Payment Anniversary Date definition
Examples of Payment Anniversary Date in a sentence
The Inherited NQ Payment Anniversary Date remains the same for each Beneficiary/Successor Owner electing to continue to receive scheduled payments under this Inherited NQ Contract.
Each subsequent annual scheduled Required Payment Under Section 72(s)(2)(B) is determined by dividing your remaining Annuity Account Value as of the Inherited NQ Payment Anniversary Date by your remaining life expectancy.
Each subsequent annual scheduled Required Payment Under Section 72(s)(2)(B) under this Contract is determined by dividing your remaining Annuity Account Value as of the Inherited NQ Payment Anniversary Date by your remaining life expectancy.
If the Inherited NQ Payment Anniversary Date is not a Business Day, the Required Payment Under Section 72(S)(2)(B) is determined by your Annuity Account Value on the immediately preceding Business Day.
Payments of the Annuity Benefit Under this Endorsement will vary based on the Annuity Account Value as determined on the Inherited NQ Payment Starting Date and each Inherited NQ Payment Anniversary Date.
If the Executive (i) is terminated for Cause (as defined below) or (ii) resigns from his employment without Good Reason (as defined below) prior to the Relocation Payment Anniversary Date, the Executive will be required to, and hereby agrees to, repay $75,000, representing the net amount of the Relocation Payment, to the Company within thirty (30) days of the Date of Termination (as defined below).