Interest Adjustment is a positive or negative adjustment that reflects changes in interest rates related to the fixed income assets purchased in support of the Contract. The “Equity Adjustment” is a positive or negative adjustment that reflects changes in economics related to the Index. The Interest Adjustment and Equity Adjustment on any date are determined based on the provisions of the Interim Value Endorsement. Unless you direct otherwise, all partial Withdrawals will be taken first from the Fixed Segment Options (shown on the Segment Contract Schedule), beginning with the Fixed Segment Option with the shortest Segment Term Period. To the extent there are not enough funds in the Fixed Segment Options to cover the entire Withdrawal, we will deduct the remaining balance from the other Segment Options in which you have funds, beginning with Segment Options that have the shortest Segment Term Period. If you have multiple Segment Options with the same Segment Term Period, we will deduct the remaining balance pro rata across those Segment Options. A “Free Withdrawal” is a Withdrawal amount on which no Withdrawal Charges apply. The Free Withdrawal amount available to you in the first Contract Year will be equal to the Free Withdrawal Percentage multiplied by the Purchase Payment. In subsequent Contract Years, the Free Withdrawal amount available to you will be equal to the Free Withdrawal Percentage multiplied by the Contract Value as of the Contract Anniversary on the first day of that Contract Year. The Free Withdrawal Percentages are shown on the Contract Schedule. Any unused portion of the Free Withdrawal amount for a Contract Year cannot be carried over to the following Contract Year. If the amount of a Withdrawal in any Contract Year exceeds the Free Withdrawal amount for that Contract Year, the excess Withdrawal will be subject to any applicable Withdrawal Charge. If you surrender your Contract, a Withdrawal Charge will be applied to any Free Withdrawal previously taken during the same Contract Year. To take a Withdrawal from your Contract, you must notify us. The minimum amount that you may request to be withdrawn from your Contract at any time is $500. If you request a Withdrawal that causes the Contract Value to be less than $2,000, we will treat your request as a surrender of your Contract. We reserve the right to pay Withdrawal amounts directly to you. We may defer payment of any Withdrawals of any type from your Contract for up to six months if the insurance regulat...
Interest Adjustment has the meaning given in Schedule 5;
Interest Adjustment has the meaning set out in the Pension Plan and Employee Benefit Plan Agreement.
Examples of Interest Adjustment in a sentence
A “Free Withdrawal” is a Withdrawal amount on which no Withdrawal Charges or Interest Adjustment apply.
The Withdrawal amount, adjusted for any applicable Withdrawal Charges, Interest Adjustment, and Equity Adjustment, cannot be greater than the Cash Surrender Value.
An Interest Adjustment will not be applied to any portion of a surrender or Withdrawal that is not subject to a Withdrawal Charge.
The Interest Adjustment will be applied to any portion of a surrender or Withdrawal that is subject to a Withdrawal Charge and will be calculated as a separate adjustment that is in addition to any applicable Withdrawal Charge.
The Interest Adjustment and Equity Adjustment on any date are determined based on the provisions of the Interim Value Endorsement.
More Definitions of Interest Adjustment
Interest Adjustment means the aggregate amount of all unpaid interest as of the close of business on the Closing Date which is not more than 30 days past due under the terms of the Loan Documents in respect of the Loans (other than Loans with respect to REO Property for which there is no Interest Adjustment).
Interest Adjustment. Any withdrawal from a Fixed Subaccount prior to the end of a Guarantee Period may also be subject to an Interest Adjustment as described on Page 12 which may increase, decrease, or have no effect on the applicable account values(s). An Interest Adjustment would not apply to a withdrawal effective at the end of a Guarantee Period. DEATH BENEFIT REQUIREMENTS PRIOR TO THE ANNUITY COMMENCEMENT DATE: None ANNUITY PAYMENT REQUIREMENTS: Determination of the First Annuity Payment Date: For 100% Fixed Annuity Payment, the Annuity Payment Date must be at least 30 days after the Annuity Commencement Date. If any portion of the annuity payment will be on a variable basis, the Annuity Payment Date will be 14 days after the Annuity Commencement Date. The Annuity Unit value, if applicable, and Contract Value used to effect annuity payments will be determined as of the Annuity Commencement Date. Minimum Annuity Payment Amount: $50 Minimum Guaranteed Interest Rate for the Fixed Annuity Payment: 2.75% Assumed Investment Rate for the Variable Annuity Payment: Between 3.0% - 5.0% WITH A MORTALITY AND EXPENSE RISK AND ADMINSTRATIVE CHARGE OF 1.40%, THE SMALLEST RATE OF INVESTMENT RETURN REQUIRED TO ENSURE THAT THE DOLLAR AMOUNT OF VARIABLE ANNUITY PAYMENTS DOES NOT DECREASE IS:
Interest Adjustment. Any withdrawal from a Fixed Subaccount prior to the end of a Guarantee Period may also be subject to an Interest Adjustment as described on Page 12 which may increase, decrease, or have no effect on the applicable account values(s). An Interest Adjustment would not apply to a withdrawal effective at the end of a Guarantee Period.
Interest Adjustment has the meaning set forth in Section 4.2.
Interest Adjustment shall have the meaning assigned thereto in Section 2.2.
Interest Adjustment. An adjustment to the amount withdrawn, transferred or annuitized from an IA Account prior to the end of the applicable Guarantee Period. The adjustment reflects the change in the value of the funds withdrawn or transferred due to the change in the interest rates since the beginning of the Guarantee Period.
Interest Adjustment. Except on the latest Annuity Date, any amount withdrawn, transferred or annuitized prior to the end of that Guarantee Period may be subject to an Interest Adjustment. The Interest Adjustment will be calculated by using the formula which provides you with the larger value. The formulas are calculated by: (a) multiplying the amount withdrawn, transferred or annuitized by the Interest Adjustment Factor shown below or by (b) accumulating the amount of Purchase Payment withdrawn, transferred or annuitized at an effective annual interest rate of three percent (3%). Both (a) and (b) will be adjusted for any applicable Contingent Deferred Sales Charges and any prior deductions for withdrawals or taxes.