CERTIFICATE MAINTENANCE CHARGE definition

CERTIFICATE MAINTENANCE CHARGE. [The Certificate Maintenance Charge is $30 each Certificate Year. The Company reserves the right to change the Certificate Maintenance Charge but it will not exceed $60 per Certificate Year. During the Accumulation Period, if the Certificate Value on the Certificate Anniversary is at least $50,000, then no Certificate Maintenance Charge will be deducted. During the Accumulation Period, a total withdrawal is made on other than a Certificate Anniversary and the Certificate Value for the Valuation Period during which the total withdrawal is made is less than $50,000, the full Certificate Maintenance Charge will be deducted at the time of the total withdrawal. If at annuitization, the Annuity Date is not the Certificate Anniversary and the Certificate Value on the Annuity Date is less than $50,000, then the full Certificate Maintenance Charge will be deducted on the Annuity Date. During the Annuity Period, no Certificate Maintenance Charge will be deducted.]
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CERTIFICATE MAINTENANCE CHARGE. [We charge [$36] to cover a portion of Our ongoing Certificate maintenance expenses. The charge is incurred at the beginning of the Certificate Year and is deducted on each Certificate Anniversary and at the time of total surrender.] TRANSFER CHARGE [Currently none, however, We reserve the right to charge [$25] for a transfer if a Certificate Owner makes more than [12] transfers per Certificate Year.] SURRENDER CHARGE [At the time of each partial withdrawal or at total surrender a contingent deferred sales charge is imposed as a percentage of each Purchase Payment during the [seven] years after the date of its payment, as follows: Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 7% 6% 5% 4% 3% 2% 1% Thereafter 0%]. INITIAL PURCHASE PAYMENT ALLOCATION Currently, Certificate Owners can select [7] Sub-accounts [and the Fixed Account]. We reserve the right to increase or decrease the number of available Sub-accounts. The minimum a Certificate Owner may allocate to any Sub-account [or the Fixed Account] is [10%] of any Purchase Payment. An initial Purchase Payment may be invested as follows: [Y - 1 Y - 2 Y - 3 X - 1 X - 2 X - 3 Fixed Account] TRANSFER GUIDELINES NUMBER OF TRANSFERS AND TRANSFER CHARGE: [Currently, Certificate Owners are permitted [12] transfers per Certificate Year during the Accumulation Period and [1] transfer every [6] months during the Annuity Period. We reserve the right to change, upon notice, the frequency of transfers a Certificate Owner can make. We also reserve the right to impose a charge for any transfer in excess of [12] per Certificate Year. The transfer charge is shown in the Charges section of the Schedule.] MINIMUM AMOUNT TO BE TRANSFERRED: [None] MINIMUM AMOUNT WHICH MUST REMAIN IN A SUB-ACCOUNT AFTER TRANSFER: [None] [LIMITATIONS ON TRANSFERS FROM FIXED ACCOUNT: Transfers during a Certificate Year from the Fixed Account to the Variable Account are limited to [25%] of the Fixed Account Value at the beginning of the Certificate Year. This limitation will be waived if a systematic program of monthly transfers has been established.] PARTIAL WITHDRAWALS A Certificate Owner may make partial withdrawals during the Accumulation Period without
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CERTIFICATE MAINTENANCE CHARGE. None MORTALITY AND EXPENSE RISK CHARGE: Equal, on an annual basis, to 1.45% of the average daily net asset value of the Separate Account. ADMINISTRATION CHARGE: Equal, on an annual basis, to .15% of the average daily net asset value of the Separate Account.
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Examples of CERTIFICATE MAINTENANCE CHARGE in a sentence

  • CERTIFICATE MAINTENANCE CHARGE We deduct a certificate maintenance charge from the Certificate Value by cancelling Accumulation Units from each applicable Sub-account to reimburse Us for expenses relating to the maintenance of the Certificate.

  • CERTIFICATE MAINTENANCE CHARGE: We charge $36 to cover a portion of Our ongoing Certificate maintenance expenses.

  • ANNUAL CERTIFICATE MAINTENANCE CHARGE DEDUCTION FOR ANNUAL CERTIFICATE MAINTENANCE CHARGE The Company deducts an Annual Certificate Maintenance Charge from the Certificate Value or Annuity Payments to reimburse it for expenses relating to maintenance of the Certificate.

  • CERTIFICATE MAINTENANCE CHARGE We deduct a certificate maintenance charge from the Certificate Value by cancelling PAGE 12 Accumulation Units from each applicable Sub-account to reimburse Us for expenses relating to the maintenance of the Certificate.

  • DVA(1)/CERT 13 CERTIFICATE MAINTENANCE CHARGE We deduct a Certificate Maintenance Charge from the Certificate Value by cancelling Accumulation Units from each applicable Sub-account to reimburse Us for expenses relating to the maintenance of the Certificate.

