Income Payment definition

Income Payment. The series of periodic annuity payments that are paid to the Payee. Income Payments may be variable and fixed, variable only, or fixed only based upon the investment options selected by the Owner.
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Income Payment. “means a payment required to be made under paragraph 7(a) by the Buyer to the Seller.
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Income Payment means a payment made to the member or to a dependant, nominee or successor, under a drawdown plan by selling units and/or by making payments from the bank account under that Plan.
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Examples of Income Payment in a sentence

  • Participation in XXXX and Credit Arrearage Programs:Participation in the Percentage of Income Payment Program (“XXXX”) administered by your utility may affect your eligibility to take service from a competitive retail electric service provider.

  • Each subsequent Periodic Income Payment during the Lifetime Income Period, if any, will be equal to the Guaranteed Income Benefit.

  • During the Lifetime Income Period, if a Periodic Income Payment as determined above is less than the Guaranteed Income Benefit, the excess of the Guaranteed Income Benefit over the Periodic Income Payment will reduce the number of Annuity Units per Variable Subaccount payable in each subsequent Periodic Income Payment.

  • In accordance with paragraph 146.1(2)(i.2) of the Tax Act, the Plan will not accept a transfer from a registered education savings plan after the registered education savings plan has made an Accumulated Income Payment.

  • If payment of the Guaranteed Income Benefit reduces the number of Annuity Units per payment to zero during the Lifetime Income Period, then each subsequent Periodic Income Payment during the remainder of the Lifetime Income Period, if any, will be equal to the Guaranteed Income Benefit.

  • Customers in the Percentage of Income Payment Plan, with certain arrearages, served by a competitive supplier or other customers determined not eligible for service under the Program by the Public Utilities Commission of Ohio (“PUCO”) or Utility rules are not eligible.

  • The Assured Income Payment Service shall be provided by the Custodian in accordance with the Assured Income Payment Standards.

  • Low Income Home Energy Program or Percentage of Income Payment Plan: Participation in the Low-Income Home Energy Program or participation in the Percentage of Income Payment Plan (XXXX) may affect your eligibility to take service from a competitive retail natural gas service provider.

  • The reduction to the number of Annuity Units per payment will be determined by first dividing `a' by `b' where: `a' is the amount of the excess of the Guaranteed Income Benefit over the Periodic Income Payment; and `b' is a revised annuity factor (See: Determination of Subsequent Periodic Income Payments, During the Access Period) and then dividing this result by the Annuity Unit value as of the Valuation Date of the Periodic Income Payment.

  • There shall be included in computing a Subscriber's income for a taxation year each Accumulated Income Payment received in the year.


More Definitions of Income Payment

Income Payment shall have the meaning ascribed to it in SECTION 1.04.
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Income Payment means the sum of the variable annuity payment and the fixed dollar annuity payment; (d) "General Account" means all assets of the Company other than those in the Separate Account or any other separate accounts of the Company. Reserves for any fixed dollar benefits shall be maintained in the General Account; (e) "Separate Account" means those assets of the Company in a segregated investment account entitled "Franklin Life Variable Annuity Fund C" established by the Company pursuant to Illinois law; (f) "Valuation Date" means the date as of which the Separate Account Net Investment Rate is determined. This value is determined on each day that the New York Stock Exchange is open, as of the close of trading on that day; (g) "Valuation Period" means the period, commencing on a Valuation Date and ending on the next Valuation Date; (h) "Separate Account Annuity Unit" means a unit used to determine the amount of each variable annuity payment; (See provision 4 dealing with Separate Account Annuity Unit values.) (i) "Written request" means a written request satisfactory to the Company, filed at its Home Office in Springfield, Illinois.
Sample 1
Income Payment means the sum of the variable annuity payment and the fixed dollar annuity payment; (d) "General Account" means all assets of the Company other than those in a Separate Account. Reserves for any fixed dollar benefits shall be maintained in the General Account; (e) "Separate Account" means those assets of the Company in a segregated investment account entitled "Franklin Life Variable Annuity Fund A" established by the Company pursuant to Illinois law; (f) "Valuation Date" means the date as of which the Separate Account Net Investment Rate is determined; (g) "Valuation Period" means the period, as determined by the Company, of not more than 7 calendar days beginning on the day after any Valuation Date and ending on the next Valuation Date; (h) "Separate Account Annuity Unit" means a unit used to determine the amount of each variable annuity payment. (See provision 4 dealing with Separate Account Annuity Unit values.) (i) "Written Request" means a written request satisfactory to the Company, filed at its Home Office in Springfield, Illinois.
Sample 1
Income Payment means the result of (A) times (B), where (A) is Income Before Taxes MINUS actual interest payments made by Borrower to Lender on the $2,750,000 Senior Subordinated Note of even date herewith, and (B) is forty percent (40%) prior to a Change in Control; and, if a Change in Control has occurred, then (B) shall mean a percentage equal to the long term tax-exempt rate as defined in Section 382(f) of the Code.
Sample 1

Related to Income Payment

  • PRE-PAYMENT The Tenant shall: (check one)

  • Incentive Payment means the payment to a STGU, including an AOBC Generation Unit, for RPS class I Renewable Generation Attributes and/or Environmental Attributes produced by these units, calculated pursuant to Section 7.0 below.

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Service Payment has the meaning given to it in clause 9.1;

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Incentive Payments means any and all federal or state governmental subsidies, payments, transfers or other benefits, whether now or hereafter established, received by the Borrower in any fiscal year aged less than 120 days.

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • Termination Payment has the meaning set forth in Section 6.03.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Annual Payment The total amount payable to the Settlement Fund Administrator by the Settling Distributors on the Payment Date each year, as calculated by the Settlement Fund Administrator pursuant to Section IV.B.1.e. For the avoidance of doubt, this term does not include the Additional Restitution Amount or amounts paid pursuant to Section X.

  • Down payment means all partial payments, whether made in cash or otherwise, received by or for the benefit of the seller before or substantially contemporaneous with either the execution of the installment sale contract or the delivery of the motor vehicle sold under that contract, whichever occurs later.

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Payment Due Date means the date by which the Date of Payment must occur, in accordance with the provisions of Sections 504.3 through 504.5 of this Exhibit, in order for NYSERDA not to be liable for interest pursuant to Section 504.6.

  • Payment Amount as defined in Section 3.5.

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Option Payment shall have the meaning set forth in Section 3.4.

  • Minimum Payment Due means the least payment amount, specified in the “Statement of Account”, required to be paid by the “Principal Cardholder” on or before the “Payment Due Date” in order to keep the “Card Account” active. “Past Due Amount” from previous “Billing Cycle” will form part of the “Minimum Payment Due”.

  • Estimated Swap Termination Payment means, with respect to an Early Termination Date, an amount determined by Party A in good faith and in a commercially reasonable manner as the maximum payment that could be owed by Party B to Party A in respect of such Early Termination Date pursuant to Section 6(e) of the ISDA Master Agreement, taking into account then current market conditions.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • a guaranteed income payment means a payment made under article 15(1)(c) (injury benefits) or 29(1)(a) (death benefits) of the Armed Forces and Reserve Forces (Compensation Scheme) Order 2011;

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Co-payment means a relatively small amount of money paid by the insured person towards the cost of each day in a private hospital per episode of care, with Latrobe paying the rest of the cost.

  • Deferred Sales Charge Payment Date means October 10, 2013 and the tenth day of each month thereafter through February 10, 2014.