ANNUAL WITHDRAWAL AMOUNT definition

ANNUAL WITHDRAWAL AMOUNT. The amount that can be withdrawn in any Contract Year prior to incurring surrender charges.
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ANNUAL WITHDRAWAL AMOUNT. The amount that can be withdrawn in any Contract Year prior to incurring surrender charges. ANNUITANT - The person on whose life this contract is issued. The Annuitant may not be changed. Also, see Contingent Annuitant and Joint Annuitant. ANNUITY - A contract issued by an insurance company that provides, in consideration of Premium Payments, a series of income payments. Your contract is a deferred Annuity contract in which Premium Payments plus Payment Enhancements, less any partial surrenders, accumulate until a full surrender of the contract or until the Annuity Commencement Date. Annuity payments under Your contract will begin as of the Annuity Commencement Date in accordance with the payment option elected. ANNUITY CALCULATION DATE - The date on which the first Annuity payment will be calculated. It will be no more than five Valuation Days prior to the Annuity Commencement Date. ANNUITY COMMENCEMENT DATE - The date as of which Annuity payments are to begin as described under Settlement Provisions in this contract. ANNUITY PAYMENT FREQUENCY - The frequency with which Annuity payments will be made. The frequencies available are monthly, quarterly, semi-annual, and annual. ANNUITY UNIT - An accounting unit of measure used to calculate the value of Annuity payments under a variable Annuity option. VAXC99-4/5 PRINTED IN U.S.A. T814R0.FRM DEFINITION OF ANNUITY UNIT FACTOR - A factor that neutralizes CERTAIN TERMS the Assumed Investment Return ("AIR") when determining (CONTINUED) the Annuity Unit Value. When the AIR is 3%, the daily factor is 0.999919. When the AIR is 5%, the daily factor is 0.999866. And when the AIR is 6%, the daily factor is 0.999840. ASSUMED INVESTMENT RETURN ("AIR") - The investment return upon which the variable Annuity payments in this contract will be based. The annual rates available are 3%, 5%, and 6%. You may select one of these rates prior to the Annuity Commencement Date. BENEFICIARY - The person(s) entitled to receive benefits as per the terms of the contract in the event of the death of the Contract Owner or Annuitant, as applicable.
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ANNUAL WITHDRAWAL AMOUNT. THE GREATER OF: (A) 10% OF PREMIUM PAYMENTS PER CONTRACT YEAR ON A NON-CUMULATIVE BASIS; OR (B) THE EXCESS OF THE ACCOUNT VALUE OVER PREMIUM PAID. VL-ALPINE SAMPLE Page 4B PRINTED IN U.S.A.
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Examples of ANNUAL WITHDRAWAL AMOUNT in a sentence

  • MAXIMUM ANNUAL WITHDRAWAL AMOUNT Guaranteed withdrawals applicable only if You have elected an optional living benefit or guaranteed minimum withdrawal benefit and have not terminated the benefit under this Contract.

  • ANNUAL WITHDRAWAL AMOUNT - The amount that can be withdrawn in any Contract Year prior to incurring surrender charges.

  • MAXIMUM ANNUAL WITHDRAWAL AMOUNT ("MAWA") The MAWA is calculated by multiplying the Benefit Base by the Maximum Annual Withdrawal Percentage ("MAWP").

  • SURRENDERS FROM PREMIUM PAYMENTS IN EXCESS OF THE ANNUAL WITHDRAWAL AMOUNT WILL BE SUBJECT TO A CHARGE.

  • MAXIMUM ANNUAL WITHDRAWAL AMOUNT ("MAWA") The maximum dollar amount available to be withdrawn each Benefit Year under the GMWB without reducing the Benefit Base and the Bonus Base.

  • DURING THE FIRST [SEVEN] CONTRACT YEARS ALL SURRENDERS IN EXCESS OF THE ANNUAL WITHDRAWAL AMOUNT WILL BE TAKEN FIRST FROM PREMIUM PAYMENTS, THEN FROM EARNINGS.

  • FOR ACCUMULATOR PLUS ONLY: [Credits applied under the Endorsement Applicable to Credits Applied to Annuity Account Value are not included in your GWB Benefit Base.] GWB ANNUAL WITHDRAWAL AMOUNT: The GWB Annual Withdrawal Amount is the Applicable Percentage (as defined below) of the initial GWB Benefit Base.

  • CONTRACT SPECIFICATIONS ANNUAL WITHDRAWAL AMOUNT (AWA): THE AMOUNT THAT CAN BE WITHDRAWN IN ANY CONTRACT YEAR WITHOUT INCURRING A CONTINGENT DEFERRED SALES CHARGE.

