ANNUAL ACCOUNT CHARGE definition

ANNUAL ACCOUNT CHARGE. On the last business day (see section 2.2) of each calendar year an amount will be withdrawn from each Participant's Account equal to the Annual Account Charge. Similarly, on any other day on which a Participant's Account is cancelled, an amount will be withdrawn from his Account equal to the Annual Account Charge. However, no Charge will be withdrawn if the Participant's Account is being cancelled on a January 1 to purchase an annuity for him under this contract. The Annual Account Charge is $20. A Participant may have an Account for Qualified Retirement Contributions under another group annuity contract issued to the Contract-Holder by Prudential (a "companion contract"). If so, the total Annual Account Charge that applies to all his Accounts will not exceed $20. This charge will be shared among his Accounts as Prudential determines. Also, no charge will be withdrawn from his Account under this contract when it is cancelled unless no amounts remain in an Account for him under a companion contract.
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ANNUAL ACCOUNT CHARGE. On the last business day (see section 2.3) of each calendar year an amount will be withdrawn from the Accounts of each Participant which, in aggregate, will be equal to the Annual Account Charge. Also, on any other day on which all of a Participant's Accounts are cancelled, an amount will be withdrawn from them which, in aggregate, will be equal to the Annual Account Charge. However, no Charge will be withdrawn if all of the Participant's Accounts are being cancelled on a January 1 to purchase an annuity for him under this contract. The Annual Account Charge is $20.00. A Participant may have other Accounts established in connection with the Plan under other group annuity contracts issued to the Contract-Holder by Prudential (each one is called a "companion contract"). If so, the total Annual Account Charge that applies to all of his Accounts will not exceed $20.00. This charge will be shared among all such Accounts as Prudential determines. Also, no charge will be withdrawn from a Participant's Accounts under this contract when they are cancelled unless no amounts remain in an Account for him under any companion contract. In addition to the Annual Account Charge, a charge may be made upon a withdrawal from the Participant's Account or Accounts (see section 3.1). The Charge may be changed as provided in section 5.1.
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ANNUAL ACCOUNT CHARGE. On the last business day (see section 2.2) of each calendar year an amount will be withdrawn from each Participant's Account equal to the Annual Account Charge. Also, on any other day on which a Participant's Account is cancelled, an amount will be withdrawn from his Account equal to the Annual Account Charge. However, no Charge will be withdrawn if
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Examples of ANNUAL ACCOUNT CHARGE in a sentence

  • FIXED ACCOUNT GUARANTEED INTEREST RATE: [3.00%] ANNUAL ACCOUNT CHARGE: [$25.00] On the last day of the Contract Year, the account charge will be deducted from the Account Value.

  • The EMAS registration can only be undertaken by an appropriate authority in accordance with EU Directive No. 1221/2009.

  • FIXED ACCOUNT GUARANTEED INTEREST RATE: [3.00%] ANNUAL ACCOUNT CHARGE: [$25.00] On the last day of the contract year, the account charge will be deducted from the account value.


More Definitions of ANNUAL ACCOUNT CHARGE

ANNUAL ACCOUNT CHARGE. [$25.00] per account maintained on behalf of a Participant or Contractowner.
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ANNUAL ACCOUNT CHARGE means the cost associated with the billing of each account.
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ANNUAL ACCOUNT CHARGE. [$25.00] On the last day of the Participant Year, the Account Charge will be deducted from the Account Value. Such amount will be deducted from the Account Value on a pro rata basis based on the balances held on such date in the Fixed Account and Variable Account. The full account charge will be deducted upon withdrawal of the entire Account Value. CONTINGENT DEFERRED SALES CHARGE (CDSC): CDSC (as a [6%] [6%] [6%] [6%] [5%] [4%] [3%] [2%] [1%] [0%] percentage of withdrawal amount) There will be no CDSC after the Contract has been in force for [9] complete Contract Years.
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ANNUAL ACCOUNT CHARGE. [$25.00] per account maintained on behalf of a participant or contractowner. ANNUAL MORTALITY AND EXPENSE RISK CHARGE: [1.002%] [This contract will be eligible for a lower annual Mortality and Expense Risk Charge of [0.75%] if on the last calendar day of any calendar quarter the sum of all account value under this contract equals or exceeds $5 million. The lower charge will be implemented on the calendar quarter-end valuation date following the end of the calendar quarter in which the contract became eligible for the lower charge.] CONTINGENT DEFERRED SALES CHARGE (CDSC): CDSC (as a percentage of withdrawal amount) [6]% [6]% [6]% [6]% [5]% [4]% [4]% [3]% [2]% [1]% [0]% There will be no CDSC after the contract has been in force for [10] complete contract years. LOAN SET-UP CHARGE: [$35.00]
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Related to ANNUAL ACCOUNT CHARGE

  • Annual Accounts means the accounts of the licensee prepared in accordance with the provisions of the Companies Act, 1956 and/or in such other manner as may be directed by the Commission in terms of the provisions of the Act;

  • Annual Accounting Period or “Financial Year” means the period commence on 1st July and shall end on 30th June of the succeeding calendar year.

  • Earnings Account means, in relation to a Ship, an account in the name of the Borrower owning that Ship with the Account Bank designated as the Earnings Account for that Ship, or any other account (with the Account Bank or the Agent or with another bank or financial institution acceptable to the Majority Lenders) for the purpose of receiving all charter hire and other amounts paid under the relevant Time Charter;

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Individual Account Means the account established and maintained under this Plan for each Participant in accordance with Section 4.01.

  • Earnings Accounts means the bank accounts of each of the Obligors from time to time each of which shall be held with the Agent or any of the Agent’s corresponding banks and to which all the Earnings and any proceeds of the Insurances shall be paid.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the basis of work done and the supply of non-perishable materials to be incorporated in the work.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Monthly Earnings means your gross monthly income from your Employer, not including shift differential, in effect just prior to your date of disability. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Deferred Sales Charge means the "deferred sales fee" as described in the Prospectus.

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (i) the amount of cash or other immediately available funds in the Reserve Account on such Payment Date (prior to giving effect to any withdrawals therefrom relating to such Payment Date) over (ii) the Specified Reserve Balance with respect to such Payment Date.

  • Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

  • Tax Account shall have the meaning set forth in Section 8.6 hereof.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).