Deferment of definition

Deferment of the first payment of the consumer credit” means the right of the Recipient of a Consumer Credit to defer the first payment of the consumer credit by paying the Interest and Monthly administration fee for the deferment period. Deferment of the first payment of the consumer credit means a service provided by the Organizer that can be used by the Recipient of a Consumer Credit. If the Recipient of the Consumer Credit uses this service, this service shall in no case (i) be treated as a modification (extension) of the term of the Consumer Credit Agreement under Section 9 of this Agreement; (ii) the Special Terms and Conditions of the Consumer Credit (Loan amount and Interest) will not be modified and only the first payment of the consumer credit will be deferred, and (iii) will not be considered as a debt restructuring.

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Deferment of. Payments Any amounts payable as a result of loans, full surrender, or partial surrenders (i.e. withdrawals) will be paid within 7 calendar days after we receive your Request. However, payment of amounts from the Sub-Account(s) may be postponed until the next Valuation Day. Additionally, we reserve the right to defer the payment of such amounts from the Fixed Account, Holding Account, and Indexed Account for up to 6 months from the date we receive your Request. During any such deferred period, the amount payable will bear interest as required by law. However, a loan or partial surrender for payment of premium to us will not be deferred. Modified Endowment Only with your Election, provided at the time of application or a later date, will this Policy be allowed to become a modified endowment contract under the Internal Revenue Code. Otherwise, if at any time the premiums paid under this Policy exceed the limit for avoiding modified endowment contract status, the excess premium will be held in a separate deposit fund, credited with interest, and will be used to pay future premium payments. The funds held in the separate deposit fund are not considered part of your Accumulation Value, and any interest may be taxable and you should consult a tax advisor if you have questions regarding this. If you instead elect to have the excess premium refunded to you, we will refund the excess premium to you with interest within sixty days after the end of the Policy Year in which the premium was received. The interest rate used on any refund or credited to the separate deposit fund created by this provision will be a rate of interest that we declare from time to time. Any interest may be taxable to you. Payment of Proceeds Proceeds mean the amount payable:

Deferment of. PAYMENTS We may defer making payments from the Fixed Account Options for up to six (6) months. Interest, subject to state requirements, will be credited during the deferral period. SUSPENSION OF PAYMENTS We may suspend or postpone any payments from the Subaccounts if any of the following occur:

Examples of Deferment of in a sentence

Deferment of principal payments (subject to rights of any Holder).
Deferment of prepayment results in the same obligations as paying of prepayment The balance of rents are expected in accordance with the published due dates.
All Deferment of Benefits forms must be submitted at least 60 days prior to the start of an Academic Year.
Deferment of principal payments (sub- ject to rights of any Holder(s)).
The Purchaser may submit a Deferment of Benefit Request form to the Program on behalf of the Beneficiary during any year the Program would disburse Educational Benefits on the Contract, but the Program must distribute all benefits within 6 years of the Benefit Use Year, except as provided by the Contract.
Deferment of Payments We will pay any amounts due from the Variable Account under this Contract within seven days, unless: * the New York Stock Exchange is closed for other than usual weekends or holidays, or trading on such Exchange is restricted; * an emergency exists as defined by the Securities and Exchange Commission; or * the Securities and Exchange Commission permits delay for the protection of contractholders.
Deferment of possession of the site (where possession by Sections does not apply) Clause 2.5 applies/does not apply*.
Deferment of Payments We will pay any amounts due from the Variable Account under this Contract within seven days, unless: # the New York Stock Exchange is closed for other than usual weekends or holidays, or trading on such Exchange is restricted; # an emergency exists as defined by the Securities and Exchange Commission; or # the Securities and Exchange Commission permits delay for the protection of Contract holders.
Any deferment of payments will be subject to the "Deferment of Payments" provision.
The Purchaser may submit a Deferment of Benefit Request form to the Program on behalf of the Beneficiary during any year the Program would disburse Educational Benefits on the Contract, but the Program must begin to distribute benefits within 6 years of the Benefit Use Year, except as provided by the Contract.

More Definitions of Deferment of

Deferment of. Payments We will pay any amounts due from the Variable Account under this Contract within seven days, unless: # the New York Stock Exchange is closed for other than usual weekends or holidays, or trading on such Exchange is restricted; # an emergency exists as defined by the Securities and Exchange Commission; or # the Securities and Exchange Commission permits delay for the protection of contractholders. We reserve the right to postpone payments or transfers from the Fixed Account Options for up to six months. If we elect to postpone payments or transfers from the Fixed Account Options for 10 days or more, we will pay interest as required by applicable law. Any interest would be payable from the date the payment or transfer request is received by us to the date the payment or transfer is made.

Deferment of. PAYMENTS We will pay any amounts due from the Variable Account under this Contract within seven days, unless: