CERTIFICATE ACCOUNT VALUE definition

CERTIFICATE ACCOUNT VALUE. With respect to each Certificate Account, the sum of the value of all Accumulation Units, plus any amount attributable to the Fixed Account, plus any amount held under a Guaranteed Term Option (GTO) which may be subject to a MVA. CERTIFICATE ANNIVERSARY - Each 12-month anniversary of the Certificate Effective Date. CERTIFICATE EFFECTIVE DATE - The date the first Purchase Payment is applied to the Certificate Account. CERTIFICATE OWNER (OWNER(S)) - The person who possesses all rights under the Certificate Agreement, including the right to designate and change parties named in the Certificate Agreement, Annuity Payment Option, and the Annuity Commencement Date. The Certificate Owner is the person named as owner on the Enrollment Card unless a subsequent change is made. CERTIFICATE YEAR - Each year the Certificate Agreement remains in force commencing with the Certificate Effective Date. CHARITABLE REMAINDER TRUST (CRT) - A charitable remainder annuity trust or a charitable remainder unitrust as those terms are defined in Section 664 of the Code. CODE - The Internal Revenue Code of 1986, as amended. COMPANY - Nationwide Life and Annuity Insurance Company. CONSTANT MATURITY TREASURY RATE(S) OR CMT RATE(S) - Interest rate quotations for 1, 2, 3, 5, 7 and 10 years published by the Federal Reserve Board on a regular basis. The Company uses CMT Rates in its Market Value Adjustment (MVA) Formula because they represent a readily available and consistently reliable interest rate benchmark in financial markets. CONTINGENT ANNUITANT - The Contingent Annuitant may be the recipient of certain rights or benefits under the Certificate Agreement when the Annuitant dies before the Annuitization Date. CONTINGENT BENEFICIARY - The person or entity designated to be the Beneficiary if the named Beneficiary is not living at the time of the death of the Annuitant. CONTINGENT CERTIFICATE OWNER - A Contingent Certificate Owner succeeds to the rights of a Certificate Owner upon the Certificate Owner's death before Annuitization if there is no Joint Certificate Owner. CONTRACT - The Group Flexible Purchase Payment Deferred Variable Annuity issued to the Contract Holder.
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CERTIFICATE ACCOUNT VALUE. With respect to a Certificate Account, the sum of the value of all Accumulation Units attributable to the Certificate Account, plus any amount attributable to the Fixed Account, plus any amount attributable to the Variable Account and held under a Guaranteed Term Option (GTO) which may be subject to Market Value Adjustment. CERTIFICATE EFFECTIVE DATE - With respect to each Certificate Owner, the first date Purchase Payments are credited on the Certificate Owner's behalf to the Contract. CERTIFICATE OWNER (OWNER) - The person who possesses all rights under the Contract, including the right to designate and change any designations of the Certificate Owner, Contingent Certificate Owner, Annuitant, Contingent Annuitant, Beneficiary, Contingent Beneficiary, Annuity Payment Option, and Annuity Commencement Date. The Certificate Owner is the person named as owner in the enrollment form unless a subsequent change is made. CODE - The Internal Revenue Code of 1986, as amended. COMPANY - Nationwide Life Insurance Company.
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CERTIFICATE ACCOUNT VALUE. With respect to a Certificate Account, the sum of the value of all Accumulation Units, plus any amount attributable to the Fixed Account, plus any amount held under a Guaranteed Term Option (GTO) which may be subject to Market Value Adjustment. CERTIFICATE ANNIVERSARY - Each 12-month anniversary of the Certificate Effective Date.
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Examples of CERTIFICATE ACCOUNT VALUE in a sentence

  • OPTIONAL RIDER CHARGES MAY REDUCE A PARTICIPANT'S DEATH BENEFIT AMOUNT TO LESS THAN THE CERTIFICATE ACCOUNT VALUE.

  • CERTIFICATE ACCOUNT VALUE IN THE LOAN ACCOUNT The Certificate Account Value in the Loan Account at any time will be the total of: 1.

  • CERTIFICATE ACCOUNT VALUE The value for each Certificate Account under this contract is the sum of the Participant's Certificate Account Value in the Special DCA Fixed Account, the Loan Account and the Variable Account.

  • IN THE FACE AMOUNT IS REDUCED WITHIN THE FIRST FOURTEEN CERTIFICATE YEARS, A PRO RATA SHARE OF THE APPLICABLE SURRENDER CHARGE AT THAT TIME MAY BE DEDUCTED FROM YOUR CERTIFICATE ACCOUNT VALUE.

