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 GUARANTEED ANNUAL INCOME (GAI) The maximum amount that can be withdrawn in any Contract Year after the Benefit Date without affecting the Benefit Base, Enhancement Base, or the GAI in future Contract Years.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...
Sample 1
Enhancement Period. [12] Contract Years following the Rider Effective Date. Enhancement Rate: [7.00%]
Sample 1Sample 2
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;
Sample 1

Examples of Enhancement Period in a sentence

  • By opting out of an Automatic Annual Step-up, you will continue to be eligible for the 5% Enhancement through the end of the current Enhancement Period, but the percentage charge could increase to the then current charge on 5% Enhancements after the 10th Benefit Year anniversary.

  • As stated above, if you decline an Automatic Annual Step-up during the first ten Benefit Years, you will continue to be eligible for the 5% Enhancement through the end of the current Enhancement Period, but the charge could increase to the then current charge on any 5% Enhancements after the 10th Benefit Year anniversary.

  • 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.

  • We will calculate the Enhancement Value on each Rider Date Anniversary if the preceding Benefit Year is during the Enhancement Period shown on the Rider Specifications, except if a Withdrawal occurred in that Benefit Year.

  • 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.

  • The preceding Benefit Year is during the Enhancement Period, which begins on the Rider Date[ and restarts upon an Automatic Annual Step-Up].

  • 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.

  • A new 10-year Enhancement Period will begin each time an Automatic Annual Step-up to the Contract Value occurs.

  • A new 10-year Enhancement Period will begin each time an Automatic Annual Step-Up to the Contract Value occurs.

  • The preceding Benefit Year is during the Enhancement Period, which begins on the Rider Date and restarts upon an Automatic Annual Step-Up.


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.
Sample 1
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.
Sample 1
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%]
Sample 1

Related to Enhancement Period

  • Agreement Period shall have the meaning ascribed thereto in Clause 3.2 of this Agreement.

  • 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.

  • Development Period Security shall have the meaning set forth in Section 6.1(a) 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 set forth in Section 3.05(d)(ii).

  • Curtailment Period means the period of time during which Seller reduces generation from the Project, pursuant to a Curtailment Order. The Curtailment Period shall be inclusive of the time required for the Project to ramp down and ramp up; provided that such time periods to ramp down and ramp up shall be consistent with the Ramp Rate designated in the Cover Sheet.

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

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

  • Disbursement Period means the period during which Grant Funds may be disbursed.

  • 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 1997-1) 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.

  • 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