Group contractholder definition

Group contractholder means the person to which a group contract has been issued.
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Group contractholder means the person to whom a group contract has been issued.
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Group contractholder. The entity with ownership rights under the Group Contract as shown on the Contract Data Page. Guaranteed Annual Withdrawal (XXX) – The annualized withdrawal amount that is guaranteed for the lifetime of the Covered Person(s), subject to the terms of this Certificate. Guaranteed Annual Withdrawal Percentage (XXX%) – The percentage of the Benefit Base that determines the amount of the XXX. This percentage is based on the age of the Covered Person(s) at the time of the first Installment determined by calculating the 10 Year Treasury Yield multiplied by the Age Adjustment, subject to the maximum and minimum percentages described in Section 5.01. If there are two Covered Persons the percentage is based on the age of the younger Covered Person and the Joint Withdrawal Adjustment, pursuant to Section 5.01. Guarantee Benefit Fee – The fee described in Section 8. Guaranteed Lifetime Withdrawal Benefit (GLWB) – A payment option offered by Certificate that pays Installments during the life of the Covered Person(s). The Covered Person(s) will receive periodic payments in either monthly, quarterly, semiannual, or annual Installments that in total over a twelve month period equal the XXX. Initial Calculation – The calculation used to determine the XXX% on the Initial Installment Date pursuant to Section 5.01. Initial Installment Date – The date of the first Installment under the GLWB, which must be a Business Day. Installments – Periodic payments of the XXX made pursuant to Section 5.03. Installment Frequency Options – The options listed in Section 5.03.
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Examples of Group contractholder in a sentence

  • However, we can, with the agreement of the Group Contractholder, make changes to the Group Contract and this Certificate without your consent.

  • Cessation Options On the Contribution Cessation Date, the Group Contractholder may elect a Cessation Option.

  • If the Group Contractholder Terminates the Contract If the Group Contractholder terminates the Group Contract, all benefits, rights, and privileges provided by the Group Contract, including without limitation, the GLWB shall terminate.

  • Great-West reserves the right to change the frequency of the deduction, but will notify the GLWB Elector and the Group Contractholder in writing at least thirty (30) calendar days prior to the change.

  • Prior to the Group Contract termination date, Great-West and Group Contractholder may agree to an alternate Group Contract termination date.

  • Great-West will notify the Group Contractholder whenever the Covered Fund(s) are changed.

  • No such modification will, without the written consent of the Group Contractholder, affect the terms, provisions, or conditions of the Certificate, which are or may be applicable to Certificate Contributions made prior to the date of such modification.

  • Subject to the provisions of Section 9.8, payments will only be made if then available to the Payee under the terms and provisions of the Plan and the Code sections governing the Plan as determined by the Group Contractholder.

  • An application, report, Request, election, direction, notice or demand by the Group Contractholder, any GLWB Elector, or other Covered Person(s), if applicable, will be made in a form satisfactory to Great-West.

  • GAWs before age 59 1⁄2 may result in certain tax penalties, and may not be permissible while the Certificate Owner is still actively employed by the Group Contractholder.

Related to Group contractholder

  • Group contract means a contract for health care services which by its terms limits eligibility to members of a specified group. The group contract may include coverage for dependents.

  • Group Company means any one of them;

  • Seller’s Group means the Seller and each subsidiary undertaking, parent undertaking and ultimate shareholder of the Seller (but excluding any Group Company);

  • Contract Holder means the person to whom the Benefit Plan is issued. Any other person approved for coverage with the Contract Holder under this plan is a dependent. Under Group coverage, the Contract Holder is the Member who is eligible for coverage because of his or her affiliation with a Group.

  • Group Companies means the Company and its Subsidiaries.

  • Target Company means each of the Company and its direct and indirect Subsidiaries.

  • Service contract holder or "contract holder" means a person who is the purchaser or holder of a service contract.

  • Key Sub-Contractor means any Sub-Contractor: listed in Framework Schedule 7 (Key Sub-Contractors); which, in the opinion of the Authority and the Customer, performs (or would perform if appointed) a critical role in the provision of all or any part of the Services; and/or with a Sub-Contract with a contract value which at the time of appointment exceeds (or would exceed if appointed) 10% of the aggregate Call Off Contract Charges forecast to be payable under this Call Off Contract;

  • Sub-Contractor means the person named in the Contract for any part of the works or any person to whom any part of the contract has been sublet by the contractor with the consent in writing of the Engineer-in-charge and will include the legal representatives, successors and permitted assigns of such persons.

  • Contract employee means a probationary faculty employee or a grant- funded employee hired on a year-to-year basis in accordance with Education Code 87470.

  • Company Service Provider means each employee, officer, director, or other service provider of any of the Company Group Members.

  • Transferred Entities means the entities set forth on Schedule 1.9.

  • Transferring Former Supplier Employees in relation to a Former Supplier, those employees of the Former Supplier to whom the Employment Regulations will apply on the Relevant Transfer Date; and

  • Management Company Employee means an individual employed by a Person providing management services to the Company which are required for the ongoing successful operation of the business enterprise of the Company, but excluding a Person engaged in Investor Relations Activities;

  • Acquired Company means any business, corporation or other entity acquired by the Company or any Subsidiary.

  • Transferring Supplier Employees means those employees of the Supplier and/or the Supplier’s Sub-Contractors to whom the Employment Regulations will apply on the Service Transfer Date.