GUARANTEED INTEREST definition
GUARANTEED INTEREST. RATE - The effective annual interest rate which we will credit for a specified Guarantee Period.
GUARANTEED INTEREST shall have the meaning ascribed thereto in the preamble of this Note.
GUARANTEED INTEREST. DIVISION - An investment option available in the General Account, an account which contains all of our assets other than those held in our Variable Separate Accounts.
Examples of GUARANTEED INTEREST in a sentence
The Holder shall effect conversions by delivering to the Company a Notice of Conversion, the form of which is attached hereto as Annex A (each, a “Notice of Conversion”), specifying therein the Principal Amount and/or the Guaranteed Interest amount of this Note to be converted and the date on which such conversion shall be effected (such date, the “Conversion Date”).
To effect conversions hereunder, the Holder shall not be required to physically surrender this Note to the Company unless the entire Principal Amount and Guaranteed Interest amount of this Note, plus all accrued and unpaid Default Rate interest thereon, has been so converted.
After the occurrence of any Event of Default that results in the eventual acceleration of this Note, in addition to the Guaranteed Interest rate on this Note, shall accrue at the lesser of the Default Rate or the maximum rate permitted under applicable law.
Default Rate interest shall be calculated on the basis of a 360-day year, consisting of twelve (12) thirty (30)-calendar day periods, and shall accrue daily commencing on the Original Issue Date (without any offset for any pro rata amount of Guaranteed Interest for the relevant period) until payment in full of the outstanding Principal Amount, together with all accrued and unpaid Guaranteed Interest, Default Rate interest, liquidated damages, and other amounts that may become due hereunder, has been made.
Any or all of the Principal Amount and Guaranteed Interest may be pre-paid at any time and from time to time, in each case without penalty or premium, Notwithstanding the above, in any such prepayment, payments will be applied first to any unpaid collection costs; then to any unpaid fees; then to any unpaid Default Rate interest; and any remaining amount shall be applied first to any unpaid Guaranteed Interest and then to any unpaid Principal Amount.
More Definitions of GUARANTEED INTEREST
GUARANTEED INTEREST. As to any SBA Section 7(a) Loan, the right to receive the guaranteed portion of the principal balance thereof together with interest thereon at a per annum rate in effect from time to time in accordance with the terms of the related SBA Form 1086. Certificateholders have no right or interest in the Guaranteed Interest.
GUARANTEED INTEREST. RATE -- The effective annual rate of interest LNY guarantees to credit on assets in the DCA Fixed Account. GENERAL ACCOUNT -- An account consisting of all assets owned by LNY other than those assets in segregated investment accounts. HOME OFFICE -- The principal office of LNY located at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, or an institution designated by LNY. LNY -- Lincoln Life & Annuity Company of New York. MATURITY DATE - The date by which an election to receive payments under an Annuity Payment Option must be made. The Maturity Date is the later of the Annuitant's 90/th/ birthday or 10 years from the Contract Date. The Maturity Date is shown on the Contract Specifications. NET ASSET VALUE PER SHARE -- The market value of a Fund share calculated each day. NOTICE -- Any form of communication providing information as required by LNY, either in signed writing or another manner, that LNY approves in advance. All Notices must be received by LNY in the Servicing Office and must include all required information necessary to process the request. To be effective for any Valuation Date, a Notice must be received in good order prior to the end of that Valuation Date. OWNER -- The one person, two persons or entity who exercises rights of ownership under this Contract. If two persons are named as Owner, all references to Owner means joint Owner. PURCHASE PAYMENTS -- Amounts paid into this Contract by the Owner.
