Fifth Option definition

Fifth Option. Specified Amount of Income The Company will make monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments can be quarterly or at any other frequency chosen, and payments can be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest.
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Fifth Option. SPECIFIED AMOUNT OF INCOME The Company will make monthly payments which will include both principal and interest. Payments will be in the amount chosen. Payments can be quarterly or at any other frequency chosen, and payments can be for different amounts, all subject to the consent of the Company. Payments will start on the Option Date and will continue until the balance is fully paid out. At the death of the Payee any unpaid balance and accrued interest will be paid in one sum. The rate of interest will be set each year by the Company; but the rate will not be less than 3 1/2% per year. Interest will be added each year to the principal and will earn interest. SIXTH OPTION: LIFE INCOME FOR TWO LIVES The Company will make monthly payments. Payments will start on the Option Date and will continue: - While either of two Payees is living, called "Joint and Survivor Life Income"; or - While either of two Payees is living, but for at least 10 years, called "Joint and Survivor Life Income, 10 Years Certain"; or
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Examples of Fifth Option in a sentence

  • To withdraw principal and interest under the Fourth or Fifth Option; or .

  • Payments may be received on either a fixed or a variable basis, or both, except that payments under the Fifth Option must be made on a fixed basis.

  • If the Fifth Option is elected, the Accumulation Value will provide a Fixed Annuity.

  • The table for the Fifth Option is based on an interest rate of 5% per annum.

  • Consultant also agrees that he will have until the earlier of: 1) the 90th day following termination of this Agreement or 2) the expiration date of the respective option to exercise any vested shares under the First Option, Second Option, Third Option, Fourth Option, Fifth Option and Sixth Option.

  • In the selection of a Payment Option the right can be given to the Payee: - To withdraw principal and interest under the Fourth or Fifth Option; or - To withdraw the commuted value of payments certain under the First, Second, or Sixth Option.

  • Each of the First Option, Second Option, Third Option, Fourth Option, and Fifth Option (together, the “Options”) are governed by the Parent’s relevant equity plan and/or award agreement, unless specifically stated otherwise in this Agreement.

  • As an illustration of the immediately preceding sentence, if at the time of Tenant’s exercise of its fifth expansion option, Tenant exercised all of the prior expansion options for all of the Option Space available for expansion as described above, the Fifth Option Space will consist of either (A) the entire 4th floor of the Building, or (B) both the entire 4th and the entire 5th floors of the Building, as determined by Tenant.

  • The table for the Fifth Option is based on an interest rate of 3% per annum.

  • CMA Section 2.1.(e.g. Fourth Option Period – 5 years; Fifth Option Period – 4 years).

Related to Fifth Option

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Shoe Option means the Initial Purchasers’ option to purchase up to seventy five million dollars ($75,000,000) aggregate principal amount of additional Notes as provided for in the Purchase Agreement.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Vested Options means the Options that have vested in accordance with Section 2.2 of this Agreement.

  • Director Option means an Option granted pursuant to Section 6.

  • Related Option means an Option with respect to which a Stock Appreciation Right has been granted.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Company Stock Option means any option to purchase one or more shares of the Company’s Common Stock granted under any of the Company Stock Plans.

  • Rollover Option has the meaning set forth in Section 2.4(a).

  • Optioned Stock means the Common Stock subject to an Option.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • Employee Option means an Option granted pursuant to Section 5.

  • Option means a stock option granted pursuant to the Plan.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Vested Company Option means each Company Option outstanding as of immediately prior to the Effective Time that is vested as of immediately prior to the Effective Time or will vest solely as a result of the consummation of the Merger.

  • Parent Stock Option means any option to purchase Parent Common Stock granted under any Parent Stock Plan.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Parent Option means any option to purchase Parent Common Stock which was granted pursuant to a Parent Option Plan.

  • Incentive Option means an Option which by its terms is to be treated as an “incentive stock option” within the meaning of Section 422 of the Code.