Monthly Processing Date definition

Monthly Processing Date means the same day of each month as the Contract Date. If the day does not exist in a month, the last day of the month will be used.
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Monthly Processing Date is the day of each month that the Monthly Deduction Amount is deducted from the Account Value of this Contract. Monthly Processing Dates are the Contract Date and the same day of each month thereafter. If there is no such date in a particular month, the Monthly Processing Date will be the last day of that month. If a Monthly Processing Date is not a Valuation Date, the Monthly Processing Date will be the next Valuation Date.
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Monthly Processing Date. The "Monthly Processing Date" is the date each month on which the monthly deductions from the Accumulation Value are deducted. The first Monthly Processing Date will be the Policy Date or the date on which the initial Net Premium is allocated to your Policy, if later. Subsequent Monthly Processing Dates will be the same date as the Policy Date each month thereafter unless this is not a Valuation Day, in which case the Monthly Processing Date occurs on the next Valuation Day.
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Examples of Monthly Processing Date in a sentence

  • If Policy Debt exceeds Policy Account Value on a Monthly Processing Date, the Policy could lapse.

  • The date of reinstatement will be the Monthly Processing Date on or after the date we approve the reinstatement.

  • If the Policy Debt exceeds the Cash Surrender Value on a Monthly Processing Date, the Policy could lapse.

  • If Policy Account Value less Policy Debt is less than zero after deducting the Monthly Deduction due on a Monthly Processing Date, and the policyowner does not make the required payment by the end of a 61-day grace period, the Policy lapses as of the end of the grace period unless the No Lapse Guarantee is in effect.

  • The minimum death benefit required on any Monthly Processing Date is the Policy Account Value on the Monthly Processing Date multiplied by the factor shown in the Table of Death Benefit Factors in the Policy.

  • Shuler’s belief in the meeting that the Certificate of Occupancy would stay with the property owner at that point in time, and then when the house sold, the CO was dissolved, and not a perpetual situation.

  • The reduction will take effect on the Monthly Processing Date coinciding with or next following the date that GIAC approves the change.

  • If the No Lapse Guarantee is in effect, the Policy will not lapse during the first three policy years even if the Policy's Net Cash Surrender Value is insufficient to meet the Monthly Deductions due on a Monthly Processing Date.

  • Under death benefit Option 3, any premiums paid between the Monthly Processing Date and the date of death will increase death benefit.

  • Any partial withdrawals taken between the Monthly Processing Date and the date of death will reduce the death benefit under Option 1, 2 or 3 by the amount of the partial withdrawal and any applicable surrender charge.


More Definitions of Monthly Processing Date

Monthly Processing Date. The date each month on which the monthly deductions from the account value are due. The first monthly processing date will be the policy date or the date on which the initial net premium is allocated to your policy, if later. Subsequent monthly processing dates will be the same date as the policy date each month thereafter. If that date is not a valuation date, monthly processing will use the next calculated accumulation unit value. Net account value: The amount of the account value minus any policy loan and accrued loan interest. Net premium: The premium amount paid minus the premium expense charges shown in the Schedule. These charges are deducted from each premium before the premium is applied to your account value. Policy Form 15291-00 5 Partial withdrawal: The withdrawal of a portion of your cash surrender value from the policy. The partial withdrawal may reduce the amount of base death benefit in force, which in turn may cause a surrender charge to be incurred. Policy loan: The sum of amounts you have borrowed from your policy, increased by any policy loan interest capitalized when due, and reduced by any policy loan repayments.
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Monthly Processing Date means the same day of each calendar month following the Effective Date.
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Monthly Processing Date means the date which corresponds numerically with the Policy Issue Date in every calendar month.
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Monthly Processing Date. The date each month on which the monthly deductions from the account value are due. The first monthly processing date will be the policy date or the date on which the initial net premium is allocated to your policy, if later. Subsequent monthly processing dates will be the same date as the policy date each month thereafter. If that date is not a valuation date, monthly processing will use the next calculated accumulation unit value. Net account value: The amount of the account value minus any policy loan and accrued loan interest. Net cash surrender value: The account value minus any applicable surrender charge and minus any policy loan including accrued but unpaid loan interest.
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Related to Monthly Processing Date

  • Processing Date means the day on which the first step of physical Processing is scheduled to occur, as identified in an Acknowledgement.

  • Monthly P&I means, with respect to any Receivable, the amount of each monthly installment of principal and interest payable with respect to such Receivable in accordance with the terms thereof, exclusive of any charges allocable to the financing of any insurance premium and charges which represent late payment charges or extension fees.

