Enhancement Period definition

Enhancement Period. [10] Contract Years following the Rider Effective Date. ENHANCEMENT RATE: [7.00%] Age Annual Income Percentage --------------- ------------------------ ANNUAL INCOME PERCENTAGE: [through age 64] [3.50%] [65-74] [4.00%] [75-79] [4.50%] [80 and older] [5.50%] BENEFIT BASE MAXIMUM: [$4,000,000] MAXIMUM ADDITIONAL PURCHASE PAYMENTS: [$25,000] CONTRACT VALUE ALLOCATION: While this rider is in effect, the full Contract Value must be allocated to an allocation plan approved by us for use with this rider. ICC13-70257 Minnesota Life 1 DEFINITIONS BENEFIT BASE The value that is used to determine the amount of Guaranteed Annual Income (GAI) available for withdrawal under this rider. In no event will the Benefit Base exceed the Benefit Base Maximum as shown in the Rider Specifications. BENEFIT BASE ENHANCEMENT The dollar amount added to the Benefit Base on any Contract Anniversary during the Enhancement Period when there are no withdrawals in the prior Contract Year. BENEFIT BASE RESET The Benefit Base is reset on any Contract Anniversary where the Contract Value is greater than the Benefit Base after application of the Benefit Base Enhancement, if any. The Benefit Base will increase to the Contract Value, but will not exceed the Benefit Base Maximum. The Benefit Base will continue to be eligible for an increase due to a Benefit Base Reset on each Contract Anniversary until a Benefit Base Reset is declined as described in the Annual Rider Charge section. DESIGNATED LIFE The person listed in the Rider Specifications upon whose lifetime, along with the Joint Designated Life, will be used to determine the benefits under this rider. The Designated Life is the Owner of the contract. If the Owner of the contract is other than a natural person, such as a trust or other similar entity, the Designated Life is the Annuitant. A Designated Life may be removed due to divorce but otherwise may not be added or changed after the Rider Effective Date. ENHANCEMENT BASE The amount that is multiplied by the Enhancement Rate to calculate any applicable Benefit Base Enhancement. The Enhancement Base will not exceed the Benefit Base Maximum as shown in the Rider Specifications. GUARANTEED ANNUAL INCOME (GAI) The maximum amount that can be withdrawn in any Contract Year after the Benefit Date without affecting the Benefit Base, Enhancement Base, or the GAI in future Contract Years. GUARANTEED INTEREST OPTIONS A type of investment option that provides an interest rate guaranteed for a specifi...
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Enhancement Period. [12] Contract Years following the Rider Effective Date. Enhancement Rate: [7.00%]
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Enhancement Period. [10] Contract Years following the later of the Rider Effective Date or the date of the most recent Benefit Base Reset. ENHANCEMENT RATE: [5.50%]
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Examples of Enhancement Period in a sentence

  • The Administrative Agent is authorized at any time (i) when an Amortization Event exists or (ii) during a Level Three Enhancement Period, to date and to deliver to the Collection Banks the Collection Notices.

  • At any time after the 30th day following the first day of a Level Three Enhancement Period, Originator will not direct any Collections to be remitted to any Collection Account not subject at all times to a Collection Account Agreement.

  • Each such audit shall be at the sole cost of such Seller Party, provided that such Seller Party shall be required to pay for (A) during a Level One Enhancement Period, not more than one such audit per year, (B) during a Level Two Enhancement Period, not more than two such audits per year and (C) during a Level Three Enhancement Period, an unlimited number of such audits per year.

  • On the date which is 30 days after the first day of a Level Three Enhancement Period, all Collection Accounts shall be Specified Accounts and such Specified Accounts shall be subject to the requirement set forth in clause (v) above.

  • During the Enhancement Period, Audubon shall, at its own cost and expense, but subject to adequate funding, complete the preservations, enhancements, and improvements described in the approved Site Plan for the Habitat Restoration Site.

  • At any time after the 30th day following the first day of a Level Three Enhancement Period, such Seller Party will not, and will not permit the Originator to, direct any Collections to be remitted to any Collection Account not subject at all times to a Collection Account Agreement.

  • If the five-year Enhancement Period becomes an insufficient amount of time to implement the proposed improvements, due to unforeseen or unavoidable circumstances such as flood, drought, delay or unavailability of supplies, government restrictions, etc., the parties may agree in writing to extend the Enhancement Period.

  • The dollar amount added to the Benefit Base on any Contract Anniversary during the Enhancement Period when there are no withdrawals in the prior Contract Year.

  • The Enhancement Base and Enhancement Period will not be affected by a Benefit Base Reset.

  • Related fees are due and payable annually in advance of commencement of the applicable Enhancement Period.


