Loan Account Value definition

Loan Account Value is the amount of all loans under this Contract that have not been repaid, adjusted for interest we credit to the Loan Account at the Loan Credited Rate and for any due and unpaid loan interest we charge at the Loan Interest Rate. The Loan Interest Rate is shown in the Schedule.
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Loan Account Value. For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: · interest; plus · Contract Value loaned on that day; and decreased by any: · loan principal repaid; plus · earned interest transferred from the Loan Account on that day. CHARGES, FEES AND DEDUCTIONS Administrative Fee — We charge an administrative fee against the assets held in the Variable Investment Option(s). This fee is assessed daily at the annual rate which is shown in the Contract Specifications. This fee is guaranteed not to increase.
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Loan Account Value. The Policy Value in the Loan Account.
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Examples of Loan Account Value in a sentence

  • As of the end of any Business Day, the Contract Value is equal to the sum of the Variable Account Value plus any Loan Account Value.

  • Transfers — You may, on or before the Annuity Date and subject to the requirements, limitations and restrictions described in this section, transfer all or part of the Contract Value, less any Loan Account Value, in any Investment Option among other Investment Options, while the Annuitant is living and the Contract is in force.

  • After the Maturity Date, interest on loans will continue to accrue and will be added to the total Loan Account Value, and loan repayments will be accepted.

  • Loan Account Value — The amount, including any interest accrued, held in the Loan Account to secure any Contract Debt.

  • For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: • interest; plus • Contract Value loaned on that day; and decreased by any: • loan principal repaid; plus • earned interest transferred from the Loan Account on that day.

  • Contract Value — The Contract Value on any Business Day is the sum of: • the Variable Account Value; plus • the Loan Account Value.

  • LOANS (continued) Loan Account When you take a loan, or when accrued interest is capitalized, we will transfer amounts from the Fixed Account and the Investment Accounts to the Loan Account in the same proportion that the Policy Value in each of these accounts bears to the total Policy Value net of the Loan Account Value and net of the value in the Index Appreciation Account.

  • The portion of each Net Premium allocated to a Fund plus any interest earned on the Loan Account Value which is attributable to that Fund is credited to this Policy in the form of accumulation units.

  • Loan Account Value – The amount, including any interest accrued, held in the Loan Account to secure any Contract Debt.

  • Transfers – You may, on or before the Annuity Date and subject to the requirements, limitations and restrictions described in this section, transfer all or part of the Contract Value, less any Loan Account Value, in any Investment Option among other Investment Options, while the Annuitant is living and the Contract is in force.


More Definitions of Loan Account Value

Loan Account Value. The Loan Account Value is a portion of the Accumulated Value set aside to secure the Policy Debt. The Loan Account Value is equal to the Loan Account plus Loan Interest. Such interest is based on the balance in the Loan Account, and accrues daily on a compounded interest basis, using the Loan Account Interest rate, which is an annual interest rate not less than 2.50%.
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Loan Account Value. The value of the Loan Account credited to the Owner under the Policy Value Account.
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Loan Account Value. The Policy Value in the Loan Account. Monthly Anniversary Day: The same day of the month as the Policy Effective Date. The Monthly Anniversary Day is shown on the Policy Schedule. Net Asset Value Per Share: The value per share of any Fund as computed on any Valuation Day as described in the Fund prospectus.
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Loan Account Value. Unless the Owner takes a loan, the Loan Account Value is zero. (Amounts the Owner takes as a loan are sometimes referred to in the Certificate as amounts the Owner "borrows".) If the Owner takes a loan, then on the effective date of the loan the Loan Account Value is equal to the amount of the loan. On each subsequent Valuation Date, it is equal to (a) + (b) + (c) - (d) - (e), where:
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Loan Account Value. For Qualified Contracts that permit loans, the Loan Account Value as of the end of any Business Day is the Loan Account Value on the prior Business Day, increased by any: · interest; plus · Contract Value loaned on that day; and decreased by any: · loan principal repaid; plus · earned interest transferred from the Loan Account on that day.
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Related to Loan Account Value

  • Account Value means the amount shown on Schedule A under the heading Account Value. The parties expressly acknowledge that the Account Value may be different than the liability that should be accrued by the Bank, under Generally Accepted Accounting Principles (“GAAP”), for the Bank’s obligation to the Executive under this Agreement. The Account Value on any date other than the end of a Plan Year shall be determined by adding the prorated increase attributable for the current Plan Year to the Account Value for the previous Plan Year.

  • Loan Account has the meaning set forth in Section 2.10.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Project Loan Account means any of the Accounts within the Project Fund so designated and established by Article V.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Applicable Account means, with respect to any payment to be made to the Administrative Agent hereunder, the account specified by the Administrative Agent from time to time for the purpose of receiving payments of such type.

  • Omnibus Account means any Shareholder Account the record owner of which is a registered broker-dealer which has agreed with the Transfer Agent to provide sub-transfer agent functions relating to each Sub-shareholder Account within such Shareholder Account as contemplated by this Schedule I in respect of each of the Funds.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,653,198.45.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Credit Account is modified to read “Grant Account”.

  • Net Amount of Eligible Accounts means the gross amount of Eligible Accounts less (a) sales, excise or similar taxes included in the amount thereof and (b) returns, discounts, claims, credits and allowances of any nature at any time issued, owing, granted, outstanding, available or claimed with respect thereto.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Lender’s Account means the account identified in Schedule L-1.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Principal Funding Account Balance means, with respect to any date of determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Liquidity Account Investments means Deposit Securities or any other security or investment owned by the Fund that is rated not less than A3 by Moody’s, A- by Standard & Poor’s, A- by Fitch or an equivalent rating by any other NRSRO (or any such rating’s future equivalent) or if not rated, determined by the Adviser to be of comparable quality.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.