Distribution Requirements definition

Distribution Requirements. If a death benefit becomes payable before the annuity start date, the proceeds must be taken in a lump sum unless we consent to another arrangement within 90 days of receiving due proof of death. In all events, distributions will be made from the contract in accordance with Section 72(s) of the Internal Revenue Code of 1986, as amended. Thus, notwithstanding any other provision of this contract, if any Owner dies before the annuity start date, the proceeds must be distributed to the Beneficiary within five years after the date of such death or distributed over the life (or a period not exceeding life expectancy) of the Beneficiary provided that such distributions begin within one year of such Owner's death. However, if the sole beneficiary is the surviving spouse of the deceased Owner, the contract may be continued (in lieu of paying any death benefit) with the surviving spouse as the sole Owner. If an Owner is a non-natural person, then each Annuitant will be treated as an Owner for purposes of these distribution requirements and any change in or the death of any Annuitant will be treated as the death of the Owner for purposes of these distribution requirements. Moreover, if an Annuitant is also an Owner, then the death of such Annuitant will also be treated as the death of an Owner for purposes of these distribution requirements. AFTER ANNUITY START DATE If any Owner dies on or after the annuity start date, any remaining payments must be distributed at least as rapidly as under the annuity option in effect on the date of such death. If an Annuitant dies on or after the annuity start date, we will pay any remaining guaranteed payments to the beneficiary as provided by the annuity option selected. If an Owner who is not an Annuitant dies while an Annuitant is still living, we will continue to pay the income payments for the lifetime of the Annuitant in the same manner as before the Owner's death. PREMIUM PROVISIONS PAYMENT OF PREMIUMS Premiums are payable at our home office. The initial premium is shown on the Contract Specifications page and is due on the issue date. Subsequent premiums are flexible and may be paid at any time before the annuity start date. Each premium must be at least equal to the minimum subsequent premium payment shown on the Contract Specifications page. The sum of all premiums paid to us may not exceed the cumulative premium limit shown on the Contract Specifications page without our prior approval. The Internal Revenue Code may als...
Sample 1
Distribution Requirements means, as applied to a member of the Universal Music Group, (i) all requirements by the member of the Universal Music Group for DOAs for its own account with respect to Universal Product to be sold by a member of the Universal Music Group and distributed from a location within the United States, and (ii) any requirements for DOAs for a third party’s account for CDs, HDFDs or VRs to be sold and distributed from a location within the United States for as long as a Universal Music Group member has the unilateral contractual right to provide or control the provision of the DOAs to such third party, provided that such Universal Music Group member had such unilateral right as of the Effective Date (it being understood that if the third-party contract requires that the DOA must go to the provider of manufacturing services for such third party, a Universal Music Group member does not unilaterally control the identity of the DOA provider).
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Distribution Requirements means that, immediately prior to each and every permitted Distribution of the Company or the Guarantor, as the case may be, the Guarantor or the Company shall make a payment to the Trustee in an amount equal to such Distribution amount multiplied by 0.17857 times to be applied by the Trustee, on a pro rata basis to the Holders of the Outstanding Securities, for application to the outstanding principal amount of the Outstanding Securities. For purposes of this definition, (a) any payment to the Holders of the Outstanding Securities in satisfaction of the Distribution Requirements shall be deemed made as of the date the same is applied to effectuate a redemption of all or a portion of the Securities with the proceeds thereof in accordance with the terms of Article XI, and (b) any Distribution payable with respect to Equity Interests of the Guarantor may be paid or distributed by the Guarantor to the holders of such Equity Interests upon application of the payment described above to such redemption.
Sample 1

Examples of Distribution Requirements in a sentence

  • Subject to any tax qualification requirements under the Internal Revenue Code, Our then policies and procedures, and subject to the paragraph entitled "Distribution Requirements" of this contract, a Beneficiary may designate another individual or entity to receive, upon the death of the Beneficiary, any remaining interest of the Beneficiary in the contract.

  • Litigation Entitlements shall be distributed to Admitted Group Creditors in accordance with Clause 12 (Post-Restructuring Litigation Recoveries), subject to such Admitted Group Creditor first complying with the Initial Distribution Requirements or the Subsequent Distribution Requirements (as applicable).

  • Beneficiaries of nonqualified contracts may elect this settlement option subject to the Distribution Requirements section of the contract.

  • This coursework is often referred to as the General Education Curriculum or Distribution Requirements.

  • Grant funds must be expended within the Distribution Period schedule as set forth in Attachment A Grant Funds Distribution Requirements to this Agreement for the purposes stated in this Agreement.

  • No more than two courses used to satisfy the Distribution Requirements may be selected from the same prefix (e.g., ARHI, BIO, FVA, ENGL, HUMA, PHIL).

  • The Death Benefit may be taken in one sum or under any of the settlement options then being offered by Us subject, however, to the Distribution Requirements below.

  • Special Distribution Requirements that apply to students in the Lycoming Scholars Program are listed under Honors Program.

  • In order to receive an increase, faculty must meet Yearly Distribution Requirements for each step between merit points on the salary schedule and may not be on a performance improvement plan.

  • The distribution shall comply with the Distribution Requirements of Section 7.2(d)(2).If there is an acceptable domestic relations order in force with respect to the participant, the alternate payee shall receive a portion of the death benefit to the extent provided in the order, but only if the alternate payee has not died.