GUARANTEED INTEREST. Rate The annual effective rate of interest after daily compounding credited to a Guarantee Period Account. Market Value Adjustment A positive or negative adjustment to earnings in a Guarantee Period Account assessed if any portion of a Guarantee Period Account is withdrawn or transferred prior to the end of its Guarantee Period. Owner The person, persons or entity entitled to exercise the rights and privileges under this contract. Joint Owners are permitted and unless otherwise indicated, any reference to Owner shall include joint Owners. Pro Rata How a Payment or withdrawal may be allocated among the accounts. A Pro Rata allocation or withdrawal will be made in the same proportion that the value of each account bears to the Accumulated Value. Request A request or notice made by the Owner, in a manner consistent with the Company's current procedures, which is received and recorded by the Company. Qualified Contract A contract that is purchased in connection with a retirement plan which meets the requirements of sections 401, 403, 408 and 408A of the Internal Revenue Code. Separate Account A segregated account established by the Company. The assets in a Separate Account are not commingled with the Company's general assets and obligations. The assets of a Separate Account are not subject to claims arising out of any other business the Company may conduct. State The state or jurisdiction in which the contract is issued. Sub-Account A Variable Account subdivision that invests exclusively in shares of a corresponding Fund. Surrender Value The amount payable to the Owner on full surrender after application of any Market Value Adjustment, surrender charge and Contract Fee. Survivor Annuity Benefit The number of Annuity Units (under a Percentage variable joint life annuitization option) or the dollar value of the annuity benefit payments (under a fixed joint life annuitization option) paid during the surviving Annuitant's life may be less than or equal to the number of Annuity Units paid when both individuals are living. The Survivor Annuity Benefit Percentage is the percentage of total Annuity Units or dollars paid in each annuity benefit during the survivor's life. For example, with a Joint and Two-thirds Survivor Option, the Survivor Annuity Benefit Percentage is 66 2/3 %. This percentage is only applicable after the death of the first Annuitant. Valuation Date A day the values of all units are determined. Valuation Dates occur on each day the New York Stock Ex...
GUARANTEED INTEREST means the total amount of interest that would accrue on this Note, at the Interest Rate specified in Section 2, from the date of this Note until the one year anniversary of the date of this Note.
GUARANTEED INTEREST the portion of an SBA Lender Loan guaranteed by SBA.
GUARANTEED INTEREST. RATES We will periodically establish an applicable Guaranteed Interest Rate for each Guarantee Period We offer. These rates will be guaranteed for the duration of the respective Guarantee Periods. No Guaranteed Interest Rate shall be less than an effective annual rate of 3% per year. MARKET VALUE ADJUSTMENT (MVA) Withdrawals from the fixed account will be subject to a MVA as follows: The MVA is applied to any withdrawal from the fixed account and includes the following:
GUARANTEED INTEREST. RATE The rate of interest We credit on an effective annual basis during any Guarantee Period. HOME OFFICE Our office at ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Woodbury, Minnesota 55125; ▇-▇▇▇-▇▇▇-▇▇▇▇, extension 3057; Mailing Address: P.O. Box 64272, St. ▇▇▇▇, Minnesota 55164. MARKET VALUE ADJUSTMENT (MVA) A positive or negative adjustment in the fixed account value that We may make if such value is paid out before the end of a Guarantee Period in which it was being held. NET ASSET VALUE PER SHARE The net assets of the Fund portfolio divided by the number of shares in the Fund portfolio. NET PURCHASE PAYMENT The gross amount of the Purchase Payment less any applicable premium taxes. PURCHASE PAYMENT An amount paid to the Company under this contract as consideration for the benefits described herein. SUBACCOUNT The Subaccounts of the Variable Account to which Contract Value may be allocated. Each Subaccount invests all of its assets in a portfolio of the Funds having the same investment policies and objectives as that Subaccount. VALUATION DATE All business days except, with respect to any Subaccount, days on which the related portfolio does not value its shares. VALUATION PERIOD The period that starts at the close of the New York Stock Exchange on a Valuation Date and ends at the close of the Exchange on the next succeeding Valuation Date. VARIABLE ACCOUNT A segregated investment account entitled "Variable Account D", established by Us pursuant to applicable law. That portion of the assets of the Variable Account equal to the reserves and other contract liabilities with respect to the Variable Account shall not be chargeable with liabilities arising out of any other business We may conduct. Income, gains and losses, whether or not realized, from assets allocated to the Variable Account, are credited to or charged against such account without regard to Our other income, gains or losses. VARIABLE ANNUITY OPTION An annuity option under which We promise to pay the Annuitant or other properly designated payee one or more payments which vary in amount in accordance with the net investment experience of the applicable Subaccounts selected to measure the value of the payments. WRITTEN, IN WRITING A Written request or notice in acceptable form and content, which is signed, dated, and received at Our Home Office.