More Definitions of Enhancement Period

Enhancement Period means the period of years during which a Participant shall be eligible to receive an Enhanced Rate of Interest on his Account balance as established under Section 5.2. Such period shall equal the lesser of (i) the number of Years of Service completed by the Participant prior to February 1, 1996, rounded to the next higher whole year, or (ii) ten years.
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Enhancement Period means the period beginning on the date of the consummation of the Acquisition and ending on the last Trading Day of the seventh full Financial Year after the date of the consummation of the Acquisition;
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Enhancement Period means the period of time beginning with a Change in Control and ending on the date which is the second anniversary of such Change in Control.
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Related to Enhancement Period

  • Agreement Period means the period between the Agreement Date and the Expiry Date, unless terminated earlier on the Termination Date;

  • Payment Period means the three months following each Collection Quarter.

  • Development Period means the period from the date of this Agreement until the Appointed Date;

  • Senior Enhancement Percentage With respect to any Distribution Date, the percentage obtained by dividing (x) the sum of (i) the aggregate Class Certificate Balance of the Subordinated Certificates and (ii) the Subordinated Amount (in each case after taking into account the distributions of the Principal Distribution Amount for such Distribution Date) by (y) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date.

  • Event Period shall have the meaning assigned to such term in Section 7.2 hereof.

  • Adjustment Period means the period from the Effective Date up to and including the Expiry Time;

  • Investment Period means, and shall be equal to, the Standard Investment Period.

  • Repayment Period means the period beginning on the Loan Commencement Date and continuing for 36 calendar months.

  • Program Period means the period of time which the department intends to support the program without requiring the recompetition for funds. The program period is specified within the grant application.

  • Minimum Credit Enhancement Test With respect to any Payment Date, a test that will be satisfied if the Subordinate Percentage is greater than or equal to 6.00%.

  • Postponement Period has the meaning ascribed to such term in Section 2.1(b).

  • Settlement Period has the meaning specified therefor in Section 2.02(d)(i) hereof.

  • Applicable Measurement Period means the most recently completed four consecutive fiscal quarters of the Issuer immediately preceding the Applicable Calculation Date for which internal financial statements are available.

  • Consent Period has the meaning specified in Section 2.10.

  • Curtailment Period means the period of time, as measured using current Settlement Intervals, during which generation from the Facility is reduced pursuant to a Curtailment Order; provided that the Curtailment Period shall be inclusive of the time required for the Facility to ramp down and ramp up.

  • Senior Specified Enhancement Percentage As of any date of determination, 38.00%.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Recoupment Period means the three fiscal years completed immediately preceding the date of any applicable Recoupment Trigger Date. Notwithstanding the foregoing, the Recoupment Period additionally includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following those three completed fiscal years, provided that a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine (9) to twelve (12) months would be deemed a completed fiscal year.

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Special Enrollment Period means a period of time allowed under this Plan, other than the eligible person’s Initial Enrollment Period or an Open Enrollment Period, during which an eligible person can request coverage under this Plan as a result of certain events that create special enrollment rights.

  • Controlled Accumulation Period Factor means, for each Monthly Period, a fraction, the numerator of which is equal to the sum of the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series, and the denominator of which is equal to the sum (without duplication) of (a) the Series Invested Amount as of the last day of the prior Monthly Period, (b) the series invested amounts as of the last day of the prior Monthly Period of all outstanding Series (other than Series 2022-2) that are not expected to be in their revolving periods, and (c) the series invested amounts as of the last day of the prior Monthly Period of all other outstanding Series that are not Principal Sharing Series and are in their revolving periods.

  • Credit Enhancement Percentage For any Distribution Date, the percentage equivalent of a fraction, the numerator of which is the sum of the aggregate Certificate Principal Balances of the Mezzanine Certificates and the Class CE Certificates, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans, calculated after taking into account distributions of principal on the Mortgage Loans and distribution of the Principal Distribution Amount to the Certificates then entitled to distributions of principal on such Distribution Date.

  • Discount Period means, with respect to any Settlement Date or the Liquidity Termination Date, the period from and including the preceding Settlement Date (or if none, the date that the first Incremental Purchase is made hereunder) to but not including such Settlement Date or Liquidity Termination Date, as applicable.

  • Controlled Accumulation Period means, unless a Pay-Out Event shall have occurred prior thereto, the period commencing at the close of business on the last day of the February 2022 Monthly Period or such later date as is determined in accordance with subsection 4.03(c) and ending on the first to occur of (a) the commencement of the Early Amortization Period, (b) the payment in full of the Invested Amount and (c) the Expected Final Payment Date.

  • Standard Investment Period means the period beginning with the first day of any purchase or acquisition of Economic Development Property and ending five (5) years after the Commencement Date.

  • Subsequent Reset Period means the period from (and including) the Second Reset Date to (but excluding) the next Subsequent Reset Date, and each successive period from (and including) a Subsequent Reset Date to (but excluding) the next succeeding Subsequent Reset Date; and