More Definitions of Distribution Requirements

Distribution Requirements is amended as follows:
Sample 1
Distribution Requirements means the Initial Distribution Requirements or the Subsequent Distribution Requirements, as applicable;
Sample 1
Distribution Requirements. Course requirements included in an instructional program to make sure that the student is well-rounded and gains some perspective outside his or her specific focus or major. DIVISION: An organizational unit within the college or university consisting of two or more related departments.
Sample 1
Distribution Requirements means, as applied to a member of the Universal Music Group, all requirements by the member of the Universal Music Group for DOAs for its own account or for a third party’s account (for so long as the Universal Music Group member has the contractual right to order such third party requirements from Supplier, and such right exists as of the Effective Date) with respect to all Products (a) manufactured or procured by Supplier under the International Manufacturing Agreement, except for (i) Special Projects, and (ii) Direct Distributions; or (b) procured by Customer or Supplier for stock at the Distribution Center. In addition, if the procurement service under Section 7.7 of the International Manufacturing Agreement is terminated by Customer, Customer’s subsequent orders for such Other Existing Formats within the Territory shall be included in the Distribution Requirements.
Sample 1
Distribution Requirements has the meaning set forth in Section 3.1(c).
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Related to Distribution Requirements

  • Certification Requirements means those requirements specified or referenced in this Agreement that you must meet in order to use and maintain the Certification Designation and use the Logo in accordance with the terms of this Agreement.

  • Qualification Requirements means the qualification requirements as set forth in Section-2, Clause 2.1 of this RFP;

  • Risk Retention Requirements means the credit risk retention requirements of Section 15G of the Exchange Act (15 U.S.C. §78o-11), as added by Section 941 of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act.

  • Storage Injection Requirements means all volumes required by the Seller for injection into underground storage, including cushion gas, and for liquification, including fuel used for injection and in liquification plants, or for such other storage projects that may be developed expressly for the protection of supply to high priority users.

  • Data Protection Requirements means all applicable (i) Data Protection Laws, (ii) Privacy Policies and (iii) those terms of any Contracts imposing obligations on the Company or its Subsidiaries with respect to the Company’s collection, use, storage, disclosure, or cross-border transfer of Personal Data.

  • Minimum Participation Requirements means a set of minimum training, risk management, communication and capital or collateral requirements required for Participants in the PJM Markets, as set forth herein and in the Form of Annual Certification set forth as Tariff, Attachment Q, Appendix 1. Participants transacting in FTRs in certain circumstances will be required to demonstrate additional risk management procedures and controls as further set forth in the Annual Certification found in Tariff, Attachment Q, Appendix 1.

  • Design requirements means the written description of the infrastructure facility to be procured pursuant to this article, including:

  • Perfection Requirements means the making or procuring of filings, stampings, registrations, notarisations, endorsements, translations and/or notifications of any Finance Document (and/or any Security created under it) necessary for the validity, enforceability (as against the relevant Obligor or any relevant third party) and/or perfection of that Finance Document.

  • Perfection Requirement or “Perfection Requirements” shall have the meaning set forth in Section 4(j) of this Agreement.

  • Margin Requirement means the amount of money and/ or assets that the Client is required to deposit and/ or hold with the Firm as consideration for entering into a Transaction and/ or maintaining an Open Position on its Account;

  • Bid Submission Requirement means a task a Prospective Contractor must complete when submitting a bid response. These requirements will be distinguished by using the term “shall” or “must” in the requirement.

  • Reporting Requirements As defined in Section 11.15.

  • Listing Requirements means the Main Market Listing Requirements of Bursa Securities.

  • Medicaid Notification of Termination Requirements Any Contractor accessing payments for services under the Global Commitment to Health Waiver and Medicaid programs who terminates their practice will follow the Department of Vermont Health Access, Managed Care Organization enrollee notification requirements.

  • Mandatory City Requirements means those City laws set forth in the San Francisco Municipal Code, including the duly authorized rules, regulations, and guidelines implementing such laws that impose specific duties and obligations upon Contractor.

  • Reporting Requirement By January 31, 2017, the District will provide for OCR’s review and approval the Web Accessibility Policy drafted consistent with Item 1.

  • Eligibility Requirements means, with respect to any Person, that such Person has at least $200,000,000 in capital/statutory surplus or shareholders’ equity (except with respect to a pension advisory firm or similar fiduciary) and at least $600,000,000 in total assets (in name or under management), and is regularly engaged in the business of making or owning commercial real estate loans (or interests therein), mezzanine loans (or interests therein) or commercial loans (or interests therein) similar to the Mortgage Loan.

  • Program Requirements means that Partner has to fulfill certain program requirements as described in detail in the applicable SAP PartnerEdge Model and the PartnerEdge Program Guide.

  • OHS Requirements means all Laws applicable to the Supply and related to occupational health or safety, and all of the City Policies that relate to occupational health or safety, and includes without limitation the WCA;

  • Day-ahead Scheduling Reserves Requirement means the sum of Base Day-ahead Scheduling Reserves Requirement and Additional Day-ahead Scheduling Reserves Requirement.

  • Service Authorization Request means a Provider’s or Enrollee’s request to the Contractor for the provision of a service.

  • Regulation RR means Regulation RR (Credit Risk Retention) promulgated by the Securities and Exchange Commission to implement the credit risk retention requirements of Section 15G of the Securities Exchange Act.

  • Minimum Requirements means the minimum requirements for available commercial structures. The minimum requirements may be found at this link: https://portlandgeneral.com/energy- choices/renewable-power/green-future-impact The minimum requirements may be updated from time to time to reflect PGE’s criteria from its latest Commission accepted renewable request for proposals.

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • Mandatory Requirements means those requirements described herein, which shall be fully satisfied in order for any Proposal to be considered by the City as a qualified Proposal.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.