Maturity Proceeds definition

Maturity Proceeds means (i) the Accreted Amount of a Tuition Certificate at the Program Accrual Rate on the Maturity Date multiplied by (ii) the Designated Portion.

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Maturity Proceeds means, in relation to any Wakala Transaction, the proceeds of such Wakala Transaction generated by the Wakil and due to the Muwakkil on the relevant Maturity Date and calculated in accordance with Clause 5.4;

Maturity Proceeds means the amount, in respect of the Investment, which, following actual or constructive liquidation of the Investment Wakala Assets, shall be due to the Principal on the Investment Maturity Date and which shall comprise of the following: (a) the Investment Amount; and (b) realized Investment Profit (if any), after the deduction of all costs owing to the Agent, Agency Fee and Agent’s incentive (if any).

Examples of Maturity Proceeds in a sentence

If the Contract is in force on the Maturity Date, We pay the Maturity Proceeds to the Annuitant as described in Payment of Proceeds section.
If any Owner or the Annuitant dies after the Maturity Date and before the payment of the entire Maturity Proceeds, We pay any remaining balance as provided for in the Settlement Option selected, at least as rapidly as under the method of payment in effect at the Annuitant’s death.
As such, if the Maturity Proceeds amount to less than the Investment Amount for any reason, the Muwakil may be able to take advantage of the Financial Services Compensation Scheme (details of which are set out in clause 24.6 below).
The Maturity Proceeds equal the greater of the Contract Value or the Minimum Guaranteed Surrender Value on the Maturity Date.
We pay Proceeds under the Automatic Settlement Option, unless You or Your Beneficiary elect to apply all or part of Death or Maturity Proceeds to provide payments under another Settlement Option or in a lump sum.

More Definitions of Maturity Proceeds

Maturity Proceeds means the amount, in respect of the Investment, which, following actual or constructive liquidation of the Wakala Assets, shall be due to the Principal on the Maturity Date or upon termination or withdrawal and which shall comprise of the following: (a) the Wakala Amount; and (b) realized Profit (if any), after the deduction of all costs owing to the Agent, Wakala Fee and Performance Fee (if any).

Maturity Proceeds. The Maturity Proceeds are the amount of money payable to you on the Maturity Date if your policy is still in force. The Maturity Proceeds will be equal to the amount of the Cash Value, less any Indebtedness.

Maturity Proceeds means the amount that include Wakalah Investment Capital and the profit due to the Muwakkil on the Maturity Date, calculated in accordance with the Offer and Acceptance.

Maturity Proceeds means, in relation to any Wakala Investment, the sums due (if any) by the Wakil to the Muwakkil on the Maturity Date of the relevant Wakala Investment calculated in accordance with Clause 4.4 (Payment and calculation of Maturity Proceeds) and Clause 7.5 (Payments upon early termination).

Maturity Proceeds means the amount due to the Muwakkil on the Maturity Date, based on the results of the Investment Transaction, calculated in accordance with the Wakil Offer.

Maturity Proceeds. The amount due to the Muwakkil on the Maturity Date, calculated in accordance with the Wakil Offer.

Maturity Proceeds means, with respect to each Transaction, the Deposit and the earned profit on the Transaction as set out in each Transaction Confirmation and always subject to adjustment (if any) under clause 4.5;