  • CERTIFICATE MAINTENANCE CHARGE: $30.00 assessed on each Certificate Holder's Anniversary if the total accumulated value in the Contract on the anniversary is less than $75,000.

  • CERTIFICATE MAINTENANCE CHARGE We deduct a Certificate Maintenance Charge from the Certificate Value by cancelling Accumulation Units from each applicable Sub-account to reimburse Us for expenses relating to the maintenance of the Certificate.

  • CERTIFICATE MAINTENANCE CHARGE - We deduct an annual Certificate Maintenance Charge shown on the Certificate Schedule.

Related to CERTIFICATE MAINTENANCE CHARGE

  • Maintenance Charges means the charges payable by the applicant to the Maintenance Agency in accordance with the demand raised by the Maintenance Agency for the maintenance and up keep of the said building/ said complex, including common areas and facilities but does not include; (a) the charges for actual consumption of utilities in the Dwelling Unit including but not limited to electricity, water, which shall be charged based on actual consumption on monthly basis and (b) any statutory payments, taxes, with regard to the Dwelling Unit/ said building/said complex.

  • Yield Maintenance Charge With respect to any Mortgage Loan or Serviced Companion Loan, the yield maintenance charge or prepayment premium, if any, payable under the related Note in connection with certain prepayments.

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or

  • Finance charge means that term as defined in section 106 of the truth in lending act, 15 USC 1605.

  • Yield Maintenance Amount means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Called Principal of such Note over the sum of (i) such Called Principal plus (ii) interest accrued thereon as of (including interest due on) the Settlement Date with respect to such Called Principal. The Yield-Maintenance Amount shall in no event be less than zero.

  • Spread Maintenance Premium means, with respect to any payment or prepayment, an amount equal to the product of the following: (i) the LIBOR Margin, the Alternate Rate Spread or the Base Rate Spread then applicable to each such future installment of interest, multiplied by (ii) the principal amount of the Loan so prepaid, and multiplied by (iii) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid through and including December 14, 2019, and the denominator of which is 360.

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Yield Maintenance Account The separate trust account maintained and held by the Trustee pursuant to Section 3.16, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust on behalf of the Class A Certificateholders, and which account provides that the Trustee may make, or cause to be made, withdrawals therefrom in accordance with Section 3.16.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of this Note, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments; and

  • Principal Balance Certificates Each of the Class A-1, Class A-2, Class A-3, Class X-0, Xxxxx X-0, Class A-SB, Class A-S, Class B, Class C, Class D, Class E, Class F and Class NR Certificates.

  • Certificate Interest Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Interest Distributable Amount for such Payment Date and the Certificate Interest Carryover Shortfall for such Payment Date.

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • Certificate Principal Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the sum of (i) the Certificate Monthly Principal Distributable Amount and (ii) any outstanding Certificate Principal Carryover Shortfall for the preceding Payment Date, over (y) the amount in respect of principal that is actually paid as principal on the Certificates on such Payment Date.

  • Prepayment Charge Period As to any Mortgage Loan, the period of time during which a Prepayment Charge may be imposed.

  • Class M-1 Applied Realized Loss Amount As of any Distribution Date, the sum of all Applied Realized Loss Amounts with respect to the Mortgage Loans which have been applied to the reduction of the Certificate Principal Balance of the Class M-1 Certificates.

  • Principal Balance Certificate Any of the Class A-1, Class A-2, Class A-3, Class A-0, Xxxxx X-0, Class A-SB, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G and Class PEX Certificates.

  • Realized Losses means, with respect to any Receivable that becomes a Liquidated Receivable, the excess of the Principal Balance of such Liquidated Receivable over Net Liquidation Proceeds to the extent allocable to principal.

  • Class A Certificate Principal Balance As of any date of determination, the sum of the Class A-1 Certificate Principal Balance, the Class A-2A Certificate Principal Balance, the Class A-2B Certificate Principal Balance, the Class A-2C Certificate Principal Balance, the Class A-2D Certificate Principal Balance and the Class R Certificate Principal Balance.

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.

  • Class B-1 Applied Realized Loss Amount As of any Distribution Date, the sum of all Applied Realized Loss Amounts with respect to the Mortgage Loans which have been applied to the reduction of the Certificate Principal Balance of the Class B-1 Certificates.

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Class M-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class M-1 Certificates.

  • Certificate Monthly Principal Distributable Amount means, with respect to any Payment Date, the Certificate Percentage of the Principal Distributable Amount for such Payment Date.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Certificate Rate means 0.00% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Mezzanine Certificates Collectively, the Class M-1 Certificates, the Class M-2 Certificates, the Class M-3 Certificates, the Class M-4 Certificates, the Class M-5 Certificates, the Class M-6 Certificates, the Class M-7 Certificates, the Class M-8 Certificates, the Class M-9 Certificates and the Class M-10 Certificates.