PARTIAL SURRENDER definition

PARTIAL SURRENDER. A partial surrender may be made at any time after the first policy year while this policy is in force. You must submit a written request. We may also require that this policy be sent to us. We reserve the right to limit the number of partial surrenders in a policy year to one. In addition, a partial surrender will be allowed only if after the partial surrender, this policy continues to qualify as a contract for life insurance. We reserve the right to deduct a fee from the partial surrender amount. The maximum fee is shown on the policy data page. When a partial surrender is made, we will reduce the Cash Value by the partial surrender amount. We will also reduce the Specified Amount by the amount necessary to prevent an increase in the Net Amount at Risk. Any such decrease will reduce insurance in the following order:
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PARTIAL SURRENDER. A surrender of a portion of the Account Value in exchange for a payment to the Owner in accordance with the terms of Section 10.
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PARTIAL SURRENDER. A partial surrender may be made at any time after the first policy year while this Policy is in force. You must submit a written request. We may also require that this Policy be sent to us. We reserve the right to limit the number of partial surrenders in a policy year to one. In addition, a partial surrender will be allowed only if after the partial surrender, this Policy continues to qualify as a contract for life insurance. We reserve the right to deduct a fee from the Partial Surrender Amount you requested. The maximum fee is shown on the Policy Data Page. When a partial surrender is made we will reduce the Cash Value by the Partial Surrender Amount. We will also reduce the Specified Amount by the amount necessary to prevent an increase in the Net Amount At Risk. However, the reduction to the Specified Amount will not be greater than the Partial Surrender Amount less preferred partial surrender, which must meet the conditions below. Any such decrease will reduce insurance in the following order:
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Examples of PARTIAL SURRENDER in a sentence

  • IN ADDITION TO THE PARTIAL SURRENDER CHARGE, AN ADMINISTRATIVE FEE OF $25 MAY APPLY FOR EACH PARTIAL SURRENDER.

  • THIS PARTIAL SURRENDER AGREEMENT made and entered into this 12th day of December, 2003, effective as of December 1, 2003, by and between ACIN LLC, a Delaware limited liability company, successor in interest to CSTL LLC through merger, (hereinafter referred to as "Lessor"), and ALPHA LAND AND RESERVES, LLC, a Delaware limited liability company (hereinafter referred to as "Lessee").

  • PROVISIONS RELATING TO AMOUNT PAYABLE ON DEATH, PARTIAL SURRENDER, AND SURRENDER (continued) Payment On Death, Partial Surrender, and Surrender Payment under any of the Provisions Relating to Amount Payable On Death, Partial Surrender, and Surrender will only be made to the order of the Participant or Beneficiary as directed in the Written Request.

  • By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇ ------------------------------ Name: ▇▇▇▇▇ ▇▇▇▇▇▇ Title: Chief Financial Officer EXECUTION COPY EXHIBIT "A" THE MASTER LEASE LEASE MODIFICATION AND PARTIAL SURRENDER OF LEASE AGREEMENT Agreement made this day of January, 2000, between ▇▇▇▇▇ ▇.

  • SECTION 1: CONTRACT DATA (continued) DATE PREPARED:09/01/2000 INSURED CONTRACT NUMBER ▇▇▇▇ ▇▇▇ 9999999 PREMIUM EXPENSE CHARGE 6.35% deducted from each premium payment MONTHLY EXPENSE CHARGE $7.50 per month plus Current [0.00] per $1,000 Guaranteed $.05 per $1,000 MORTALITY AND EXPENSE RISK CHARGE 0.50% annually PARTIAL SURRENDER FEE The partial surrender fee is the lesser of: (a) 2% of the amount surrendered; or (b) $25.00.

  • Notwithstanding the foregoing, any notice given by Tenant which purportedly exercises the Partial Surrender Option, but which does not contain substantially the following statement in bold and CAPITAL letters shall not be effective as a Partial Surrender Exercise Notice: “THIS IS THE PARTIAL SURRENDER EXERCISE NOTICE WITH RESPECT TO THE SURRENDER SPACE DESCRIBED IN SUBSECTION 42.04(c) OF THE SUBLEASE.

  • VA03-3OUT Page 3 PRINTED IN U.S.A. CONTINGENT DEFERRED SALES CHARGES: WE MAY ASSESS A CONTINGENT DEFERRED SALES CHARGE ("CHARGE") WHEN YOU REQUEST A FULL OR PARTIAL SURRENDER.

  • PARTIAL SURRENDER ----------------- The Participant may elect a Partial Surrender from the General Account and/or any Sub-Account subject to the following conditions: 1.

