Annual Maintenance definition
Annual Maintenance means routine maintenance and operation activities performed by the participant during the one-year allocation period.¶
Annual Maintenance. FEE An Annual Maintenance Fee shown on page 4 will be deducted proportionately from all Variable Sub-accounts if applicable on each Contract Anniversary. A full Annual Maintenance Fee will be deducted if the Contract is Terminated on any day other the Contract Anniversary. This fee will be waived if total premiums paid are in excess of those shown on page 4. ANNUAL REPORT We will send you, at least once a year, an Annual Report which provides information on the current status of your Contract. This information will include items such as; - the current Death Benefit; - the current Account Value and Cash Surrender Value; - any amount of Indebtedness; - any Monthly Deductions since the last report; - any Partial Withdrawals and Withdrawal Charges since the last report; any Subsequent Premium Payment since the last report; and - any Annual Maintenance Fee, if applicable, since the last report. If you ask us, we will send you an additional report, at any time during the Contract year. We may charge you for this report. The charge will not be more than $25. We will tell you what the current charge is before sending the report. We will send you any shareholder reports of the Funds or any other notices, reports or documents required by law. SPECIFIED AMOUNT The Specified Amount equals the Initial Death Benefit on the Contract Date. The Initial Death Benefit for your Contract is shown on page 3. If a Partial Withdrawal is taken or a Subsequent Premium Payment is received, the Specified Amount will change as described in the Partial Withdrawal provision and the Subsequent Premium Payment provision. If your Specified Amount changes, we will send you an endorsement showing the new Specified Amount. DEATH BENEFIT The Death Benefit determined on the date of the Second Death is the greater of the Specified Amount or the Account Value multiplied by the Death Benefit Ratio on page 5. We will pay the Death Benefit, less any Indebtedness and less any due and unpaid Monthly Deduction Amounts occurring during a Grace Period, if the Second Death occurs while this Contract is In Force, subject to the terms of this Contract. Written due proof that both Insureds have died must be received at our home office prior to paying a Death Benefit. Due proof of the first Insured's death should be furnished to us at the time of such death. INTEREST FROM DATE OF DEATH If the Proceeds under this Contract are not paid within thirty days after we receive due proof of the Second Death, we will a...
Annual Maintenance. FEE During each year that this contract is in force prior to the Annuity Commencement Date, the Annual Maintenance Fee, if applicable, will be deducted on the Contract Anniversary. The fee will be charged against the Contract Value by reducing the Fixed Account value, and with respect to the Sub-Accounts, the number of Accumulation Units held as of that date. The fee will be charged on a pro-rata basis with respect to each active Account. The number of Accumulation Units deducted from each Sub-Account is determined by dividing the pro-rata portion of the Annual Maintenance Fee by the value of an Accumulation Unit for the applicable Sub-Account.
Examples of Annual Maintenance in a sentence
Annual Maintenance Contracts, Insurance premium for insurance, if so done, of the Project (except individual units) and/or any Common Areas and also the Parking Spaces or any part thereof against normal degeneration or damages and/or force majeure events including earthquake, damages, fire, lightning, mob, violence, civil commotion (and other risks, if insured).
Prepaid Annual Maintenance will be available only with an additional 5% or greater discount.
Annual Maintenance Contracts, Insurance premium for insurance, if so done, of the Project (except individual units) and/or any Common Areas and also the Parking Spaces or any part thereof against normal degeneration or damages and/or Force Majeure events including earthquake, damages, fire, lightning, mob, violence, civil commotion (and other risks, if insured).
The number of Accumulation Units deducted from each Sub-Account is determined by dividing the pro-rata portion of the Annual Maintenance Fee by the value of an Accumulation Unit for the applicable Sub-Account.
Annual Maintenance Fees and out-of-pocket expenses and advances identified under Section 2.02 below may be changed from time to time subject to mutual written agreement between each Fund and Transfer Agent.
More Definitions of Annual Maintenance
Annual Maintenance means the mandatory annual maintenance effected on the Equipment by the authorised technician of the Provider.
Annual Maintenance. FEE: Lesser of $30 or 2% of Account Value, but only if the sum of the Purchase Payments at the time the Fee is due is less than [$100,000.] TRANSFER FEE: [$10] per transfer after the [twentieth] transfer in any Annuity Year.
Annual Maintenance means annual stability testing, sample storage, annual audit and annual updating of the e Drug Master File/ Chemistry, Manufacturing and Controls (“DMF/CMC”) elements of the NDA as required in accordance with Applicable Law shall remain with and be maintained by RTU.
Annual Maintenance means, in relation to any Franchisee Year, the Amount” amount determined in accordance with paragraph 1.13(e) of Schedule 6.2 (Essex Thameside Franchise Specific Provisions);
Annual Maintenance shall be based on the personnel cost (payroll and benefits) times the estimated percent of city staff time spent conducting fiber operations and maintenance activities. This amount provides the total staff cost devoted to fiber operations and maintenance activities. This amount is then divided by the total number of fiber strand miles to determine the annual maintenance cost per fiber strand mile
Annual Maintenance. FEE: Lesser of $30 or 2% of Account Value, but only if the sum of the Purchase Payments at the time the Fee is due is less than [$100,000].
Annual Maintenance fees" are fees for administrative expenses deducted annually from the total cash value. These fees are shown on the Contract Data page.