  • SUBJECT TO THE ANNUAL WITHDRAWAL AMOUNT, SURRENDERS OF CONTRACT VALUES ATTRIBUTABLE TO PREMIUM PAYMENTS MAY BE SUBJECT TO A CONTINGENT DEFERRED SALES CHARGE ("CHARGE").

  • DURING THE FIRST [FOUR] CONTRACT YEARS ALL SURRENDERS IN EXCESS OF THE ANNUAL WITHDRAWAL AMOUNT WILL BE TAKEN FIRST FROM PREMIUM PAYMENTS, THEN FROM EARNINGS.


More Definitions of ANNUAL WITHDRAWAL AMOUNT

ANNUAL WITHDRAWAL AMOUNT. A Contingent Deferred Sales Charge is not assessed against any withdrawals made each Certificate Year, on a non-cumulative basis, of up to 10% of premium payments remaining in the Certificate as of the last Certificate Anniversary.
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ANNUAL WITHDRAWAL AMOUNT. DURING THE INITIAL CONTINGENT DEFERRED SALES CHARGE PERIOD 10% OF PREMIUM PAYMENTS PER CONTRACT YEAR ON A NONCUMULATIVE BASIS. AFTER THE INITIAL CONTINGENT DEFERRED SALES CHARGE PERIOD 100% OF CONTRACT VALUE REDUCED BY THE TOTAL OF THOSE PREMIUM PAYMENTS STILL SUBJECT TO A CONTINGENT DEFERRED SALES CHARGE AND ASSOCIATED PAYMENT ENHANCEMENTS; AND 10% OF THOSE PREMIUM PAYMENTS STILL SUBJECT TO A CONTINGENT DEFERRED SALES CHARGE PER CONTRACT YEAR ON A NONCUMULATIVE BASIS. ANNUAL MAINTENANCE FEE: $0 IF CONTRACT VALUE IS [$50,000] OR MORE ON EACH CONTRACT ANNIVERSARY.
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ANNUAL WITHDRAWAL AMOUNT. CONTRACT YEARS [1-8] -------------------- [10%] OF PREMIUM PAYMENTS MADE PER CONTRACT YEAR ON A NONCUMULATIVE BASIS. AFTER CONTRACT YEAR [8] ----------------------- 100% OF CONTRACT VALUE REDUCED BY THE TOTAL OF EACH PREMIUM PAYMENT MADE DURING THE [8] CONTRACT YEARS PRIOR TO WITHDRAWAL AND ASSOCIATED PAYMENT ENHANCEMENTS; AND [10%] OF PREMIUM PAYMENTS MADE DURING EACH OF THE [8] CONTRACT YEARS PRIOR TO WITHDRAWAL ON A NONCUMULATIVE BASIS. ANNUAL MAINTENANCE FEE: $0 IF CONTRACT VALUE IS [$50,000] OR MORE ON EACH CONTRACT ANNIVERSARY.
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Related to ANNUAL WITHDRAWAL AMOUNT

  • Free Withdrawal Amount ’ means an amount equal to the percentage, stated in the Data Pages, of the Annuity Account Value, minus the total of all prior withdrawals (and associated Withdrawal Charges) made as described in Section 5.01 in the current Contract Year that may be withdrawn each Contract Year without incurring a Withdrawal Charge. We have the right to change the Free Withdrawal Amount, but it will always be a percentage between 5% and 30% if so provided in the Data Pages.

  • Final Withdrawal Date Has the meaning specified in the Escrow Agreement.

  • Final Withdrawal Has the meaning specified in the Escrow Agreement.

  • Final Withdrawal Notice Has the meaning specified in Section 5.02 of this Trust Supplement.

  • Yield Supplement Withdrawal Amount means, with respect to any Collection Period and the related Deposit Date, the lesser of (a) the amount on deposit in the Yield Supplement Account and (b) the sum of (i) the Yield Supplement Amount and (ii) after giving effect to the withdrawal of the Yield Supplement Amount, the amount by which the amount on deposit in the Yield Supplement Account exceeds the Maximum Yield Supplement Amount.

  • Withdrawal Period has the meaning specified in Section 10.23(b).

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Cash Withdrawal means a disbursement of funds in any currency from any Account out of the balance in your favour (whether or not in the form of cash) made or obtained through or in connection with any Citibank ATM/ Debit Card.