  • Collection Period means, with respect to any Payment Date, the period commencing on the first day of the calendar month immediately preceding the month in which such Payment Date occurs (and, in the case of the first Collection Period, the period from (but excluding) the Cutoff Date) and ending on the last day of the calendar month immediately preceding the month in which such Payment Date occurs.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.

  • Remittance Date With respect to each Distribution Date, the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately following) of the month in which such Distribution Date occurs.

  • Collection Date means the date on which the aggregate outstanding principal amount of the Advances have been repaid in full and all Interest and fees and all other Obligations (other than contingent indemnification and reimbursement obligations which are unknown, unmatured and/or for which no claim giving rise thereto has been asserted) have been paid in full, and the Borrower shall have no further right to request any additional Advances.

  • Monthly Servicing Report shall have the meaning attributed to such term in the Servicing Agreement.

  • Collection Point means the collection point for the Vehicle specified in the Confirmation and/or Rental Agreement;

  • Collection Day means any day which is scheduled by the Municipality for municipal collection of collectible waste.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Transfer Date means, in relation to a transfer, the later of:

  • Monthly Period means the period from and including the first day of a calendar month to and including the last day of such calendar month.

  • Origination Date means, with respect to each Mortgage Loan, the date of the Mortgage Note relating to such Mortgage Loan, unless such information is not provided by the Borrower with respect to such Mortgage Loan, in which case the Origination Date shall be deemed to be the date that is 40 days prior to the date of the first payment under the Mortgage Note relating to such Mortgage Loan.

  • Servicer Remittance Date With respect to any Distribution Date, the 18th day of the calendar month in which such Distribution Date occurs or, if such 18th day is not a Business Day, the Business Day immediately following.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

  • Applicable Monthly Payment For any Mortgage Loan (including an Outside Serviced Mortgage Loan) with respect to any month (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment; provided, however, that for purposes of calculating the amount of any P&I Advance required to be made by the Master Servicer or the Trustee, notwithstanding the amount of such Applicable Monthly Payment, interest shall be calculated at the Mortgage Rate less the Servicing Fee Rate and, if applicable, shall be exclusive of Excess Interest; and provided, further, that for purposes of determining the amount of any P&I Advance, the Monthly Payment shall be as reduced pursuant to any modification of a Mortgage Loan pursuant to Section 3.24 of this Agreement or pursuant to the applicable Outside Servicing Agreement, or pursuant to any bankruptcy, insolvency, or other similar proceeding involving the related Mortgagor.

  • P&I Advance Date The Business Day immediately prior to each Distribution Date.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • Reais Transfer Date means each Business Day of each calendar month following a Business Day when, as of the Balance Transfer Time for the Bond Administrator, there are available funds in the Collections Account for allocation in accordance with the Indenture.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

  • Yield Supplement Account Deposit means the initial deposit of cash in the amount of $[_________] made by or on behalf of the Seller into the Yield Supplement Account on the Closing Date.

  • Master Servicer Remittance Amount With respect to each Master Servicer and each Master Servicer Remittance Date, an amount equal to (a) all amounts on deposit in such Master Servicer’s Collection Account as of 11:00 a.m., New York City time, on such Master Servicer Remittance Date, net of (b) any portion of the amounts described in clause (a) of this definition that represents one or more of the following: (i) collected Monthly Payments with respect to any Mortgage Loan serviced by such Master Servicer that are due on a Due Date following the end of the related Collection Period, (ii) to the extent not covered by clause (i) above, any payments of principal (including Principal Prepayments) and interest, Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds Received by the Trust with respect to any Mortgage Loan or REO Property serviced by such Master Servicer after the end of the related Collection Period, (iii) any Prepayment Premiums and/or Yield Maintenance Charges Received by the Trust with respect to any Mortgage Loan or successor REO Mortgage Loan serviced by such Master Servicer with respect thereto after the end of the related Collection Period, (iv) any Excess Liquidation Proceeds, (v) any amounts payable or reimbursable to any Person from such Collection Account pursuant to clauses (ii) through (xxii) of Section 3.05(a), and (vi) any amounts deposited in such Collection Account in error; provided that the Master Servicer Remittance Amount with respect to such Master Servicer for the Master Servicer Remittance Date that occurs in the same calendar month as the anticipated Final Distribution Date shall be calculated without regard to clauses (b)(i), (b)(ii), (b)(iii) and (b)(iv) of this definition.

  • Monthly Servicer Report means a report substantially in the form attached as Exhibit A-1 to the Servicing Agreement or in such other form as shall be agreed between the Servicer (with prior consent of the Back-Up Servicer) and the Trustee; provided, however, that no such other agreed form shall serve to exclude information expressly required by this Base Indenture or any Series Supplement.

  • Monthly Progress Report means the report similar in form and content attached hereto as Appendix III.