  • THIS AGREEMENT AND PARTIAL SURRENDER AND RELEASE, dated October 13, 1980, by and between WESTMORELAND COAL COMPANY, a Delaware corporation, hereinafter refer▇▇▇ ▇▇ ▇▇ "▇estmoreland"; and THE CRAB ORCHARD COAL AND LAND COMPANY, a West Vi▇▇▇▇▇▇ ▇▇▇▇▇ration, hereinafter referred to as "Crab Orchard".

  • VA03-3DIR Page 3 PRINTED IN U.S.A. CONTINGENT DEFERRED SALES CHARGES: WE MAY ASSESS A CONTINGENT DEFERRED SALES CHARGE ("CHARGE") WHEN YOU REQUEST A FULL OR PARTIAL SURRENDER.


More Definitions of PARTIAL SURRENDER

PARTIAL SURRENDER. A partial surrender may be made at any time after the first policy year while this Policy is in force. You must submit a written request. We may also require that this Policy be sent to us. We reserve the right to limit the number of partial surrenders in a policy year to one. In addition, a partial surrender will be allowed only if after the partial surrender, this Policy continues to qualify as a contract for
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PARTIAL SURRENDER sub-sections of the "Provisions Relating to Amount Payable on Death, Partial Surrender and Surrender" section of the contract shall not apply to monies contributed under a custodial account contract issued under IRC Section 403(b)(7). Distribution of such custodial account amounts shall be restricted in accordance with the provisions noted in Section 2 above.
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PARTIAL SURRENDER. A partial surrender may be made at any time after the first policy year while this policy is in force. You must submit a written request. We may also require that this policy be sent to us. We reserve the right to limit the number of partial surrenders in a policy year to one a year from the Policy Date. A partial surrender will not increase the Net Amount at Risk. In addition, a partial surrender will be allowed only if after the partial surrender, this policy continues to qualify as a contract for life insurance. We reserve the right to deduct a fee from the Partial Surrender Amount you requested. The maximum fee is $25.00 or 2% of the partial surrender, whichever is less. When a partial surrender is made, we will reduce the Cash Value by the Partial Surrender Amount. We will also reduce the Specified Amount by the amount necessary to prevent an increase in the Net Amount at Risk. However, the reduction to the Specified Amount will not be greater than the Partial Surrender Amount. Any such decrease to the Specified Amount as a result of an ordinary partial surrender will reduce insurance in the following order:
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PARTIAL SURRENDER. Any withdrawal of a portion of Your Contract Value which may be subject to charges, if applicable.
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PARTIAL SURRENDER. A partial surrender may be made at any time while this policy is in force. You must submit a written request. We may also require that this policy be sent to us. We reserve the right to limit the number of partial surrenders in a policy year to one a year from the Policy Date. In addition, a partial surrender will be allowed only if after the partial surrender, this policy continues to qualify as a contract for life insurance. We reserve the right to deduct a fee from the Partial Surrender Amount you requested. The maximum fee is shown on the Policy Data Page. When a partial surrender is made we will reduce the Cash Value by the Partial Surrender Amount. We will also reduce the Specified Amount by the amount necessary to prevent an increase in the Net Amount At Risk. However, the reduction to the Specified Amount will not be greater than the Partial Surrender Amount less preferred partial surrenders. A preferred partial surrender, when aggregated with any other preferred partial surrenders during the same policy year, shall not exceed 5% of the Cash Surrender Value as of the beginning of that year. If you do not notify us in writing that you wish a partial surrender to be considered a preferred partial surrender, it will be considered an ordinary partial surrender. Any such decrease to the Specified Amount as a result of an ordinary partial surrender will reduce insurance in the following order:
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PARTIAL SURRENDER. A partial distribution of the Cash Surrender Value. Unless there is a Preferred Partial Surrender, there will be a reduction in the amount of insurance coverage provided by the policy. PARTIAL SURRENDER AMOUNT: This is the amount requested by you as a Partial Surrender.
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Related to PARTIAL SURRENDER

  • Partial Dependant means a "dependant" as prescribed in paragraph (a) of this subclause who receives a location allowance which is less than the location allowance prescribed in subclause (1) of this clause or who, if in receipt of a salary or wage package, receives less than a full consideration for which the location allowance is payable pursuant to the provisions of this clause.

  • Premises Building Partial Damage means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is less than fifty percent (50%) of the then Replacement Cost of the building.

  • Partial Payment means a payment that is insufficient to discharge all amounts then due and payable under the Finance Documents.

  • Partial Condemnation means any Condemnation which does not constitute a Termination Event.

  • Premises Partial Damage means damage or destruction to the Premises, other than Lessee-Owned Alterations and Utility Installations, the repair cost of which damage or destruction is less than fifty percent (50%) of the then Replacement Cost (as defined in Paragraph 9.1(d)) of the Premises (excluding Lessee-Owned Alterations and Utility Installations and Trade Fixtures) immediately prior to such damage or destruction.