  • CERTIFICATE ACCOUNT VALUE The value of a Certificate Account at any time will be: (1) the Variable Account value held on behalf of the Certificate Owner; (2) the Fixed Account value held on behalf of the Certificate Owner; and (3) the value of amounts allocated to GTOs under the Multiple Maturity Account which may be subject to a Market Value Adjustment.

  • CERTIFICATE ACCOUNT VALUE The Certificate Account Value definition and provision is modified to add Certificate Account Value in the Guarantee Period Accounts.

  • CERTIFICATE ACCOUNT VALUE IN THE GUARANTEE PERIOD ACCOUNTS Your Certificate Account Value in Guarantee Period Accounts at any time will be the total of: 1.

  • A PARTIAL SURRENDER CHARGE WILL ALSO BE SUBTRACTED FROM YOUR CERTIFICATE ACCOUNT VALUE IF YOU MAKE A PARTIAL SURRENDER OF THIS CERTIFICATE.

  • CERTIFICATE ACCOUNT VALUE - With respect to a Certificate Account, the sum of the value of all Accumulation Units attributable to the Certificate Account, plus any amount attributable to the Fixed Account, plus any amount attributable to the Variable Account and held under a Guaranteed Term Option (GTO) which may be subject to Market Value Adjustment.


More Definitions of CERTIFICATE ACCOUNT VALUE

CERTIFICATE ACCOUNT VALUE and "Certificate Anniversary ", respectively . To the extent any provisions contained in this rider are contrary to or inconsistent with those of the Contract to which it is attached, the provisions of this rider will control the Contract accordingly. This rider is only available to Contracts with Annuxxxxxx xxx are age 80 or less at the time this rider is elected. The benefits described in this rider will cease upon termination of the Contract.
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CERTIFICATE ACCOUNT VALUE. Certificate Anniversary", and "Certificate Effective Date", respectively. To the extent any provisions contained in this rider are contrary to or inconsistent with those of the Contract to which it is attached, the provisions of this rider will control those of the Contract accordingly. The benefits described in this rider will cease upon termination of the Contract. THE "DEFINITIONS" SECTION OF THE CONTRACT IS MODIFIED WITH THE ADDITION OF THE FOLLOWING: Guaranteed Annuitization Value (GAV) - The amount that may be used to provide a guaranteed level of determinable lifetime annuity payments. The GAV affords protection against negative investment performance, which could result in a Contract Value that is less than the GAV at the time of Annuitization. DETERMINING THE GAV ------------------- This rider permits the Owner to elect one of two optional methods for determining his/her GAV: 5% INTEREST GAV --------------- The GAV will be equal to (a) - (b), but will never be greater than 200% of all Purchase Payments, where:
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CERTIFICATE ACCOUNT VALUE. Certificate Anniversary", and "Certificate Effective Date", respectively. To the extent any provisions contained in this rider are contrary to or inconsistent with those of the Contract to which it is attached, the provisions of this rider will control those of the Contract accordingly. The benefits described in this rider will cease upon termination of the Contract. THE "DEFINITIONS" SECTION OF THE CONTRACT IS MODIFIED WITH THE ADDITION OF THE FOLLOWING: Guaranteed Annuitization Value (GAV) - The amount that may be used to provide a guaranteed level of determinable lifetime annuity payments. The GAV affords protection against negative investment performance, which could result in a Contract Value that is less than the GAV at the time of Annuitization. DETERMINING THE GAV This rider permits the Owner to elect one of two optional methods for determining his/her GAV:
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CERTIFICATE ACCOUNT VALUE. With respect to a Certificate Account, the sum of the value of all amounts allocated to the Guaranteed Period Options, which may be subject to a MVA, plus any amounts allocated to the Transition Account. CERTIFICATE ANNIVERSARY - Each 12-month anniversary of the Certificate Effective Date. CERTIFICATE EFFECTIVE DATE - The first date Purchase Payments are credited to the Certificate Account. CERTIFICATE OWNER (OWNER(S)) - The person who possesses all rights under the Certificate Agreement, including the right to designate and change parties named in the Certificate Agreement, Annuity Payment Option, and the Annuity Commencement Date. The Certificate Owner is the person named as owner on the Enrollment Card unless a subsequent change is made. CODE - The Internal Revenue Code of 1986, as amended. COMPANY - Nationwide Life Insurance Company.
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Related to CERTIFICATE ACCOUNT VALUE

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Certificate Account Deposit Date As to any Distribution Date, the Business Day prior thereto.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • 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.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

  • Note Account As defined in the Indenture.

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE5, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE5." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

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

  • 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.

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • REO Account The account or accounts maintained by the Master Servicer in respect of an REO Property pursuant to Section 3.23.