Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.
Payment Recipient has the meaning assigned to it in Section 11.12(a).
Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.
Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.
Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.
retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;
Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.
Annuity Benefit means a benefit payable by us as described in Part VII.
Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.
Alternate Payee means any spouse, former spouse, child, or other dependent of a Participant who is recognized by a qualified domestic relations order as having a right to receive all, or a portion of, the benefits payable under a Plan with respect to such Participant.
Contingent Annuitant is the natural person who becomes the Annuitant if the Annuitant dies prior to the Income Date.
life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;
ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.
Tax Benefit Payment is defined in Section 3.1(b) of this Agreement.
Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.
Primary Social Security Benefit means, with respect to any member, the primary insurance amount
Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.
Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.
Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.
Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).
Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.
Debit Payment means a particular transaction where a debit is made.
Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.
Qualified Preretirement Survivor Annuity means an annuity which is payable for the life of the Participant's surviving spouse.
Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.
Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.