollment with Homefield Energy will be cancelled without penalty to you. Upon rescission in accordance with applicable law, this Agreement will be considered cancelled and neither party shall have any further obligation hereunder to each other. If you do not rescind this Agreement, you still may terminate the Agreement without any termination fee or penalty within 10 business days after the date of the first bill issued to you under this Agreement by calling Homefield Energy toll-free at 000-000-0000 to let Homefield Energy know to terminate this Agreement. You may terminate a residential electric supply agreement in this manner only one time in any 12 month period. Upon termination, you will remain responsible for all obligations, including payment for Retail Power and related costs and charges, incurred under this Agreement prior to the effective date of termination, including any applicable termination fee.

  • Termination Apart from a Change of Control If the Employee's employment with the Company terminates other than as a result of an Involuntary Termination within the twelve (12) months following a Change of Control, then the Employee shall not be entitled to receive severance or other benefits hereunder, but may be eligible for those benefits (if any) as may then be established under the Company's then existing severance and benefits plans and policies at the time of such termination.

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.

  • NO EXPECTATION OF CONTINUED EMPLOYMENT BEYOND TERM OF CONTRACT Neither this contract nor any Board Policy, rule or evaluation procedure shall confer upon the Employee continued employment beyond the term provided in this contract.

  • Early Contract Termination The State may terminate this contract in whole or in part by giving fifteen (15) days written notice to the Purchaser when it is in the best interests of the State. If this contract is so terminated, the State shall be liable only for the return of that portion of the initial deposit that is not required for payment, and the return of unapplied payments. The State shall not be liable for damages, whether direct or consequential.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!