  • Withdrawal value means a Participant's Account Value minus the applicable Withdrawal Charge. (transfer from GRA III NBR/GAA III NBR -- Series I) (original GRA I NBR/GAA I NBR -- Series I) P-14020(SBR)(MBR)(NBR)conv.6

  • Single Withdrawal Tranche means the amount of the Loan allocated to the category entitled “Single Withdrawal Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarially equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or qualified joint and survivor annuity) to which the Member would be entitled under the terms of the plan assuming:

  • Withdrawal Date Any day during the period commencing on the 18th day of the month of the related Distribution Date (or if such day is not a Business Day, the immediately preceding Business Day) and ending on the last Business Day prior to the 21st day of the month of such Distribution Date. The “related Due Date” for any Withdrawal Date is the Due Date immediately preceding the related Distribution Date.

  • Withdrawal Event means the earliest to occur of any event which causes a Partner to cease to be a Partner, and to become a Former Partner, as set forth in Section 1.29.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • Excess Withdrawal is a withdrawal of Account Value that exceeds the Free Withdrawal Amount. This term may not apply to your Contract.

  • Actual Contribution Percentage means, with respect to a Plan Year, the ratio (expressed as a percentage) of the sum of the amount of (a) Matching Contributions, (b) After-Tax Contributions, (c) Qualified Nonelective ESOP Contributions, and (d) Tax Deferred Contributions recharacterized as After-Tax Contributions, made on behalf of the Participant for the Plan Year to the Participant’s Testing Compensation for the Plan Year.

  • Annual Deferral Amount means that portion of a Participant's Base Annual Salary and Annual Bonus that a Participant elects to have, and is deferred, in accordance with Article 3, for any one Plan Year. In the event of a Participant's Retirement, Disability (if deferrals cease in accordance with Section 8.1), death or a Termination of Employment prior to the end of a Plan Year, such year's Annual Deferral Amount shall be the actual amount withheld prior to such event.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Withdrawal Charge means a charge taken by AUL equal to a percentage of the Account Value withdrawn pursuant to Section 4.8, where the percentage varies by the Participant Account Year in which the withdrawal is made. The first Participant Account Year begins on the date when AUL establishes a Participant Account and credits the initial Contribution for the Participant, and ends on the day immediately preceding the next anniversary of such date. Each Participant Account Year thereafter begins on such an anniversary date and ends on the day immediately preceding the next succeeding anniversary date. The Withdrawal Charge percentage is as follows: During Withdrawal Charge Participant Account Years Percentage However, for any Participant who also participates in AUL Series III group annuity contract GA XX,XXX, the initial Withdrawal Charge percentage under this contract shall be equal to the Withdrawal Charge percentage applicable to the Participant under the AUL Series I group annuity contract from which funds have been transferred to such Series III contract, determined by AUL immediately prior to the date of such transfer, rounded down to the next whole Withdrawal Charge percentage if the Withdrawal Charge percentage under such Series I contract is a fractional Withdrawal Charge percentage. However, the Withdrawal Charge percentage under this paragraph shall never be greater than 8%. The Withdrawal Charge percentage shall be decreased by 1% for each subsequent Participant Account Year until the Withdrawal Charge percentage equals 4%. (However, if the applicable Series I contract Withdrawal Charge percentage is less than 4%, it shall be rounded up to 4% in this contract.) This 4% Withdrawal Charge percentage shall be in effect during the next 6 consecutive Participant Account Years. Thereafter, the Withdrawal Charge percentage shall be reduced to 0%. In no event will the cumulative total of all Withdrawal Charges, including those previously assessed against any amount withdrawn from a Participant Account, exceed 9% of total Contributions allocated to that Participant Account.

  • Market Withdrawal means a Person’s Removal or Correction of a distributed product which involves a minor violation that would not be subject to legal action by the FDA or which involves no violation, e.g., normal stock rotation practices, routine equipment adjustments and repairs, etc.

  • Withdrawal Request means an instruction given via the Client's Trader’s Room on the Company website to withdraw funds from the trading account and transfer them to the Client's External Account or the Account of the Client's Authorized Person, as specified in the instruction.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Withdrawal Notice shall have the meaning given in Section 2.1.6.

  • Basic Monthly Earnings means your monthly rate of earnings from the Sponsor in effect immediately prior to the date Disability or Partial Disability begins. However, such earnings will not include bonuses, commissions, overtime pay and extra compensation.

  • Aggregate Targeted Balance With respect to any group of Targeted Principal Classes or Components and any Distribution Date, the amount set forth for such group for such Distribution Date in Schedule V hereto.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.